Freegold Demonstrates Robust Mineral Resource Estimate at Golden Summit Using $1,650 Au 11.9 Moz indicated & 7.5 Moz inferred in Primary Resource

Freegold Ventures Limited ("Freegold" or the "Company") (TSX: FVL) (OTCQX: FGOVF) wishes to provide additional clarity on the Mineral Resource Estimate (the "Updated Mineral Resource Estimate" or "Updated MRE") for its Golden Summit project located near Fairbanks, Alaska .

An updated MRE was published Feb 22 ^nd with additional work continuing after the Feb 22 ^nd release to determine the sensitivities to lower gold prices than the $1792 /oz used for the pit shell. These continued to find the resource to be notably robust, even at significantly lower gold prices. An error was noted in the table at the 0.75 g/t cut off in the indicated category of the " Pit Constrained Primary Resource Table ". The Company asked Tetra Tech Canada to correct this number which had accidentally included the Inferred category, meaning that the Inferred was double counted. This reduces the primary indicated ounces to 7.7 Moz from 12.1 Moz at 0.75 gp/t cut off in the indicated category. This does not impact the MRE as the base case reported was at a 0.45 g/t cut off.

In addition Freegold is pleased to provide further clarification on the MRE in particular;

Effect of gold price on the MRE;
Grade capping of the high-grade;
Sections within the block model

The following table provides a pit constrained resource for the primary resource at both the $1,792 (the three-year trailing gold price average used in the February 22, 2023 MRE) and a comparison at a $1,650 gold price using the same 0.45 g/t gold cut off. The size of the resource at the stated cut-off of 0.45 g/t gold for the primary MRE is impressively resilient to a change in gold price as evidenced in the table below.

Golden Summit Pit-Constrained Primary Au g/t - 0.45 cut off
$1,792
	Category	Tonnes	Au_gpt	Au Ounces
	Indicated	407,544,000	0.92	12,011,000
	Inferred	282,303,000	0.85	7,736,000
$1,650
	Indicated	405,528,000	0.92	11,960,000
	Inferred	272,805,000	0.85	7,458,000

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 pit generated by Tetra Tech extends to a depth of 800 metres, with the bulk of the higher-grade mineralization lying between 100 to 700 metres in depth. Although the presence of high grade has been noted during the 2020 – 2022 drill programs, what is apparent is that the overall higher-grade trend closely correlates to Freegold's interpretation. GSDL2001 (announced in news release May 6th, 2020 ) initially tested this interpretation and successfully encountered a broad intercept of higher-grade mineralization within a broad silicified zone.

The 2020 – 2022 program defined a corridor or higher-grade mineralization between Dolphin and Cleary. Veins in Cleary are typically narrow, high-grade and discontinuous. These high-grade veins are surrounded by a lower grade envelope. As the mineralization plunges towards the Dolphin intrusive the narrow high-grade veins persist however the mineralized envelope surrounding the narrow high-grade veins increases both in grade and width, making an ideal bulk tonnage target.

The 2020 – 2022 drilling resulted in a substantial increase in the overall resource quality and quantity at the Golden Summit Project. Golden Summit takes its place as one of the largest undeveloped gold resources in North America with less than a $4.00 oz discovery cost. Freegold continues to explore Golden Summit as a large bulk tonnage gold resource that contains high grade zones, similar to Kinross's operating Fort Knox Mine. Fort Knox is a large low grade open pit operation which has produced over 8 million ounces over 25+ year mine life. Structurally controlled northeast striking high grade veins increase the overall low-grade resource at the mine.

Given the small percentage of very high grade that has been encountered and following a significant amount of statistical analysis, the range of the high grade was limited to a 20-metre search radius based on statistics and variograms done by the independent resource estimator. A 30 g/t cap was applied to assay composites beyond the 20-metre search radius. Only a small percentage of samples were affected, which had the potential to influence the overall grade disproportionately. Capping affected approximately 0.07% of the population (31 sample composites). A total of 72,196 assays were incorporated. As a matter of course additional infill drilling will be done to ensure the continuity of the high grade estimated to further define and refine the higher grade.

