FREEGOLD ANNOUNCES A SIGNIFICANTLY INCREASED MINERAL RESOURCE ESTIMATE FOR THE GOLDEN SUMMIT PROJECT

Freegold Ventures Limited ("Freegold" or the "Company") (TSX: FVL) (OTCQX: FGOVF) is pleased to report an updated Mineral Resource Estimate (the "Updated Mineral Resource Estimate" or "Updated MRE") for its Golden Summit project located near Fairbanks, Alaska . The Updated Mineral Resource Estimate is based on a drill program designed to expand, upgrade and increase the overall resource grade at the Golden Summit project.

From 2020 to 2022, over 83,000 metres of drilling were completed in 131 holes in the Dolphin Cleary Area of the Golden Summit project. The Updated MRE has incorporated 128 holes of the drilling completed, which has resulted in a significant increase in both the overall resource grade and tonnage at Golden Summit. Assays for two drill holes were not complete at the resource cut-off date ( February 6, 2023 ) and have therefore not been incorporated in the Updated MRE.

The Updated Mineral Resource Estimate was prepared by Tetra Tech Canada. A total of 72,196 assays were incorporated. Gold composite values were capped at 30 g/t with a range restriction: composites were used at their full value within 20 meters of the composite location, beyond which, they were capped at 30 g/t, as the drop in aggregate sum of the gold composite values after capping was 6.2%, indicating that the outlier gold values had an influence disproportionate to their number. Capping affected approximately 0.07% of the population (31 samples)

The resource is pit constrained using a three-year trailing average gold price of $1,792 /oz.

The Updated Mineral Resource Estimate is restricted to the Dolphin Cleary Area of the Golden Summit project. The Dolphin-Cleary is the only area of the project to have a resource delineated. The deposit at Golden Summit remains open, particularly to the west and the southwest, where Freegold has outlined a strong gold in soil geochemical anomaly that has not been drill tested. Further southwest lies the historic Newsboy Mine, which produced 40,000 ounces at an average grade of 1oz/t. Other exploration targets within this remarkable project include the Saddle Zone and the Hi Yu area both of which host historic high-grade producers (Saddle Zone – American Eagle 60,000 ounces @ 1.6 oz/t, Hi Yu – 110,000 ounces @ 1.6 oz/t).

Kristina Walcott , President and Chief Executive Officer of Freegold, comments: "The Golden Summit project represents one of the largest undeveloped gold resources in North America. The 2023 exploration program is expected to further expand upon the deposit as well as to test other targets within this highly prospective property with additional drilling. The past three years have been transformative for the Company, having increased the in pit resource significantly since this latest drill program began. Freegold continues to have one of the lowest discovery costs per ounce in the industry at less than ~$4.00 /oz. We are extremely pleased with the results of our efforts and look forward to completing an updated economic assessment later this year. "

The Updated Mineral Resource Estimate is divided into three parts: Pit-Constrained Oxide, Pit-Constrained Primary, and Under Pit.

Golden Summit Pit-Constrained Oxide Au g/t
Cutoff Au g/t	Row Labels	Tonnes	Au_gpt	Au Ounces
1.00	Indicated	2,479,000	1.78	142,000
1.00	Inferred	1,456,000	2.25	105,000
0.75	Indicated	4,139,000	1.41	187,000
0.75	Inferred	1,995,000	1.88	120,000
0.50	Indicated	10,209,000	0.93	304,000
0.50	Inferred	3,502,000	1.33	150,000
0.45	Indicated	12,301,000	0.85	336,000
0.45	Inferred	4,130,000	1.20	159,000
0.30	Indicated	22,544,000	0.63	455,000
0.30	Inferred	7,405,000	0.83	198,000
0.25	Indicated	29,056,000	0.55	513,000
0.25	Inferred	9,986,000	0.69	220,000
0.15	Indicated	52,030,000	0.39	657,000
0.15	Inferred	18,187,000	0.47	272,000
0.10	Indicated	67,321,000	0.33	718,000
0.10	Inferred	24,775,000	0.37	298,000

