Bravada Files Technical Report for the Wind Mountain Au/Ag Project, Nevada, Including Phase I PEA Results of 38% IRR and US$46.1 Million After-Tax NPV@5%

Bravada Gold Corporation (TSXV: BVA) (OTCQB: BGAVF) (FSE: BRTN) (the "Company" or "Bravada") reports today that it has filed a technical report (the "Report") prepared in accordance with Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101"). The Report may be found under the Company's profile at www.sedar.com and on Bravada's website https:bravadagold.com.

The Report dated January 20, 2023 and entitled "Updated Technical Report and Preliminary Economic Assessment, Wind Mountain Gold-Silver Project", located in Washoe County, Nevada, was prepared by RESPEC Company LLC ("RESPEC", formerly Mine Development Associates), Woods Process Services, and Debra Struhsacker, Bravada's Environmental Permitting and Government Relations Consultant.

Economics have improved significantly compared to the Company's 2012 study due to utilizing a near-mine, heap-leach pad site for a portion of the Pit-constrained resource and higher grades for early mining, which were predicted and then verified by drilling during 2021. To add additional mine life, a Phase II pad site has been identified due north of the Phase I site but was not considered during the current PEA. Although Pad II is somewhat farther from the currently identified Pit-constrained resource, it is located very close to outcropping mineralization at the North Hill target area, which has only been tested with minor drilling. Other potential additions to mine life that the Phase I PEA did not consider include mineralization at the South End target and historic "waste rock piles" where the Company has identified potentially recoverable gold and silver.

There are no material differences in the Mineral Resource or the Phase I PEA results contained in the Report from those disclosed in the December 8, 2022 news release, except that the Revenue portion of the Sensitivity Table has been corrected in the table below.

Total Pit-constrained Resource

After verifying and slightly modifying the Wind Mountain 2012 Global Resource based on subsequent drilling, which was confirmed to within

	Wind Mountain Project 2022 Resources
2022 - Constrained in $1750 Gold Price Optimized Pit
Indicated
Cutoff
oz Au/ton	Tons	oz Au/T	oz Ag/T	oz Au	oz Ag
variable	45,583,000	0.010	0.26	474,000	11,807,000
Inferred
Cutoff
oz Au/ton	Tons	oz Au/T	oz Ag/T	oz Au	oz Ag
variable	2,604,000	0.008	0.19	21,900	497,000

Notes:

The Effective Date of the Wind Mountain mineral resources is October 4, 2022.
The estimate of mineral resources was done by RESPEC in Imperial tons.
Mineral Resources comprised all model blocks at a 0.006oz Au/ton cut-off for Oxide within an optimized pit and 0.014oz Au/ton for Mixed and Unoxidized within an optimized pit.
The project mineral resources are block-diluted Mineral Resources potentially amenable to open pit mining methods and reported within optimized pits using a gold price of US$1,750/oz, a silver price of US$21/oz and a throughput rate of 20,000 tonnes/day. Assumed metallurgical recoveries for gold are 62% for oxide, 20% for mixed and 15% for unoxidized. Assumed metallurgical recoveries for silver are 15% for oxide and 0% for mixed and unoxidized. Mining costs of US$2.75/tonne mined, heap leach processing costs of US$3.17/tonne processed, general and administrative costs of $0.57/tonne processed. Gold and silver commodity prices were selected based on analysis of the three-year running average.
Material in waste dumps and heap leach pads are NOT included in the current model and resource.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content.

Phase I Preliminary Economic Assessment for a Close-in Heap-leach Site

The Phase I Preliminary Economic Assessment ("PEA") assumes open-pit, contract mining with conventional trucks and shovels and run-of-mine leaching. The base-case economic model(1) is summarized below in US dollars and Imperial units (some values rounded):

Resource inside the pits for Phase I PEA = 29.2 million tons of Indicated Resource @ 0.011 oz Au/t & 0.267 oz Ag/t and 1.08 million tons of Inferred Resource at 0.009 oz Au/t and 0.173 oz Ag/t, both at a cut-off grade of 0.008 oz Au/t. Oxide mineralization = 30.2 million tons and Mixed oxide/sulfide = 0.01 million tons.

