INVESTOR

MARCH 2021 DECK

2019
BUILDING HIGH-GRADE, NEAR-SURFACE INVESTOR PRESENTATION
I N V IN
E IDAHO
S T O R D E C K [CSE:
2 0 1 9 FMAN, FWB: 3WU,
OXIDE GOLD OUNCES OTC: FMANF]
 Disclaimer
This corporate presentation and the information contained herein (the “Presentation”) is confidential proprietary and for authorized use only. It is being provided for the use of prospective investors solely for such investors’ confidential use, with the
express understanding that, without the prior permission in writing from Freeman Gold Inc. (“Freeman Gold” or the “Company”), the investor will not copy this document or any portion of it or use any information contained herein for any purpose other
than evaluating a potential investment in securities of Freeman Gold. Under no circumstances are its contents to be reproduced or distributed to the public, media or potential investors without written authorization from the Company. Any failure to
comply with this restriction may constitute a violation of applicable securities laws. Recipients are required to inform themselves of, and comply with, all such restrictions or prohibitions and Freeman Gold does not accept liability to any person in
relation thereto.

This Presentation provides general background information about the activities of Freeman Gold. Information disclosed in this Presentation is current as of April 16, 2020, except as otherwise provided herein and Freeman Gold does not undertake or
agree to update this Presentation after the date hereof. All information is derived solely from management of Freeman Gold and otherwise publicly available third-party information that has not been independently verified by the Company. Further, it
does not purport to be complete nor is it intended to be relied upon as advice (legal, financial, tax or otherwise) to current or potential investors. Each prospective investor should contact his, her or its own legal adviser, independent financial adviser or
tax adviser for legal, financial or tax advice.

No representation or warranty, express or implied, is made or given by or on behalf of Freeman Gold or any of its affiliates, directors, officers or employees as to the accuracy, completeness or fairness of the information or opinions contained in this
Presentation and no responsibility or liability is accepted by any person for such information or opinions. No person has been authorized to give any information or make any representations other than those contained in this Presentation and, if given
and/or made, such information or representations must not be relied upon as having been so authorized.

This Presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. This information and these statements, referred to herein as “forward looking statements”, are made as of the date of this Presentation
or as of the date of the effective date of information described in this presentation, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding
future events and include, without limitation, statements with respect to Freeman Gold’: (i) financial results, future financial position and expected growth of cash flows; (ii) business strategy, including budgets, projected costs, projected capital
expenditures, taxes, plans, objectives, potential synergies and industry trends; (iii) research and development, including the Company’s development of its technology, and the success of any clinical trials associated therewith; (iv) expectations
concerning the size and growth of the global security/protection market, the effectiveness of the Company’s technology compared to its competitors’ products and the laws and regulations governing the development, production, sale and
use of the Company’s technology; and (v) ability to commercialize its products and navigate potential growth opportunities.
This presentation contains certain information pertaining to historical results. The historical results are not contained in a National Instrument 43-101 technical report and therefore should not be relied upon for assessing the merits of the Lemhi Project.
The historical results are provided for context only.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", “projects”, “targets”, "forecasts", "intends",
"anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results “likely”, "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information
is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking information, including without limitation: (i) the availability and continuity of financing; (ii) the effectiveness of the
Company’s technology and the Company’s ability to bring its technology to commercial production; and (iii) continued growth of the global security/protection market; and (iv) a continued minimal regulatory/legal burden concerning the
development, production, sale and use of the Company’s technology.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. Freeman Gold and its directors, officers and employees disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as
required by applicable law. Accordingly, current and potential investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. All forward-looking information is expressly qualified in its entirety by this
cautionary statement.

This Presentation does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The technical content of this presentation has been reviewed and approved
by Dean Besserer, P.Geol., who is a Qualified Person as defined by National Instrument 43-101.