Golden Summit Pit-Constrained Primary Au g/t
Cutoff Au g/t	Row Labels	Tonnes	Au_gpt	Au Ounces
1.00	Indicated	95,429,000	1.81	5,554,000
1.00	Inferred	50,012,245	1.83	2,941,000
0.75	Indicated	276,938,000	1.36	12,122,000
0.75	Inferred	105,332,000	1.32	4,469,000
0.50	Indicated	349,648,000	0.99	11,128,000
0.50	Inferred	239,561,000	0.92	7,084,000
0.45	Indicated	407,544,000	0.92	12,011,000
0.45	Inferred	282,303,000	0.85	7,736,000
0.30	Indicated	646,571,000	0.71	14,854,000
0.30	Inferred	446,921,000	0.68	9,702,000
0.25	Indicated	741,813,000	0.66	15,697,000
0.25	Inferred	515,081,000	0.62	10,306,000
0.10	Indicated	979,714,000	0.54	17,086,000
0.10	Inferred	717,639,000	0.50	11,446,000

Golden Summit Under Pitshell Au g/t
Cutoff Au g/t	Row Labels	Tonnes	Au_gpt	Au Ounces
1.00	Indicated	779,000	2.02	51,000
1.00	Inferred	7,389,000	1.62	385,000
0.75	Indicated	1,600,000	1.42	73,000
0.75	Inferred	15,776,000	1.21	614,000
0.50	Indicated	4,820,000	0.87	135,000
0.50	Inferred	49,296,000	0.80	1,260,000
0.45	Indicated	5,897,000	0.80	151,000
0.45	Inferred	60,576,000	0.74	1,432,000
0.30	Indicated	11,712,000	0.58	219,000
0.30	Inferred	100,407,000	0.59	1,912,000
0.25	Indicated	15,676,000	0.50	254,000
0.25	Inferred	119,057,000	0.54	2,076,000
0.10	Indicated	37,179,000	0.31	367,000
0.10	Inferred	214,981,000	0.37	2,572,000

For the pit-constrained resource, the mining, processing and G&A costs amount to US$25.70/tonne which results in a cutoff grade of 0.45 g/t Au (25.70/57.61 = 0.446 rounded to 0.45 g/t). The oxide portion of the Pit-Constrained resource has an estimated processing cost of approximately US$4.10/tonne, which translates to a cutoff grade of 0.12 g/t Au (4.10+1.9+0.9 =6.90/57.61 = 0.12). This has been rounded up to 0.15 g/.t.For the underground resource, the mining method is assumed to be block caving, with a cost of US$20.00 / tonne, which translates to a cutoff grade of 0.75 g/t Au. The base cases for both the pit-constrained and underground resources are highlighted. Gold grades have been rounded from four decimal places to two.

The 2020-2022 drill program focused exclusively on the Dolphin Cleary Zone at the Golden Summit project and extended gold mineralization over 1.5 km along strike and to depths of over 1,000 metres. Mineralization in the Dolphin Cleary Zone is hosted within a broad structural corridor of gold mineralization comprised of the Dolphin stock, a multiphase intrusive complex, and metasedimentary rocks comprised of various schists within which are discrete high-grade veins, veinlets, and areas of vein stockwork which effectively form a vein swarm, that occasionally contain exceptional high grades. The main Cleary Hill Vein swarm ("CVS") mineralization dips to the south. It plunges southwest towards the Dolphin intrusive, with the mineralization increasing in intensity closer to the Dolphin intrusive and especially along the contact margins.

The highway-accessible Golden Summit project is located approximately 32 km northeast of Fairbanks, Alaska , and was the subject of an intensive drill campaign between January 2011 and August 2013 in which 36,159 metres were drilled. Three resource updates were completed each in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). In January 2016 , a preliminary economic assessment (the "2016 PEA") prepared in accordance with NI 43-101 was produced for the Company by Tetra Tech. Between 2013 and 2020 limited drilling was conducted (approximately 1,890 metres of shallow oxide drilling). Since 2020, over 83,000 meters have been drilled, representing the most focused exploration effort ever undertaken on the Golden Summit project, and resulting in the Updated Mineral Resource Estimate. The 2016 PEA has not been updated in light of the Updated MRE, and the updated Mineral Resource Estimate updates and replaces the mineral resource estimate of the Company contained in the PEA. An updated PEA will be completed later in 2023.

