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Fremont Gold Provides an Overview of 2019 and Its Plans for 2020

Vancouver, British Columbia--(Newsfile Corp. - January 6, 2020) - Fremont Gold Ltd. (TSXV: FRE) (FSE: FR2) (OTC Pink: USTDF) ("Fremont" or the "Company") is pleased to provide shareholders with an overview of 2019 and the Company's plans for 2020.

Fremont made the following announcements at the end of 2018 and in 2019:

"2019 was a year of transition for Fremont," said Blaine Monaghan, CEO of Fremont. "Following disappointing drill results from the Gold Bar project, the Company made the strategic decision to exit the Gold Bar camp and monetize any related projects, which was accomplished by the sale of Gold Canyon to McEwen Mining Inc. This prompted a search for new gold projects to augment its remaining property portfolio. The Company's search criteria focused on advanced-stage gold projects with the potential to host an economic deposit with a minimum of 1.0 million ounces of gold in the Western United States. Fremont looked at dozens of gold projects and conducted numerous site visits. Cobb was the first acquisition meeting the Company's search criteria and Griffon was the second. Both properties were acquired in the latter part of 2019.

By adding Cobb and Griffon to its existing property portfolio, which includes the highly prospective North Carlin project, Fremont has built an exceptional portfolio of brownfield and greenfield gold projects located within Nevada's most prolific gold trends. Fremont looks forward to advancing this portfolio in 2020 with the goal of making a new discovery."

Figure 1: Location of Fremont's projects

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Cobb Creek highlights



The historical mineral resource estimate ("Historical Estimate") was performed by and reported in a technical report prepared by Michael R. Pawlowski for Stacatto Gold Resources Ltd. and dated October 30, 20041. The Historical Estimate is based on a total of 72 drill holes with continuous zones of gold assays above 0.01 opt gold that could be reasonably interpreted to be continuous in three dimensions based on the construction of nine cross sections, 200 feet apart. The methodology employed in the Historical Estimate is detailed in the 2004 technical report by Pawlowski2. A qualified person has not done sufficient work to classify the Historical Estimate as a current mineral resource or mineral reserve and Fremont is not treating the Historical Estimate as a current mineral resource or mineral reserve. In order to consider the Historical Estimate as current mineral resources or mineral reserves, Fremont needs to retain a qualified person to verify historical drilling and assaying methods and validate historical results, add any drilling and assaying or other pertinent geological information generated since the last estimation, and complete an updated resource estimate and a new technical report.

Figure 2: Cobb Creek exploration targets

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Griffon highlights

Figure 3: Griffon's location

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Qualified person

The content of this news release was reviewed by Dennis Moore, Fremont's President, a qualified person as defined by National Instrument 43-101.

About Fremont Gold

Fremont's mine-finding management team has assembled a portfolio of high-quality gold projects in Nevada's most prolific gold trends. Fremont's gold projects include Griffon, Cobb Creek, North Carlin, Goldrun, and Hurricane. We are aligned with our shareholders: Insiders own more than 20% of Fremont.

On behalf of the Board of Directors,

"Blaine Monaghan"


Telephone: +1 604-676-5664

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.

1 Muntean, J.L., Davis, D.A., and Ayling, B., 2017, The Nevada Mineral Industry 2015, Special Publication MI-2015, Nevada Bureau of Mines and Geology.

2 Pawlowski, M.R., 2004, Technical report on the Cobb Creek Property, McCall Area, Elko County, Nevada.

Forward looking statements

Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which are referred to collectively as "forward-looking statements". The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will", "hope", "will be", "expected" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include but are not limited to statements and information regarding a new Cobb Creek technical report, the potential to expand the McCall deposit or the potential for the discovery of a Carlin-type deposit at either Cobb or Griffon. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Actual results and future events could differ materially from those anticipated in such statements. Fremont undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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