Freegold Commences Exploration at Shorty Creek
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For Immediate Release www.freegoldventures.com
Freegold Commences Exploration at Shorty Creek
August 24th, 2018 (Vancouver, BC) – . Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N) (“ Freegold) is pleased to
announce that a limited drill program has commenced at its Shorty Creek Project, (“Shorty Creek”), located
approximately 125 kilometres by paved road north west of Fa irbanks, Alaska. A metallurgical program is currently
underway with results expected shortly.
Freegold’s first diamond drill program in 2015 discovered si gnificant copper–gold mineralization after stepping out
and extending the previous shallow reverse circulation dr illing completed by Asarco in 1989-1990. Hole SC 15-03
intersected 91 metres grading 0.55% Cu, 0.14 g/t Au an d 7.02 g/t Ag. Both the 2016 and 2017 programs successfully
extended the copper mineralization intercepted in the 2015 program and confirmed the presence of a sizeable
target at Hill 1835 containing copper, gold, silver cobalt and tungsten mineralization.
Since our initial discovery hole was announced, Freegold ha s completed approximately 4,500 metres of drilling at Hill
1835. Drilling at Hill 1835 has been largely focussed within the magnetic anomaly, which covers a 700 metre by 1,000
metre area. Porphyry style mineralization is associated with potassic and pervasive sericite alteration, within
hornfelsed sedimentary rocks that are cut by porphyritic dykes and sills. The copper mineralization is primarily
chalcopyrite with subordinate bornite.
Our deepest hole SC 16-01 hole averaged 0.36% Cu, 0.12 g/t Au, 7.46 g/t Ag, and 141 ppm Co over 434.5 metres,
including 45 metres grading 0.57% Cu 0.38 g/t Au, and 9.9 g/t Ag and 303 ppm cobalt.
The 2017 program consisted of several step out holes buil ding on the success of the 2015 and 2016 programs.. Holes
SC 17-01 and SC 17-02 were vertical step out holes located 100 and 200 metres SW of the 2016 drilling and
intercepted copper, gold and silver with tungsten and cobalt mineralization over significant widths. SC 17-02
intersected 339 metres grading 0.30% Cu, 0.05 g/t Au, 5.72 g/t Ag, 85 ppm Co and averaged 0.06% W03.
Hill 1835 is only one of the several magnetic highs identified within the Shorty Creek property. Geophysics and surface
geochemical sampling has indicated that the Shorty Creek property has the potential to host several copper
porphyries in addition to the Hill 1835 target throughout its 100 square kilometer area.
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Freegold has not as yet collected sufficient data to determine how the downhole drill intervals might relate to the actual true thickness of
mineralization.
Drill core was cut in half using a diamond saw, with one-half placed in sealed bags for geochemical analysis. Core
samples were delivered to ALS Chemex at its facility in Fairbanks, Alaska. Quality control/quality assurance program
including the insertion and monitoring of appropriate refer ence material (certified standards, blanks and duplicates)
to validate the accuracy and precision of the assay results was implemented. The Qualified Person for technical
information disclosed in this release is Alvin Jackson, P.Geo – Vice President Exploration and Development for the
Company who is a “Qualified Person” as defined under National Instrument 43-101.
For further information:
Kristina Walcott-President and CEO
Telephone: 1.604.662.7307
Without limitation, statements regarding potential mineralizati on and resources, exploration results, and future plans and
objectives of the Company are forward look ing statements that involve various risks. Actual results could differ materially
from those projected as a result of the following factors, am ong others: changes in the price of mineral market conditions,
risks inherent in mineral exploration, risks associated with de velopment, 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, 2017 file d under Freegold's profile at www.sedar.com for a detailed discussion of the risk factors
associated with Freegold's operations . Readers are cautioned not to place undue reliance on forward-looking
statements. Except as required by law, Freegold expressly disc laims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events, or otherwise.