Gold & Silver Ounces mined = 344,000 oz Au and 7,975,000 oz Ag.

Gold & Silver Ounces produced = 213,000 oz Au (recovery 61.9%) & 1,194,000 oz Ag (recovery 15%) or 227,000 oz Au-eq⁽²⁾.

Waste: Ore Strip ratio = 0.55:1

Capital = Initial capital of $46.6 million with $19.8 million sustaining capital

Mine Life = approximately 4.2 years of mining

After-tax Payback Period = 1.8 years

Life-of-mine cash cost⁽³⁾ = $1,045 per ounce Au

All-in Sustaining Costs = $1,175 per ounce Au

After-tax IRR = 38%

After-tax NVP@5% = $46.1 million

Canadian NI 43-101 guidelines define a PEA as follows: "A preliminary economic assessment is preliminary in nature and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied that would enable them to be classified as mineral reserves, and there is no certainty that the preliminary assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability."
Expected recoveries were incorporated to convert silver to gold equivalent (Au-eq) at 345 Ag:1 Au ($1,750 x 61.9% divided by ($21 x 15%)).
Costs include estimated Nevada Net Proceeds taxes, property taxes, estimated corporate income tax, and treats silver as a by-product credit.

Sensitivity studies by RESPEC are presented in the table below. RESPEC notes that additional studies such as further metallurgical studies to evaluate crushing higher-grade portions of the deposit and grid drilling to delineate economic portions of the previously mined "waste rock", which are given no value in the current model, could further enhance the economics. For example, RESPEC notes that 1.1million tons of historic mine waste is currently classified as "waste" and must be removed during Phase I mining; however, results of limited drilling, surface sampling, and trenching by Bravada suggest the material contains potentially recoverable gold. RESPEC and Woods recommends that the material be placed in a stockpile for additional study or utilized as over liner on the leach pads; the material potentially would be added to the currently designed Phase I pad to further reduce the strip ratio and increase positive economics.

	Revenue					Metal Price
	LOM Cash Flow	NPV @ 5%	NPV @ 8%	NPV @ 10%	IRR			LOM Cash Flow	NPV @ 5%	NPV @ 8%	NPV @ 10%	IRR
	$ K USD	$ K USD	$ K USD	$ K USD	Percent	$/oz Au	$/oz Ag	$ K USD	$ K USD	$ K USD	$ K USD	Percent
70%	$(43,538)	$(43,305)	$(42,957)	$(42,664)	-30%	$1,600	$19.20	$35,490	$23,426	$17,656	$14,302	22%
80%	$(7,086)	$(12,525)	$(15,000)	$(16,389)	-5%	$1,650	$19.80	$44,419	$30,968	$24,509	$20,744	28%
90%	$27,683	$16,829	$11,662	$8,669	17%	$1,700	$20.40	$53,433	$38,576	$31,417	$27,237	33%
100%	$62,322	$46,077	$38,229	$33,638	38%	$1,750	$21.00	$62,322	$46,077	$38,229	$33,638	38%
110%	$95,179	$73,859	$63,487	$57,390	57%	$1,800	$21.60	$70,801	$53,239	$44,736	$39,755	43%
120%	$126,363	$100,123	$87,309	$79,759	74%	$1,850	$22.20	$79,280	$60,399	$51,242	$45,871	48%
130%	$157,272	$126,138	$110,896	$101,901	90%	$1,900	$22.80	$87,855	$67,641	$57,822	$52,057	53%

	Operating Cost						Capital Cost
	LOM Cash Flow	NPV @ 5%	NPV @ 8%	NPV @ 10%	IRR		LOM Cash Flow	NPV @ 5%	NPV @ 8%	NPV @ 10%	IRR
	$ K USD	$ K USD	$ K USD	$ K USD	Percent		$ K USD	$ K USD	$ K USD	$ K USD	Percent
70%	$123,722	$98,006	$85,454	$78,061	74%	70%	$81,761	$64,349	$55,849	$50,842	67%
80%	$103,996	$81,368	$70,348	$63,866	63%	80%	$75,281	$58,258	$49,976	$45,107	55%
90%	$83,401	$63,942	$54,496	$48,952	51%	90%	$68,801	$52,168	$44,102	$39,373	46%
100%	$62,322	$46,077	$38,229	$33,638	38%	100%	$62,322	$46,077	$38,229	$33,638	38%
110%	$40,221	$27,371	$21,211	$17,626	25%	110%	$55,593	$39,782	$32,173	$27,733	31%
120%	$17,990	$8,559	$4,098	$1,525	11%	120%	$48,736	$33,380	$26,022	$21,741	26%
130%	$(4,240)	$(10,254)	$(13,015)	$(14,575)	-3%	130%	$41,878	$26,979	$19,872	$15,748	21%