Freegold will file within 45 days an updated technical report for the Golden Summit project, including a description of the Updated Mineral Resource Estimate contained herein. Further information regarding the Updated MRE will be set forth in this report. An updated PEA is expected later in 2023.

Quality Control and Reporting Protocols

The Company implemented a sample quality control/quality assurance ("QA/QC") 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 Chemex. All assays were performed by ALS Chemex., with sample preparation conducted at the ALS facility in Fairbanks, Alaska , with subsequent studies conducted primarily using its Vancouver and Reno laboratories.

Core samples were prepared using the PREP-31BY package in ALS's Fairbanks facility. Each core sample was crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg was 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 analyzed 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 was performed using ALS's Au- SCR24 method; select samples were dry-screened to 100 microns. A duplicate 50g fire assay was conducted on the little fraction and an assay on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures were conducted in ALS's North Vancouver and Reno facilities. A QA/QC program included laboratory and field standards inserted every ten samples. Blanks were inserted at the start of the submittal, and at least one blank every 25 standards, with additional blanks inserted following samples of visible gold. Core Samples were also prepared using the PRP80-1Kg using the Bureau Veritas facilities. 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-ES (method code MA200). Fire Assay analyzes all samples with an AAS finish, method code FA-430 (30g sample size) and over 10 g/t are automatically assayed using a FA Grav method, FA530. Additional Au screening is performed using BV's FA632 method; select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the little fraction, as well as an assay on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Crushing was conducted at BV's Fairbanks facility, with subsequent analysis conducted by its Vancouver , Reno and/or Hermosillo 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 with additional blanks inserted following samples of visible gold.

Freegold has a full-service camp at Golden Summit with COVID-19 protocols in place.

Qualified Person and Technical Information

The Updated MRE, with an effective date of 21 February 2023 , 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 is 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 conducted a site visit to Golden Summit on November 11 – 12, 2022.

The full technical report, which is being prepared in accordance with NI 43-101 by Tetra Tech Canada, will be available on SEDAR ( www.sedar.com ) under the Company's issuer profile within 45 days from this news release. The effective date of the Updated Mineral Resource Estimate is February 21, 2023 .

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 and holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Cautionary Statements Regarding Estimates of Mineral Resources

This news release uses the terms measured, indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimate disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum's "CIM Definition Standards on Mineral Resources and Mineral Reserves" incorporated by reference into NI 43-101 ("CIM"). Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.

Cautionary Note Regarding Forward-Looking Information

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 prospects, if any, of the Dolphin Cleary deposit, timing and ability of the Company to file an updated NI 43-101 technical report for the mineral resource estimate disclosed in this news release, the Golden Summit Project representing one of the largest undeveloped gold resources in North America , expected further testing at other targets at the Golden Summit Project, 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, 2021 , 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 there has been a reduction in these effects 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 at this time. The risks to Freegold of such public health crises also include risks to employee health and safety 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: https://www.newswire.ca/en/releases/archive/February2023/22/c1713.html

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FVL:CA

Freegold Significantly Upgrades and Expands Resources at Golden Summit

2024's drill program was highly successful at converting Inferred resources, upgrading and expanding Indicated resources – meeting the key objectives and providing a foundation for Pre-Feasibility activities.
Indicated Primary Mineral Resource: 17.2 Moz at 1.24 g/t Au, a 42% increase in ounces and 15% grade increase from our Sept/24 resource estimate.
Inferred Primary Mineral Resource: 11.9 Moz at 1.04 g/t Au, a 11 % increase in ounces, at the same grade
Cut-off grades are unchanged at 0.50 g/t Au.
The 2025 Program will consist of infill and expansion drilling. Infilling is expected to continue the trend of enhancing grade and ounces, while converting Inferred Resources to Indicated Resources.
Ongoing Metallurgical Work has demonstrated >90% recoveries with sulphide-oxidizing methods such as BIOX®, POX, and the Albion Process™. Additional test work is ongoing for these and conventional processing methods.

