FMAN.V · 2023-01-31 12:00:00

FREEMAN EXPANDS HIGH GRADE GOLD MINERALIZATON AT THE NEWLY DISCOVERED BEAUTY ZONE Drilled eight additional holes (722 metres core in five holes; 509 metres reverse circulation in three holes) at the Beauty Zone after discovery hole FG21-003C which returned

Drill Results

FREEMAN EXPANDS HIGH GRADE GOLD MINERALIZATON AT THE

NEWLY DISCOVERED BEAUTY ZONE

Drilled eight additional holes (722 metres core in five holes; 509 metres reverse circulation in three holes) at the Beauty Zone after

discovery hole FG21-003C which returned

@ 68.23 grams per tonne gold and 40.18 grams per tonne silver, including

3.16m

128.92 g/t Au and 75.59 g/t Ag

Mineralization is continuous approximately 150 metres along strike and 115 metres down dip with the main zone having continuity

down dip and localized mineralization both above and below the main zone

Drill hole FG22-013C intersected

4.2m

@ 3.2 g/t Au including

0.6m

@ 19.6 g/t Au

Drill hole FG22-020C intersected

2.0m

@ 1.4 g/t Au including

0.5m

@ 4.7 g/t Au and 10.4 g/t Ag and 1.94% Cu

Drill hole FG22-026C intersected

0.9m

@ 4.3 g/t Au and 22.6 g/t Ag and 1.6% Cu

Drill hole FG22-056R intersected

12.19m

@ 1.49 g/t Au, including

1.52m

@ 8.04 g/t Au, which is believed to be a new zone at depth

The zone remains open down dip and on strike

Toronto Venture Stock Exchange: FMAN

VANCOUVER, BC

Jan. 31, 2023

/CNW/ - Freeman Gold Corp. (TSXV: FMAN) (OTCQX: FMANF) (FSE: 3WU) ("

Freeman

" or the "

Company

") is

pleased to report it has received results for five diamond drill holes and three reverse circulation ("

") holes totaling 1,231 metres from the

Company's follow up drill program at its newly discovered Beauty Zone,

Idaho

, USA. The drill holes were designed to test mineralization along

strike and down dip of the known discovery hole (FG21-003C) which returned

@ 68.23 grams per tonne gold ("

g/t Au

") and 40.18 grams per

tonne silver ("

g/t Ag

"), including

3.16m

@ 128.92 g/t Au and 75.59 g/t Ag (see news release dated

March 22, 2022

). The Beauty Zone is part of a

350 metre by 250 metre coincidental gold in rock and soil anomaly which is open to the south, southwest and east. Drilling now shows three

distinct mineralized zones - Upper, Main and Lower zones (Figure 1). The main zone projects to surface where 28 rock grab samples contained

more than 10 g/t Au (up to 450 g/t Au). Table 1 shows the intercepts from current drilling, Figure 1 is a cross section and Figure 2 is a longitudinal

section.

Paul Matysek

, Executive Chairman, commented, "We are excited to have demonstrated continuity of the high-grade mineralization along strike and

at depth at the Beauty Zone. The zone occurs near surface and in close proximity to our core

Lemhi

project. We will look at the Beauty Zone as

additional high grade ounces that may be incorporated into our PEA."

All holes drilled to date have intersected shallow oxide gold. Selected highlighted results from the eight holes are:

4.2 m

@ 3.2 g/t Au, including

0.6m

@ 19.6 g/t Au

(FG22-013C);

2.0m

@ 1.4 g/t Au, including

0.5m

@ 4.7 g/t Au, 10.4 g/t Ag and 1.94 percent copper ("% Cu")

(FG22-

020C);

0.9m

@ 4.3 g/t Au, 22.6 g/t Ag and 1.6% Cu

(FG22-026C) and

12.19m

@ 1.49 g/t Au, including

1.52m

@ 8.04 g/t Au (FG22-056R;

newly discovered Lower Zone; see Figure 1)

. Gold mineralization at the Beauty Zone now extends approximately 150 metres along strike and

115 metres down dip and is open at depth and along strike to the north. The drill section and long section attached show the continuous nature of

the zone downdip (Figure 1 and 2). The zone does continue to exhibit structural complexity and poor recoveries due to the faulting.

