Freegold Reports Final 2024 Drilling Results from Golden Summit Continuing to Confirm Higher Grade Potential

WOW ZONE – GS2437
- 6.84 g/t Au over 20.6 m including 115.5 g/t over 0.8m
- 43.8 g/t Au over 3.0m

GS2435

- 1.01 g/t over 216 m
- 20.4 g/t over 1.3 m

GS2431

- 1.73 g/t over 111 m

DOLPHIN ZONE - GS2432
- 1.17 g/t Au over 253.3m
CLEARY ZONE – GS2434
- 1.84/t over 61m
- 1.6 g/t over 18.7m

2025 PROGRAM

Drilling is now underway.

Conversion of inferred resources into
indicated & exploration drilling.

Updated mineral resource.
Ongoing metallurgical work.
Commencement of PFS.

VANCOUVER, BC , May 8, 2025 /CNW/ - Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company") is pleased to announce the final drill results from its 2024 drill program. These results underscore the significant potential within Freegold's project area, particularly in the Dolphin and Cleary Zones. The impressive grades and extended intercepts highlight the robustness of the mineralization and provide further confidence. Freegold is committed to advancing its geological understanding and refining its resource estimates, ultimately enhancing the project's value. An updated mineral resource estimate, incorporating the 2024 results, is scheduled for completion by the end of the second quarter 2025.

Drilling at Golden Summit is now underway. The aim is to convert inferred mineral resources into the indicated category, and additional exploration drilling will also be conducted. This comprehensive 2025 drill program will also include additional drilling of metallurgical holes in preparation for a planned Pre-Feasibility Study (PFS).

Alongside the ongoing drill program, metallurgical work is advancing. Several rounds of testing are expected to be completed over the coming months. 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 before CIL. The results will provide a foundation for trade-off studies to maximise recoveries while minimizing capital and operational expenditures in preparation for the PFS.

CLEARY ZONE

The 2024 drill program included four large-diameter holes for metallurgical test work. Hole GS2421, located in the Cleary Zone, filled a 200m gap and exhibited one of the most continuous higher-grade intercepts observed in the eastern section of the resource area. It returned 115.5m at 1.17 g/t Au, starting at a depth of 197.5m , and 3.62 g/t Au over 42m from a depth of 361m (NR 11072024). Due to this success, three follow-up holes were drilled later in the season within the Cleary Zone: GS2438, GS2441 (NR04232025), and GS2434. All these holes intercepted broader zones of higher-grade material, which are not typically seen at Cleary. Drilling is underway in the Cleary Zone, further targeting these higher-grade zones.

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

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

DOLPHIN ZONE

In 2024, infill drilling was conducted within the Dolphin Zone. Holes GS2432 and GS2436 targeted the southern portion of the Dolphin Zone. Hole GS2432 returned a significant intercept of 0.9 g/t Au over 428.5m , including a notable 6.82 g/t over 18.2m starting from 486.5m , further confirming the continuity of mineralization. Hole GS2436 indicates the potential for mineralization to extend to depth.

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

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

WOW ZONE

The 2024 drill program concentrated on the WOW Zone, aiming to explore the potential for resource expansion to the west while conducting limited infill drilling. Ongoing drilling in the WOW Zone has uncovered an extension of higher-grade mineralization to the west and returned multiple higher-grade zones with a notable increase in the presence of visible gold. The 2025 drilling in the WOW Zone is now in progress, targeting this higher-grade extension and conducting infill drilling to improve resource classifications.

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

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

The current results demonstrate the potential for infill drilling to enhance the resource grade and upgrade resource categories. This strategy aligns with our commitment to maximizing the project's value before completing any economic assessments. With drilling now underway, Freegold is looking forward to an exciting field season.

Links to the Plan Map and Section

https://freegoldventures.com/site/assets/files/6287/plan_map_05082024.png
https://freegoldventures.com/site/assets/files/6287/newsrelease_section_478600e.pdf

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 ALS Laboratories. Core samples were prepared in ALS's facility using the PREP-31BY package. 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, using method code Au-AA23 (30g sample size) and over 10 g/t, which are automatically assayed using an 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 fine fraction, and an assay is conducted 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.

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.

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, 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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precious metals investing fvl:ca freegold ventures tsx:fvl

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

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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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Results of the Company's Annual General Meeting 2025

Following the Annual General Meeting (" AGM ") held at 9:00am (Mountain Daylight Time) on Tuesday 27 May 2025, AngloGold Ashanti plc (the " Company " or " AngloGold Ashanti ") announces the results of the poll vote for each resolution set out in the notice of AGM published on 7 April 2025 (the " Notice of AGM "). The full text of the resolutions proposed at the AGM is included in the Notice of AGM.

All of the resolutions were passed as ordinary resolutions. A copy of the poll results for the AGM, along with the Notice of AGM, is available on the AngloGold Ashanti website at www.anglogoldashanti.com .