President Joe Kizis commented, "The phased approach has several advantages that improve the economics and reduce the risk to development at Wind Mountain. Phase I takes advantage of the leach pad space adjacent to the modelled mining operation, as well as the increased grade verified by drilling during 2021 for increased cash flow during the early years of production that provides cash flow to fund sustaining capital required in year 3. To increase mine life, a probable Phase II pad site has been identified directly north of the Phase I pad, which should be sufficient for the remaining 28% of the 2022 Pit-constrained Resource not depleted during Phase I and possibly more. Capital costs to activate Phase II should be reasonable and potentially could be funded by cash flow. In addition, there are several poorly drilled areas of outcropping mineralization at the North Hill target that might be processed at the nearby Phase II pad. All mineralization in Phase I, and most of the mineralization anticipated for Phase II, is in the oxidized Indicated category, so potentially could quickly be upgraded to Reserve Category with a Pre-feasibility study. Operational advantages for development of Wind Mountain include its location in a sparsely populated region of northwest Nevada (less than a 2-hour drive from Reno), county-maintained roads, power lines to the property, location six miles from a geothermal power station, and no known significant environmental or archaeological impediments."

Recommendations and 2023 Plans

The Report makes several specific recommendations to advance the property, including additional metallurgical testing, additional exploration drilling around the North Hill target, updating earlier biological and archaeological studies, and engaging nearby communities in the early planning stages. Costs for the next-stage work to culminate in a Pre-feasibility study is estimated at US$768,000, not including costs for permitting and community engagement.

The Report's conclusion states, "The Wind Mountain property is a property of merit and warrants additional exploration as well as economic studies. The project location and infrastructure are favorable for mine development and should the project advance through feasibility with positive results, improvements to necessary infrastructure (power, water, access, housing, etc.) should be reasonably inexpensive. There are no known environmental, social, or logistical impediments to developing a mine at Wind Mountain. In addition, deeper targets of unoxidized mineralization and improved understanding of economic potential of historic waste dumps may add additional value to the project. Additional targets for oxidized mineralization have also been identified during geologic modeling."

Qualified Persons

RESPEC, Woods Process Services, and Debra Struhsacker, Bravada's Environmental Permitting and Government Relations Consultant, compiled the Report. Thomas Dyer, P.E. is a Principal Engineer for RESPEC and is responsible for sections of the Report involving mine designs and the economic evaluation; Michael Lindholm, C.P.G., is a Principal Geologist for RESPEC, and is responsible for the sections involving the Mineral Resource estimate; Jeffery Woods, SME MMSA QP, is an independent Principal Consulting Metallurgist with Woods Process Services and is responsible for the sections on process 13, 17 and 21. The PEA relies on Debra Struhsacker as an expert in permitting. Thomas Dyer, Michael Lindholm and Jeffery Woods are the Qualified Persons of the Report for the purpose of Canadian NI 43-101, Standards of Disclosure for Mineral Projects.

About Wind Mountain

The past-producing Wind Mountain gold/silver project is located approximately 160km northeast of Reno, Nevada in a sparsely populated region with excellent logistics, including county-maintained road access and a power line to the property. AMAX Gold/Kinross Gold recovered nearly 300,000 ounces of gold and over 1,700,000 ounces of silver between 1989 and 1999 from two small open pits and a heap-leach operation (reported data based on Kinross Gold files). Rio Fortuna Exploration (U.S.) Inc., a wholly owned US subsidiary of Bravada Gold Corporation, acquired 100% of the property through an earn-in agreement with Agnico-Eagle (USA) Limited, a subsidiary of Agnico-Eagle Mines Limited, which retains a 2% NSR royalty interest, of which 1% may be purchased for $1,000,000 at any time prior to commencement of production (purchase to reduce royalty is assumed in PEA calculations). The resource and PEA for Wind Mountain were updated in April 2012 and further updated in November 2022.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the World. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company entered into 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in the Battle Mountain/Eureka and Walker Lane Trends, two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, responding to investor's commonly asked questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

Joseph Anthony Kizis, Jr. (AIPG CPG-11513) is the qualified person for the Company and is responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.

