Mr. William Randall reports

FREEMAN DEFINES 11 HIGH QUALITY EXPLORATION TARGETS PROXIMAL TO LEMHI RESOURCE

Freeman Gold Corp. has provided 2020 exploration results on its 100-per-cent-owned Lemhi gold project located in Idaho. During the 2020 field season a total of 633 soil samples were collected along with 145 rock grab and channel samples. Comprehensive geophysical surveys were completed, consisting of 565 line-kilometres of ground magnetics covering almost the entire property and 1.4 square kilometres of 3-D induced polarization data over the known mineralized zone. In addition, historical data compilation and interpretation were finalized and incorporated into the exploration data base. As a result of the surface exploration campaign, 11 high-quality targets have been identified, demonstrating the prospective nature of Freeman's land package. None of these targets have been drill tested to date.

Will Randall, president and chief executive officer of Freeman, commented: "The exploration results demonstrate that targets both in close proximity and further afield from the known Lemhi mineralized gold oxide zone exist throughout the property. Since Freeman is the first company to have a large consolidated land package along the major northeast structure, we feel confident we are on the right track to make additional gold discoveries."

Rock grab samples

Prospecting and sampling were completed over the entire Lemhi property. Of the 145 rock grab samples collected, 54 returned assay values greater than one gram per tonne gold and 20 greater than five g/t Au (up to 450 g/t Au). Of the 145 rock grab samples collected, 27 samples contain greater than 10 grams per tonne silver, with values up to 219 g/t Ag. Mineralization was within phyllites, quartzites and quartz veins and appears similar to that of known mineralization at Lemhi. These results have identified five new exploration target areas for priority follow-up. Follow-up exploration at each of the target areas will include but not be limited to prospecting, mapping, soil sampling and possibly drilling.

Ground magnetics

During 2020, ground magnetics were collected over the entire Lemhi property using GEM Overhauser walking magnetometers with DGPS. The regional grid was completed at 25-metre-line spacing, and the known mineralized area was completed at 12.5-metre-line spacing, totalling approximately 565 line-kilometres of magnetics.

The purpose of the survey was to identify the prospective geological boundaries and structures throughout the property. Of known importance is the boundary between the intrusion(s) and the Proterozoic meta-sediments, where the known gold mineralization at Lemhi occurs along and near the margins of the defined intrusion. Of importance throughout the region is the presence of northeast-trending structures interpreted to be associated with known mineralization throughout the region.

The survey was successful in identifying the boundary between the intrusion(s) and the Proterozoic meta-sediments, following clear extensions of the known gold mineralization at Lemhi. In addition, this boundary or contact has been mapped for seven kilometres along a major northeast-trending structure that follows the direction of important regional structures. The survey has also shown secondary west-northwest structures that intersect these major lineaments and boundaries. One such intersection occurs in the area where known gold mineralization has been defined by over 70,000 metres of drilling, while a second intersection has been interpreted 1.7 kilometres along strike and northeast of the known mineralization, such that is exhibits structural similarities to the known mineralization.

Another northwest-trending high-priority feature has been identified. Target 11 represents a 1.2-kilometre-long linear magnetic body extending north-northwest, parallel to the intrusive contact, and located within a region favourable for extrusive bodies. The wavelength of the anomaly's magnetic signal suggests that the causative body is shallow and near surface. The northern end of the magnetic anomaly is intersected by a secondary fault, paralleling the main fault. IP targets 1, 3, 9, 15 and 16 border the southern end of the magnetic anomaly, while the centre of the anomaly is coincident with IP target 2, where the main fault that borders the north end of the mineralized area appears to terminate.

Data compilation

After completing compilation of historical drill- and resource-related data, all historical data pertaining to surface exploration have been scanned and integrated into Freeman's database. The regional data identified two new additional target areas with coincidental gold in rock grab and gold in soil anomalies which were never followed up by previous operators. Historical samples at targets 3, 4 and 9 contain rock grab and chip samples with results from 0.015 g/t Au, up to 38.23 g/t Au. In total, 529 historical rock grab and chip samples were digitized of which 56 contained greater than one g/t Au.

