Mr. Will Randall reports

FREEMAN GOLD CORP. ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED BOUGHT DEAL PUBLIC OFFERING TO $9 MILLION

Freeman Gold Corp. has entered into an agreement with Canaccord Genuity Corp. and Stifel GMP, as co-lead underwriters, on behalf of a syndicate of underwriters, to increase the size of its previously announced bought deal financing from $6.5-million to $9-million. Pursuant to the amended terms, the underwriters have agreed to purchase 18 million common shares of the company, on a bought deal basis, pursuant to the filing of a short form prospectus, at a price of 50 cents per share.

The company has granted the underwriters an option to purchase up to an additional 2.7 million shares at the issue price, exercisable, at any time, for a period of 30 days after, and including, the closing of the offering. If this option is exercised in full, the company will receive an additional $1.35-million in gross proceeds for total aggregate gross proceeds of $10.35-million.

The shares will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Quebec, and may also be offered by way of a private placement in the United States and in such other jurisdictions outside of Canada and the United States as agreed between the company and the underwriters.

The offering is expected to close on or about July 15, 2020, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

Freeman intends to use the proceeds of the offering for exploration work on the company's Lemhi gold project in Idaho, United States, and its Comstock property in British Columbia, Canada, with additional proceeds utilized for general and administrative expenses and working capital.

About Freeman Gold Corp.

Freeman Gold is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the United States. The company has two mineral projects: the Lemhi gold project, located in Idaho, United States, comprising over 7,500 acres of patented and unpatented claims; and the Comstock property, located near Merritt, B.C., Canada.

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