2025 PROGRAM

Drilling in progress with four rigs, 30,000m planned.

Conversion of inferred resources into indicated & further exploration drilling.
Ongoing metallurgical work, focusing on flowsheet optionality with sulphide oxidation is a key part of our strategy to maximize the potential of the resource
.
Commencement of a Pre-Feasibility Study (PFS) in late 2025.

Freegold Ventures Limited (TSX: FVL,OTC:FGOVF) (OTCQX: FGOVF) ("Freegold" or the "Company") is pleased to announce an updated mineral resource estimate ("MRE") for its Golden Summit Project, located near Fairbanks, Alaska . In line with the results from our 2023 drill program, the 2024 program has significantly increased the number of ounces and improved Indicated grades, all while maintaining finding costs below US$4 per ounce. This new estimate incorporates data from drilling conducted in 2024 and includes metallurgical recoveries from our extensive metallurgical program. This represents another critical milestone in our ongoing exploration and development efforts.

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Freegold Ventures Limited - Results of the Annual General and Special Meeting

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company ") is pleased to announce that all matters set out in the Management Information Circular dated May 26 2025 for the 2025 Annual General and Special Meeting of Shareholders held on June 27, 2025 (the "Meeting") were approved by the shareholders holding 98,154,137 shares were voted representing approximately ~ 18.56% of the outstanding shares of the Company.

The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:

MOTIONS	NUMBER OF SHARES			PERCENTAGE OF VOTES CAST
MOTIONS	FOR	AGAINST	WITHHELD/ ABSTAIN	FOR	AGAINST	WITHHELD/ ABSTAIN
To elect as Director :Kristina Walcott	96,353,303		1,800,834	98.165 %		1.835 %
To Elect as Director: Alvin Jackson	97,016,593		1,137,544	98.841 %		1.159 %
To Elect as Director: David Knight	85,790,018		12,364,119	87.403 %		12.597 %
To Elect as Director: Garnet Dawson	97,308,977		845,160	99.139 %		0.861 %
To Elect as Director: Ron Ewing	96,839,477		1,314,660	98.661 %		1.339 %
To Elect as Director: Glen Dickson	85,396,927		12,757,210	87.003 %		12.997 %
To Elect as Director: Reagan Glazier	79,513,338		18,640,799	81.009 %		18.991 %
To Elect as Director: Maurice Tagami	97,900,807		253,330	99.742 %		0.258 %
To Elect as Director: Vivienne Artz	93,614,569		4,539,568	95.375 %		4.625 %

The Company's shareholders approved the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the Company's auditors, as set forth in the management information circular.

The Company's shareholders approved the Company's new omnibus equity incentive plan.

Each of the matters voted upon at the Meeting is discussed in detail in the Company's Information Circular dated May 26 ^th, 2025, which is filed under the Company's profile at www.sedarplus.com.

Golden Summit Project Update:

Drilling at Golden Summit is progressing well. Drilling is focused on resource definition, which includes both expansion and infill drilling, as well as geotechnical and metallurgical holes. Like the 2024 drill program, the current efforts aim to upgrade inferred resources to indicated status in preparation for the upcoming pre-feasibility study, which is expected to commence later this year. An updated mineral resource estimate is expected to be finalised soon, and the initial assay results from the 2025 drill program are also anticipated shortly.

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, 2024 , 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/June2025/27/c9322.html

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With Gold Near All-Time Highs, Miners Shift into Execution Mode

Equity Insider News Commentary

Issued on behalf of Lake Victoria Gold Ltd.

