SEC Filing Document

Company: Freedom Metals Acquisition Corp.
Ticker: 
CIK: 2129659
Filing Type: S-1
Document Type: EX-99.1
Date Filed: 2026-05-15
Accession Number: 0001213900-26-057976
Exchange: 
SIC Code: 
SIC Description: 
URL: https://www.sec.gov/Archives/edgar/data/2129659/000121390026057976/ea028864801ex99-1.htm

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Exhibit 99.1

FREEDOM METALS ACQUISITION CORP.

AUDIT COMMITTEE CHARTER

I.	Purpose

The Audit Committee (the “Committee”)
of the Board of Directors (the “Board”) of Freedom Metals Acquisition Corp., a Cayman Islands exempted company (the “Company”),
shall provide assistance to the Board in fulfilling its legal and fiduciary obligations to oversee:

(a)	the accounting and financial reporting practices of the Company;

(b)	the quality and integrity of the financial statements and other financial information provided by the
Company to its shareholders, the public, any stock exchange and others;

(c)	the Company’s compliance with legal and regulatory requirements;

(d)	the qualifications and independence of the Company’s independent auditor;

(e)	the performance of the Company’s internal audit function, if any, and its system of internal controls
and independent auditor,

(f)	the appointment, compensation, performance, retention, replacement and oversight of the work of the independent
auditors and any other independent registered public accounting firm engaged by the Company;

(g)	the preparation of the report to be included in the Company’s annual proxy statement, as required
by the rules and regulations of the Securities and Exchange Commission (the “SEC”); and

(h)	such other matters as are assigned to the Committee by the Board pursuant to this Charter or as mandated
under applicable laws, rules and regulations (including the Securities Exchange Act of 1934 and the rules and regulations promulgated
thereunder, as amended (the “Exchange Act”)) as well as listing standards of The Nasdaq Stock Market LLC (together, the “Applicable
Requirements”).

The Committee shall review the disclosure required
by Item 407(d)(3)(i) of Regulation S-K ensuring its accuracy and completeness as well as compliance by the Company.

Although the Committee has
the powers and responsibilities set forth in this Charter, the role of the Committee is oversight. The members of the Committee are not
full-time employees of the Company and may or may not be accountants or auditors by profession or experts in the fields of accounting
or auditing and, in any event, do not serve in such capacity. Consequently, it is not the duty of the Committee to conduct audits or to
determine that the Company’s financial statements and disclosures are complete and accurate and are in accordance with generally
accepted accounting principles (“GAAP”) and other Applicable Requirements. These are the responsibilities of management and
the Company’s independent auditor.

II.	Organization

The Committee shall consist
of three or more directors, each of whom shall satisfy the independence, financial literacy, and other qualifications required by the
Company’s corporate governance guidelines, if any, Section 10A-3 of the Exchange Act and any other Applicable Requirements, subject
to any phase-in periods or cure periods permitted by Rule 10A-3(b)(1)(iv)(A) under the Exchange Act and other Applicable Requirements.
At least one member of the Committee shall be an “audit committee financial expert” (as defined by the SEC pursuant to the
Sarbanes-Oxley Act of 2002). Determinations of independence, financial literacy, experience and expertise shall be made by the Board as
the Board interprets such qualifications in its business judgment.

Members of the Committee shall
be appointed by the Board on the recommendation of a majority of the independent directors of the Board (if any are in office at the time).
Members of the Committee may be removed at any time by action of the Board; provided, however, that if removing a member or members of
the Committee would cause the Committee to have fewer than three members, then the Board must, based upon the recommendation of a majority
of the independent directors of the Board, at the same time appoint enough additional members to the Committee so that the Committee will
have at least three qualified members. The Committee’s chairperson shall be designated by the Board on the recommendation of a majority
of the independent directors of the Board (if any are in office at the time) or, if not so designated, the members of the Committee shall
elect a chairperson by a vote of the majority of the full Committee.

