FREEMAN RELEASES ASSAYS FOR FIRST 11 HOLES - EXTENDS LEMHI SHALLOW OXIDE GOLD MINERALIZATON TO THE EAST

VANCOUVER, BC, Oct. 12, 2022

VANCOUVER, BC, Oct. 12, 2022 /PRNewswire/ - October 12, 2022 – Freeman Gold Corp. (TSXV: FMAN) (FSE: 3WU) ("Freeman" or the "Company") is pleased to report it has received results for 11 diamond drill holes from the Company's 12,168 m Phase II resource expansion drill program at its 100% owned Lemhi Gold Deposit, Idaho, USA. Ten of these drill holes were designed to test mineralization on strike to the east of the known deposit (expansion holes) and one infill hole to improve the resource confidence in zones with historical drill holes (See Table 1 and Figures 1, 2 and 3.)

The expansion holes represent 20 to 80 metre step outs to the east of existing drilling where mineralization is open. These areas were previously modelled as unmineralized due to lack of drilling in the initial maiden mineral resource estimate ("MRE"). The current MRE comprises an Indicated Mineral Resource of 22.94 million tonnes at 1.02 g/t Au for 749,800 oz of gold and an Inferred Mineral Resource of 7.68 million tonnes at 1.01 g/t Au for 250,300 oz of gold (refer to press release dated July 8, 2021). The MRE covers a surface area of 400 by 500 metres and extends down to a depth of 180 metres below surface. The resource expansion holes that form the bulk of the current Phase II drill program are designed to extend this current resource both along strike and at depth.

Paul Matysek, Executive Chairman, commented, "These first ten drill holes step out up to 80 metres along strike, adding approximately 20% to the known mineralized east-west strike length. This initial batch of results gives us confidence that we will increase our overall gold resource and likely improve the economics by adding crucial ounces within our eastern pit shell boundaries. Similar drilling has been completed to test the west and north extents of the deposit and we eagerly await the results."

All holes drilled to date have intersected shallow oxide gold. Selected highlighted results from the 10 holes are 0.61 g/t Au over 90m, including 0.92 g/t Au over 15.97m (FG22-009C); 0.94 g/t Au over 41m, including 1.67 g/t Au over 17m (FG22-014C); 0.73 g/t Au over 7.5m (FG22-002C; deepest mineralization drilled to date (340m) at Lemhi); and 2.1 g/t Au over 16m (FG22-016C). Gold mineralization now extends to at least 348 metres and is open at depth. (See Table 1 and Figures 1, 2 and 3.)

Table 1 – Significant Drill Results – Lemhi East*