1818 platinum triangle

Freegold Provides Year-End Update

  • 70% of Holes still to be reported – 48 holes
  • Visible gold noted in several holes
  • Over 38,000 meters of drilling at Golden Summit
  • Updated Mineral Resource to be completed in 2022
  • 3,400 meters of drilling completed at Shorty Creek

Freegold Ventures Limited (Freegold) (TSX: FVL) (OTCQX: FGOVF) is pleased to provide a summary of its 2021 activities. This year was a continuation of a program that began in 2020 looking for deeper, higher-grade mineralization. It has been a very successful program. The program has already intercepted more extensive and consistent higher-grade mineralization than any previous drill program on the project including numerous assays intervals over 30 gt Au. Golden Summit's mineralization is structurally complex, still making it challenging to connect the high-grade intersections into cohesive units, however, they will substantially boost the average grade for a bulk mineable project, well above our historic 0.69 gpT resource grade average. Freegold and most North American explorers experienced frustratingly long delays at the assay labs. Mineralization at Golden Summit is not necessarily visually obvious however with an over 90% hit rate in holes reported we are very pleased with our targeting efforts which continue to confirm our interpretation. Looking forward, with more than 70% of the drill holes from the 2021 program still to be reported and the already demonstrated success of the 2021 program, Management believes 2022 will be an exciting year for Freegold.

Over 38,000 metres of drilling were completed in 68 holes with an average hole depth of over 600 metres. Assays are pending for 48 holes. Drilling for the year just concluded and is expected to resume in early February. Drilling will continue to focus on further expanding and defining the higher-grade Cleary Vein System (CVS). Cutting and sampling will continue over the winter break to expedite results as quickly as possible.

Drill results are continuing to return multiple intercepts of higher-grade mineralization within the projected extension of the CVS. The CVS is an interpreted corridor extending south from the old Cleary Hill mine workings towards the Dolphin intrusive and consists of broad zones of intense silicification and alteration that contain narrow high-grade veins, multiple veins, veinlets, and stockwork zones. The identification of the CVS in 2020 had significant implications for both the grade and tonnage potential of the project.

In the Cleary Zone, results are pending for 25 holes. These holes were targeting the down dip extent of the high-grade vein zones found within the historic Cleary, Colorado , Wackwitz, and Wyoming veins as well their broader enveloping stockwork zones. Holes south of the previous drilling have intersected significant veining, quartz breccia and visible gold in areas with no previous drilling. Oriented core is being used to better define the orientation of the high-grade encountered throughout 2021. Results from the Cleary zone drilling continue to show that the higher-grade zone in the Cleary widens and plunges at depth toward the Dolphin intrusive.

Notably this year, Freegold reported its highest grade intercepts from any of its drilling at Golden Summit - 588 g/t over 1.7 meters in GS2017 and 609 g/t over 1.1 metres in hole GS2121. The high grade intersected within GS2017 was within a broader zone of 3.07 g/t Au over 98.2 metres from 300.5 to 398.7 metres (588 g/t Au intercept cut to 88 g/t Au) - (11.72g/t Au over 98.2 metres uncut). Four step out holes were drilled to follow up on the high grade encountered in GS2017. Holes were drilled 25 metres to the north (GS2121), south (GS2126), west (GS2123), and east (GS2118) of the high-grade intercepts on Cleary.

Hole GS2121 (north) intersected a broader zone of 1.94 g/t over 86.4 metres from 308 - 394.4 metres (including 1.1 metres of 609 g/t Au cut to 88 g/t Au ) - (8.57 g/t Au over 86.4 metres uncut). Hole GS2126 (south) intersected 12.9 g/t over 3 metres from 107- 110m . Hole GS2118 (east) intersected multiple narrower zones of higher-grade mineralization. Assays for GS2123, which was drilled to the west, remain pending.