Equity Insider News Commentary Major banks continue to amplify the gold bulls, with the most recent bullish forecast coming from Bank of America . And instead of pointing towards mounting geopolitical tensions, BoA is pinning its $4,000 oz gold forecast on US debt concerns, not war. Just as gold crossed over $3,400 per ounce again, Commerzbank is another that sees gold's price rising more significantly soon. Several experts in the precious metals space can see gold hitting $4,000 within a year . Analysts are calling for a mining equities breakout causing several gold stocks to attract more attention, including Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF), ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF), Freegold Ventures Limited (TSX: FVL,OTC:FGOVF) (OTCQX: FGOVF), Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF), and LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF).

State Street Global Advisors maintains that gold remains a smart play , citing its enduring appeal and upside potential. Meanwhile, analysts at Jefferies argue the sector is still mispriced, with many gold stocks trading as if bullion were capped at $2,500 per ounce —despite the metal hovering much higher.

Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) is accelerating its push toward potential near-term production with the launch of a 7,750-meter drill program at Area C, the highest-grade zone within its fully permitted Imwelo Gold Project in northwestern Tanzania . Designed to support final mine planning and de-risk initial pit design, the campaign targets both grade control and deeper extensions to help shape what could become the project's first open-pit operation.

"We've designed this program to maximize Imwelo's short-term production readiness while extending the upside case," said Marc Cernovitch, President and CEO of Lake Victoria Gold . "The drill data will help us finalize early mine scheduling, validate pit design, and potentially unlock high-grade extensions. With Area C now fully defined as our initial production zone, we're making meaningful progress toward becoming Tanzania's next gold producer."

The program includes 3,750 meters of RC drilling on a tightly spaced 10x10 metre grid to define early-stage ore/waste boundaries, supported by another 4,000 meters of strike and depth extension drilling. Intercepts to date from Area C include 6.8 meters at 14.6 g/t gold and 2 meters at 7.5 g/t—results that have positioned it as a compelling starting point within the broader resource footprint. Completion is targeted for Q3 2025, with construction decisions expected to follow based on final engineering and economic evaluations.

"We've optimized this program to deliver multiple layers of value—from detailed grade control to geotech validation and deeper exploration," said Seth Dickinson , P. Eng., Chief Operating Officer of Lake Victoria Gold . "The step-out and depth targets are especially compelling given the structural complexity we've seen to the west. The team is focused on accelerating toward a clean construction start with maximum technical confidence."

Imwelo is located just 12 kilometers from AngloGold Ashanti's Geita Mine and sits atop the Geita Greenstone Belt, one of Tanzania's most productive gold terrains. The project holds a 10-year mining license and is backed by a 2021 prefeasibility study outlining a scalable, low-capex development plan. With recoveries above 90% and contractor support from Taifa Mining —Tanzania's largest mining services group—the company is now advancing preparations to support a potential construction decision.

In parallel, Lake Victoria Gold continues to advance its high-priority Tembo Project , where a 3,000-meter drill program is planned at Ngula 1. This near-surface target has returned past intercepts of 28.57 g/t gold over 3 meters and 17.23 g/t over 4 meters. The current work is focused on confirming toll-milling potential while expanding geological understanding across the broader structural corridor—located adjacent to Barrick's Bulyanhulu Mine.

Barrick's Bulyanhulu (Buly) joint venture is quietly building shareholder exposure to potential long-term upside. Barrick and its partner (the Government of Tanzania ) have now completed over 21,600 meters of drilling across six non-core licenses acquired from LVG in 2021—having already spent more than US$5.56 million out of a US$9 million commitment.

This is all part of Buly's commitment that was made as part of the Asset Purchase Agreement (APA) signed in December 2021 , under which Buly acquired six non-core prospecting licenses from LVG . In addition to the US$6M upfront consideration received, LVG retains exposure to future exploration success through contingent payments of up to US$45 million tied to gold discoveries on the Project.