Sections 478850E, 479350E and 479500E with the various blocks and pit outlines at gold prices of $1,792 , $1,650 and $1,500 are included for reference as well as drill plan map.

https://freegoldventures.com/site/assets/files/6146/drill_plan_map_03022023.pdf
https://freegoldventures.com/site/assets/files/6146/478850e.pdf
https://freegoldventures.com/site/assets/files/6146/479350e.pdf
https://freegoldventures.com/site/assets/files/6146/479500e.pdf

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 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 three drill holes GS2239, GGS40 and GS2012 were not included). GS2239 and GS2240 were not complete at the resource cut-off ( February 6 ^th , 2023.

The Dolphin-Cleary is the only area of the project to have a resource delineated, and represents only a small portion of the overall land package.

The Updated Mineral Resource Estimate is divided into three parts: Pit-Constrained Oxide, Pit-Constrained Primary, and Under Pit and is shown below at $1,650 for reference in the following tables:

Golden Summit Pit-Constrained Oxide US$1,650 Pitshell
Cutoff	Category	Tonnes	Au_gpt	Au Ounces
Au g/t
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 US$1,650 Pitshell
Cutoff	Category	Tonnes	Au_gpt	Au Ounces
Au g/t
1.00	indicated	95,154,000	1.81	5,537,000
1.00	inferred	47,653,000	1.83	2,808,000
0.75	indicated	171,076,000	1.39	7,629,000
0.75	inferred	101,356,000	1.32	4,292,000
0.50	indicated	347,969,000	0.99	11,082,000
0.50	inferred	231,446,000	0.92	6,827,000
0.45	indicated	405,528,000	0.92	11,960,000
0.45	inferred	272,805,000	0.85	7,458,000
0.30	indicated	642,983,000	0.72	14,785,000
0.30	inferred	431,800,000	0.67	9,356,000
0.25	indicated	737,407,000	0.66	15,619,000
0.25	inferred	497,972,000	0.62	9,943,000
0.15	indicated	910,024,000	0.57	16,741,000
0.15	inferred	630,320,000	0.53	10,791,000
0.10	indicated	971,929,000	0.54	16,992,000
0.10	inferred	694,961,000	0.49	11,052,000

Golden Summit Under Pitshell Primary US$1,650 Pitshell
Cutoff	Category	Tonnes	Au_gpt	Au Ounces
Au g/t
1.00	indicated	1,054,000	1.98	67,000
1.00	inferred	9,749,000	1.65	518,000
0.75	indicated	2,129,000	1.41	96,000
0.75	inferred	19,752,000	1.25	791,000
0.50	indicated	6,499,000	0.86	180,000
0.50	inferred	57,411,000	0.82	1,517,000
0.45	indicated	7,914,000	0.79	202,000
0.45	inferred	70,074,000	0.76	1,710,000
0.30	indicated	15,301,000	0.59	289,000
0.30	inferred	115,529,000	0.61	2,258,000
0.25	indicated	20,082,000	0.51	331,000
0.25	inferred	136,166,000	0.56	2,439,000
0.15	indicated	34,004,000	0.38	419,000
0.15	inferred	190,912,000	0.45	2,783,000
0.10	indicated	44,963,000	0.32	462,000
0.10	inferred	237,659,000	0.39	2,968,000

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.

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

Summary:

The mineral resource remains robust at $1,650 / oz gold price;
Significant expansion with higher grade that the previous 2016 MRE
MRE will form the basis for Freegold's upcoming PEA - scheduled to be completed later in 2023
Expansion potential exists in the Dolphin Cleary Area where drilling over the last two years has identified higher grades zone, and
New targets have been identified in Saddle Zone 4km to the east where historic mining focused on high grade veins

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 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/March2023/02/c7036.html

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FVL:CA

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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