ClearyArea










Zone

Hole
Number

Hole Depth
(m)

Dip

Azimuth

From
(m)

To
(m)

Interval
(m)

Au
g/t

Uncut
Au g/t

Cleary

GS2118

552.4

-70

360

36.9

38

1.1

14.95

14.95

east of 2017





230

248

18

2.81

2.81






304.5

323

18.5

5.54

5.54


Including




311.5

313

1.5

27.3

27.3


Including




320

323

3

17.25

17.25






345.5

347

1.5

11.05

11.05






354

422

68

0.83

0.83

CLEARY

GS2121

543.3

-70

360

39.1

40.3

1.2

33.7

33.7

north of 2017





270.2

437

166.8

1.55*

4.98


Including




270.2

270.5

1.3

34.5

34.5


Including




308

394.4

86.4

1.94*

8.57


Including




393.3

394.4

1.1

609*

609*

CLEARY

GS2126

498.4

-70

360

94.3

130.4

36.1

1.61

1.61

south of 2017

Including




107

110

3

12.9

12.9






293.2

472.3

179.1

0.75

0.75


Including




293.2

306.1

12.9

2.5

2.5


Including




383.2

472.3

89.1

0.87

0.87


Including




414.1

461

46.9

1.29

1.29











The width refers to drill hole intercepts; actual width cannot be determined due to the uncertain geometry of mineralization . * Assay was cut to 88 g/t for the purpose of calculating a weighted average. Freegold has elected to cut the drill intercept based on drilling results and statistical analysis conducted in conjunction with the previous resource estimate. The uncut grade is shown for informational purposes.

Drilling also continued to the east. HoleGS2130 intersected high-grade intervals from 108.2 – 109.9 metres – 1.7 metres grading 18.1 g/t and another intercept from 305.4 to 306.6 metres grading 98.3 g/t Au and 36.7 g/t Au over 0.3 metres from 455 to 455.3 metres. Results are pending for holes further to the east and south.

GS2127, drilled to the north, was the furthest south of the reported holes in the Cleary area, intersected two intervals of greater than 30 g/t Au, the first 2.2 metre interval grading 30.39 g/t Au (from 155.3 to 157.5m ) and the second a 3-metre interval grading 36.8 g/t Au (from 232.4–235.4m). These intercepts may correlate with the historic Wyoming and Wackwitz veins at depth.

DOLPHIN/TOLOVANA VEIN ZONE

In the Dolphin Zone, several high-grade intercepts were reported, mainly in areas with previously limited deeper drilling. Hole GS2108, GS2122, and GS2129 were drilled towards the western side of the Dolphin intrusive near the historic Tolovana vein zone. Visible gold was noted in hole GS2122 within narrow veins less than 20 centimetres in width. Metallic screen analyses were performed on those intervals. A total of five samples were selected for metallic screen based on the presence of visible gold, which resulted in an average increase of grade of 111%. Several high-grade intercepts were noted within this hole. Visible gold has been noted in several other holes drilled in the vicinity of the Tolovana vein zone, and assays remain outstanding for these holes. Metallic screens are routinely conducted on intervals where visible gold is seen.

Hole GS2122 intersected 111.2 metres grading 2.94 g/t Au from 444.1 to 555.3 metres including multiple intercepts over 15 g/t Au within a broader intercept of 495.8 metres grading 1.17 g/t Au. Hole GS2129 returned 82.3 metres grading 1.85 g/t Au again demonstrating the potential for significant resource expansion with the higher-grade intercepts lying outside the boundaries of the previous resource estimate. GS2132 and GS2141 were drilled at an azimuth of 315 degrees and intended to intersect the Tolovana Vein system at depth. GS2119 was drilled to the north. Assays for Holes GS2119, GS2132, and GS2141 are pending.