-30-

On behalf of the Board of Directors of Bravada Gold Corporation

"Joseph A. Kizis, Jr."

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

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Bravada Gold TSXV:BVA Precious Metals Investing

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Bravada Gold Announces the Extension of the Expiry Date of Certain Common Share Purchase Warrants

Bravada Gold Corporation (TSXV: BVA) (the "Company" or "Bravada") announces that it intends to apply to the TSX Venture Exchange ("TSXV") for approval to extend the original expiry dates of an aggregate 27,611,285 share purchase warrants (the "Warrants") as follows:

Number of Warrants	Exercise Price per Share	Closing Date of Private Placement	Original Expiry Date	Proposed Amended Expiry Date
7,555,000	$0.12	May 13, 2019	May 13, 2023	May 13, 2024
4,552,142	$0.12	July 17, 2019	July 17, 2023	July 17, 2024
8,305,000	$0.15	June 11, 2020	June 11, 2023	June 11, 2024
4,260,000	$0.12	August 6, 2021	August 6, 2023	August 6, 2024
2,757,143	$0.12	October 1, 2021	October 1, 2023	October 1, 2024
182,000	$0.12	October 25, 2021	October 25, 2023	October 25, 2024

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Bravada Announces a Phase II Pad Site Sufficient to Process the Remaining 2022 In-Pit Gold/Silver Resource, Potentially Adding to Wind Mountain's Mine Life

Bravada Gold Corporation (TSXV: BVA) (OTCQB: BGAVF) (FSE: BRTN) (the "Company" or "Bravada") reports that it has received the results of an evaluation of a second pad site, not considered in its recent technical report (the "Report", see news release dated January 23, 2023). The Report may be found under the Company's profile at www.sedar.com and on Bravada's website https:bravadagold.com.

Economics reported in the Report improved significantly compared to the Company's 2012 PEA due to utilizing a near-mine, heap-leach Pad I site, which is of limited size, for a portion of the Pit-constrained resource and due to higher grades for early mining, which were predicted and then verified by drilling during 2021. To add additional mine life, a Phase II pad site was identified due north of the Phase I site (see Figure 1) but was not considered in the January 20th PEA. An internal evaluation by RESPEC demonstrates that the Pad II site is sufficient in size to process the remainder of the In-pit Resource, adding approximately 45% more resource tons and potentially increasing mine life by more than 2 years. Although Pad II is somewhat farther from the currently identified Pit-constrained resource than the Pad I site, it is located very close to outcropping mineralization at the North Hill target, which has only been tested with minor drilling. Other potential additions to mine life that the Phase I PEA did not consider, but which might be added to a Phase II or later Pad, include mineralization at the South End target, historic "waste rock piles" and partially spent heaps where the Company has identified potentially recoverable gold and silver.

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Bravada Reports 38% IRR and US$46.1 Million After-Tax NPV@5% for Phase I PEA at Wind Mountain Au/Ag Project, Nevada; Additional Leach-Pad Site Being Evaluated for Phase II

