Freedom Gold enters option agreement for four Nova Scotia properties

Vancouver, British Columbia--(Newsfile Corp. - June 4, 2026) - Freedom Gold Corp. (CSE: FRDM) (formerly SPOD Lithium Corp. (the " Company " or " Freedom ") announces that it has entered into a property option agreement on June 4, 2026, with 21Alpha Resources Inc. (the " Optionor ") to acquire a 100% interest in the Blockhouse property ("the Blockhouse Property "), the Widow Point property (the " Widow Point Property "), the Frenchvale property (the " Frenchvale Property "), and the Westfield property (the " Westfield Property ") (collectively, the " Properties "), all located in Nova Scotia (the " Option Agreement "). Under the terms of the Option Agreement, the Company will complete up to three (3) years of exploration programs, provide cash and a series of equity payments to earn its interest in the Properties and this transaction remains subject to approval by the Canadian Securities Exchange (the " CSE "). No finder's fees were paid as part of the transaction.

Pursuant to the Option Agreement, the Company may earn an initial 51% interest in the Properties by paying the Optionor or its nominees $10,000 in cash and issuing 2,500,000 common shares on signing, incurring $250,000 in exploration expenditures by the first anniversary of the effective date, issuing an additional 1,000,000 common shares by the 18-month anniversary, and incurring a further $350,000 in exploration expenditures and issuing an additional 2,000,000 common shares by the second anniversary of the effective date. Following the earn-in of the initial 51% interest, the Company may elect to acquire the remaining 49% interest by incurring an additional $400,000 in exploration expenditures and issuing a further 3,500,000 common shares by the third anniversary of the effective date, for a total acquisition cost of $10,000 in cash, $1,000,000 in exploration expenditures and 9,000,000 common shares, subject to the terms and conditions of the Option Agreement. The Company has also agreed to grant a 2% production royalty on each Property to the Optionor or its nominees.

Blockhouse Property The Blockhouse Property is a gold property located on the South Shore of Nova Scotia. The primary gold-bearing structures of interest are formed by the intersection of fault zones and favourable stratigraphic horizons in the basal section of the Halifax Formation's metamorphosed shales. Most of the gold came from the "Prest Shoot", a segment of the vein located within a green arenaceous slate horizon.

Available data suggests that the Prest Shoot holds the potential for an additional 10,000 to 14,000 ounces of gold to a depth of 300 meters. Historically, the Prest Shoot produced 2,043 tons of mill feed from a small scale mining between 1896 and 1935, yielding 3,259 ounces of gold. The vein width varied from 0.15 to 0.61 meters (6 to 24 inches), averaging 0.25 meters.

Wall rock samples indicated an average grade of 0.085 oz/ton (2.64 g/t). (Lotus Resources Ltd AR89-105). To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/7939/300183_c3915a3f94e05ab5_001full.jpg Widow Point Property The Widow Point Property, located in Guysborough County, Nova Scotia, hosts high-grade lode gold mineralization unique to the Goldenville Formation of the province. This gold mineralization is found in strongly altered Goldenville rocks, rotated more than 90 degrees to a north northwest strike.