Hole


Hole Depth

Dip

Azimuth

From (m)

To (m)

Interval

Au g/t

Uncut
Au
g/t

GS2122


555.3

–70

360

59.5

555.3

495.8

1.17

1.17


including




59.5

63.1

3.6

26.2

26.2


including




311.9

555.3

243.4

1.63

1.63


including




444.1

555.3

111.2

2.94

2.94


including




499

502

3

35.2

35.2


including




526.4

529.4

3

19.95

19.95


including




544.7

547.7

3

20.8

20.8

GS2129





462.4

544.7

82.3

1.85

1.85


including





465.4

468.5

3.1

16.3


including





541.6

544.7

3.1

12.5











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

The 2021 exploration program was designed to test for higher grade potential and to upgrade a portion of the mineral resource from the inferred to the indicated category, a necessary step in advancing the project through pre-feasibility. Results from the Dolphin drilling continue to demonstrate the potential for higher-grade mineralization over significant widths. Assays remain pending for several holes drilled within the footwall of the Dolphin intrusive where drilling has returned intercepts of 1.44 g/t Au over 198.1 metres from 419.7 to 617.8m , including 33.5 metres grading 2.54 g/t Au and 3.1 metres grading 25.3 g/t Au (605.6 – 608.7m ) in GS2125 within the schist of the footwall of the Dolphin intrusive. The presence of significant mineralization in the schist of the footwall of the Dolphin intrusive at depth is continuing to confirm our interpretation of the CVS as a broader zone of consistently higher grade mineralization that plunges towards the Dolphin intrusive.

Results are pending for 23 holes in the Dolphin area.

Property Acquisitions

In addition to its drilling program, Freegold also completed the purchase of 10 patented claims, further solidifying its land position within the project area and is currently finalizing a mineral lease with the Alaska Mental Health Authority for an additional 1,818 acres immediately north of the project. Cultural resources and water sampling programs are also ongoing.

2022 Plans

Numerous high-grade intercepts have been reported within the broad zones of mineralization. Mineralization at Golden Summit occurs in three main forms, a) intrusive hosted quartz-sulfide stockwork veinlets (such as the Dolphin), b) auriferous quartz-sulfide veins (historic underground mines), and c) shear-hosted gold-bearing veinlets. All three types are part of a large-scale intrusive-related gold system on the property with the Dolphin intrusive as the apparent source of the mineralization. The 2022 program will include further infill drilling to delineate the area to the south of the Cleary Vein Swarm and the area between the Dolphin and the Cleary where previous high-grade intercepts were reported. In addition, drill testing will also be undertaken on other areas of the project that have the potential to host additional mineralization.

The 2020-2021 drilling results will be incorporated into an updated mineral resource estimate later in 2022.

Drill cores are logged, photographed, and cut in half using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analyses by ALS Global Ltd and Bureau Veritas, with sample preparation carried out in Fairbanks with subsequent studies performed primarily using their Vancouver , Reno and Hermosillo, Mexico facilities. Freegold will continue to report assays as they are finalized. A sample quality control/quality assurance program is in place. Commercial assaying remains extremely slow because of COVID. Freegold and other explorers worldwide are continuing to experience significant delay.

Drill Plan Map

https://freegoldventures.com/site/assets/files/2194/2021_drill_plan_map_nr_121621.pdf

Freegold will continue to operate a full-service camp at Golden Summit with stringent COVID–19 protocols in place.

SHORTY CREEK

At Shorty Creek, eight holes were completed totalling~3,400 metres of drilling. Assay results are pending and will be reported once received and compiled. South32 fully funded the US$2.5 million program with Freegold acting as operator.

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

About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration in Alaska . It holds through leases the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood, where a ~3,400-meter program was completed this summer. Assays are pending.

Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. 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,e and the success of exploration programs. The term "Mineral Resource" used above is defined per NI 43-101. Though Indicated Resources have been estimated for the Project, this PEA includes Inferred Mineral Resources that are too speculative for use in defining Reserves. Standalone economics have not been undertaken for the measured and indicated resources, and as such, no reserves have been estimated for the Project. Please note that the PEA is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would allow them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the price of mineral market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital. See Freegold's Annual Information Form for the year ended December 31st, 2020 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. Many governments have likewise declared that the COVID-19outbreak in their jurisdictions constitutes an emergency. Reactions to the spread of COVID-19 have led to, among other things, significant restrictions on travel, business closures, quarantines and a general reduction in economic activity. While these effects are expected to be temporary, the duration of the business disruptions and related financial impact cannot be reasonably estimated at this time. Such public health 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. 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. As a result of the COVID-19 outbreak, the Freegold has implemented a significant COVID management program and established a full service Camp at Golden Summit in order to attempt to mitigate risks to its employees, contractors and community. While the extent to which COVID-19 may impact the Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect    on Freegold's business, results of operations and financial condition.

