Freedom Gold Corp. Issues Common Shares as Partial Consideration to the Option Agreement

Vancouver, British Columbia--(Newsfile Corp. - July 10, 2026) - Freedom Gold Corp. (CSE: FRDM) (formerly SPOD Lithium Corp. (the "Company" or "Freedom") is pleased to announce that it has issued (the "Issuance"), on July 9, 2026, an aggregate of 2,500,000 common shares (each a "Share") under its previously announced option agreement (the "Option Agreement") dated as of June 4, 2026, with 21Alpha Resources Inc. (the "Optionor") pursuant to which the Company has the option to earn a 100% interest (the "Option") in Blockhouse property, the Widow Point property, the Frenchvale property, and the Westfield property (collectively, the "Properties"), all located in Nova Scotia, Canada (see Freedom's news release dated June 4, 2026 for further information respecting the Option Agreement). The Shares were issued as partial consideration for the Option. The Shares are subject to a four-month hold period expiring November 7, 2026, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

Early Warning Disclosure for Gravel Developments Inc.

Gravel Developments Inc. ("GDI") acquired 1,181,250 Shares as a result of the Issuance, which represent more than 10% of the issued and outstanding Shares. Accordingly, The Company is providing the following disclosure pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103").

Immediately prior to Issuance, GDI had ownership of, and control and direction over, 22,000 Shares, representing 0.35% of the issued and outstanding shares on an undiluted basis. Immediately after the Issuance, GDI beneficially owns, and has control and direction over, 1,203,250 Shares, representing approximately 13.72% of the outstanding Shares on an undiluted basis.

The Shares were acquired by GDI as partial non-cash consideration for the grant of the Option. GDI holds the Shares for investment purposes. GDI may, depending on market conditions, general economic and industry conditions, the Company's business, financial condition and prospects, and other factors that GDI considers relevant, from time to time, increase or decrease its beneficial ownership of, or control or direction over, securities of the Company through market transactions, private agreements, treasury issuances, exercises of convertible securities, or otherwise.

Pursuant to the Option Agreement, the Company may issue to GDI up to an aggregate of 4,252,500 Shares in scheduled tranches over a period of up to 36 months. The first tranche of 1,181,250 Shares (issued as described above) was issued in accordance with the first milestone, which is the signing of the Option Agreement. Subject to the satisfaction of the applicable earn-in conditions, GDI may receive an additional 472,500 Shares on or before the 18-month anniversary of the effective date of the Option Agreement, 945,000 Shares on or before the 24-month anniversary of the effective date of the Option Agreement and 1,653,750 Shares on or before the 36-month anniversary of the effective date of the Option Agreement thereof, for a total of 4,252,500. The Shares issued to GDI are subject to a statutory hold period of four months and one day and a CSE-imposed Extended Hold restricting their resale, as described in the Company's CSE filings in respect of the transaction.