Cautionary Statement Regarding Technical Information

This presentation contains historical information on resource estimates made prior to Freeman acquiring the Lemhi Gold Project. Historical resource estimates from the 1980s and 1990s were completed prior to the implementation of NI 43-101 and the
construction of the CIM Estimation of Mineral Resource & Mineral Reserve Best Practices Guidelines, updated November 29, 2019, along with the most recent CIM Definition Standards on Mineral Resources & Mineral Reserves dated May 10, 2014. These
historical resource estimates use resource categories different from those defined by the CIM Definition Standards. In addition, even the most recent resource estimates that were completed on behalf of Lemhi Gold Trust in 2012 and 2013, were
informal estimates that were not properly documented in any NI 43-101 Technical Report and were completed prior to the most recent CIM Guidelines of 2019, and CIM Definition Standards of 2014. A qualified person has not done sufficient work to
classify any of the estimates discussed below as current mineral resources or reserves as per the CIM Definition Standards for Mineral Resources & Mineral Reserves (2014) and the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice
Guidelines. A qualified person, has not done sufficient work to classify any of the estimates discussed in this presentation as current mineral resources or reserves and these estimates are being treated as historical in nature and not current mineral
resources or mineral reserves. Accordingly, these historical estimates are presented only for the purposes of assisting in describing the extent of gold mineralization and to outline the exploration potential. These estimates should not be relied upon.
For details regarding key assumptions, parameters and methods used to estimate the historical mineral resources presented in respect of the Lemhi Gold Project, please see the “Technical Report for the Lemhi Gold Project, Lemhi County, Idaho, USA”,
dated effective as of December 31, 2019. The “qualified person” for the purposes of NI 43-101 is Michael Dufresne, M.Sc., P.Geol., P.Geo of Apex Geoscience Ltd. The full content of this report may be accessed through Freeman’s SEDAR profile at
www.sedar.com 02
 Lemhi Gold Project - Idaho, USA

• 100% owned advanced project: previous drilling >70,000 metres; historical

resources up to 1.2Moz and 1.3 gpt Au

• 7,000 metre resource classification drill program completed Q4 2020

• Shallow high-grade oxide gold mineralization intersected: 2.5 g/t over
151m, including 25 g/t over 8.7m (FG20-017C); 0.9 g/t Au over 174.2m,
including 3.9 g/t Au over 18.5m (FG20-008C); 3.4 g/t Au over 51.6m
(FG20-002C); 1.1 g/t over 189.1m (FG20-006C)

• Maiden 43-101 compliant resource estimate in Q2 2021

• Permitting advantage: open pit, heap leachable historical resource
primarily on patented claims, where Freeman owns mineral and surface
rights

• Gold recoveries >95% indicated by historical metallurgical test work

• Top tier management team with impressive track record of success in the
mining industry
03
 Phase 2 to follow

Looking Forward • Second phase of drilling will commence targeting

brownfields intercepts on strike and at depth

Phase 1 Complete • This round of drilling will focus on areas outside of

• 7,149m of oriented diamond drilling completed in 35 drill the initial resource already identified by historical
holes in 2020 drilling

• The drill program is designed to upgrade historic • Target is to increase the maiden compliant resource
resource estimate with initial twin and infill drilling to 1.5M-2M oz of contained gold
within the main zone
• Maiden NI43-101 compliant resource estimated to Fastrack to Production - the Lemhi advantage
be completed Q2-2021.
• Over 90% of known mineralization located within
• Targeting the near surface, potentially open pit, oxide patented claims, offering a distinct permitting
gold mineralization advantage

• Studies and work completed by previous operators

Assay result highlights of core from 34 diamond drill holes on offer a superior starting point
the Freeman Gold’s 100% owned Lemhi Gold Project located
in Idaho: • Metallurgical testing indicates excellent leach
• 2.5 g/t over 151m, including 25 g/t over 8.7m (FG20-017C); response amenable to heap leach or column
leach processing
• 0.9 g/t Au over 174.2m, including 3.9 g/t Au over 18.5m (FG20-008C);
• 3.4 g/t Au over 51.6m (FG20-002C), and; Freeman Gold is targeting high quality, near surface
ounces in a top tier jurisdiction led by a highly
• 1.1 g/t over 189.1m (FG20-006C)
accomplished and experienced team with a track
record of success.
04
 Share Structure As at 13 January 2021