To support its near-term pathway, Lake Victoria Gold has signed a non-binding LOI with Nyati Resources for potential toll milling at Nyati's nearby 120-tpd processing plant. A new 500-tpd facility is expected to come online in the months ahead. Third-party firm Nesch Mintech Tanzania has been brought in to assess the plant's performance and technical readiness , and to help outline any modifications needed to support production.

Tembo's current 45-hole RC campaign at Ngula 1 is targeting near-surface gold zones with toll-milling potential, building on historical intercepts like 28.57 g/t gold over 3 meters and 17.23 g/t over 4 meters. By focusing on shallow targets first, LVG is aiming to establish early production optionality while advancing structural understanding of a district-scale system.

To support its development strategy, LVG has secured a gold prepay agreement with Monetary Metals tied to up to 7,000 ounces of future output, alongside a recent C$3.52 million equity investment from Taifa Group —part of a three-tranche investment set to total C$11.52 million . With field activity ramping up at both projects and financing structures in place, LVG continues to execute on a phased growth model in one of Africa's most prospective gold belts.

CONTINUED… Read this and more news for Lake Victoria Gold at:
https://equity-insider.com/2025/04/14/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/

In other industry developments and happenings in the market include:

ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF) has secured $3.3 million in financing to support its transition into near-term gold production at the fully permitted Montauban Project in Quebec . The private placement drew continued support from key insiders and new participation from New York–based hedge funds and family offices.

"This financing marks a critical milestone for ESGold ," said Paul Mastantuono , CEO of ESGold . "With construction now underway, we are entering the final stages before initiating production. Together with our partners, we are building ESGold into Canada's next producing mining company."

With construction underway, the company expects to enter final-stage development in the months ahead.

Freegold Ventures Limited (TSX: FVL,OTC:FGOVF) (OTCQX: FGOVF) recently achieved gold recoveries over 90% using BIOX®, POX, and Albion Process™ methods as part of its ongoing metallurgical program at the Golden Summit Project in Alaska . These findings are being integrated into a new pre-feasibility study aimed at boosting recoveries beyond the 72% benchmark from the 2024 resource model.

The company is also advancing a 30,000-meter drill program designed to upgrade resources and support engineering work. A revised mineral resource estimate is expected in the near term.

Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) has intersected multiple new shear-hosted gold zones as part of its 20,000-meter drill program at the Moss Gold Project in Ontario . Highlights include 17.7 meters of 1.52 g/t Au and 6.85 meters of 3.01 g/t Au from the Superion zone, extending mineralization west of the QES zone.

"We believe the definition of these new mineralized zones clearly demonstrates the emerging nature of the deposit as we continue to expand mineralization," said Michael Henrichsen , CEO of Goldshore . "In addition, the higher-than-average resource grades that have been encountered thus far on the northern side of the pit are very encouraging and will be a focus for additional drilling in the future, as we look to define a near surface high-grade zone that could be accretive to the economic performance of the deposit."

The company views these discoveries as potentially accretive to the economics of its existing conceptual pit model.

LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) is advancing toward restarting operations at its fully permitted 750 tpd Beacon Gold Mill in Val-d'Or , Québec, following over C$20 million in prior refurbishments.

"We are grateful to have acquired the fully permitted and refurbished Beacon Gold Mill, which received over C$20 million in upgrades by its previous operator and is located in the midst of numerous gold deposits in the historic Val-d'Or and Rouyn-Noranda mining districts, including our own Swanson Gold Deposit," said Paul Ténière, CEO of LaFleur Minerals . "With gold prices at record highs this is a pivotal year for LaFleur Minerals as we focus on restarting gold production at the Beacon Gold Mill and diamond drilling at the Swanson Gold Project to increase mineral resources."

The company is also preparing a 5,000-metre drill program and up to 100,000-tonne bulk sample at its district-scale Swanson Gold Project, which hosts over 185,000 ounces of Indicated and Inferred gold resources. A PEA is underway to evaluate a near-term mining and milling scenario at record gold prices.

Article Source: https://equity-insider.com/2025/04/14/with-funding-commitments-in-place-a-gold-mine-is-being-built-and-this-stock-is-still-under-0-20/

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