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Cartier Resources Inc. Announces AGM Election Results

Cartier Resources Inc. (TSX-V: ECR) (" Cartier " or the " Company ") announces that at its annual general meeting of shareholders held on May 27, 2025, the following individuals were elected as directors of Cartier:

Name	Votes for	% For
Myrzah Tavares Bello	52,547,290	98.17
Philippe Cloutier	53,412,290	99.79
Mario Jacob	53,412,290	99.79
Alain Laplante	53,388,268	99.74
Daniel Massé	53,412,290	99.79
Manuel Peiffer	53,388,268	99.74

The stock option plan of the Company (the " Plan ") as described in the Management Information Circular dated April 24, 2025 (the " Circular ") was approved by the shareholders at the meeting. The maximum number of shares issuable under the Plan is to represent a maximum of 10% of the shares issued and outstanding from time to time (on a non-diluted basis). For further information, the Circular is available for consultation on SEDAR+.

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Resolution		Votes For ¹	%	Votes Against	%	Votes Withheld/ Abstentions ²	Broker Non-Votes
1.	To receive the 2024 Annual Report and Accounts	388,317,432	99.98	80,648	0.02	255,571	0
2.	To approve the Directors' Remuneration Report	355,110,031	91.39	33,437,495	8.61	106,125	0
3.	To elect Mr. Bruce Cleaver as a director	388,268,247	99.94	235,208	0.06	150,196	0
4.	To elect Ms. Nicky Newton-King as a director	388,090,981	99.89	408,069	0.11	154,601	0
5.	To re-elect Dr. Kojo Busia as a director	388,234,636	99.93	256,401	0.07	162,614	0
6.	To re-elect Mr. Alberto Calderon as a director	388,427,842	99.98	77,945	0.02	147,864	0
7.	To re-elect Ms. Gillian Doran as a director	358,833,245	92.36	29,676,623	7.64	143,783	0
8.	To re-elect Mr. Alan Ferguson as a director	388,097,054	99.90	407,518	0.10	149,079	0
9.	To re-elect Mr. Albert Garner as a director	318,651,096	82.02	69,851,494	17.98	151,061	0
10.	To re-elect Ms. Jinhee Magie as a director	388,434,916	99.98	74,636	0.02	144,099	0
11.	To re-elect Ms. Diana Sands as a director	388,238,666	99.93	269,238	0.07	145,747	0
12.	To re-elect Mr. Jochen Tilk as a director	387,430,478	99.73	1,057,229	0.27	165,944	0
13.	To re-appoint PricewaterhouseCoopers LLP as statutory auditors of the Company	388,460,144	99.98	60,728	0.02	132,779	0
14.	To authorise the Audit and Risk Committee of the Company to determine the remuneration of the Company's statutory auditors	388,412,689	99.96	172,678	0.04	68,284	0
15.	To ratify the appointment of PricewaterhouseCoopers Inc. as independent registered public accountants of the Company	388,467,934	99.97	127,236	0.03	58,481	0
16.	To authorise the Company to make political donations up to an aggregate limit of £100,000	262,796,980	67.63	125,761,730	32.37	94,941	0

Sample No	From	To	Interval	Photon Assay Au (g/t)
CU02010	64	65	1	1.03
CU02011	65	66	1
CU02012	66	67	1	2.85
CU02013	67	68	1	0.42
CU02014	68	69	1	0.31
CU02016	69	70	1	1.55
CU02017	70	71	1	3.59
CU02018	71	72	1	26.9
CU02019	72	73	1	1.31
CU02020	73	74	1	0.03
CU02022	74	75	1	0.58
CU02023	75	76	1	0.72
CU02024	76	77	1	3.88
CU02025	77	78	1	0.88

Drill hole	Easting (NZTM)	Northing (NZTM)	Elevation (RL)	End depth	Azimuth	Dip
CUDDH001	1508685	5327989	618	89.9	92	-46
CUDDH002	1508685	5327989	618	104.8	92	-69
CUDDH003	1508685	5327990	618	157.8	40	-57
CUDDH004	1508685	5327989	618	194.5	92	-78
CUDDH005	1508685	5327987	618	133.7	135	-45

Lode	Tonnes	Production (Au oz)	Recovered grade (oz/t)	Recovered grade (g/t)
Scotia	604	1,283	2.1	66.1
Gallant	2,378	759	0.3	9.9
Sir Francis Drake-Happy Valley	17,261	5,810	0.3	10.5
Cumberland	14,120	13,629	1.0	30.0
Exchange-Industry	519	260	0.5	15.6

Drill hole	Easting (NZTM)	Northing (NZTM)	Elevation (RL)	End depth	Azimuth	Dip
GAL001	1508726	5327981	628	123.7	293°	-70°

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

1.		Votes ‘for' include those votes giving the Chair discretion.
2.		For all relevant purposes votes which are "withheld" or "abstained" are not votes in law and are not counted in the calculation of the proportion of votes for and against each resolution.

Freegold Reports Final 2024 Drilling Results from Golden Summit Continuing to Confirm Higher Grade Potential

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Shorty Creek

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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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