Vancouver, British Columbia--(Newsfile Corp. - January 17, 2024) - Fremont Gold Ltd. (TSXV: FRE) (FSE FR20) (OTCQB: FRERF) ("Fremont" or the "Company") is pleased to announce that it is appointing several new advisors to the Company.

New Advisors

Mr. Luis Arteaga, a seasoned explorationist and porphyry copper expert, has agreed to act as an advisor to the Company on technical exploration issues relating to our two copper-gold properties in Armenia. Mr. Arteaga has consulted to the Company in the past and visited the Company's Vardenis property for eight days in October 2023. He wrote several technical reports on the property's geochemistry, alteration and prospectivity that are instrumental in drill targeting.

Mr. Joel Sutherland, has agreed to act as an advisor to the Company on corporate markets and finance issues. Joel is VP Corporate Development and Investor Relations for Prostar, a TSX-listed company, and assisted in the Company's October 2023 financing.

The Company would like to welcome both of these high-quality specialists to our team as we look forward to pursuing discoveries of world-class mineral deposits within the central Tethyan Belt.

Mr. Derek White, CEO of Ascot Resources, and Mr. Doug Hurst, independent consultant based out of Nelson, BC, are resigning as advisors to the Company as focus shifts to the Tethyan belt in Armenia. The Company would like to thank both Derek and Doug for their invaluable advice through their many years associated with Fremont.

Resignation of Dr. Clay Newton

Dr. Clay Newton has announced his resignation as Fremont's Vice President of Exploration but will continue to consult to the Company and remain as an advisor on geological matters in relation to our two remaining Nevada properties. The Company would like to thank Clay for all of his hard work and incredible geological insight and advice throughout the past six years.

Vardenis NI 43-101 Report

The Company is pleased to announce that it has filed a National Instrument 43-101 geological report (the "Report") relating to the Vardenis project in central Armenia. The Report may be found under the Company's profile on SEDAR at and on the Company's website through the following link:

Second Tranche Financing

The Company announces that the close of the non-brokered private placement financing previously announced on October 30, 2023, was the final tranche of the financing and there will be no further closings.

About Fremont

Fremont's mine-finding management team has assembled a portfolio of potential world-class copper-gold mineral opportunities within the central Tethyan belt of Armenia, and controls two advanced gold exploration projects in Nevada.

On behalf of the Board of Directors,

Dennis Moore

President and CEO, interim Chairman

For further information, contact:

Fremont Gold Ltd.
Dennis Moore
Telephone: +351 925062196

Forward-looking statements

This news release contains forward-looking statements. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the filings made by the Company with securities regulations.

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