FMAN.V · 2023-01-17 12:00:00

FREEMAN EXTENDS LEMHI SHALLOW OXIDE GOLD MINERALIZATION TO THE SOUTH Expansion and infill drilling successfully extends known mineralization at Lemhi 350 metres south and southwest of previous drilling by Freeman Phase 2 diamond drill holes continue to intersect shallow oxide gold mineralization wit

Drill Results

FREEMAN EXTENDS LEMHI SHALLOW OXIDE GOLD

MINERALIZATION TO THE SOUTH

Expansion and infill drilling successfully extends known mineralization at

Lemhi

350 metres south and southwest of

previous drilling by Freeman

Phase 2 diamond drill holes continue to intersect shallow oxide gold mineralization within existing resource pit

boundaries both along strike and at depth

FG22-022C returned 5.95 g/t Au over

9.14m

FG22-061R returned 2.4 g/t Au over

13.72m

FG22-050C returned 1.22 g/t Au over

38.59m

, including 2.73 g/t Au over

10m

FG22-048C returned 0.98 g/t Au over

17m

, including 2.1 g/t Au over

VANCOUVER, BC

Jan. 17, 2023

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

Freeman

" or

the "

Company

") is pleased to report results for an additional 15 diamond drill holes from the Company's

12,000m

Phase II

resource expansion and infill drill program at its 100% owned Lemhi Gold Deposit ("

Lemhi

"),

Idaho, USA

. These drill holes were

designed to test mineralization on strike to the south and southwest of the known deposit (expansion and infill holes) to improve

the resource confidence in zones with historical drill holes and expand mineralization (Figure 1 and Table 1).

The infill and expansion holes represent drilling up to 350 metres to the south and southwest of previous drilling by Freeman where

mineralization was open and untested by drilling. Many of these areas are 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, "We have very encouraging and more positive results from the latest assays from

the recent drilling. The results to date clearly show gold mineralization is now known to extend east, west and south at Lehmi. The

Lemhi

gold deposit is expanding in all directions and we are confident that it will positively impact the updated Mineral Resource

which will be underway once all assays have been received."

All holes drilled to date have intersected shallow oxide gold. Selected highlighted results from the 15 holes are:

5.95

g/t Au over

9.14m

(FG22-022C);

0.9 g/t Au over

23m

, including 1.39 g/t Au over

13m

(FG22-037C);

0.54 g/t Au over 19

m, including 1.0

g/t over

8.0m

(FG22-038C);

0.59 g/t Au over 19

(FG21-045C);

0.98 g/t Au over

17m

, including 2.1 g/t Au over

(FG22-

048C);

1.22 g/t Au over

38.59m

, including 2.73 g/t Au over

10m

(FG22-050C), and

2.4

g/t Au over

13.72m

(FG22-061R).

Table 1 – Significant Drill Results – Lemhi South*

DRILL HOLE

DEPTH

(METRES)

