FREEGOLD INTERSECTS 72.3 M GRADING 2.3 G/T AU AT GOLDEN SUMMIT

Additional Highlights:

GS2309 - 28.9gt Au over 2.1m ( 431.9m 434m ) and 15.7 gt Au over 3.1 M ( 486.5m 489.6m ) within 0.75 gt Au over 497.1m ( 62.5m 559.6m ) GS2310 11.75 gt Au over 1.4 M at ( 221.3m 222.7m ) GS2311 25.7 gt Au over 1.0 M ( 476.7m 477.7m )

VANCOUVER, BC , Aug. 31, 2023 /CNW/ - Freegold Ventures Limited (TSX: FVL) (" Freegold " or the " Company "), is continuing its success on the Golden Summit Project as two drill rigs continue to operate. A total of 30 holes have been completed since March. The completed holes are mainly in the west north-west area of the Dolphin Zone, with a focus on expanding mineralization to the north and reducing the strip ratio. Freegold is testing further expansion potential to the west with one drill operating on the western extension. Currently, one rig is also testing the Saddle Zone which is located 4 km to the east of the Dolphin/Cleary Zone. Several reconnaissance holes will be drilled to assess the historic veins along with their coinciding gold geochemistry to determine their potential to host additional resources.

HOLE NUMBER	AZIMUTH	DIP	DEPTH	FROM (M)	TO (M)	INTERVAL (M)	AU G/T
GS2308	360	-70	543.7	344	359	15	1.64

GS2309	360	-70	703.8	62.5	559.6	497.1	0.75
	including			314.9	559.6	244.7	1.13
	including			431.9	559.6	127.7	1.7
	including			431.9	505.1	73.2	2.3
	including			431.9	434	2.1	28.9
	including			486.5	489.6	3.1	15.7

GS2310	360	-70	516.7	7.6	29	21.4	1.67
				221.3	222.7	1.4	11.75
				308.7	320	11.3	0.92

GS2311	360	-70	700.1	199	227.7	28.1	0.68
				249.9	377	127.1	0.67
	including			310.3	350.8	40.5	0.94
				429.2	448.9	19.7	0.83
				476.7	477.7	1	25.7

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization .

Drilling continues to expand upon the broad higher-grade zone found within the Cleary Hill Vein swarm ("CVS") which dips southward and plunges towards the Dolphin intrusive, and which results in a significant amount of higher-grade mineralization at depth. The goal of holes GS 2308 - GS 2311, located in the northern part of the Dolphin area, is to improve the strip ratio by identifying mineralization closer to the surface and defining even more high-grade mineralization. GS2309, was successful in demonstrating the potential for higher grade updip (towards the north) intersecting several high-grade intercepts within a broader interval.

An additional hole was drilled from the same pad as GS2309. Hole GS2314 was drilled to west and the results are pending. Furthermore, Freegold's previous westerly hole (GS2241 – which intersected 88.7m grading 1.43 g/t) combined with strong gold in soil geochemistry have acted as further evidence to support the idea that there remains significant expansion potential to the west.

Additional assays results are pending and will be reported once received. See plan map for hole locations.

https://freegoldventures.com/site/assets/files/6285/478800e_08302023.pdf

https://freegoldventures.com/site/assets/files/6285/goldensummit_plan_map_08302023.pdf

The current program is designed to test the boundaries, expand and infill the current mineral resource estimate ( February 2023 ) which using a 0.45 g/ t Au cut off and a $1,792 gold price is 12.01 million ounces at 0.92 g/t Au (407,544,000 tonnes) (indicated) and 7.7 million ounces at 0.85 g/t (282,303,000 tonnes) (inferred) in preparation for an anticipated Preliminary Economic Assessment early in 2024.

A sample quality control/quality assurance program was implemented. 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 Global Ltd., 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 facility. 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-AES (method code ME-ICP61). Fire Assay analyzes 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 is performed using ALS's Au- SCR24 method; select samples are dry-screened to 100 microns. A duplicate 50g fire assay is 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 are conducted in ALS's North Vancouver and Reno 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 operates a full-service camp at Golden Summit.

The Qualified Person for this release is Alvin Jackson , PGeo – Vice President of Exploration and Development for Freegold.

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.

For further information:

Kristina Walcott
President and CEO
Telephone: 1.604.662.7307
jkw@freegoldventures.com

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, 2022 , 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/August2023/31/c3921.html

News Provided by Canada Newswire via QuoteMedia

gold investing tsx:fvl fvl:ca Gold Investing

FVL:CA

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.