FREEMAN GOLD (FMAN,CSE)* 81,413,814

Stock Options 5,140,000

Warrants 5,789,981

FULLY DILUTED 92,343,795

Cash Position (as at 31 August, 2020) $8,500,000

Management and insider

ownership: Strategic shareholder

20% 5%

0305
Management
Will Randall Dean Besserer Bassam Moubarak
PRESIDENT, CEO & DIRECTOR VICE PRESIDENT OF EXPLORATION CHIEF FINANCIAL OFFICER & DIRECTOR
Geologist with 20 years of experience and successful track record of project QP with more than 2 decades of exploration experience working in over 50 Seasoned executive who, as CFO, was instrumental in the sale of Lithium X
development; most recently acquired, discovered and led the development of countries leading projects with annual exploration budgets exceeding $20 Energy, Goldrock Mines and Petaquilla Copper.
Lithium X Energy’s projects. million U.S

Tom Panoulias Paul Matysek

VICE PRESIDENT OF CORPORATE DEVELOPMENT STRATEGIC ADVISOR
Capital markets professional involved in raising over $1B for issuers in the Developed and sold 5 public companies creating over $2.8 billion in shareholder
mining sector over his 15 years in the industry. value, most recently as Executive Chairman of Lithium X Energy

06
Directors
Victor Cantore Ronald Stewart
DIRECTOR DIRECTOR
• Seasoned capital markets professional specializing in the resource and • Over 30 years international experience in the mining and capital markets industry, with
high-tech sectors. over 20 years direct mining operations experience, including operations management,
• Over 25 years of advisory and leadership experience, having begun his project construction and development, exploration, feasibility analysis and evaluations.
career in 1992 as an investment advisor and then moving into • Eight years in the equity capital markets.
management roles at both public and private companies. • Wide range of hands-on experience in both underground and open pit mining
• Organized and structured numerous equity and debt financings, mergers operations including mine design and production planning, capital and operating
and acquisitions, joint venture partnerships budgets, feasibility and expansion studies, financial analysis and property valuation.
• and strategic alliances. • Extensive experience in public, media and government relations and was directly
• Serves on the boards of various companies both private and public responsible and credited with the greenfields discovery of a 3 million ounce gold mine
in Ontario.
• Managed a team on the discovery of a 4 million-ounce gold mine in Western Australia.

Simon Marcotte Will Randall

DIRECTOR DIRECTOR
• Over 20 years of capital market experience.
• Partner of Cormark Securities for four years in institutional equity sales

•
and also sat on their board of directors.
8 years experience as a Director for CIBC World Markets in Montreal
Bassam Moubarak
• Holds a B.A.A. from Sherbrooke University and is a Chartered Financial DIRECTOR
Analyst.
• Currently a Director of Arena Minerals and has been involved, either as a
director or an officer, with MasonGraphite, Belo Sun Mining, Alderon
IronOre, Copper One and others

07
Idaho USA
Lemhi Gold Project is strategically located
in the heart of Lemhi County, Idaho

• Idaho is one of the top ranked jurisdictions

globally with an extensive and rich mining
history.

• Idaho earned the following rankings on the 2019

Fraser Institute Mining Survey:
• No. 8 in the world and No. 3 in North America
on the Mining Attractiveness Index.
• No. 8 on the Investment Attractiveness Index.
• No. 7 on the Policy Perception Index.

• This prolific area is in close proximity to Revival

Gold (Beartrack-Arnett Project), Barrick, Agnico
Eagle among others.

08
 Project History
Placer Gold
Discovered Northern Vertex
1867; Lode 1880’s sells 51% share to
Idaho State Gold
Company LLC
Northern Vertex JV (2013)
Meridian Gold Depressed (Lemhi Gold Trust)
FMC Explored American Gold
acquires gold prices 2011, 10,531m
Property 1984 - 1991 Resources (AGR) Freeman Gold
AGR 1997 1997 - 1998 Drilling (2012)
(148 Drill Holes) Initial Gold 1991 - 1996 acquires The
Resource Properties in
2019

130 drill holes Environmental Project put on hold by No group has owned
pre-feasibility Baseline studies Meridian Gold the unpatented
and patented Mining
claims at the same time