DIP

AZIMUTH

FROM

HIGHLIGHT

FG22-022C

159.26

-80

1m @ 0.7 g/t Au

Expansion

3m @ 0.22 g/t Au

121.31

130.45

9.14 @ 5.95 g/t Au

FG22-037C

244.75

-90

360

2m @ 0.82 g/t Au

Expansion

108

23m @ 0.9 g/t Au

Including

106

13m @ 1.39 g/t Au

137

163

26m @ 0.55 g/t Au

173

176

3m @ 0.5 g/t Au

192

193

1m @ 0.21 g/t Au

201

216

15m @ 0.53 g/t Au

226

229

3m @ 1.5 g/t Au

FG22-038C

226.92

-59

270

2m @ 0.41 g/t Au

Infill

5m @ 0.34 g/t Au

19m @ 0.54 g/t Au

including

8m @ 1 g/t Au

145

147

2m @ 0.22 g/t Au

194

205

11m @ 0.25 g/t Au

213

214

1m @ 1.06 g/t Au

FG22-039C

226.02

-90

360

10m @ 0.21 g/t Au

Infill

113

123

10m @ 0.35 g/t Au

143

144

FG22-040C

222.35

-65

101

104

3m @ 0.42 g/t Au

Expansion

136

139.2

3.2m @ 0.65 g/t Au

142.76

144

1.24m @ 0.35 g/t Au

171.3

174

2.7m @ 0.2 g/t Au

FG22-041C

163.68

-85

270

0.77

14.23m @ 0.61 g/t Au

Expansion

33.22

1.22m @ 0.42 g/t Au

1m @ 0.21 g/t Au

5m @ 0.58 g/t Au

114

115

1m @ 0.29 g/t Au

116

117

1m @ 0.24 g/t Au

FG22-043C

172.52

-90

360

3m @ 0.47 g/t Au

Expansion

4m @ 0.62 g/t Au

131.64

138

6.36m @ 0.61 g/t Au

152

157

5m @ 1.14 g/t Au

FG22-045C

218.54

-90

360

9m @ 0.16 g/t Au

Infill

106

19m @ 0.59 g/t Au

134.18

140

5.82m @ 0.22 g/t Au

179

183

4m @ 0.44 g/t Au

189

194

5m @ 0.29 g/t Au

FG22-047C

165.2

-90

360

114

123

9m @ 0.46 g/t Au

Infill

including

118.87

122

3.13m @ 1.04 g/t Au

134

135

1m @ 0.26 g/t Au

140

148

8m @ 1.99 g/t Au

FG22-048C

221.44

-90

360

2m @ 0.24 g/t Au

Infill

2m @ 0.94 g/t Au

17m @ 0.98 g/t Au

including

5m @ 2.1 g/t Au

115

116

1m @ 0.21 g/t Au

139

142

3m @ 1.38 g/t Au

178

179

1m @ 1.01 g/t Au

207

209

2m @ 0.21 g/t Au

217

2m @ 0.27 g/t Au

FG22-049C

200.71

-80

270

34m @ 0.33 g/t Au

Infill

1m @ 1.4 g/t Au

3m @ 0.24 g/t Au

2m @ 0.28 g/t Au

125

126

1m @ 0.33 g/t Au

FG22-050C

222.35

-90

360

3m @ 0.33 g/t Au

Infill

7m @ 0.21 g/t Au

3m @ 1.08 g/t Au

1m @ 0.29 g/t Au

4m @ 0.22 g/t Au

116.59

38.59m @ 1.22 g/t Au

Including

103

10m @ 2.73 g/t Au

114

116

2m @ 4.21 g/t Au

137

138.58

1.58m @ 0.5 g/t Au

169.84

172

2.16m @ 0.35 g/t Au

175.04

180

4.96m @ 0.75 g/t Au

201

204

3m @ 0.41 g/t Au

220

221

1m @ 0.23 g/t Au

FG22-052C

9.6

-90

360

LOST HOLE

FG22-053C

221.89

-90

360

6m @ 0.18 g/t Au

Expansion

1m @ 0.23 g/t Au

2m @ 0.34 g/t Au

46.97

2.03m @ 0.24 g/t Au

3m @ 0.31 g/t Au

1m @ 0.67 g/t Au

1m @ 0.28 g/t Au

107

120

13m @ 0.8 g/t Au

including

107

114

7m @ 1.28 g/t Au

132

135

3m @ 0.5 g/t Au

149

150

1m @ 0.25 g/t Au

174

186

12m @ 0.81 g/t Au

FG22-061R

161.54

-90

360

18.288

19.812

1.52m @ 0.2 g/t Au

Infill

21.34

24.38

3.05m @ 0.22 g/t Au

42.67

60.96

18.29m @ 0.29 g/t Au

74.68

88.39

13.72m @ 2.4 g/t Au

118.87

129.54

10.67m @ 0.37 g/t Au

*Intervals are core-length. True width is estimated between 90-95 percent ("%") of core length. Using 0.2 g/t Au cut-off. 'C' denotes core hole; 'R' denotes RC

(Reverse Circulation) hole.

Lemhi Gold Deposit:

As of

December 2022

, a total of 50 new core drill holes for a total of 12,168 metres as well as 10 reverse circulation holes

totalling

1,621.5m

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.

All drill holes from the project have been logged, sampled and sent to the laboratory. Analytical results are pending.

Figure 1. Lemhi 2021-22 Drilling - Southern Expansion (CNW Group/Freeman Gold Corp.)

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

(ISO 9001:2008), in

Vancouver, Canada

, for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma

Spectroscopy (select drill holes). 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.

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/January2023/17/c3634.html

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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 17-JAN-23

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