Mr. William Randall reports

FREEMAN GOLD ANNOUNCES US$10 MILLION NON-BROKERED PRIVATE PLACEMENT FOR LEMHI RESOURCE EXPANSION

Freeman Gold Corp. has arranged a non-brokered private placement of up to 28,571,428 units at a price of 35 U.S. cents per unit for gross aggregate proceeds of up to $10-million (U.S.).

Each unit will consist of one common share of the company and one-half of one share purchase warrant, with each warrant entitling the holder thereof to purchase one share for a period of 60 months from closing at a price of 65 U.S. cents per share. The company anticipates closing the offering in late November, 2021.

"Proceeds from this private placement will enable us to immediately embark on an aggressive resource expansion drill program to test the full extent of oxide gold mineralization at Lemhi which remains open in all directions. Our primary goal is to define two million leachable gold ounces near surface within open pit mining depth. Furthermore, we shall drill test other satellite targets that include the highly prospective Beauty zone, optimize metallurgical studies and complete an economic analysis," stated Paul Matysek, executive chairman.

The company intends to use the proceeds from the offering for project development at its 100-per-cent-owned Lemhi project (as defined below), including: resource expansion and definition drilling, engineering, metallurgical and environmental studies, property wide exploration, and for general corporate activities.

Completion of the offering remains subject to the approval of the Canadian Securities Exchange. The shares, including those underlying the warrants, and the warrants issued by the company under the offering will be subject to a four-month-and-one-day hold from the closing date of the offering as prescribed by applicable securities laws. Additionally, the company anticipates making an application to list the warrants for trading on the CSE following expiration of the statutory hold period applicable to the warrants.

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 gold at 1.02 grams per tonne in 22.94 million tonnes (indicated) and 250,300 oz Au at 1.01 grams per tonne Au 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, exploration, of the company and a qualified person as defined by NI 43-101.

We seek Safe Harbor.