Mr. William Randall reports

FREEMAN GOLD INCREASES NON-BROKERED PRIVATE PLACEMENT TO US$ 13 MILLION

Freeman Gold Corp. has increased the previously announced non-brokered private placement (Nov. 1, 2021) from $10-million (U.S.) to $13-million (U.S.). The company will issue up to 37,142,857 units at a price of 35 U.S. cents per unit.

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.

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.

The 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 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 (oz) gold (Au) at 1.02 grams per tonne (g/t) in 22.94 million tonnes (indicated) and 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes (inferred). See the NI 43-101 technical report, titled, "Maiden Resource Technical Report for the Lemhi Gold Project, Lemhi County, Idaho, USA," with an effective date of June 1, 2021, and signing date of July 30, 2021, as prepared by APEX Geoscience Ltd. and F. Wright Consulting Inc., available under the company's profile on SEDAR. 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 and a qualified person as defined by NI 43-101.

We seek Safe Harbor.