FREEGOLD ANNOUNCES CLOSING OF $42 MILLION BROKERED PRIVATE PLACEMENT FINANCING

FREEGOLD ANNOUNCES CLOSING OF $42 MILLION BROKERED PRIVATE PLACEMENT FINANCING

Freegold Ventures Limited (TSX: FVL) (" Freegold " or the " Company "), is pleased to announce that further to its news release of March 18, 2025 the Company has closed its upsized brokered private placement offering for aggregate gross proceeds of $41,975,805 which includes the exercise in full of the agent's option for additional gross proceeds of $5,475,105 . Paradigm Capital acted as sole agent (the " Agent ") on the Offering.

Freegold Ventures Limited logo (CNW Group/Freegold Ventures Limited)

In connection with the Offering, the Company entered into an agency agreement (the " Agency Agreement ") dated April 3, 2025 , between the Company and the Agent. In accordance with the Agency Agreement, 49,383,300 units of the Company (the " Units ") were issued at a price of $0.85 per Unit. Each Unit is comprised of one common share of the Company (a " Unit Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "). Each Warrant is exercisable to acquire one common share of the Company (a " Warrant Share ") for 24 months from today's date at an exercise price of $1.30 per Warrant Share. The Warrants are callable by the Company should the daily volume-weighted average trading price of the common shares of the Company on the Toronto Stock Exchange exceed $1.30 for a period of twenty (20) consecutive trading days, at any time during the period (i) beginning on the date that is 6 months from the closing date of the Offering, and (ii) ending on the date the Warrants expire (the " Call Trigger "). Following a Call Trigger, the Company may give notice (the " Call Notice ") to the holders of the Warrants (by disseminating a news release announcing the acceleration) that any Warrant that remains unexercised by the holder thereof shall expire thirty days following the date on which the Call Notice is given.

The Company plans to use the net proceeds from the offering for general working capital and corporate purposes, with a primary focus on advancing the Golden Summit project. Drilling at Golden Summit is expected to resume next month, and an updated Mineral Resource Estimate is anticipated later in the second quarter, once the assays from the 2024 drill program have been finalized.

Mr. Eric Sprott , through an entity owned and controlled by him, purchased an aggregate of 14,814,900 Units in the Offering, representing 30% of the Units issued under the Offering.

Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), the purchase of Units by Mr. Sprott was a "related party transaction". The Company was exempt from the requirements to obtain a formal valuation in connection with the Offering in reliance on section 5.5(c) of MI 61-101, as the issuance of Units to Mr. Sprott was a distribution of securities of the Company to a related party for cash consideration. The issuance of the Units to Mr. Sprott was exempt from the requirement to obtain minority shareholder approval in reliance on section 5.7(1)(a) of MI 61-101 as neither the fair market value of the Units received by Mr. Sprott nor the proceeds for such securities received by the Company exceeded 25% of the Company's market capitalization as calculated in accordance with MI 61-101.

A material change report will be filed less than 21 days from the date of the closing of the Offering. Closing the Offering in this shorter period was reasonable in the circumstances as the Company determined the shorter period was necessary because the terms of the transaction were favorable to the Company, given uncertain market conditions time was of the essence in closing the Offering, and closing the Offering expeditiously was in the best interest of the Company and its shareholders.

The Offering is subject to the final approval of the Toronto Stock Exchange. All securities issued pursuant to the Offering will have a hold period of four months and one day.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any U.S. state security laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States , nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.

Forward-looking Information Cautionary Statement

This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release, include, without limitation, statements regarding the receipt of TSX final approval for the Offering and the use of proceeds from the Offering. In making the forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. See Freegold's Annual Information Form for the year ended December 31, 2024 , filed under Freegold's profile at www.sedarplus.ca , for a detailed discussion of the risk factors associated with Freegold's operations.

SOURCE Freegold Ventures Limited

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Developing highly prospective gold and copper projects in Alaska

FREEGOLD VENTURES LIMITED ANNOUNCES UPSIZE OF THE PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $36.5 MILLION

FREEGOLD VENTURES LIMITED ANNOUNCES UPSIZE OF THE PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $36.5 MILLION

/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA , ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA ./

Freegold Ventures Limited (TSX: FVL) (the " Company " or " Freegold Ventures "), is pleased to announce that in connection with its previously-announced best efforts private placement offering (the " Offering "), the Company and Paradigm Capital Inc. (the " Agent "), have agreed to increase the size of the Offering. The Company will now issue up to 42,492,000 units of the Company (the " Units ") at a price of $ 0.85 per Unit (the " Issue Price ") for total gross proceeds of up to $ 36,500,700 . Each Unit will be comprised of one common share of the Company (a " Unit Share ") and one half of one common share purchase warrant of the Company (each whole warrant, a " Warrant ").