The Committee may form and
delegate authority to subcommittees from time to time as it sees fit, provided that the subcommittees are composed entirely of directors
who satisfy the applicable independence requirements of the Company’s corporate governance guidelines and the Applicable Requirements.

III.	Meetings

The Committee shall meet at
least four times per year on a quarterly basis, or as often as it determines necessary to carry out its duties and responsibilities. Meetings
shall be called by the chairperson of the Committee or, if there is no chairperson, by a majority of the members of the Committee. Meetings
may be held telephonically or by other electronic means to the extent permitted by the Company’s organizational documents and applicable
law.

A majority of the members
of the entire Committee shall constitute a quorum. The Committee shall act on the affirmative vote of a majority of members present at
a meeting at which a quorum is present. Without a meeting, the Committee may act by unanimous written consent of all members. However,
the Committee may delegate to one or more of its members the authority to grant pre-approvals of audit and non-audit services, provided
the decision is made in consultation with Company counsel and reported to the full Committee at its next scheduled meeting.

The Committee shall also meet
periodically with management, the chief internal auditor (if any) and the Company’s independent auditor in separate executive sessions
to discuss any matters that the Committee or each of these groups believe should be discussed privately.

The Committee shall maintain
minutes of its meetings and records relating to those meetings.

IV.	Authority and Responsibilities

In fulfilling its duties and
responsibilities hereunder, the Committee will be entitled to rely reasonably on (a) the integrity of those persons within the Company
and the professionals and experts (such as the Company’s independent auditor) from whom it receives information, (b) the accuracy
of the financial and other information provided to the Committee by such persons and (c) representations made by the Company’s independent
auditor as to any services provided by such firm to the Company.

To fulfill its responsibilities,
the Committee shall:

With respect to the engagement
of the Company’s independent and other auditors:

responsible for (a) the appointment, compensation, retention, (including termination), scope and oversight of the work of any independent
registered public accounting firm engaged by the Company (including for the purpose of preparing or issuing an audit report or performing
other audit, review or attestation services or other work for the Company), and (b) the resolution of any disagreements between management
and any such firm regarding financial reporting.

2. Have
the authority to review in advance and pre-approve (which may be pursuant to pre-approval policies and procedures) all audit or non-audit
services to be provided by the Company’s independent or other auditors as permitted by Section 10A of the Exchange Act and to approve
all related fees and other terms of engagement (including planning for and staffing the audit). The Committee shall also review and approve
disclosures required to be included by the Company in periodic reports filed with the SEC under Section 13(a) of the Exchange Act with
respect to audit and non-audit services.

least annually, obtain and review a formal written report from the Company’s independent auditor (a) describing such firm’s
internal quality control procedures, (b) describing any material issues raised by the most recent internal quality control review, peer
review or Public Company Accounting Oversight Board (“PCAOB”) review or inspection of such firm, or by any inquiry or investigation
by governmental or professional authorities, within the preceding five years, respecting one or more independent audits carried out by
such firm, and any steps taken to deal with any such issues, and (c) assessing such firm’s independence, including delineating all
relationships and engagements that may reasonably be thought to bear on the independence of the auditor, including those between the auditor
and the Company. The Committee shall discuss this report with the Company’s independent auditor and shall take appropriate action
to ensure the independence of the independent auditor and to address any other matters based on such report.

4. Confirm
that the “lead partner,” the “concurring partner” and the other “audit partner” rotation requirements
under the Applicable Requirements, including Regulation S-X have been complied with, set clear policies for audit partner rotation in
compliance with applicable laws and regulations, and ensure that audit partner compensation is consistent with any applicable SEC rules.

5. Review
all reports and communications required to be submitted by the Company’s independent registered public accounting firm to the Committee
under Section 10A of the Exchange Act and other Applicable Requirements.

least annually, evaluate the performance of the Company’s independent auditor, including the lead audit partner. In making its evaluation,
the Committee should take into account the opinions of management and the internal audit group (if any).

7. Review
and discuss with the Company’s independent auditor all relationships the auditor has with the Company and evaluate the auditor’s
continued independence.