11
 Historical Resource with Upside

SOURCE CATEGORY* GRADE opt (g/t) TONS (TONNES) CUT-OFF opt (g/t) OUNCES*

32,361,539 0.003 - 0.012

‘’Geological Resource’’ 0.0375 (1.29) 1,217,704
(29,357,894) (0.1 - 0.4)
1996 AGR (Pincock Allen
Holt PAH - Sandefur, 1996)
13,649,974 0.003 - 0.012
‘’In-pit Geological Resource’’ 0.0385 (1.32) (0.1 - 0.4) 525,938
(12,383,048)

1996 AGR (Independent ‘’In-pit Potential 15,031,000

0.036 (1.23) 0.011 (0.38) 542,620
Mining Consultants) Mineable Resource’’ (13,635,894)

21,003,440
Indicated 0.025 (0.87) 0.004 (0.14) 529,300
2012 LGT (Pratical Mining (19,054,000)
Swanson et al. 2012)
14,083,130
Inferred 0.020 (0.69) 0.004 (0.14) 281,000
(12,776,000)

24,222,402
Measured & Indicated 0.024 (0.81) 0.006 (0.20) 569,631
(21,974,200)
2013 LGT (Pratical Mining)

Inferred 0.018 (0.61) 13,781,831 0.006 (0.20) 268,959

*All resources are considered historical in nature and should not be relied upon. Resources completed prior to 2013 either do not use categories as set out in in the CIM Definition Standards on Mineral Resources & Mineral Reserves (2014), and/or are outdated due to subsequent drilling.
**opt = troy ounces per short ton, gpt or g / t = grams per metric tonne.
***Historical resource estimates from the 1980s and 1990s were completed prior to the implementation of NI 43-101 and the construction of the CIM Estimation of Mineral Resource & Mineral Reserve Best Practices Guidelines, updated November 29, 2019, along with the most recent CIM
Definition Standards on Mineral Resources & Mineral Reserves dated May 10, 2014. These historical resource estimates use resource categories different from those defined by the CIM Definition Standards. In addition, even the most recent resource estimates that were completed on behalf of
Lemhi Gold Trust in 2012 and 2013, were informal estimates that were not properly documented in any NI 43-101 Technical Report and were completed prior to the most recant CIM Guidelines of 2019, and CIM Definition Standards of 2014. A qualified person has not done sufficient work to
classify any of the estimates discussed below as current mineral resources or reserves as per the CIM Definition Standards for Mineral Resources & Mineral Reserves (2014) and the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines.

10
 Lemhi grade advantage…

FREEMAN GOLD
historical resources up to
1.3 gpt Au*
GLOBAL OXIDE GOLD
DEPOSITS (Modified from Clarus, January
14, 2021)

*All resources are considered historical in nature and should not be relied upon. Resources completed prior to 2013 either do not use categories as set out in in the CIM Definition Standards on Mineral Resources & Mineral Reserves (2014), and/or are outdated due to subsequent
drilling.
**opt = troy ounces per short ton, gpt or g/t = grams per metric tonne.
***Historical resource estimates from the 1980s and 1990s were completed prior to the implementation of NI 43-101 and the construction of the CIM Estimation of Mineral Resource & Mineral Reserve Best Practices Guidelines, updated November 29, 2019, along with the most recent
CIM Definition Standards on Mineral Resources & Mineral Reserves dated May 10, 2014. These historical resource estimates use resource categories different from those defined by the CIM Definition Standards. In addition, even the most recent resource estimates that were
completed on behalf of Lemhi Gold Trust in 2012 and 2013, were informal estimates that were not properly documented in any NI 43-101 Technical Report and were completed prior to the most recant CIM Guidelines of 2019, and CIM Definition Standards of 2014. A qualified person
has not done sufficient work to classify any of the estimates discussed below as current mineral resources or reserves as per the CIM Definition Standards for Mineral Resources & Mineral Reserves (2014) and the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice 11
Guidelines.
 Phase 1: Diamond Drill Program
Complete
• 7,200m of twin and infill drilling which combined with over
193.55m @ 1.8 g/t Au 179.83m @ 1.81 g/t Au
70,000m of historical drilling will be used for maiden NI43-
59.44m @ 3.55 g/t Au
19.81m @ 4.98 g/t Au
54.96m @ 4.28 g/t Au 101 resource estimate