Highlights

The Phase I PEA includes a 30.3million ton capacity leach pad, roughly 62% of the updated, Pit-constrained Resource tons, taking advantage of a leach-pad site adjacent to the modeled open pit.
A potential Phase II pad site directly north of Phase I is being evaluated to include additional Pit-constrained Resource as well as adjacent, under-drilled outcropping mineralization at North Hill.
The PEA and Pit-constrained Resource were modeled with 3-year, trailing average prices of US$1,750 for gold and $21 for silver.
The Pit-constrained Resource consists of:
- 46million tons at 0.010 oz Au per ton and 0.26 oz Ag per ton containing 474,000ounces of Au and 11,807,000ounces of Ag in the Indicated Category; and
- 2.6million tons at 0.008 oz per ton Au and 0.19 oz Ag per ton containing 21,900ounces of Au and 497,000ounces of Ag in the Inferred Category.
The Phase I PEA consists of 96% of the gold ounces in the Indicated ResourceCategory, acceptable for Pre-feasibility study.
Compared to the Company's independent 2012 Resource/PEA study, the Phase I PEA considers only a portion of the pit-constrained Resource that will fit onto a restricted area available as a close-in heap-leach pad site; 30.3million tons (31% less than the 2012 model, which utilized a pad space located much farther from the mine) and produces 227,000 ounces of Au-eq (29% less than the 2012 model pit).
Even with fewer tons being mined, Initial Capital increased by 3% to $46MM, with most of the Sustaining Capital in year 3.
The strip ratio was reduced by 23% to 0.55:1 waste to ore and the payback period was reduced 15% to 1.9 years in the current Phase I study.
Higher grades predicted and then verified by 2021 drilling resulted in better grades in early years and conversion of certain Inferred blocks into Indicated blocks, improving economics.
The strip ratio may be reduced further with additional test work as 1.1million tons of historic "waste rock" that must be removed in Phase I can be removed and stored on a low-grade stockpile. The material is currently not considered part of the Resource but limited sampling and drilling suggest it may contain recoverable gold, which may be processed on the Phase I heap pad.
The economics of the Phase I PEA have improved significantly compared to the 2012 PEA despite higher costs for capital and many operating costs. The AFTER-TAX IRR is 38% (an 81% improvement over the 2012 IRR of 21%) and the AFTER-TAX NPV @5% discount is $46.1million (a 74% improvement over the earlier NPV @5% of $26.5MM).

Bravada Gold Corporation (TSXV: BVA) (the "Company" or "Bravada") reports the results of an updated, independent Resource and Phase I Preliminary Economic Assessment (PEA) for its Wind Mountain GoldSilver Property in Washoe County, Nevada.

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Bravada Reports Results of Recent Drilling and Status of Updated PEA at Wind Mountain Au/Ag Project, Nevada

Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the "Company" or "Bravada") has received assay results for the three deep reverse-circulation holes drilled during 2022. The holes tested below a banded vein zone discovered in Q4 2020 beneath mine waste and other overburden at the Feeder target, located approximately 450m south of the Wind Open Pit and where hole WM20-102 intersected 1.5 metres of 269.0gt Ag and 0.404gt Au within a thicker interval of banded quartz veining with anomalous gold and silver. The three 2022 holes intersected zones of low-grade disseminated gold and silver within the Truckee Formation, which is the host for the current resource of disseminated oxide gold north of the Feeder target. However, the banded quartz vein zone did not persist to the depths tested. Below disseminated mineralization in the Truckee Formation, however, many vein zones were encountered in the holes which are enriched in manganese, barium, tungsten, nickel, and zinc.

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Bravada Announces the Extension of the Expiry Date of Certain Common Share Purchase Warrants and Updates Wind Mountain Program

Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the "Company" or "Bravada") reports that the Company will be extending the exercise period of a total of 6,434,000 share purchase warrants, all of which are exercisable at $0.12 per share (collectively, the "Warrants"). The Warrants were issued on July 23, 2018, pursuant to a private placement (see news release NR-07-18) and are scheduled to expire on July 23, 2022. The Company proposes to extend the expiry by one (1) year, and accordingly, the new expiry date for the warrants will be July 23, 2023.

All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.

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Freegold Expands and Upgrades Resource at Golden Summit

Base case resource ounces and grades have increased materially from our February 2023 estimates
Indicated Primary Mineral Resource: 12.1 million ounces at 1.08 g/t Au, up 8% and 9% respectively
Inferred Primary Mineral Resource: 10.3 million ounces at 1.04 g/t Au, up 45% and 13%, respectively
Primary Resource reported above a 0.50 g/t Au cut-off grade
In addition, a significant oxide resource exists – 0.9Moz at 0.49 g/t Au (indicated), up 43% and 23%
Soil geochem and historical hard rock mines strongly suggest that Dolphin-Cleary mineralization remains open to the west and southwest another 1.5 km. The current resource footprint is 1.5 km east-west.
Dolphin/Cleary is just one of the target areas within the 13km long, road-accessible project.
The 2024 drill program at Golden Summit is ongoing with two drills operating – additional assay results pending

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company") is pleased to announce an updated mineral resource estimate for the Golden Summit Project. The revised estimate incorporates data from the 2023 drilling program and the initial two holes of the 2024 program, representing a significant milestone in our exploration and development activities.