SOURCE Freegold Ventures Limited

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Freegold Intersects 3.62 g/t Au over 42 metres and 1.23 g/t Au over 170.7 metres at Golden Summit

Freegold Intersects 3.62 g/t Au over 42 metres and 1.23 g/t Au over 170.7 metres at Golden Summit

GS2421 Higher grade continuity intersecting one of highest and broadest intercepts in the eastern section of the resource.

  • 115.5 metres at 1.17 g/t Au starting at 197.5 metres
  • 42 metres at 3.62 g/t Au from 361 metres

GS2418 - A significant broad zone of mineralization, including multiple higher-than-resource grade intercepts, underscores the potential of the Main Dolphin Zone .

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Freegold Intersects 3.06 g/t Au over 42 Metres at Golden Summit and 1.36 g/t Au over 115.2 metres

Freegold Intersects 3.06 g/t Au over 42 Metres at Golden Summit and 1.36 g/t Au over 115.2 metres

FVL:TSX  OTCQX: FGOVF

GS2406 & GS2407: - higher grade closer to surface

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Freegold Expands and Upgrades Resource at Golden Summit

Freegold Expands and Upgrades Resource at Golden Summit

  • Base case resource ounces and grades have increased materially from our February 2023 estimates
  • Indicated Primary Mineral Resource: 12.1 million ounces at 1.08 g/t Au, up 8% and 9% respectively
  • Inferred Primary Mineral Resource: 10.3 million ounces at 1.04 g/t Au, up 45% and 13%, respectively
  • Primary Resource reported above a 0.50 g/t Au cut-off grade
  • In addition, a significant oxide resource exists – 0.9Moz at 0.49 g/t Au (indicated), up 43% and 23%
  • Soil geochem and historical hard rock mines strongly suggest that Dolphin-Cleary mineralization remains open to the west and southwest another 1.5 km. The current resource footprint is 1.5 km east-west.
  • Dolphin/Cleary is just one of the target areas within the 13km long, road-accessible project.
  • The 2024 drill program at Golden Summit is ongoing with two drills operating – additional assay results pending

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company") is pleased to announce an updated mineral resource estimate for the Golden Summit Project. The revised estimate incorporates data from the 2023 drilling program and the initial two holes of the 2024 program, representing a significant milestone in our exploration and development activities.

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

CutOff Au g/t

Classification

Au g/t

Tonnes

Ounces

OXIDE





0.15

Indicated

0.49

59,414,000

937,000

0.15

Inferred

0.45

3,252,000

47,000

PRIMARY





0.5

Indicated

1.08

346,304,000

12,050,000

0.5

Inferred

1.04

308,311,000

10,306,000

UNDER PIT





0.75

Indicated

1.29

2,867,000

119,000

0.75

Inferred

1.34

22,900,000

986,000

Mineral Resources   for the primary resources   are reported at a cut-off grade of 0.   5   0 g/t gold and constrained within an open pit shell   using a  gold price of US$1,   973   /ounce, US$2.50/t mining cost, US$   14   /t processing cost, US$2.00/t G+A,   72   % gold recover   y   , and   a   45° pit slope.   Tonnes and ounces rounded to the nearest thousand.

