Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) - Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FRERF) (FSE: FR20) ("Fremont" or the "Company") announces that it has agreed to settle outstanding debts owed to two current and one former member of its management team totalling $499,333. The debts relate to unpaid remuneration and unreimbursed expenses that began accumulating in mid 2021. The Company has entered into debt settlement agreements with each of Dennis Moore, the Company's President, interim Chairman and a director of the Company, Paul Hansed, the Company's CFO, a company controlled by Mr. Hansed and a company controlled by Clay Newton, the Company's former Vice President of Exploration.

The agreements provide for the following (collectively the "Debt Settlements"):

Issuance by the Company to the debtors of a total of 2,097,762 common shares at a deemed price of $0.10 per share (being the unit price of the non-brokered private placement that closed in July 2024) having a total deemed value of $209,776;
Immediate payment of a total of $100,000; and
Deferred payment of a total of $109,777 to take place following the closing of the Company's next equity financing.

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