Fabled Silver Gold Corp. Announces $1.5m Financing and Share Consolidation

Fabled Silver Gold Corp. Announces $1.5m Financing and Share Consolidation

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) is pleased to announce that it intends to complete a non-brokered private placement financing of units ("Unit") for gross proceeds of up to C$1,500,000 at a (post-Consolidation - see below) price of C$0.10 per Unit (the "Offering

Each Unit will consist of one common share (a "Common Share") in the capital of the Company and one Common Share purchase warrant (a "Warrant") of the Company. Each Warrant shall be exercisable to acquire one Common Share at a price of C$0.15 per share for a period of 24 months from the closing date of the Offering. The Warrants shall each be subject to an acceleration right exercisable by the Company which will force the exercise of the Warrants should the Company's Common Shares trade at or above a volume-weighted average price of $0.25 on the TSXV for any 20 consecutive trading days following the closing date of the Offering.

Closing is expected to occur on or about January 31, 2023, and may occur in one or more tranches. The Company may pay a finders fee in appropriate circumstances in respect of subscriptions for Units by investors introduced to the Company by finders.

All securities issued pursuant to the Offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. Closing of the Offering is subject to the approval of the TSX Venture Exchange (the "TSXV") and the receipt of all required regulatory approvals, including approval of the Consolidation (see below).

The proceeds from the Offering will be used by the Company to make required property payments, to further explore the Santa Maria Property, and for general working capital.

Consolidation

At a special meeting of shareholders of the Company held on January 10, 2023 (the "Meeting"), the shareholders of the Company approved, among other things, a consolidation of the outstanding securities of the Company on an up to ten (10) for one (1) basis (the "Consolidation"). Please see the press release of the Company dated December 20, 2022 for further information regarding the Consolidation.

The board of directors of the Company has now determined to proceed with the Consolidation on a five to one (5:1) basis (the "Conversion Ratio"). As of today's date, the Company has 215,446,649 Common Shares issued and outstanding. Following the completion of the Consolidation (but before giving effect to the Offering), the number of issued and outstanding Common Shares of the Company will be approximately 43,089,330.

No fractional Common Shares will be issued under the Consolidation as fractional Common Shares will be rounded either up or down to the nearest whole number of Common Shares. Each fractional Common Share remaining after conversion that is less than half of a Common Share will be cancelled and each fractional Common Share that is at least half of a Common Share will be rounded to one whole Common Share. The exercise price and number of Common Shares issuable pursuant to the exercise of any outstanding convertible securities, including incentive stock options and warrants, will also be adjusted in accordance with the Consolidation Ratio.

The Consolidation is subject to the approval of the TSXV and the receipt of all required regulatory approvals. There will be no change to the name or trading symbol of the Company.

Management believes the Consolidation is in the best interest of shareholders. It will improve the Company's ability to attract new investors and to raise the capital required to advance its projects.

The shares will begin trading on the TSXV on a post- Consolidated basis on a date to be determined in consultation with the TSXV. The Company will provide updates on the same by the issuance of further press releases.

Letters of transmittal describing the process by which shareholders may obtain new certificates representing their post-consolidated Common Shares will be mailed to registered shareholders. Common Shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted at the Conversion Ratio through each shareholder's brokerage account. Non-registered shareholders should consult their broker for further information.

The securities offered in the Offering have not and will not be registered under the Securities Act of 1933 (the "1933 Act") and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the 1933 Act) unless the securities have been registered under the 1933 Act, or are otherwise exempt from such registration.

Option Plan

In addition to the Consolidation the Company is pleased to report that at the Meeting the shareholders approved the Company's amended and restated 10% rolling stock option plan dated December 13, 2022.

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico.

The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (NYSE American and TSX: AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

Mr. Peter J. Hawley, President and C.E.O. Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com

For further information please contact: info@fabledfco.com

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

SOURCE:Fabled Silver Gold Corp



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Fabled Silver Gold Corp Provides Update on Proposed Acquisition of Mecatona Property and Announces Extension to Annual General Meeting

Fabled Silver Gold Corp Provides Update on Proposed Acquisition of Mecatona Property and Announces Extension to Annual General Meeting

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) wishes to provide an update on its previously announced agreement with Kootenay Silver Inc. ("Kootenay") to acquire the Mecatona Property (the "Mecatona Property") located in Chihuahua, Mexico (the "Proposed Transaction") as announced and further described in the Company's press release dated February 21, 2023

The Company is still attempting to secure the funding required in order to complete the Proposed Transaction. The Company will provide a further update on the closing of the Proposed Transaction in due course.