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FREEGOLD VENTURES LIMITED. ANNOUNCES $30 MILLION BEST EFFORTS PRIVATE PLACEMENT FINANCING

FREEGOLD VENTURES LIMITED. ANNOUNCES $30 MILLION BEST EFFORTS PRIVATE PLACEMENT FINANCING

/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA , ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA ./

 Freegold Ventures Limited (TSX: FVL) (the " Company " or " Freegold Ventures "), is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. (the " Agent "), in connection with a proposed best efforts private placement financing (the " Offering ") for total proceeds of up to approximately $ 30 million consisting of up to 32,295,000 units of the Company (the " Units ") at a price of $ 0.85 per Unit. Each Unit will be comprised of one common share of the Company (a " Unit Share ") and one half of one common share purchase warrant of the Company (each whole warrant, a " Warrant ").

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Freegold Achieves Over 93% Recovery Using Albion Process oxidation-CIL Additional Metallurgical Work Remains Ongoing

Freegold Achieves Over 93% Recovery Using Albion Process oxidation-CIL Additional Metallurgical Work Remains Ongoing

  • Total gold recovery of over 93% from a composite comprised of core from 8 drill holes representing the Dolphin/Cleary resource area.
  • The flowsheet consists of gravity – flotation - concentrate cleaning - Albion Process™ oxidation - CIL (carbon-in-leach).
  • A sulfide concentrate representing approximately 3% of the process plant feed has been treated using standard Albion™ Process testing procedures appropriate for the current stage of the Golden Summit Project development, resulting in a downstream CIL stage extraction of over 97%.
  • The exceptional CIL stage extraction of gold has been achieved with less than 75% sulfur oxidation.
  • Further optimization of this flowsheet and testing of other oxidation processes are ongoing.

Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to announce additional results based on the ongoing metallurgical test work on drill hole composites from the 2020 2022 drill programs. The objectives of the recently completed testwork were:

Freegold Ventures Limited logo (CNW Group/Freegold Ventures Limited)

  • Advancement of understanding of gold deportment and recovery methods from previously released metallurgical test work results
  • Optimization of gold recovery and flowsheet make-up considering the minimization of both future capital and operating cost intensity with the benefit of significant additional and overall gold recovery

Eight drill core composites, representing different locations and grades within the Dolphin and Cleary areas, were created using continuous drill intervals chosen to reflect potential mill feed. (Refer to the map below for hole locations.) The selections of drill holes and intervals included the three primary gold-hosting lithologies. The results indicate that a gold recovery rate of 93% can be achieved using standard and commercially employed mineral processing operations. The composites were prepared from laboratory assay rejects of fresh rock intervals located well below the existing oxide cap at Golden Summit. Eight drill hole composites were utilized, comprising 1,192 meters of drill intercepts that represent 587 continuous mineralized intervals with a total material weight of over 5,100 kilograms.

Composite DDH Make Up

GS2201

GS2203

GS2206

GS2207


GS2208

GS2209

GS2168

GS2167

Test Calc Grade


gold recovery %


Au g/t

Gravity

Flotation

Post Oxidation Stage
CIL

Total






1.15

40 %

55 %

97 %

>93%

Summary of Gold Recovery

Since 2020, drilling activities at the Golden Summit project have significantly bolstered its potential, reinforcing the project's viability through positive metallurgical outcomes and a marked increase in overall resources. The current pit-constrained resource includes both oxide and primary resources, with the oxide component located within the upper 70 meters. Previous column tests on the oxide material indicate that heap leach gold recoveries can reach 85% within two weeks. Ongoing optimization efforts are focused on delineating the most effective flow sheet for the sulphide component before initiating a pre-feasibility study.

The strategic plan for 2025 outlines extensive drilling initiatives aimed at upgrading resources from the inferred category to the indicated category, which is crucial for completing the planned pre-feasibility study. The September 2024 Primary Resource, using a 0.5 g/t cut-off, is 346,304,000 tonnes at 1.08 g/t Au (12,050,000 contained ounces) in the indicated mineral resource category and 308,311,000 tonnes at 1.04 g/t Au (10,306,000 contained ounces) in the inferred mineral resource category.

In 2024, 41 holes, totaling 25,708m , were drilled. Assay results from twelve drill holes related to the 2024 program are pending. Results from the 2024 program will be incorporated into an updated mineral resource estimate expected to be released later in 2025.