Table 1 – Drill Results – The Beauty Zone*

DRILL HOLE

DEPTH

(METRES)

DIP

AZIMUTH

FROM

HIGHLIGHT

FG22-056R

198.12

-70

53.34

56.39

3.05m @ 0.6 g/t Au

Beauty

59.44

60.96

1.52m @ 0.59 g/t Au

76.2

77.72

1.52m @ 0.29 g/t Au

129.54

141.73

12.19m @ 1.49 g/t Au

including

135.64

137.16

1.52m @ 8.04 g/t Au

FG22-057R

158.5

-70

88.39

91.44

3.05m @ 0.26 g/t Au

Beauty

99.06

100.584

1.52m @ 0.36 g/t Au

114.3

115.824

1.52m @ 3.07 g/t Au

FG22-058R

152.4

-67

7.62

9.14

1.52m @ 0.28 g/t Au

Beauty

39.62

41.15

1.52m @ 0.49 g/t Au

62.48

65.53

3.05m @ 0.36 g/t Au

79.248

80.772

1.52m @ 0.36 g/t Au

106.68

109.73

3.05m @ 0.53 g/t Au

FG22-013C

147.52

-70

255

11m @ 1.26 g/t

Beauty

Including

96.61

92.71

0.6 m@ 19.6 g/t

97.21

4.21m @ 3.17 g/t

104

105

1m @ 0.52

134

135

1m@ 1.47 g/t

FG22-015C

209.31

-76

300

1m @ 0.2

Beauty

1m @ 0.35

103

105

2m @ 0.84

FG22-020C

160.02

-74

275

2m @ 1.44

Beauty

1m @ 0.26

110

114

4m @ 0.48

FG22-023C

91.14

-65

300

NSR - hit adit

Beauty

FG22-026

113.54

-80

230

9.36

10.21

0.85m @ 4.3 g/t Au; 22.6 g/t Ag; and, 1.6% Cu

Beauty

1m @ 0.5 g/t Au

*Intervals are core-length. True width is estimated between 90-95 percent ("%") of core length. Numbers rounded to one decimal place. Using 0.25 g/t Au cut-off; 10 g/t Ag and 0.1% Cu.

Lemhi Gold Deposit:

As of

December 2022

a total of 50 new core drill holes for a total of 12,168 metres and 10 RC holes totalling 1,621.5 metres were completed at

Lemhi

. These holes have been primarily designed to test on strike extensions of the known resource as well as infill in certain parts of the gold

deposit. In particular, the drill program has focused on areas currently modelled as pit waste because of no or sparse drill data. All ounces added

in these areas, even if close to the cut-off grade, will add value to the project as they come from zones in the resource shell that can now be

upgraded to resources (Figures 1 and Table 1). This marks the completion of the Phase 3 RC drill program which was concluded in December due

to inclement weather and drilling issues. Additionally, eight holes (five core drill holes and three RC) were drilled at the Beauty Zone totalling 1,231

metres.

All drill core samples are sent to ALS Global Laboratories (Geochemistry Division), an independent and fully accredited laboratory (ISO

9001:2008) for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy, in

Vancouver, Canada

. Freeman has a

regimented Quality Assurance, Quality Control (QA/QC) program where at least 10% duplicates, blanks and standards are inserted into each

sample shipment.

Figure 1.

Beauty Zone Drill Section (CNW Group/Freeman Gold Corp.)

Figure 2.

Beauty Zone Long Section (CNW Group/Freeman Gold Corp.)

About the Company and Project

Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property (the "

Project

"). The

Project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit constrained National

Instrument 43-101 ("

NI 43- 101

") compliant mineral resource estimate is comprised of 749,800 oz gold ("

") 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 (

www.sedar.com

). The Company is focused on growing and advancing the Project towards a production decision. The technical content of this

news release has been reviewed and approved by

Dean Besserer

, P.Geo., VP Exploration of the Company and a Qualified Person as defined by

NI 43- 101.

On Behalf of the Company

William Randall

President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This press release contains "forward–looking information or statements" within the meaning of Canadian

securities laws, which may include, but are not limited to statements relating to exploration, results therefrom, and the Company's future

business plans. All statements in this release, other than statements of historical facts that address events or developments that the Company

expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but

not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar

expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations

expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance

and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with

respect to future events and is subject to risks, uncertainties, and assumptions. The reader is urged to refer to the Company's reports, publicly

available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at

www.sedar.com

for a more complete discussion of such risk factors and their potential effects. The Company does not undertake to update forward–looking

statements or forward–looking information, except as required by law.

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SOURCE

Freeman Gold Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/January2023/31/c6594.html

%SEDAR: 00047230E

For further information:

please visit the Company's website at www.freemangoldcorp.com or contact Mr. Tom Panoulias at 416-294-5649 or by

email at: [email protected].

CO: Freeman Gold Corp.

CNW 07:30e 31-JAN-23

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