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Fabled Silver Gold Corp receives Conditional Acceptance for the Proposed Acquisition of Mecatona Property

Fabled Silver Gold Corp receives Conditional Acceptance for the Proposed Acquisition of Mecatona Property

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO; OTC PINK:FBSGF, and FSE:7NQ) wishes to provide an update on its previously announced agreement with Kootenay Silver Inc. ("Kootenay") to acquire the Mecatona Property (the "Mecatona Property") located in Chihuahua, Mexico (the "Proposed Transaction") as announced and further described in the Company's press release dated February 21, 2023

The Company has now received the conditional acceptance of the TSX Venture Exchange (the "Exchange") to the Proposed Transaction. The Company is working towards completing final documentation including entering into a definitive agreement with Kootenay.

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Fabled Silver Gold Corp Provides Update on Proposed Acquisition of Mecatona Property and Announces Private Placement

Fabled Silver Gold Corp Provides Update on Proposed Acquisition of Mecatona Property and Announces Private Placement

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTC PINK:FBSGF)(FSE:7NQ) wishes to provide an update on its previously announced agreement with Kootenay Silver Inc. to acquire the Mecatona Property (the "Mecatona Property") located in Chihuahua, Mexico (the "Proposed Transaction") as announced and further described in the Company's press release dated February 21, 2023

The Company has been in the process of preparing required documentation in respect of the Proposed Transaction including a NI 43-101 Technical Report on the Mecatona Property. The Company is continuing to correspond with the TSX Venture Exchange (the "TSXV") regarding the Proposed Transaction and will provide further updates in due course.

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Fabled Silver Gold Corp Reports Termination of Santa Maria Option Agreement, Binding Letter of Intent for Acquisition of Mecatona Property, Termination of Private Placement , Resignation of Directors and Appointment of New Director

Fabled Silver Gold Corp Reports Termination of Santa Maria Option Agreement, Binding Letter of Intent for Acquisition of Mecatona Property, Termination of Private Placement , Resignation of Directors and Appointment of New Director

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) wishes to announce that its option agreement (the "Santa Maria Option Agreement") with Golden Minerals Company ("GMC") (NYSE American and TSX: AUMN) with respect to the Santa Maria Project will be terminated as of February 22, 2023

In addition the Company announces that on February 17, 2023 it entered into a binding letter of intent (the "Mecatona Agreement") with an arm's length vendor, Kootenay Silver Inc. (TSXV: KTN) ("Kootenay" or the "Vendor") to acquire the Mecatona Property (the "Mecatona Property") located in Chihuahua, Mexico (the "Proposed Transaction").

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Fabled Silver Gold Corp. Announces Effective Date of Share Consolidation

Fabled Silver Gold Corp. Announces Effective Date of Share Consolidation

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO), (OTCQB:FBSGF), and (FSE:7NQ) is pleased to announce that it has received TSX Venture Exchange ("TSXV") approval for the consolidation of the common shares (the "Common Shares") of the Company (the "Consolidation

As previously announced in its press releases dated December 20, 2022 and January 12, 2023 the shareholders of the Company approved a special resolution authorizing the Board of Directors of the Company (the "Board") to consolidate the Common Shares at the Board's discretion. The Board subsequently confirmed the Company's intention to proceed with the Consolidation on the basis of one (1) new post consolidated Common Share for every five (5) old pre consolidation Common Shares (the "Conversion Ratio").

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Prismo Metals Announces Closing of Private Placement and Debt Settlement Transactions

Prismo Metals Announces Closing of Private Placement and Debt Settlement Transactions

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Prismo Metals Inc. ("Prismo" or the "Company") (CSE:PRIZ)(OTCQB:PMOMF) is pleased to announce that further to its news release dated June 11, 2024, the Company has closed its previously announced non-brokered private placement (the "Private Placement") for gross proceeds of $1,147,500 through the issuance of 6,750,000 units of the Company ("Units

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Galloper Gold Annual General and Special Meeting Results

Galloper Gold Annual General and Special Meeting Results

Galloper Gold Corp. (CSE:BOOM) ("Galloper Gold" or the "Company") announces the results of its annual general and special meeting of common shareholders held on June 18, 2024 in Vancouver. Resolutions passed at the meeting included the appointment of D&H Group LLP Chartered Accountants as auditors for the ensuing year, an ordinary resolution to approve the adoption of the Company's omnibus equity incentive plan and the granting of equity awards thereunder in an amount up to 20% of the total issued and outstanding shares, and the election of Mark Scott, Ravinder Mlait, Bryan Loree, and Peter Lauder as directors

