High Grade Gold Mineralization At Newly Discovered Beauty Zone

VANCOUVER - Freeman Gold Corp. has received results for five diamond drill holes and three reverse circulation (RC) holes totaling 1,231 meters from the follow up drill program at the newly discovered Beauty Zone, Idaho.  The drill holes were designed to test mineralization along strike and down dip of the known discovery hole (FG21-003C) which returned 6m @ 68.23 grams per tonne gold (g/t Au) and 40.18 grams per tonne silver (g/t Ag), including 3.16m @ 128.92 g/t Au and 75.59 g/t Ag. The Beauty Zone is part of a 350 meter by 250 meter coincidental gold in rock and soil anomaly which is open to the south, southwest and east.  Drilling now shows three distinct mineralized zones - Upper, Main and Lower zones. The main zone projects to surface where 28 rock grab samples contained more than 10 g/t Au (up to 450 g/t Au).

Paul Matysek, Executive Chairman, commented, "We are excited to have demonstrated continuity of the high-grade mineralization along strike and at depth at the Beauty Zone. The zone occurs near surface and in close proximity to our core Lemhi project. We will look at the Beauty Zone as additional high grade ounces that may be incorporated into our PEA."  

All holes drilled to date have intersected shallow oxide gold. Selected highlighted results from the eight holes are: 4.2 m @ 3.2 g/t Au, including 0.6m @ 19.6 g/t Au (FG22-013C); 2.0m @ 1.4 g/t Au, including 0.5m @ 4.7 g/t Au, 10.4 g/t Ag and 1.94 percent copper (% Cu) (FG22-020C); 0.9m @ 4.3 g/t Au, 22.6 g/t Ag and 1.6% Cu (FG22-026C) and 12.19m @ 1.49 g/t Au, including 1.52m @ 8.04 g/t Au (FG22-056R; newly discovered Lower Zone; see Figure 1).  Gold mineralization at the Beauty Zone now extends approximately 150 meters along strike and 115 meters down dip and is open at depth and along strike to the north. The drill section and long section attached show the continuous nature of the zone downdip. The zone does continue to exhibit structural complexity and poor recoveries due to the faulting.

As of December 2022 a total of 50 new core drill holes for a total of 12,168 meters and 10 RC holes totaling 1,621.5 meters were completed at Lemhi. These holes have been primarily designed to test on strike extensions of the known resource as well as infill in certain parts of the gold deposit. In particular, the drill program has focused on areas currently modeled as pit waste because of no or sparse drill data. All ounces added in these areas, even if close to the cut-off grade, will add value to the project as they come from zones in the resource shell that can now be upgraded to resources . This marks the completion of the Phase 3 RC drill program which was concluded in December due to inclement weather and drilling issues. Additionally, eight holes (five core drill holes and three RC) were drilled at the Beauty Zone totaling 1,231 meters.