Eric Sprott Announces Holdings in Freegold Ventures Limited

Eric Sprott announces that, today, 15,522,152 common share purchase warrants (Warrants) of Freegold Ventures Limited, (held by 2176423 Ontario Ltd., a corporation he beneficially owns) were exercised representing a decrease in holdings of approximately 2.4% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the exercise of these Warrants, Mr. Sprott beneficially owned and controlled 84,830,904 Shares and 24,613,102 Warrants representing approximately 23.0% of the outstanding Shares on a non-diluted basis and approximately 26.2% on a partially diluted basis assuming the exercise of such Warrants.

As a result of the Warrant exercise, Mr. Sprott now beneficially owns and controls 100,353,056 Shares representing approximately 27.3% of the outstanding Shares on a non-diluted basis. The Warrants exercised resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Freegold Ventures is located at 888-700 West Georgia Street, Vancouver, BC, V7Y 1G5. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Sprott's` office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

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