On behalf of the Board of Directors

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Quimbaya Gold Inc. Advances Strategic Growth with Proposed Acquisition of New Mining Title in Segovia, Colombia

Quimbaya Gold Inc. Advances Strategic Growth with Proposed Acquisition of New Mining Title in Segovia, Colombia

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

Quimbaya Gold Inc. ("Quimbaya Gold" or the "Company") (CSE: QIM) (OTCQB: QIMGF) is pleased to announce the signing of a definitive agreement for the acquisition of an additional mining property with gold and silver exploration potential, encompassing approximately 252 hectares.  The new secured title is SE9-13331 (252.7 Ha), referred to as the "Concession Contract,", is continuous northeast of Aris Mining's Segovia operation which significantly expands Quimbaya Gold's foothold in the burgeoning mining landscape of Segovia, situated northeast of Medellín, the regional capital of the Department of Antioquia, Colombia .

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Sylla Gold Amends Share Purchase Agreement to Acquire District Scale Land Package in Namibian Gold Belt

Sylla Gold Amends Share Purchase Agreement to Acquire District Scale Land Package in Namibian Gold Belt

Sylla Gold Corp. (TSXV: SYG) ("Sylla" or the "Company") announces that it has amended the share purchase agreement (the "Agreement") with Namibia Critical Metals. ("NMI") to acquire four gold properties located in Namibia as announced on March 4, 2024. Under the agreement, Sylla is to acquire NMI's 95% interest in its Namibian subsidiaries that own the rights, title and interest to the Grootfontein, Erongo, Otjiwarongo, and Kaoko licences, (Figure 1) and certain associated assets.

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[Video Enhanced} Prismo Metals raises money, targets 5,000 meter drill program in the heart of Arizona's Copper Belt

[Video Enhanced} Prismo Metals raises money, targets 5,000 meter drill program in the heart of Arizona's Copper Belt

(TheNewswire)

Prismo Metals Inc.

Vancouver, BC TheNewswire - June 13, 2024  Global Stocks News On June 11, 2024 Prismo Metals (CSE: PRIZ) (OTCQB: PMOMF) updated the market with three significant announcements .

1. The company has received commitments for a $1.1 million private placement of units at a price of $0.17 per unit.

2. At its Hot Breccia Copper Project (Arizona ), a drilling permit is expected this month.  The upcoming exploration program will focus on diamond drilling five holes with an expected depth of 1,000 metres each .

3. At its Palos Verdes Silver Project (Mexico), there is a plan for a two-phase, 10-hole 3,600- meter drill program .

Prismo Metals is a base and precious metals company strategically positioned to benefit from the global transition to green energy (copper & silver) and the dedollarization of international currencies (gold).


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1. Non-Brokered Private Placement

Prismo received commitments for 6,500,000 units @ $0.17 per Unit for gross proceeds of $1,105,000 expected to be finalized on or around June 18, 2024.

Each Unit comes with a half-warrant.  Each whole warrant entitles the holder to purchase one common share or Prismo for two years @ $0.25.

"We are pleased to welcome several new incoming shareholders who will be participating in the Private Placement ," stated Steve Robertson, President of Prismo Metals .

2. Hot Breccia Copper Project

The Hot Breccia property consists of 1,420 hectares, 227 contiguous mining claims located in the world class Arizona Copper Belt between several very well-understood world-class copper mines including Morenci, Ray and Resolution .

"At the Hot Breccia property, we're out in the desert and there's not a lot around except mines and mining towns," Alain Lambert, Prismo CEO told Guy Bennett, CEO of Global Stocks News (GSN). "The two towns in the area, Hayden (pop. 500) and Winkelman (pop. 290) are steeped in the history of Arizona mining. It's a mining friendly community with an experienced workforce."

" The anticipated exploration program at Hot Breccia will focus on diamond drilling five holes with an expected depth of 1,000 metres each , for a program total of 5,000 metres ," state Robertson in the June 11, 2024 press release. "We will soon be drilling a very exciting copper target, located in a favorable jurisdiction."

The Christmas project 4 kilometers north, is a model for Hot Breccia mineralization. It is associated with intermediate intrusive rocks into favorable sedimentary rocks. There are historic drill holes from 70's and early 80's on and near the property.

"The Christmas Mine started production before World War One and operated until 1982, with a small smelter on the property," Robertson told GSN. "It produced 25 million tonnes of 1.5% copper.  Christmas is a good indicator of the type of mineralization we are searching for at Hot Breccia."


