Freehill Mining Limited reported that Phase-1 mining operations are now underway at its 100%-owned Yerbas Buenas magnetite project in Chile with first ore sales anticipated in January 2022. After an extensive tender process, the Company has secured the services of experienced local Chilean contractor MTN Gold SpA (`MTN') to deliver a turnkey mining, crushing and ore processing services. MTN will supply all necessary mining, crushing and processing equipment so Freehill can deliver 5,000 tonnes per month of 53%-63% Fe HG fines for sale to off-takers that have already been identified. The terms of the agreement with MTN are confidential but commercially favourable to both parties. This is an excellent development for Freehill and is the culmination of many months of work and planning to ensure a sustainable and profitable mining operation can be established at Yerbas Buenas. The findings of the report by highly respected mining consultant Dean David FAusIMM, CP (Met) of DD Consulting concluded that Yerbas Buenas' ore is suitable for the production of 68%+ Fe grade pellet feed, 63% Fe grade HG fines and 53% Fe grade LG fines and this report, and today's appointment of MTN have been critical catalysts for the commencement of mining operations. MTN's immediate focus is to deal with waste rock from the proposed mine site and to undertake site preparation work so the plant and equipment can be set up and be fully operation within the next 90 days. Freehill will report a steady stream of updates as operations are established and first sales occur.