CutOff Au g/t	Classification	Au g/t	Tonnes	Ounces
OXIDE
0.15	Indicated	0.49	59,414,000	937,000
0.15	Inferred	0.45	3,252,000	47,000
PRIMARY
0.5	Indicated	1.08	346,304,000	12,050,000
0.5	Inferred	1.04	308,311,000	10,306,000
UNDER PIT
0.75	Indicated	1.29	2,867,000	119,000
0.75	Inferred	1.34	22,900,000	986,000

Mineral Resources for the primary resources are reported at a cut-off grade of 0. 5 0 g/t gold and constrained within an open pit shell using a gold price of US$1, 973 /ounce, US$2.50/t mining cost, US$ 14 /t processing cost, US$2.00/t G+A, 72 % gold recover y , and a 45° pit slope. Tonnes and ounces rounded to the nearest thousand.

Comparison Sept 2024 and Feb 2023 Resource Estimates

	Indicated Primary Resource - Open Pit			Inferred Primary Resource - Open Pit			Oxide Indicated
	Moz	gpT	Cutoff Grd	Moz	gpT	Cutoff Grd	Moz	gpT	Cutoff Grd
Feb-23	11.1	0.99	0.5	7.1	0.92	0.5	0.7	0.39	0.15
Sep-24	12.1	1.08	0.5	10.3	1.04	0.5	0.9	0.49	0.15
Change	8 %	9 %		45 %	13 %		43 %	26 %

The updated resource is the result of primarily infill drilling, upgrading areas considered waste in the February 2023 drill program due to lack of drill density. Ounces and grades increased materially in all categories considered within an open pit context. It is expected that further infill drilling may also positively impact stripping ratios when a mine plan is optimized. Freegold's 2024 drill program is focusing on the west and southwest of the existing resource where soil geochemistry, found to be a strong indicator, and historic gold mines have outlined two logical corridors that extend approximately 1.5 km; in context, Golden Summit's current resource occupies a 1.5 km east-west footprint.

The current estimate is based on a gold price of $1,973 , which reflects the three-year trailing average. Even though the 2024 resource estimate uses a higher gold price than the $1,792 in 2023, this is balanced by a lower recovery rate (72% vs. 90%). Previously, the 2023 resource plan considered using CIL (carbon-in-leach) and oxidation to process the sulphide flotation concentrate for higher recoveries. However, positive test results released earlier this year indicate that a significant portion of the mineralization is non-refractory and can be processed using much less costly gravity and CIL. Although the recovery is projected to be lower, the overall operating and capital cost savings would more than compensate and simplify the project substantially. The 72% recovery used for the resource is believed to be conservative. The reported test work showed recovery rates of up to 87.5%, with an average recovery of 77% using gravity and CIL, based on 5,100 kg of material and eight composites. Furthermore, initial indications are that mineralization to the west, where our 2024 drill program is concentrated, achieves higher recoveries. Additional optimization work and metallurgical samples from four large-diameter drill holes completed will be used for further metallurgical testwork.

The latest resource estimate shows an increase in the resource size and a notable improvement in grade. The discovery cost remains exceptionally low at under $4.00 per ounce. Golden Summit has a substantial resource and presents an excellent development opportunity due to its proximity to robust infrastructure - road accessibility, proximity to a supply centre, and available labour force, all of which are expected to contribute to lower operating costs.

Additional drilling will focus on improving the ore quality and outlining a smaller, higher-grade starter pit within the deposit as the project moves towards pre-feasibility to reduce operating and initial capital costs. The updated resource's results demonstrated this approach's success with its increase in overall resource grades at the various cut-offs. Trade-off studies will be conducted to optimize the overall economics and balance improved recovery rates with capital and operating costs as the project progresses. Additional metallurgical work is also in progress, and four large diameter (PQ) boreholes have been drilled this year. These will undergo a comprehensive suite of metallurgical tests to assess various processing methods to improve recoveries and further reduce the project's risks.