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When investors hear "copper" they typically think "Chile" "Australia" or "Peru", but Arizona, USA is a major copper producer.

"If Arizona were a country, it would be the seventh largest producer of copper in the entire world," states the Arizona Mining Association .

There are 10 major copper mines in production in Arizona.  About 75% of US copper output comes from The Grand Canyon State.

According to the 2023 Fraser Institute Mining Survey , Arizona is the 7 th best mining jurisdiction on the global investment attractiveness index , which takes into account the impact of both policy factors and mineral endowment .

Chile, by contrast, ranks 60 th on the global investment attractiveness index.


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The Arizona Copper Belt has attracted some big mining companies.

Freeport-McMoRan (NYSE: FCX) – a $70 billion global resource company headquartered in Arizona operates the Morenci Mine which employs 3,760 workers, with a direct economic impact to the state of $691 million .

The Morenci Mine is a porphyry copper deposit that has oxide, primary and secondary sulfide mineralization.

Prismo's project, Hot Breccia shows many features in common with the neighboring systems of Morenci , Ray and Resolution .

On March 4, 2024 Prismo announced that it is engaging Exploration Technologies from San Diego, California to apply xFlare, their Artificial Intelligence (AI)-Optimized drill planning solution, to the Hot Breccia Project where a number of features suggests well mineralized Arizona-style Copper Porphyry lies at depth.

Prismo ran a ZTEM survey last year that identified a large conductive anomaly directly beneath the breccia outcrops.  Prismo expects xFlare's AI technology to zero in on where and at what depth to drill.

"ZTEM gives you a clear window into what's going on at depth," Robertson told GSN. "It's also an economic filter.  Small, mildly conductive zones are not going to show up. That's good for us. We're looking for big anomalies."


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3. At Palos Verdes Silver Project (Mexico), a plan for a two-phase, 10-hole 3,600- meter drill program .

The planned drill holes at Palos Verdes will be drilled from Vizsla Silver Corp (TSXV: VZLA) concessions, adjacent to the Palos Verdes concession and will target the Palos Verdes vein at depth," states PRIZ in the June 11, 2024 PR.

The project is located in the historic Pánuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia.

The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein.  The mineralization is open in all directions and the currently planned drilling program is designed to follow it along strike and to depth.

" Immediately following closing of the Private Placement, we will mobilize our drilling crew at our Palos Verdes for our next phase of drilling," stated Craig Gibson, Prismo Co-Founder and Chief Exploration Officer, " These holes will target the Palos Verdes vein at depth."

The Company completed its third drill campaign last year with 2,923 meters drilled in 15 holes with high grade mineralization encountered in several holes.

Assays included hole PV-23-25 with 102 g/t gold , 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent.


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Prismo Metals recently gave a presentation at the Deutsche Goldmesse conference in Germany, hosted by Soar Financial Partners.

"The Arizona Copper Belt is one of the most productive copper belts on the face of the planet," Robertson told the conference attendees in Frankfurt. "We're surrounded by world class deposits."

"One hundred kilometers to the east of our property, is Morenci which has a 75-billion-pound copper endowment," continued Robertson, "Forty kilometers to the north is Resolution which has 1.6 billion tons of 1.6% Copper. Morenci and Resolution are important to the thesis driving our exploration objectives at Hot Breccia."


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The global industrial shift towards renewable energy, electric vehicles, and the burgeoning AI sector has boosted copper's demand outlook.

"Copper is the most compelling trade I have ever seen in my 30-plus years of doing this," stated Carlyle chief strategy officer, Jeff Currie . The price of copper has risen 20% in 2024.  Currie expects it to reach $15,000 a ton in the next couple of years, about a 45% gain.

"S&P Global forecasts that copper demand will double, reaching 50 million metric tons by 2035," reports Euro News on May 15, 2024 . "The most significant demands are expected to emanate from the US, China, Europe, and India."

Prismo's Hot Breccia Copper Project in Arizona is designed meet future copper demand.

Disclaimer: Prismo Metals paid GSN CND $1,500 for the research, creation and dissemination of this content.

Contact: guy.bennett@globalstocksnews.com

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Freegold Announces Positive Metallurgical Results from Golden Summit

Freegold Announces Positive Metallurgical Results from Golden Summit

  • An average gold recovery of 77% from eight composites using conventional processing techniques – gravity and CIL (carbon-in-leach)
  • 97% using gravity + flotation.
  • A flowsheet of gravity-flotation-CIL on reground concentrate yields 72% gold recovery along with a high mass desulfurized tailings stream
  • Further optimization studies are underway.

 Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to announce positive results based on the initial metallurgical test work completed from the 2020 2022 drill program. The program's objectives were:

Freegold Ventures Limited (CNW Group/Freegold Ventures Limited)

  • Determination of gold recovery and gold deportment to products using standard and commercially employed mineral processing unit operations
  • Initial environmental assessment of process tailing stream(s)
  • Characterization of gold losses to focus ongoing metallurgical programs to optimize the flowsheet design.

Eight drill core composites representing various locations and grades within the Dolphin/Cleary areas were generated using continuous drill intervals selected to represent potential mill feed. ( See map below for hole locations. ) The drill hole and interval selections encompassed the three primary gold-hosting lithologies. Results demonstrate that a significant portion of the mineralization is non-refractory and amenable to conventional processing techniques. The composites were prepared using laboratory assay rejects of fresh rock intervals well below the existing oxide cap at Golden Summit. The eight drill hole composites used 1,192m of drill intercepts representing 587 continuous mineralized intervals with over 5,100kg of material.  Results from individual holes demonstrate recoveries up to 87.5%.  The average recovery from the eight composites was 77% using gravity and CIL. Recoveries increased to an average of 97.5% where gravity + flotation were utilized. Environmental characterization using standard ABA protocols gave a NP:AP ratio of 85:1 on the flotation tailings stream, which would classify them as non-acid generating.

Metallurgical Composite Hole Results

DDH no.

from m

to m

geochem

test calc grade

gold recovery %






grav/flot/regr CIL

grav/CIL

gravity

grav+flot




Au g/t

Au g/t














GS2201

441.1

648.3

1.44

1.06

88.2

87.1

45.0

99.2










GS2203

287.8

478

2.13

2.24

75.1

77.2

48.2

97.6










GS2206

383.1

586.1

1.17

1.02

80.2

87.5

42.7

97.3










GS2207

261.9

468.7

1.35

1.78

60.1

70.2

37.8

98.1










GS2208

266.3

367.2

1.33

1.48

48.1

53.3

25.3

97.5










GS2209

419

544.5

1.26

1.54

73.6

81.2

50.7

97.0










GS2168

352.7

479.5

0.75

0.83

63.7

73.2

31.1

94.3










GS2167

396.3

428

2.15

1.01

71.7

69.2

49.5

96.3










overall predicted grade

1.43















overall calc grade/recovery from test work


1.43

72

77

42

97

The drilling success at Golden Summit since 2020 has been truly remarkable. It has significantly increased the resource and enhanced the project's potential. These positive metallurgical results further solidify Golden Summit's potential. The current pit-constrained resource at Golden Summit hosts both an oxide and a primary resource. The oxide resource is contained within the top 70% metres. Previous column testwork on the oxide material demonstrated that heap leach gold recoveries of 85% can be achieved within two weeks.

Pit Constrained OXIDE Resource using $1,792 Gold

Cutoff Au g/t

Category

Tonnes

Au g/t

Au Ounces

0.15

Indicated

52,030,000

0.39

657,000

0.15

Inferred

18,187,000

0.47

272,000

(approximately top 70 metres)

Pit Constrained PRIMARY Resource using $1,792 Gold: ( February 2023 )

Cutoff Au g/t

Category

Tonnes

Au g/t

Au Ounces

0.45

Indicated

407,544,000

0.92

12,011,000

0.45

Inferred

282,303,000

0.85

7,736,000

Following the February 2023 resource update, Freegold conducted an additional 22,000 meters of drilling in 37 holes within the resource area. A significant increase in visible gold was observed in the drill core compared to previous programs, particularly in the western part of the resource.  An updated mineral resource report based on the 2023 drilling is expected later this month. The success of the 2023 drilling program has set the stage for an even more exciting 2024 program. The upcoming phase will focus on optimization, testing the 2km gold-in-soil geochemical anomaly to the west, drilling large diameter (PQ) holes to guide further and optimize metallurgical recoveries, and modelling before economic studies commence. Freegold has postponed the economic studies to investigate the potential for higher grades in the western extension and to conduct additional metallurgical test work, as both could significantly impact the project's economics. The primary areas of focus in the next phase of metallurgical test work are:

  • Comminution studies using half PQ core
  • Flotation concentrate oxidation pre-treatment prior to CIL

Map Showing Location of Metallurgical Composite Holes and 2024 Drilling

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

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited

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

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

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