This free GNU Fortran 77 for DOS compiler is very easy to setup and comes as binaries. (Please note that this Fortran compiler is for DOS and does not work well under Windows 95. Refer to the Compilers page for information on native Win32 Fortran compilers such as Mumit Khan's implementation.)
Information on the package is available under the title of GNU's Fortran77 for DOS (g77) at:
To obtain the binaries, grab the zip files from the above web pages.
Don't forget to specify the .exe extension if you use the "-o" option as per the following example.
You can also build a "Hello World" program with source code filename as SMTEST.F and compile it to test things out.
PROGRAM SMTEST DO 10 I=1, 10 PRINT *, 'Hello World #', I 10 CONTINUE END
Build it using the command g77 -o SMTEST.EXE SMTEST.FOR