Since 2020, Freegold has completed over 123,000 meters of drilling and established Golden Summit as one of North America's largest undeveloped gold resources.

The 2023 drill program at Golden Summit discovered higher-grade mineralization on the western side of the existing resource. In 2024, the plan is to continue drilling on the portion west of the Dolphin/Cleary deposit and extend exploration drilling further to the west. The 2024 drilling program at the Golden Summit project is progressing well; additional assay results are expected to be reported shortly.

The table below displays the specific cut-off grades within and below the current $1,973 pit.

CutOff Au g/t	Classification	Au g/t	Tonnes	Ounces
OXIDE
1.00	Indicated	1.73	4,745,000	265,000
1.00	Inferred	1.77	127,000	7,000
0.75	Indicated	1.35	8,430,000	366,000
0.75	Inferred	1.17	359,000	14,000
0.50	Indicated	0.97	17,324,000	541,000
0.50	Inferred	0.84	919,000	25,000
0.40	Indicated	0.81	24,758,000	647,000
0.40	Inferred	0.72	1,322,000	31,000
0.15	Indicated	0.49	59,414,000	937,000
0.15	Inferred	0.45	3,252,000	47,000
PRIMARY
1.00	Indicated	2.07	99,704,000	6,628,000
1.00	Inferred	2.01	82,640,000	5,352,000
0.75	Indicated	1.55	174,604,000	8,694,000
0.75	Inferred	1.49	151,918,000	7,271,000
0.50	Indicated	1.08	346,304,000	12,050,000
0.50	Inferred	1.04	308,311,000	10,306,000
0.40	Indicated	0.92	461,582,000	13,711,000
0.40	Inferred	0.88	426,343,000	12,003,000
0.15	Indicated	0.66	778,574,000	16,609,000
0.15	Inferred	0.62	752,540,000	14,960,000
UNDER PIT
1.00	Indicated	1.89	1,193,000	73,000
1.00	Inferred	1.82	11,605,000	677,000
0.75	Indicated	1.29	2,867,000	119,000
0.75	Inferred	1.34	22,900,000	986,000
0.50	Indicated	0.84	7,958,000	216,000
0.50	Inferred	0.87	61,179,000	1,720,000
0.40	Indicated	0.66	14,765,000	313,000
0.40	Inferred	0.71	100,288,000	2,282,000
0.15	Indicated	0.35	64,264,000	720,000
0.15	Inferred	0.41	290,423,000	3,826,000

The mineral resource estimate (MRE) was carried out using ordinary kriging of three-meter composites. The MRE was constrained by two lithological domains, Intrusive and Schist, that were further constrained by a 0.2 g/t gold gradeshell. Hard boundaries were used for the Intrusive and Schist domains so that only composites from each domain were used for the estimation of block grades within that domain. An Oxide domain was flagged within the upper portion of the Schist domain after the estimation process. Composite grades in the Intrusive domain were capped at 20 g/t gold and those within the Schist domain were capped at 90 g/t. Cumulative frequency curves were used to determine capping levels. The estimate was carried out in a single pass with a minimum of four and a maximum of 12 composites, with a maximum of two per drill hole, required for a grade to be interpolated into a block. Blocks were classified as Indicated or Inferred. Indicated blocks are based on a minimum of eight and a maximum of 12 composites within 100 meters of a block. Inferred blocks are based on a minimum of four and a maximum of 12 composites within 300 meters of a block. A maximum of two composites per drill hole was permitted in both categories.

In addition to the ongoing drill program, metallurgical, baseline environmental, cultural resource, and wetland studies are underway.

A plan map showing the locations of the 2024 drill holes - exploration and metallurgical holes can be found here:

https://freegoldventures.com/site/assets/files/6287/goldensummit_dolphin-cleary_resource_drilling_western_a.pdf

A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Laboratories. Core samples were prepared in ALS's facility using the PREP-31BY package. Each core sample is crushed to better than 70 %, passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, method code Au-AA23 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, Au-GRAV21. Additional Au screening is performed using ALS's Au- SCR24 method; select samples are dry-screened to 100 microns. A duplicate 50g fire assay is conducted on the fine fraction, and an assay is conducted on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS's North Vancouver and Reno facilities.

