FREEHILL MINING LIMITED. — Capital/Financing Update 2020

Feb 4, 2020

News Release

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5 February 2020

Placement to Sophisticated Investor

Freehill Mining Limited (ASX: FHS ‘Freehill’ or ‘the Company’) is pleased to announce that it has raised A$750,000 through the issue of 41,666,667 fully paid ordinary shares at $0.018 per share.

The new shares have been issued to professional and sophisticated investor Mr. Gavin Ross, principal of portfolio manager Gavin Ross & Co. Pty Ltd. Mr. Ross has recently visited Yerbas Buenas and this investment reflects his commitment to the Company’s growth strategy.

Funds raised provide Freehill with further financial flexibility to advance key project development initiatives. As well, more assays from the recently completed diamond drill campaign are pending and Freehill is most encouraged by the results thus far.

Freehill thanks Mr. Ross and welcomes him as a shareholder.

-ENDS-

About Freehill Mining Limited

Freehill Mining Limited (ASX: FHS) is a mineral exploration company focused on the development of its 100%-owned Yerbas Buenas magnetite project in Chile. Yerbas Buenas has proven magnetite mineralisation as well as being prospective for both gold and copper mineralisation. Drilling results to date have so far demonstrated that magnetite mineralisation extends along at least a 2km contiguous corridor of what is shown by geophysics to be a 3km long structure extending from the northern boundary to southern boundary of the property. The company has also identified copper and gold mineralisation testing has commenced with diamond drilling on two IP anomalies highlighted in earlier exploration.

For further information, please contact:

Peter Hinner Paul Davies Chief Executive Officer Chief Financial Officer Freehill Mining Limited Freehill Mining Limited +61 410569635 +61 419 363 630

Media & investor relations inquiries: Ben Jarvis, Six Degrees Investor Relations: +61 413 150 448

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Freehill Mining Ltd – iron ore producers |ACN 091 608 025 |www.freehillmining.com

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|Tel: +61 (0)3 8658 5976 |email: info@freehillmining.com Melbourne Office |Level 24, 570 Bourke Street, Melbourne, Vic 3003 La Serena, Chile office |Level 7, Edificio Seville, Avenida Del Mar La Serena, Chile South America