The seven-month manhunt for Dezi Freeman ended in a hail of bullets outside his hiding place in north-east Victoria, with the fugitive understood to have fired two shots before police returned fire up to 20 times.

Police fired multiple shots at the fugitive as he emerged from the caravan-cross-shipping container at a rural property in Thologolong, wielding a gun stolen from one of the slain officers in Porepunkah.

Special Operations Group members had spent three hours at the property attempting to negotiate a peaceful surrender with Freeman before multiple shots were fired.

Dezi Freeman has been found and killed after a long and tireless search. (A Current Affair)

“He fired two shots and eight police responded. He was shot at least 20 times,” The Age crime writer John Silvester told 3AW.

“In all probability, the gun was shot out of his hand because it was some distance away.”

Investigators had been tracking a car coming and going from 56-year-old Freeman’s hideout before he was killed in a shootout about 8.30am on Monday, 9News understands.

9News has been told officers had been surveilling Freeman for several days after watching the car, which repeatedly made the almost 200-kilometre trip between Porepunkah and Thologolong, located on the Victoria-NSW border.

Investigators had been tracking a car coming and going from 56-year-old Freeman’s hideout. (9News)

Detectives used traffic cameras to track the vehicle completing the trip several times, which led them to Freeman’s hideout.

Another vital lead could lie in a series of fans installed on top of the shipping container.

“Somebody has purchased those and taken them to the property to ensure that Freeman is able to live in there in the heat,” Silvester said.

“Rest assured that police will be trying to find out who bought them and where.

“There was a ladder attached to one of them which may well have been a part of the process in installing that.”

Police had been trying to intercept and track Freeman’s phone use throughout the manhunt.

Investigators are now looking at whether Freeman was assisted by anyone during his time on the run.

“Tellingly two mobile phones were found in the area, burners,” Silvester said.

“Police will be trying to see who he called, although the reception up there is terribly bad.”

Freeman’s body has been taken to Melbourne to be examined by the state coroner, who will hold independent review into his death.

A formal identification of his body has now taken place.

Officers had been surveilling Freeman for several days before the tense standoff on Monday. (9News)

Police have asserted it would have been very difficult for the fugitive to remain hidden for so long without help.

Anyone who may have helped harbour Freeman, or transported him from Porepunkah to Thologolong, could face up to 20 years in prison.

“We’re going to track backwards, work backwards from yesterday and find out to work out who did assist him and those people, when identified, will be held to account,” Bush said.

Police are expected to wrap up at the crime scene this evening after three days combing through the property.

Cleaners are expected to move in to clear the land tonight before it is secured and locked.