57.91m @ 2.32 g/t Au

149.35m @ 1.06 g/t Au
74.68m @ 1.74 g/t Au
10.66m @ 7.06 g/t Au

13.72m @ 15.19 g/t Au 143,26m @ 1.09 g/t Au

38.1m @ 2.35 g/t Au

10.67m @ 5.62 g/t Au 53,34m @ 2.33 g/t Au

21,33m @ 1,78 g/t Au

152.86m @ 1.06 g/t Au

38.1m @ 2.36 g/t Au

Significant Drill Results

12.19m @ 5.46 g/t Au

32.01m @ 2.54 g/t Au

12
Phase 1: Resource Diamond Drilling

• Near surface
mineralization
hosting oxide gold

• Flat lying high grade

mineralization

• Amenable to openpit
mining

• Multiple high grade intervals

close to surface

• Mineralization open on
strike and at depth

• Phase 1 drilling focusing on

historical resource area

13
 Phase 2: Resource
Expansion Drilling
193.55m @ 1.8 g/t Au 179.83m @ 1.81 g/t Au
59.44m @ 3.55 g/t Au 54.96m @ 4.28 g/t Au
19.81m @ 4.98 g/t Au

• 149.35m
Deposit open
@ 1.06 g/t Au
in most directions,
57.91m @ 2.32including
g/t Au at depth.
74.68m @ 1.74 g/t Au
10.66m @ 7.06 g/t Au

• 13.72m
Second drill campaign to focus on
@ 15.19 g/t Au high
143,26m @ 1.09 priority
g/t Au target
38.1m @ 2.35 g/t Au
areas where
10.67m @ 5.62 g/t Au
previous work has identified gold
53,34m @ 2.33 g/t Au
mineralization open on strike and at depth
21,33m @ 1,78 g/t Au
152.86m @ 1.06 g/t Au

• Increased understanding of deposit

38.1mgeology
@ 2.36 g/t Au will help
with more accurate targeting and modeling
12.19m @ 5.46 g/t Au

• Ground geophysics and 32.01m

geochemical
@ 2.54 g/t Au
surveys will aid in
targeting strike and depth extensions.

TARGET: To define a >1.5M oz primarily heap

leachable, open pit deposit in Idaho

10
 Favourable Metallurgy

• Previous operators completed metallurgical test work

indicating strong leach response in oxidized material

• Bottle roll testing indicated recoveries >95%

• Heap Leach recoveries range from 70% to 90%

depending upon crush size

• Higher recoveries achieved using a crush size of 80

percent minus 8 mesh (2.4 mm)

• 2021 program focusing on optimizing earlier work,

using fresh drill core from 2020 drill program

• Program designed and supervised by Frank Wright

(P.Eng), executed by SGS Canada Inc. (BC)

15
The permitting advantage…

Baseline studies
conducted by AGR show no
major obstacles to mine
permitting
(Dufresne, 2020)

Vast majority of historic

resources held within
patent claims

No bull trout bearing water

bodies in resource area

Gentle topography and

large land package

No settlements
in the immediate area

16
Phase 3: Blue Sky Exploration Upside

• Ongoing regional ground geophysical and

soil & rock geochemical surveys, designed
to identify “satellite deposit” targets.

• Currently completing deep 3D resistivity

and induced polarization survey of the
mineralized area

• Opportunity to find high grade feeder zones

at depth that are currently unexplored.

• Large land package has seen essentially no

exploration despite proximity to intrusive.

• These deposits often part of a larger

mineralized system, all of which is
unexplored.

• Major Structure at the neighboring Bear

Track Deposit has yielded multiple gold
Resources and Exploration Discoveries
along strike (6.5km)*

17
 Comparables
(oxide resources)

* Figures above represent fully diluted market cap data as at 25 January 2021

18
Kenneth Cotiamco
OFFICE: 604-687-7130
CELL: 702-482-3976
EMAIL: [email protected]

2021
INVESTOR PRESENTATION
[CSE: FMAN; FWB: 3WU
OTC: FMANF]