Comparison Sept 2024 and Feb 2023 Resource Estimates


Indicated Primary Resource - Open Pit


Inferred Primary Resource - Open Pit


Oxide Indicated



Moz

gpT

Cutoff Grd



Moz

gpT

Cutoff Grd



Moz

gpT

Cutoff Grd

Feb-23

11.1

0.99

0.5



7.1

0.92

0.5



0.7

0.39

0.15

Sep-24

12.1

1.08

0.5



10.3

1.04

0.5



0.9

0.49

0.15

Change

8 %

9 %




45 %

13 %




43 %

26 %


The updated resource is the result of primarily infill drilling, upgrading areas considered waste in the February 2023 drill program due to lack of drill density. Ounces and grades increased materially in all categories considered within an open pit context. It is expected that further infill drilling may also positively impact stripping ratios when a mine plan is optimized. Freegold's 2024 drill program is focusing on the west and southwest of the existing resource where soil geochemistry, found to be a strong indicator, and historic gold mines have outlined two logical corridors that extend approximately 1.5 km; in context, Golden Summit's current resource occupies a 1.5 km east-west footprint.

The current estimate is based on a gold price of $1,973 , which reflects the three-year trailing average. Even though the 2024 resource estimate uses a higher gold price than the $1,792 in 2023, this is balanced by a lower recovery rate (72% vs. 90%). Previously, the 2023 resource plan considered using CIL (carbon-in-leach) and oxidation to process the sulphide flotation concentrate for higher recoveries. However, positive test results released earlier this year indicate that a significant portion of the mineralization is non-refractory and can be processed using much less costly gravity and CIL. Although the recovery is projected to be lower, the overall operating and capital cost savings would more than compensate and simplify the project substantially. The 72% recovery used for the resource is believed to be conservative. The reported test work showed recovery rates of up to 87.5%, with an average recovery of 77% using gravity and CIL, based on 5,100 kg of material and eight composites. Furthermore, initial indications are that mineralization to the west, where our 2024 drill program is concentrated, achieves higher recoveries. Additional optimization work and metallurgical samples from four large-diameter drill holes completed will be used for further metallurgical testwork.

The latest resource estimate shows an increase in the resource size and a notable improvement in grade. The discovery cost remains exceptionally low at under $4.00 per ounce. Golden Summit has a substantial resource and presents an excellent development opportunity due to its proximity to robust infrastructure - road accessibility, proximity to a supply centre, and available labour force, all of which are expected to contribute to lower operating costs.

Additional drilling will focus on improving the ore quality and outlining a smaller, higher-grade starter pit within the deposit as the project moves towards pre-feasibility to reduce operating and initial capital costs. The updated resource's results demonstrated this approach's success with its increase in overall resource grades at the various cut-offs. Trade-off studies will be conducted to optimize the overall economics and balance improved recovery rates with capital and operating costs as the project progresses. Additional metallurgical work is also in progress, and four large diameter (PQ) boreholes have been drilled this year. These will undergo a comprehensive suite of metallurgical tests to assess various processing methods to improve recoveries and further reduce the project's risks.

Since 2020, Freegold has completed over 123,000 meters of drilling and established Golden Summit as one of North America's largest undeveloped gold resources.

The 2023 drill program at Golden Summit discovered higher-grade mineralization on the western side of the existing resource. In 2024, the plan is to continue drilling on the portion west of the Dolphin/Cleary deposit and extend exploration drilling further to the west. The 2024 drilling program at the Golden Summit project is progressing well; additional assay results are expected to be reported shortly.

The table below displays the specific cut-off grades within and below the current $1,973 pit.

