Shallow High-Grade Oxide Gold Mineralization Expanded At Lemhi

SALMON, ID - Freeman Gold Corp. reported results of core from an additional 11 of 34 diamond drill holes on the Lemhi Gold Project located in Idaho. The objective of the 2020 Phase 1 drill program was designed to confirm historical mineralization and allow the use of over 355 historical drill holes in a maiden National Instrument 43-101 compliant resource estimate. The drill program focused on infill and step-out drilling within the known mineralized body to increase confidence and maximize the potential resource.

All holes drilled to date have intersected high-grade shallow oxide gold. Selected highlighted results from the additional 11 holes are 2.6 g/t Au over 14.1m (FG20-005C); 1.6 g/t Au over 86m, including 2.2 g/t Au over 20.2m (FG20-007C); 0.9 g/t Au over 174.2m, including 3.9 g/t Au over 18.5m (FG20-008C); and 3.5 g/t Au over 9.5m (FG20-013C). Gold mineralization extends to at least 210 meters and is open at depth. FG20-014C was drilled to test mineralization beneath the intrusion. Mineralization discovered below the intrusive unit encountered 1.2 g/t Au over 21.8m demonstrating that the mineralization not only continues at depth but to the east. This drill hole was the easternmost hole drilled during the 2020 campaign. This new zone remains open on strike. In addition, drill hole FG201-008 ended in mineralization (181.93m to 182.97m contained 2.39 g/t Au), suggesting either additional mineralized stacks at depth and or proximity to a feeder zone.  The results are being interpreted by technical staff for future follow up activities.

Will Randall, President and CEO, said, "These drill results continue to demonstrate the consistent high grade, near surface nature of the gold mineralization at Lemhi. We have now received assay results, which have exceeded expectations, for half of the holes drilled by Freeman. In particular, we are very pleased at the response to drill testing the high-grade structures which are behaving in a consistent and predictable manner. We are also encouraged by FG20-014C which is our first drill hole to explore possible repetitions of the flat lying structures at depth below a predominant intrusive body. We now have confirmed that gold mineralization continues at depth and will be working on follow up work to maximize this discovery."

Geologically, the Lemhi Gold Project lies within the Idaho-Montana porphyry belt, a northeast-trending alignment of metallic ore deposits and mines related to granitic porphyry intrusions. These extend north-easterly across Idaho and are related to the Trans-Challis fault system, a broad (20-30 km-wide) system of en-echelon northeast-trending structures extending from Boise Basin more than 270 km into Montana. At Lemhi, gold mineralization is hosted in Mesoproterozoic quartzites and phyllites within a series of relatively flat-lying lodes consisting of quartz veins, quartz stockwork and breccias. Mineralized lodes are associated with low angle faults, folding and shear zone(s). The mineralized zones have varying amounts of sulphides (pyrite, chalcopyrite, bornite, molybdenum, and occasionally arsenopyrite) where free gold is common.  Gold mineralization at Lemhi is open at depth and on strike.