Ongoing Metallurgical Work: The primary areas of focus in the next phase of metallurgical test work are in progress and include:

  • Comminution studies using half PQ core
  • Flotation concentrate oxidation pre-treatment utilizing BIOX® and POX prior to CIL

Link to Map Showing Location of Metallurgical Composite Holes and 2024 Drilling

https://freegoldventures.com/site/assets/files/6287/metdrillingplanmap_february2025.pdf

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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Freegold Intersects 2.72 g/t Au over 139.9 metres at Golden Summit

Freegold Intersects 2.72 g/t Au over 139.9 metres at Golden Summit

GS2425 Significant Mineralization to Depth West of Willow

  • 2.72 g/t Au over 139.9 metres from 401.4 metres
  • Including 3 metres of 44.7 g/t Au and 2.7 metres grading 59.5 g/t Au

GS2426 – Higher grade within the south-southwest trend

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Freegold Extends Mineralization to the West and SouthWest Intersecting 1.88 g/t Au over 54.2 metres and 1.58 g/t Au over 60 metres at Golden Summit

Freegold Extends Mineralization to the West and SouthWest Intersecting 1.88 g/t Au over 54.2 metres and 1.58 g/t Au over 60 metres at Golden Summit

GS2422 Higher grade at depth and to the west

  • 157 g/t Au over 3 metres from 299 metres
  • 1.88 g/t Au over 54.2 metres starting at 499.8 metres
  • 1.58 g/t Au over 60 metres from 743 metres

GS2417 – Higher grade within the south-southwest trend

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Opawica Explorations Inc Announces the Closing of Non-Brokered Private Placement

Opawica Explorations Inc Announces the Closing of Non-Brokered Private Placement

(TheNewswire)

Opawica Explorations Inc.

April 3rd, 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce that it has closed the  the recently announced oversubscribed private placement (announced March 15, 2025) of 1,385,000 Units to for total aggregate proceeds of CAD $277,000 each consisting of one Common Share of the Company and one Common Share Purchase Warrant at a price of $0.20c per Unit.

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RUA GOLD Begins Drilling at Cumberland Target in the Reefton Goldfield, Following up on a 20.7m Intercept of 62g/t  Gold

RUA GOLD Begins Drilling at Cumberland Target in the Reefton Goldfield, Following up on a 20.7m Intercept of 62g/t Gold

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to advise the commencement of drilling at the Cumberland gold camp drill target. This builds upon the integration of the VRIFY AI targeting and ranking process with RUA's extensive geological database, as well as the consolidation of the Reefton Goldfield - an orogenic gold and antimony belt on the South Island of New Zealand.

Highlights:

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Radisson Expands Area of High-Grade Gold Mineralization Beneath the Historic O'Brien Gold Mine with Three New Drill Holes Including 29.93 g/t Gold over 2.2 Metres

Radisson Expands Area of High-Grade Gold Mineralization Beneath the Historic O'Brien Gold Mine with Three New Drill Holes Including 29.93 g/t Gold over 2.2 Metres

Radisson Mining Resources Inc. (TSXV: RDS) (OTCQB: RMRDF) ("Radisson" or the "Company") is pleased to announce drill assay results from three new drill holes at its 100%-owned O'Brien Gold Project ("O'Brien" or the "Project") located in the Abitibi region of Québec.

The three holes reported are all wedges completed from the previously reported pilot hole OB-24-337 (see Radisson News Release dated December 16, 2024; Figure 1). OB-24-337 was the deepest hole ever drilled at the Project and the first hole drilled directly below the historic O'Brien Mine workings. It intersected 242.0 grams per tonne ("g/t") gold ("Au") over 1.0 metre within a mineralized interval that averaged 31.24 g/t Au over 8.0 metres at approximately 1,500 metres vertical depth. Now, three new wedges have all returned additional high-grade gold intercepts, delineating a large zone of multiple veins with good continuity.

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Cartier Resources Announces Subscription Agreement for Flow-Through Units Under Its Previously Announced Brokered Offering and Adjustments Further to Tax Measures Unveiled by the Quebec Minister of Finance

Cartier Resources Announces Subscription Agreement for Flow-Through Units Under Its Previously Announced Brokered Offering and Adjustments Further to Tax Measures Unveiled by the Quebec Minister of Finance

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES.

Cartier Resources Inc. (TSX-V: ECR) (" Cartier " or the " Corporation ") announces the execution, on March 31, 2025, of an amending agreement (the " Amending Agreement ") further to the engagement letter dated March 20, 2025 between Paradigm Capital Inc. (the " Agent ") and the Corporation (the " Engagement Letter ") with respect to its previously announced "best efforts" private placement offering of securities of Cartier (the " Offering ").

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