CutOff Au g/t

Classification

Au g/t

Tonnes

Ounces

OXIDE





1.00

Indicated

1.73

4,745,000

265,000

1.00

Inferred

1.77

127,000

7,000

0.75

Indicated

1.35

8,430,000

366,000

0.75

Inferred

1.17

359,000

14,000

0.50

Indicated

0.97

17,324,000

541,000

0.50

Inferred

0.84

919,000

25,000

0.40

Indicated

0.81

24,758,000

647,000

0.40

Inferred

0.72

1,322,000

31,000

0.15

Indicated

0.49

59,414,000

937,000

0.15

Inferred

0.45

3,252,000

47,000

PRIMARY





1.00

Indicated

2.07

99,704,000

6,628,000

1.00

Inferred

2.01

82,640,000

5,352,000

0.75

Indicated

1.55

174,604,000

8,694,000

0.75

Inferred

1.49

151,918,000

7,271,000

0.50

Indicated

1.08

346,304,000

12,050,000

0.50

Inferred

1.04

308,311,000

10,306,000

0.40

Indicated

0.92

461,582,000

13,711,000

0.40

Inferred

0.88

426,343,000

12,003,000

0.15

Indicated

0.66

778,574,000

16,609,000

0.15

Inferred

0.62

752,540,000

14,960,000

UNDER PIT





1.00

Indicated

1.89

1,193,000

73,000

1.00

Inferred

1.82

11,605,000

677,000

0.75

Indicated

1.29

2,867,000

119,000

0.75

Inferred

1.34

22,900,000

986,000

0.50

Indicated

0.84

7,958,000

216,000

0.50

Inferred

0.87

61,179,000

1,720,000

0.40

Indicated

0.66

14,765,000

313,000

0.40

Inferred

0.71

100,288,000

2,282,000

0.15

Indicated

0.35

64,264,000

720,000

0.15

Inferred

0.41

290,423,000

3,826,000

Mineral Resources   for the primary resources   are reported at a cut-off grade of 0.   5   0 g/t gold and constrained within an open pit shell   using a   gold price of US$1,   973   /ounce, US$2.50/t mining cost, US$   14   /t processing cost, US$2.00/t G+A,   72   % gold recover   y   , and   a   45° pit slope.   Tonnes and ounces rounded to the nearest thousand.

The mineral resource estimate (MRE) was carried out using ordinary kriging of three-meter composites. The MRE was constrained by two lithological domains, Intrusive and Schist, that were further constrained by a 0.2 g/t gold gradeshell. Hard boundaries were used for the Intrusive and Schist domains so that only composites from each domain were used for the estimation of block grades within that domain. An Oxide domain was flagged within the upper portion of the Schist domain after the estimation process. Composite grades in the Intrusive domain were capped at 20 g/t gold and those within the Schist domain were capped at 90 g/t. Cumulative frequency curves were used to determine capping levels. The estimate was carried out in a single pass with a minimum of four and a maximum of 12 composites, with a maximum of two per drill hole, required for a grade to be interpolated into a block. Blocks were classified as Indicated or Inferred. Indicated blocks are based on a minimum of eight and a maximum of 12 composites within 100 meters of a block. Inferred blocks are based on a minimum of four and a maximum of 12 composites within 300 meters of a block. A maximum of two composites per drill hole was permitted in both categories.

In addition to the ongoing drill program, metallurgical, baseline environmental, cultural resource, and wetland studies are underway.

A plan map showing the locations of the 2024 drill holes - exploration and metallurgical holes can be found here:

https://freegoldventures.com/site/assets/files/6287/goldensummit_dolphin-cleary_resource_drilling_western_a.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, with 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, 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 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.

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.

Qualified Person and Technical Information

The MRE, with an effective date of September 9, 2024 , 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 are 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 visited Golden Summit on November 11 – 12, 2022. Greg Mosher and Maurie Marks visited the project on September 12, 2023 .

The full technical report, which is being prepared in accordance with NI 43-101 by Tetra Tech Canada, will be available on SEDAR ( www.sedarplus.com ) under the Company's issuer profile within 45 days from this news release.

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. Through leases, it holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect   on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

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Freegold Intersects 4.63 g/t Au over 65.9 Metres at Golden Summit

Freegold Intersects 4.63 g/t Au over 65.9 Metres at Golden Summit

 Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to report initial results from the 2024 drill program. Thirteen holes have been completed, with two more in progress. The 2024 drill program is targeting the western extension as an area that holds significant promise for higher grades closer to surface and at depth.  The presence of this higher-grade material, along with promising ongoing metallurgical testwork, can potentially further enhance the overall project economics. The focus for 2024 will be on optimization, which will involve additional drilling, including drilling large-diameter holes (PQ) to facilitate additional metallurgical testwork.

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Eric Sprott Announces Changes to His Holdings in Freegold Ventures Limited

Eric Sprott Announces Changes to His Holdings in Freegold Ventures Limited

Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 770,000 common shares (Shares) of Freegold Ventures Limited., over the Toronto Stock Exchange (representing approximately 0.2% of the outstanding shares on non-diluted basis) at an average price of approximately $0.53 per share for aggregate consideration of approximately $408,100.

