Freegold Intersects Higher-Grade in Both Cleary and WOW Zones in Drilling at Golden Summit

Freegold Intersects Higher-Grade in Both Cleary and WOW Zones in Drilling at Golden Summit

WOW ZONE GS2440

    • 2.07 g/t Au over 54.9m
    • 128.3 g/t Au over 3.1m
    • 4.16 g/t Au over 21.6m
  • CLEARY ZONE – GS2441
    • 2.74/t over 30.3m
    • 11.6 g/t Au over 33.6m including 110 g/t Au over 3.1m
    • 1.73 g/t over 25m

2025 PROGRAM

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

  • Drilling to Commence Mid-May
    Conversion of Inferred
    Resources into Indicated &
    Exploration Drilling
  • Updated Mineral Resource
  • Ongoing Metallurgical Work
  • Commencement of PFS

VANCOUVER, BC , April 23, 2025 /CNW/ - Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company") is pleased to announce the latest drill results from its 2024 drilling program. Final assay results for eight drill holes are still pending and are expected to be reported in the coming weeks. An updated mineral resource estimate, which will include the 2024 results, is scheduled for completion by end of Q2 – 2025. Additionally, further geological modelling has been conducted during the winter break and will be incorporated into the updated mineral resource estimate.

Drilling at Golden Summit is set to resume in mid-May, marking the start of an extensive 2025 drilling program. This program will commence with two drill rigs and increase to four rigs by early summer, with a total of approximately 30,000 meters planned. All four rigs are currently on site. The program aims to be comprehensive, focusing on converting inferred mineral resources into the indicated category and drilling additional metallurgical holes in preparation for a planned Pre-Feasibility Study (PFS).

The September 2024 mineral resource estimate ( US$1,973 gold – three-year trailing price average   ) was based on a processing flowsheet that involves grinding, gravity separation, flotation, and regrinding of a sulfide concentrate, followed by Carbon -in-Leach (CIL) treatment. The estimated 72% gold recovery and $14 per tonne operating cost did not include further processing of the sulfides. The current metallurgical program is focused on identifying effective sulfide oxidation methods to enhance gold recovery and revenue. This ongoing testing includes BIOX ® , POX, and additional Albion Process™ oxidation prior to CIL, providing a basis for trade-off studies aimed at maximizing recoveries while minimizing capex and opex in preparation for the PFS. Hydrological studies, baseline work, and archaeological and cultural work are also being conducted. 2025 is expected to be pivotal, with a goal of commencing a PFS by year-end.

CLEARY ZONE

The 2024 drilling program included four large-diameter holes for metallurgical test work. Hole GS2421, located in the Cleary Zone, filled in a 200m gap and was one of the most continuous higher-grade intercepts observed in the eastern section of the resource area, returning 115.5 meters at 1.17 g/t Au, starting at 197.5 meters and 3.62 g/t Au over 42 meters from 361 metres . (NR 11072024). Due to this success, three follow-up holes were drilled later in the season within the Cleary Zone: GS2438 and GS2441 and GS434.

Hole GS2438, located 50m due east of GS2421, intersected several zones with grades exceeding 1.0 g/t, including 1.12 g/t Au over 24.4m starting at 69.2m , 1.14 g/t Au over 32.6m starting at 233.8m , and 1.22 g/t Au over 15.2m starting at 310m . All these results lie within a consistently broad mineralized envelope, which has not been typically observed at Cleary.

Hole GS2441, located 60m south of GS2438, returned multiple intercepts exceeding resource grade. Notable higher-grade intercepts include: 3.3 g/t Au over 9.1m from 50m ; 2.7 g/t Au over 30.3m from 221.6m ; and 11.6 g/t Au over 33.6m from 300m , including a significant intercept of 110 g/t Au over 3.1m . and additionally 1.78 g/t Au over 25m , from 355.1m . Further drilling in this area is scheduled for 2025.

Assays for GS2434 drilled 70m southwest of GS2421 are pending.