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

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/03/c3696.html

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CLEARY ZONE - Drilled 70m SW of GS2421
Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2434	550.8	-90	0	319.1	380.1	61	1.84
				410.2	428.9	18.7	1.6
				453	465.4	12.4	1.48

DOLPHIN ZONE
Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2432	788.2	-70	0	138	141.1	3.1	13.3
				188.1	616.6	428.5	0.9
incl				363.3	616.6	253.3	1.17
incl				363.3	407.8	44.5	1.32
incl				486.5	504.7	18.2	6.82
GS2436	652.9	-90	0	121	132.9	11.9	1.6
				256.9	275.2	18.3	0.99
				410.6	440.7	30.1	1.08
				508.1	646.8	138.7	0.9

WOW ZONE
Hole	Depth	Dip	Azimuth	From	To	Interval	Au	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t	Cut to 90g/t
GS2430	639.2	-90	0	121.9	123.7	1.8	23.1
				270.4	316.1	45.7	0.62
				434.9	461.5	26.6	0.66
				491	501.7	10.7	1.79
GS2431	623	-85	0	111.3	120.8	9.5	2.81
				209	238.1	29.1	1.08
				263	289.9	26.9	0.6
				323	350	27	1.94
				407	518	111	1.73
incl				407	439.8	32.8	2.95
incl				430.5	433.6	3.1	22.0
incl				497	518	21	3.49
incl				512	515	3	19.3
				548	561.1	13.1	0.78
GS2433	654	-90	0	482.2	508.8	26.6	0.82
				523.8	530.1	6.3	4.19
GS2435	653	-85	0	98	155	57	1.07
				196.5	215	18.5	1.17
				254	470	216	1.01
incl				254	317	63	1.43
				558.5	559.8	1.3	20.4

Hole	Depth	Dip	Azimuth	From	To	Interval	Au	Au
Number				(m)	(m)	(m)	g/t	Cut to 90g/t
GS2437	609	-85	0	69.8	102	32.2	0.85
				268.8	293.8	25	1.39
				326.6	344.4	17.8	1.37
				396	416.6	20.6	6.84	5.85
incl				398.6	399.4	0.8	115.5
				498	501	3	43.8

CLEARY ZONE
Hole	Depth	Dip	Azimuth	From	To	Interval	Au	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t	cut to 90 g/t
GS2438	427	-90	0	69.2	93.6	24.4	1.12
				233.8	266.4	32.6	1.14
				310	325.2	15.2	1.22
GS2441	536.8	-90	0	50.9	60	9.1	3.3
				221.6	251.9	30.3	2.74
				300.8	334.4	33.6	11.66	9.77
including				325.2	328.3	3.1	110.4
				355.1	380.1	25	1.73

WOW ZONE
Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2439	714.6	-90	0	441	468	27	1.28
				522	585	63	0.87
				654	684	30	0.72
GS2440	666.3	-90	0	219.8	271.3	51.5	0.79
				288.6	316.1	27.5	0.66
				342.6	397.5	54.9	2.07
				415.4	418.5	3.1	128.3
				438	459.3	21.3	4.16
including				441	444.1	3.1	21.5

(In dollars)	Three months ended March 31				Nine months ended March 31
	2025		2024		2025		2024
Revenues	–		–		–		255,000
Administration expenses	1,068,917		776,367		2,499,582		2,657,981
Care and maintenance	692,919		231,541		2,743,950		2,031,082
Exploration expenses	4,063,635		1,765,615		6,118,177		4,043,679
Settlement of litigation with Revenu Québec	–		–		(1,452,757	)	–
Deferred income and mining taxes	(1,100,000	)	–		(1,273,000	)	(170,712	)
Net loss and comprehensive loss	(5,466,608	)	(2,892,142	)	(9,756,976	)	(8,692,837	)
Net loss per share, basic and diluted	(0.01	)	(0.01	)	(0.01	)	(0.02	)

(In dollars)	March 31, 2025		June 30, 2024
Cash	937,733		757,753
Total assets	16,493,159		14,063,983
Non-current liabilities	12,908,748		12,261,315
Shareholders' equity	(3,447,876	)	(6,284,136	)
Working capital (non-IFRS measurement) *	(2,172,892	)	(4,947,411	)

Pascal Hamelin	Dany Cenac Robert, Investor Relations
President and Chief Executive Officer	Reseau ProMarket Inc.,
T : (819) 768-2857	T : (514) 722-2276, poste 456
Email : phamelin@abcourt.com	Email : dany.cenac-robert@reseaupromarket.com

FREEGOLD INTERSECTS 72.3 M GRADING 2.3 G/T AU AT GOLDEN SUMMIT

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Golden Summit

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Shorty Creek

Management Team

Ron Ewing - Director and Chairman

Kristina Walcott - President, Chief Executive Officer and Director

Alvin Jackson - Director and VP of Exploration and Development

David Knight - Director

Garnet Dawson - Director

Glen Dickson - Director

Reagan Glazier - Director

Maurice Tagami - Director

Vivienne Artz - Director

Gordon Steblin - Chief Financial Officer

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