Freedom Gold closes first tranche of private placement

Vancouver, British Columbia--(Newsfile Corp. - August 14, 2026) - Freedom Gold Corp. (CSE: FRDM) (formerly SPOD Lithium Corp. (the " Company " or " Freedom "), is pleased to announce it has closed the first tranche of its previously announced non-brokered private placement financing for aggregate gross proceeds of C$312,000 (the " Offering ") through the issuance of 2,600,000 units (the " Units ") at a price of $0.12 per Unit.

Each Unit is comprised of one common share in the capital of the Company (a " Common Share ") and one common share purchase warrant (a " Warrant "), whereby each whole Warrant entitles to holder thereof to acquire additional Common Shares at an exercise price of $0.18 for a period of twenty-four (24) months from the date of issuance.

In connection with the Offering, the Company paid cash commissions of $5,040 to certain finders and issued 42,000 non-transferable finder's common share purchase warrants (the " Finder's Warrants "). Each Finder's Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.18 per Common Share for a period of twenty-four (24) months from the date of issuance.

Proceeds from the Offering will be used for general working capital purposes. The Units and underlying securities issued pursuant to the Offering will be subject to a four month and one day hold period from the date of issuance, pursuant to National Instrument 45-106 Prospectus Exemptions .

An insider from the Company indirectly subscribed for a total of 200,000 Units under the Offering. A subscription by an insider of the Company is considered to be a "related party transaction" of the Company within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(a) of MI 61-101 as the fair market value of the Offering, insofar as it involves the insider, is not more than 25% of the Company's market capitalization. Additionally, the Company is exempt from the minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(a) as the fair market value of the Offering, insofar as it involves the insider, is not more than 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the closing of the Offering because the details of the insider participation were not finalized until closer to closing of the Offering and the Company wished to close the Offering as soon as practicable for sound business reasons.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.