3-D IP survey

A Dias Geophysical Ltd. 3-D induced polarization was carried out during September and October of 2020. The survey area consisted of a 1.4-kilometre-by-1.4-kilometre area centred over the area with known mineralization, which extends roughly 650 metres east-west by 500 metres north-south. The survey was designed to characterize the geophysical signature of the deposit and possibly define new areas of gold mineralization and extensions of the known mineralized zones delineated by drilling.

Two major contacts have been interpreted. The strongest one follows an east-northeast curvi-linear trend where chargeabilities are generally low and resistivities are very low to the south-southeast. This contact is also coincident with a magnetic high trend. The second major contact trends north-south, located on the west side of the survey block and is characterized by low chargeability coincident with low resistivities.

Three high-priority and two moderate-priority anomalies have been defined. The first high priority is an area of elevated resistivity that is partially coincident with the northern limit of the gold grade zone. The second is a large north-south-trending zone of high resistivity and high chargeability located at the western boundary of the survey block that is unbounded to the west. The third is a zone of high chargeability located at the eastern border of the survey block and unbounded to the east. The first moderate priority is a north-south-trending zone of high resistivity and high chargeability adjacent to the northwestern boundary of the gold grade zone that is only seen in the shallow depth slices. The second moderate priority is a zone of high chargeability that straddles the southwestern portion of the mineralized zone and is seen only on the deep depth slices. If additional gold mineralization is intersected, the IP survey should be extended to define the extent of the anomalies. As well, 3-D IP could then be used as an important exploration tool in other areas with coincident anomalies to better define buried mineralization.

Soil samples

In order to further refine targets in order to get them drill-ready, Freeman anticipates completing soil surveys over the priority target areas in order to more accurately target discovery drilling. To ensure proper results, orientation soil samples were collected in areas of known mineralization using three different soil sampling methodologies: (i) conventional B horizon sampling; (ii) ionic leach sampling; and (iii) mobile metal ion (MMI) sampling. Samples were collected every 25 metres at depths of: zero to 10 centimetres, 10 to 20 cm, 20 to 30 cm, and 30 to 40 cm. It was determined that ionic leach sampling at 20 to 40 cm would be the best sampling methodology moving forward to not only detect buried gold, silver and copper mineralization but alteration using calcium and potassium.

Freeman has mobilized crews to site to complete ionic leach soil sample surveys over certain priority targets.

About the Lemhi gold project

The Lemhi gold project lies within the Idaho-Montana porphyry belt, a northeast-trending alignment of metallic ore deposits related to granitic porphyry intrusions that extend northeasterly across Idaho related to the Trans-Challis fault system, a broad (20-to-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. The 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) and free gold is common. The mineralization remains open at depth and in multiple directions.

All rock samples were sent to ALS Global Laboratories (geochemistry division) in Vancouver, Canada, an independent and fully accredited laboratory (ISO 9001:2008) for analysis for gold by fire assay and multielement induction coupled plasma spectroscopy (select drill holes). Freeman has a regimented quality assurance, quality control program where at least 10 per cent duplicates, blanks and standards are inserted into each sample shipment.

The technical content of this release has been reviewed and approved by Dean Besserer, PGeo, vice-president of exploration for the company and a qualified person as defined by the National Instrument 43-101.

About Freeman Gold Corp.

Freeman Gold is a mineral exploration company focused on the development of its 100-per-cent-owned Lemhi gold property. The Lemhi project comprises 30 square kilometres of highly prospective land. The mineralization at the Lemhi project consists of shallow, near-surface primarily oxide gold mineralization that has seen over 355 drill holes but remains open at depth and in multiple directions. The company is working toward derisking the asset and producing a maiden National Instrument 43-101-compliant resource estimate as a result of both brownfield and greenfield exploration.

We seek Safe Harbor.