A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

Qualified Person and Technical Information

The MRE, with an effective date of September 9, 2024 , was prepared by Tetra Tech Canada. Greg Mosher, P. Geo and Maurie Marks , P.Eng of Tetra Tech Canada are "Qualified Persons" for the Updated Mineral Resource Estimate as defined in NI 43-101 and are considered to be "independent" of Freegold for the purposes of NI 43-101. Greg Mosher and Maurie Marks have reviewed and approved the scientific and technical information herein regarding the Golden Summit project. Greg Mosher visited Golden Summit on November 11 – 12, 2022. Greg Mosher and Maurie Marks visited the project on September 12, 2023 .

The full technical report, which is being prepared in accordance with NI 43-101 by Tetra Tech Canada, will be available on SEDAR ( www.sedarplus.com ) under the Company's issuer profile within 45 days from this news release.

Alvin Jackson, P.Geo, Vice President of Exploration and Development of the Company and a "Qualified Person" as defined in NI 43-101, has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein.

About Freegold Ventures Limited

Freegold is a TSX-listed company focused on exploration in Alaska. Through leases, it holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/10/c8722.html

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(TheNewswire)

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		Metal Price	(Cash Flow and Net Present Value in US$000)
Au Price	Ag Price	Undiscounted CF	NPV @ 5%	NPV @ 8%	NPV @ 10%	IRR
$ 1,600	$ 19.20	$ 35,490	$ 23,426	$ 17,656	$ 14,302	22%
$ 1,650	$ 19.80	$ 44,419	$ 30,968	$ 24,509	$ 20,744	28%
$ 1,700	$ 20.40	$ 53,433	$ 38,576	$ 31,417	$ 27,237	33%
$ 1,750	$ 21.00	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
$ 1,800	$ 21.60	$ 70,801	$ 53,239	$ 44,736	$ 39,755	43%
$ 1,850	$ 22.20	$ 79,280	$ 60,399	$ 51,242	$ 45,871	48%
$ 1,900	$ 22.80	$ 87,855	$ 67,641	$ 57,822	$ 52,057	53%

		Revenue
		Undiscounted CF	NPV @ 5%	NPV @ 8%	NPV @ 10%	IRR
	70%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
	80%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
	90%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
	100%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
	110%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
	120%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
	130%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%

		Operating Cost
		Undiscounted CF	NPV @ 5%	NPV @ 8%	NPV @ 10%	IRR
	70%	$ 123,722	$ 98,006	$ 85,454	$ 78,061	74%
	80%	$ 103,996	$ 81,368	$ 70,348	$ 63,866	63%
	90%	$ 83,401	$ 63,942	$ 54,496	$ 48,952	51%
	100%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
	110%	$ 40,221	$ 27,371	$ 21,211	$ 17,626	25%
	120%	$ 17,990	$ 8,559	$ 4,098	$ 1,525	11%
	130%	$ (4,240)	$ (10,254)	$ (13,015)	$ (14,575)	-3%

		Capital Cost
		Undiscounted CF	NPV @ 5%	NPV @ 8%	NPV @ 10%	IRR
	70%	$ 81,761	$ 64,349	$ 55,849	$ 50,842	67%
	80%	$ 75,281	$ 58,258	$ 49,976	$ 45,107	55%
	90%	$ 68,801	$ 52,168	$ 44,102	$ 39,373	46%
	100%	$ 62,322	$ 46,077	$ 38,229	$ 33,638	38%
	110%	$ 55,593	$ 39,782	$ 32,173	$ 27,733	31%
	120%	$ 48,736	$ 33,380	$ 26,022	$ 21,741	26%
	130%	$ 41,878	$ 26,979	$ 19,872	$ 15,748	21%

Bravada Files Technical Report for the Wind Mountain Au/Ag Project, Nevada, Including Phase I PEA Results of 38% IRR and US$46.1 Million After-Tax NPV@5%

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