Vancouver, British Columbia--(Newsfile Corp. - October 28, 2026) - Freedom Gold Corp. (CSE: FRDM) (the "Company" or "Freedom"), is pleased to announce that further to its news release dated October 13, 2026, it has settled outstanding bona fide debts owing to current and past directors of the Company (the "Creditors") for services rendered in such capacity through the issuance of common shares of the Company (the "Debt Settlement") on October 27, 2026. Pursuant to the Debt Settlement, the Company issued an aggregate of 213,790 common shares of the Company (the "Debt Settlement Shares") at a deemed price of $0.12 per Debt Settlement Share in full satisfaction of an aggregate amount of $25,654.89 owing to such Creditors.

The Debt Settlement Shares to be issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities laws. Completion of the Debt Settlement remains subject to customary closing conditions and regulatory approvals, including acceptance of the Canadian Securities Exchange (the "CSE").

Michel Lebeuf, a director and insider of the Company participated indirectly in the Debt Settlement and has received 88,790 Debt Settlement Shares. The participation of Mr. Michel Lebeuf constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Corporation is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on sections 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves each of the significant shareholders, is not more than 25% of the Corporation's market capitalization. Additionally, the Corporation is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(1)(a) as the fair market value of the transaction, insofar as it involves each of the significant shareholders, is not more than 25% of the Corporation's market capitalization.

The Debt Settlement was previously approved by the board of directors of the Corporation, including disinterested directors. No special committee was established in connection with the transaction, and no materially contrary view was expressed or made by any director.

The Company expects that closing of the Debt Settlement will occur within 21 days of this press release and that it will not file a material change report in respect of the related party transactions at least 21 days before the closing. The Company deems this circumstance reasonable in order to complete the Debt Settlement in an expeditious manner.

The Debt Settlement Shares have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. This release does not constitute an offer to sell or a solicitation of

About Freedom Gold Corp.

Freedom Gold Corp. is a leading exploration and development company focused on unlocking the vast potential of gold resources. With a strategic approach to resource management and a commitment to sustainable practices, Freedom is dedicated to driving innovation and delivering value for its stakeholders. Founded in 2020, its mineral properties are located in Quebec and Nova Scotia, regions renowned for its rich deposits of these valuable resources. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca).

On Behalf of the Board of Directors

Forward-Looking Statements

All statements in this press release about anticipated future events or results constitute forward-looking statements including, but not limited to, statements with respect to: statements regarding: receipt of all required regulatory approvals, including acceptance of the CSE. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements. Although Freedom believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Freedom can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Freedom's periodic filings with Canadian securities regulators. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Freedom does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

The CSE has not reviewed, approved or disapproved the contents of this news release.

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