VANCOUVER, BC, Dec. 2, 2024
/CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQX: FMANF) (FSE:
3WU) ("Freeman Gold", "Freeman" or the
"Company") is pleased to announce it has appointed
David Keough to its board of
directors, effective December 2,
2024.
Mr. Keough is an experienced mining executive with over 35 years
of practice in the mining industry including exploration,
engineering, mine operations (Open Pit and Underground), corporate
development, contracting, consulting, projects and construction.
His extensive mining experience spans jurisdictions across
Latin America, North America, Europe, Africa and Asia
Pacific. He has direct experience in numerous commodities
including precious metals, base metals, mineral sands, and lithium.
Furthermore, Mr. Keough has held a number of executive director
positions in both private and public companies in Australian and
Canada, with broad experience
serving on Board audit committees, sustainability committees and
compensation committees.
During his 35-year career, Mr. Keough worked for Placer Dome,
Minera Alumbrera (Argentina), and
spent six years with Goldcorp Inc. in key corporate development and
operational roles in numerous countries before his appointment as
Executive Vice President and Chief Operating Officer for Crocodile
Gold. He later served as Executive Director and Chief
Operating Officer of Goldrock Inc., in which he successfully
permitted the Lindero gold project (Argentina) for construction. Lindero was
subsequently acquired by Fortuna Silver Mines Inc. He is currently
a Non-Executive director of Saxum Engineering Solutions, a leading
private engineering firm in the Americas.
Mr. Keough holds a Bachelor of Science and post graduate diploma
(Mineral Economics) from James Cook University (Queensland) and is a Fellow of the Australian
Institute of Mining and Metallurgy and an accredited Chartered
Professional (Management). He also holds open-pit mine manager's
certificates of competency (Western
Australia).
Commenting on the appointment, CEO Bassam Moubarak "I am very
excited and honoured to be working with David again. We look
forward to David's valuable input in our engineering studies and
mine development plans to further unlock and enhance the value of
the 100% owned Lehmi Gold Project."
Paul Matysek, Freeman Gold
Executive Chairman, continued, "David was instrumental in
completing feasibility studies for both Goldrock Mines and
Lithium-X Energy Corp. that were the basis for negotiating sales to
Fortuna Silver Mines Inc and NextView New Energy Lion Hong King
Ltd., respectively. These two transactions cumulatively delivered
$444 million of value to shareholders
and investors and we are glad to have the team back together at
Freeman Gold."
The Company further announces the grant of an aggregate of
500,000 stock options to a director and to a consultant of the
Company, whereby each stock option is exercisable at $0.11 for a period of five years from the date of
grant, subject to regulatory approval.
About the Company and Project
Freeman Gold Corp. is a mineral exploration company focused on
the development of its 100% owned Lemhi Gold property (the
"Project"). The Project comprises 30 square kilometres of
highly prospective land, hosting a near-surface oxide gold
resource. The pit constrained National Instrument 43-101 compliant
mineral resource estimate is comprised of 988,100 oz gold
("Au") at 1.0 grams per tonne ("g/t") in 30.02
million tonnes (Measured & Indicated) and 256,000 oz Au at 1.04
g/t Au in 7.63 million tonnes (Inferred). The Company is focused on
growing and advancing the Project towards a production
decision.
The recently completed Preliminary Economic Assessment (PEA)
shows: an after-tax NPV(5%) of US$212.4
million and IRR of 22.8% using a base case gold price of
US$1,750/oz; Average annual gold
production of 75,900 oz Au for a total life-of-mine ("LOM")
11.2 years payable output of 851,900 oz Au; LOM cash costs of
US$809/oz Au; and, all-in sustaining
cash costs of US$957/oz Au using an
initial CAPEX of US$190 million.
On Behalf of the Company
Bassam Moubarak
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements: This
press release contains "forward‐looking information or statements"
within the meaning of Canadian securities laws, which may include,
but are not limited to statements relating to exploration, results
therefrom, and the Company's future business plans. All statements
in this release, other than statements of historical facts that
address events or developments that the Company expects to occur,
are forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects," "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ from those in the
forward-looking statements. Such forward-looking information
reflects the Company's views with respect to future events and is
subject to risks, uncertainties, and assumptions. The reader is
urged to refer to the Company's reports, publicly available through
the Canadian Securities Administrators' System for Electronic
Document Analysis and Retrieval+ (SEDAR+)
at www.sedarplus.ca for a more complete
discussion of such risk factors and their potential effects. The
Company does not undertake to update forward‐looking statements or
forward‐looking information, except as required by law.
SOURCE Freeman Gold Corp.