CLEARY ZONE

Hole

Depth

Dip

Azimuth

From

To

Interval

Au

Au

Number

(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


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

WOW ZONE

The 2024 drilling program also focused on the WOW Zone, exploring the potential for further resource expansion to the west and conducting limited infill drilling. The drilling results from the WOW Zone are particularly significant, indicating a continuation of higher-grade mineralization to the west.

Hole GS2439 intercepted broad zones of higher-than-resource-grade mineralization, including 1.28 g/t Au over 27m from 441m . Hole GS2440, a vertical hole in the WOW Zone, is aligned with the southwesterly geochemical trend. It intersected mineralization that not only exceeded resource grade but also demonstrated significant mineralization at depth, including 2.07 g/t over 54.9m from 342.6m and 4.16 g/t Au over 21.3m from 438m , as well as a high-grade intercept of 128 g/t Au over 3.1m at 415.4m .

WOW ZONE

Hole

Depth

Dip

Azimuth

From

To

Interval

Au

Number

(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

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

The current results indicate an opportunity to improve the resource grade and upgrade resource categories through additional infill drilling. This strategy aligns with our commitment to maximizing the project's value prior to completing any economic assessments.

Links to Plan Map and Section 479550E:

https://freegoldventures.com/site/assets/files/6287/20250422_plan_map.pdf

https://freegoldventures.com/site/assets/files/6287/20250422_479550e_section.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.

A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw, and one-half placed in sealed bags for preparation and subsequent geochemical analysis by MSA Laboratories. At MSALABS, the entire sample was dried and crushed to 70% passing -2mm (CRU-CPA). A ~500g riffle split was analyzed for gold using CHRYSOS PhotonAssay™ (CPA-Au1). From this, 250g was further riffle split from the original PhotonAssay™ sample, pulverized, and a 0.25g sub-sample was analyzed for multi-element geochemistry using MSA's IMS230 package, which includes 4-acid digestion and ICP-MS finish. MSALABS operates under ISO/IEC 17025 and ISO 9001 certified quality systems. 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.

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

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Developing highly prospective gold and copper projects in Alaska

Freegold Provides Update on 2025 Drill Program

Freegold Provides Update on 2025 Drill Program

2025 PROGRAM

  • Drilling is now underway with three rigs

    Conversion of inferred resources into indicated & further exploration drilling.

  • Updated mineral resource end of Q2

  • 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).

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company ") is pleased to announce that three drill rigs are now operational at Golden Summit. One rig is situated in the WOW Zone (Holes GS2502, GS2505), another is operating in the Cleary Zone (Holes GS2501, GS2503), and a third is in the Dolphin Zone (GS2504). A fourth rig is anticipated to begin in early summer.

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    • 43.8 g/t Au over 3.0m

GS2435

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GS2431

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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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Pinnacle Silver and Gold Corp.

VANCOUVER, BRITISH COLUMBIA TheNewswire - June 2, 2025 (TSXV: PINN, OTC: NRGOF, Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to announce that systematic sampling of the historic underground workings at the Pinos Cuates Mine on the El Potrero property in Durango, Mexico (see Figure 1) has resulted in the definition of a lens of high-grade gold and silver mineralization, with individual samples returning up to 37.3 gt gold (Au) and 346 gt silver (Ag).

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VANCOUVER, BC , May 30, 2025 /CNW/ - 1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB) (OTCQB: AUMBF) (FRA: 2KY) announces the temporary suspension of operations at its True North complex in Bissett, Manitoba , following the evacuation order issued by the Province of Manitoba due to escalating wildfire activity in the region.

1911 Gold - Logo (CNW Group/1911 Gold Corporation)

The Company has safely evacuated all personnel from the site and is closely monitoring the situation in coordination with local and provincial authorities. The Company has taken precautionary measures to safeguard certain site infrastructure and continues to assist with the wildfire response by hosting frontline personnel at the True North camp facilities.

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About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .

1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE 1911 Gold Corporation

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