FREMONT GOLD RAISES $1.23M FROM OFFERING

(FRE.V) Dec. 6, 2018 – Fremont Gold Ltd. has announced that the company’s previously announced $1 million financing was oversubscribed and that Fremont raised $1,230,590 through the issuance of 8,789,930 units at a price of $0.14 per unit.

Officers and directors of Fremont subscribed for a total of 1,708,500 common shares for gross proceeds of $239,190, or approximately 19 percent of the offering. Net proceeds will be used to undertake further drilling at Fremont’s Gold Bar and Gold Canyon projects located in the Gold Bar district in Eureka County, Nevada, and for general working capital.

“Our plans to drill Gold Bar and Gold Canyon were well received by the marketplace and enabled us to raise more than the $1 million that we were originally seeking,” said Fremont CEO Blaine Monaghan. “Permitting is currently underway and we expect to be drilling in early 2019. Drilling at Gold Bar will be focused on identifying an extension to the historic Gold Bar mine, while drilling at Gold Canyon will be focused on further defining a mineralized zone identified in the company’s 2018 drill program.”

Each unit is comprised of a common share of the company and half of one transferable share-purchase warrant. Each whole warrant entitles the holder to purchase one common share at a purchase price of $0.20 per for a period of 24 months from the date of issuance.

The warrants are subject to an accelerator provision whereby if, over a period of 15 consecutive trading days between Dec. 5 and the expiry of the warrants, the daily volume weighted average trading price of the company’s common shares exceeds $0.30, the company may give written notice (via news release) that the warrants will expire on the 30th day following the provision of notice.

Officers and directors of Fremont subscribed for a total of 1,708,500 common shares for gross proceeds of $239,190. The participation of officers and directors of Fremont in the offering constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The transaction is exempt from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority approval requirements of MI 61-101 pursuant to section 5.7(1)(a) on the basis that the fair market value of the officers’ and directors’ participation is not more than 25 percent of the company’s market capitalization.

The company did not file a material change report more than 21 days in advance of the closing of the offering as contemplated by the related-party transaction requirements under MI 61-101, as the insider participation was only recently confirmed.

Fremont paid a finder’s fee equivalent to 6 percent on certain of the proceeds raised in connection with the offering. Total finder’s fees amount to $39,198.

All common shares issued in connection with the offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation and the policies of the TSX Venture Exchange, pursuant to which they may not be sold or transferred until Apr. 6, 2019.

Fremont Gold’s mine-finding management team has assembled a portfolio of high-quality gold projects in Nevada with the goal of making a new discovery. Fremont’s Gold Bar and Gold Canyon are past-producing gold mines adjacent to McEwen’s Gold Bar project, where mine construction is underway. Other projects include North Carlin, Goldrun, Hurricane, and Roberts Creek. The company is aligned with its shareholders: insiders own approximately 25 percent of Fremont.

Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

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