Fremont Gold Ltd. provided an exploration update relating to the Company's Cobb Creek project in Elko County Nevada and announce a proposed restructuring of the Company's capital structure. Proposed drill program at Cobb Creek: Following from the successful geochemical soil sampling program, management has planned eight proposed drill sites at Cobb Creek and initiated the drill permit application process. Once permitting is in place, management intends to commence a minimum five-hole, 1,500-meter drill program in late summer 2022.

Background: Major gold deposits in Nevada are found within well-defined mineralized structural "trends". Cobb Creek is hosted within the Independence Trend, which includes the Jerritt Canyon, Big Springs, Doby George and Wood Gulch Carlin-type gold deposits, as well as the Gravel Creek epithermal gold-silver deposit. Recent work: Soil sampling, conducted in October 2021, consisted of 307 samples taken on 200 metre-spaced sites along east-west lines 600 meters apart.

Figure 2 shows the sample sites with respect to the geology of the project area. Each soil sample was taken at depths of 0.5-1.0 meter, consistently at a change in coloration and induration, and analyzed by ALS's ME-MS41L method employing aqua regia digestion and analysis of 50 elements by ICP-MS. In addition, several new strong gold-in-soil anomalies are evident to the southeast and east of the McCall gold deposit. These anomalies have never been tested by previous drilling and are priority targets in the upcoming drill program.