Mr. William Randall reports

FREEMAN GOLD ANNOUNCES CLOSING OF $3 MILLION STRATEGIC PRIVATE PLACEMENT

Freeman Gold Corp. has closed its strategic, non-brokered private placement offering, issuing an aggregate of 11,537,692 units at 26 cents per unit for gross proceeds of $2,999,799.92.

Each unit consists of one common share in the capital of the company and one share purchase warrant exercisable for an additional share at 35 cents for 36 months from the date of issuance. The warrants are subject to an accelerated expiry in circumstances where, at any time on or subsequent to Jan. 8, 2022, if for the preceding 10 consecutive trading days, the closing price of the shares on the Canadian Securities Exchange is equal to or greater than 80 cents, Freeman may accelerate the expiry date of the warrants by giving notice to the holders thereof that the warrants will expire on the 30th calendar day after the date of such notice.

Proceeds from the sale of the units under the offering are intended to be used for: (i) resource development, exploration, and engineering and environmental studies at the company's 100-per-cent-owned Lemhi project; and (ii) general corporate activities.

All securities issued pursuant to the offering are subject to a hold period under applicable Canadian securities laws of four months and one day, expiring on Jan. 8, 2022.

Insiders of the company participated in the offering by purchasing an aggregate of 3,914,615 units. As such, the transaction constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the offering, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25 per cent of the company's market capitalization. The company did not file a material change report more than 21 days before the closing of the offering, as the details of the participation therein by related parties of the company had not been determined until shortly prior to the closing of the offering.

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 project hosts a near-surface, shallow, high-grade oxide gold resource. The pit-constrained, National Instrument 43-101-compliant mineral resource estimate comprises 749,800 ounces of gold at 1.02 grams per tonne gold in 22.94 million tonnes (indicated) and 250,300 ounces of gold at 1.01 grams per tonne gold in 7.83 million tonnes (inferred). The company is focused on growing and advancing the Lemhi project toward a production decision. The technical content of this news release has been reviewed and approved by Dean Besserer, PGeol, vice-president of exploration of the company, a qualified person as defined by NI 43-101.

We seek Safe Harbor.