Fremont Gold Inc.

Fremont has the right to acquire a 100% interest in Mendia Resources which holds the exploration license over the Vardenis copper-gold property in central Armenia

ARMENIA

GDP: US$20 Billion
Population: 3 Million
GDP/capita: US$7000
Life expectancy: 72.4 years
Stable, westward-looking government
Mining friendly jurisdiction
with 12 operating mines,
Including World-Class Sotk & Amulsar (under construction)

UNDER EXPLORED

Tethyan Belt in Armenia

•One of the world’s largest and most prolific mineral belts, prospective for HS epithermal and porphyry Co-Mo deposits

•12 operating mines, including the world class Sotk gold mine which has produced over 7M ounces

•3M oz Amulsar mine in construction, first production 2024

•Vastly underexplored

•Mineralized areas open for staking

•Fremont has one prospective area under application

•Investor friendly corporate environment

•Established exploration and mining code

•Relatively cheap exploration and operating costs

Vardenis highlights: Dundee Precious Metals Corp property held the exploration license from 2015-2018 and spent over US$2M. Their work defined a 8km long gold soil anomaly as well as a 3.6km x 2km copper anomaly

Summary of the terms of the agreement

Fremont can acquire 100% in Mendia Resources by paying making staged option payments totalling US$350,000, issuing 2.2M Fremont common shares and completing specified work commitments over 4.5 years:

First stage: US$100,000 and 500,000 Fremont common shares on closing (effective date) and complete specified exploration work including 2500m of drilling over 18 months to earn 51% of Mendia;
Second stage: US$150,000 and 700,000 Fremont common shares in December 2024 and complete an addtional 5000m of drilling within 3 years of the effective date to earn another 29% in Mendia;
Third stage: US$100,000 and 1M Fremont common shares in June 2025 and complete a Preliminary Economic Assessment within 4.5 years of the effective date to earn another 10% in Mendia;
Final stage: After the Company has fulfilled the requirements to earn 90%, the optionor has the right to contribute on a pro-rata basis going forward. If the optionor does not exercise this right, the Company has a one time option to purchase the remaining 10% of Mendia for US$3.5M. If the company elects not to exercise this option, the optionor will be diluted via a standard dilution clause. The optionor's equity converts to a 1% NSR once it reaches 5%.