The acquired Shares were purchased in reliance on the normal course purchase exemption from the formal take-over bid requirements set out in Section 4.1 of National Instrument 62-104 - Take-Over Bids and Issuer Bids (NI 62-104). Such Shares do not represent more than 5% of the outstanding Shares, and the aggregate number of Shares acquired in reliance on this exemption with any joint actors within the last 12 months does not exceed 5% of the Shares outstanding at the beginning of the 12-month period. The Shares trade on the Toronto Stock Exchange and the value of the consideration paid for

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Top 5 Canadian Mining Stocks This Week: Orosur Surges 78 Percent on Anzá Acquisition

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE starting with a round-up of Canadian and US news impacting the resource sector.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) increased 1.85 percent on the week to close at 614.26 on Friday (November 29). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was up 0.75 percent to 25,648.00 and the CSE Composite Index (CSE:CSECOMP) rose 2.49 percent to 141.47.

Statistics Canada released its third-quarter gross domestic product (GDP) data on Friday (November 29). The numbers show a small increase in real GDP of 0.3 percent during the three months ending in September.

On the surface, the increase seems positive, but examining the numbers reveals some cause for concern: per capita GDP actually shrank by 0.4 percent, the sixth consecutive quarterly decline. Additionally, real GDP growth was down from the 0.5 percent increase recorded in the prior two quarters of 2024.

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5 Best-performing Junior Gold Stocks on the TSXV in 2024

Gold prices in 2024 have gained close to 30 percent since the beginning of the year, making it one of the best-performing assets for investors.

Several factors contributed to gold’s momentum, including increased central bank gold purchases, interest rate cuts by the US Federal Reserve in September and November and geopolitical tensions that sent investors to the safety of the precious metal.

What does this mean for junior gold companies? Although there has been some lag in translating higher prices into share price gains, several companies have seen outsized increases in 2024. The five companies below are the best performers so far this year

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Red Mountain Mining

Antimony Project Acquired in Australia's Premier Province

Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to announce the receipt of a Notice of Proposed Grant of Exploration Licence (relating to ELA6810) from the NSW Department of Primary Industries. The project encompasses 391km2 of prospective ground within the Southern New England Orogen (SNEO) in northeastern New South Wales. The SNEO is recognised as Australia’s premier Antimony province (Figure 1). Antimony occurs in hydrothermal quartz veins, breccias and stockworks, often with associated gold and/or tungsten mineralisation.

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Barrick Employees Detained in Mali as Mining Sector Tensions Escalate

The ongoing disputes between the Malian government and international mining companies continue to intensify as Barrick Gold (NYSE:GOLD,TSX:ABX) recently confirmed four Malian employees from its Loulo-Gounkoto mining complex had been arrested.

Barrick reported on November 26 that the employees had again been detained and charged pending trial. The company stated it refutes the charges, and said it remains committed to engaging with the government to reach a resolution that ensures the long-term viability of its operations in Mali.

This marks the latest development in a series of confrontations centered around Mali's lucrative gold mining sector.

The new arrests come just weeks after Mali demanded US$162 million in back taxes from Resolute Mining (ASX:RSG,LSE:RSG) and detained its CEO, Terence Holohan, along with two senior executives, on November 8.

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Barrick Welcomes Ontario Superior Court's Dismissal of Litigation Concerning North Mara Gold Mine

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has welcomed the Ontario Superior Court's dismissal of claims brought by Tanzanian residents alleging human rights abuses by members of the Tanzanian Police Force in the vicinity of the company's North Mara gold mine.

The Court ruled that Ontario was not the appropriate forum to consider the claims.

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  Asara Resources Limited

Asara Recommences Exploration Activities at Kada

Asara Resources Limited (ASX: AS1; Asara or Company) is pleased to announce that it has recommenced exploration activities at its flagship asset, the Kada Gold Project in Guinea (Kada).

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