FVL.TO · 2017-06-13 12:00:00

Freegold Intersects 39 metres grading 0.72 g/t Au in Oxide Expansion Drilling at Golden Summit Project

Drill Results Marketing Announcement

174253.v1 1

For Immediate Release www.freegoldventures.com

Freegold Intersects 39 metres grading 0.72 g/t Au in Oxide Expansion Drilling

at Golden Summit Project

June 13th, 2017 (Vancouver, BC) – Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N) (“ Freegold) is

pleased to announce assays from the first 11 holes of the oxide expansion drill program at Golden

Summit. Golden Summit is located 30 minutes drive via paved highway from Fairbanks, Alaska.

Since drilling commenced on May 15 th, 25 holes have been drilled in an area to the north of the current

resource area. Using results of the previously completed RAB (Rotary Air Blast) drilling, ground resistivity

and soil geochemistry, a series of vertical holes, spaced roughly 50 metres apart in an east -west-north-

south grid pattern were drilled . (See attached map). Drilled to an average depth of 70 metres , the hole

pattern was designed to determine if the current oxide resource could be expande d to the north as well

as to establish boundaries to the current oxide resource.

Assays from the first 11 holes are below.

Hole

Total

Depth

(m)

From

(m)

Interval

(m) Au g/t Oxide

Thickness (m)

Oxide Grade

Au g/t

GSDL 17-01 62 2.38 62 59.6 0.21 44.6 0.26

GSDL 17-02 62 3 62 59 0.2 45.5 0.23

GSDL 17-03 71 0 71 71 0.19 54.5 0.16

GSDL 17-04 67.5 0 67.5 67.5 0.41 54.4 0.32

GSDL 17-05 71 3 71 68 0.16 50 0.13

GSDL 17-06 71 4.5 71 66.5 0.40 56.5 0.36

GSDL 17-07 71.7 7 71.7 64.7 0.29 45.5 0.35

GSDL 17-08 72 2 72 70 0.16 40 0.17

GSDL 17-09 72 1.5 72 70.5 0.26 41.3 0.32

GSDL 17-10 70.5 1.5 70.5 69 0.44 39 0.72

GSDL 17-11 70.5 2 70.5 68.5 0.45 56.5 0.51

Width refers to drill hole intercepts, true widths cannot be determined due to uncertain geomet ry of mineralization.

Results continue to demonstrate the potential for expansion of the current oxide res ource at Golden

Summit with majority of the holes returning average grades above the internal cut -off us ed in the

Preliminary Economic Assessment completed in January 2016. Additional assay results will be reported

as they become available.

174253.v1 2

Additional metallurgical work to refine the treatment method for the sulphide material remains

ongoing.

Drill cores were logged, photographed and placed in sea led bags for geochemical analysis. Core samples

were picked up at the logging facility by ALS Chemex and transported to their facility in Fairbanks,

Alaska. ALS Chemex was used to analyze core samples via fire assay analysis for gold plus multi element

ICP-AES and ICP-MS analysis using 4 acid -digestion. Quality control entailed insertion of blanks and

standards into the sample stream, at the rate of approximately one QA/QC sample every tenth assay.

Reported standard and blank assay values were within an acceptable margin of error.

The Qualified Person for this release is Alvin Jackson, P.Geo – Vice President Exploration and

Development for the Company who has reviewed and approved the scientific and technical information

contained in this press release.

For further information:

Kristina Walcott-President and CEO

Telephone: 1.604.662.7307

[email protected]

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 and the success of exploration progr ams. 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 speculati ve geologically to have economic

considerations applied to them. 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 fact ors, 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 th e year ended December 31st, 2016 filed

under Freegold's profile at www.sedar.com for a detailed discussion of the risk factors associated with

Freegold's operations.

(meters)

NAD27 / UTM zone 6N

FREEGOLD VENTURES LIMITED

GOLDEN SUMMIT PROJECT

2017 Proposed and

Final Hole Locations

June 2017 Peter E. Walcott & Associates Limited

Holes Reported

Holes Drilled to Date

Proposed Holes

Pre 2017 Drilling

478800

478900

479000

479100

479200

479300

479400

479500

478800

478900

479000

479100

479200

479300

479400

479500

CHD9701

CHD9702

CHM9603

CHM9604

CHM9605

GSCL1208

GSCL1209

GSCL1210

GSCL1211

GSCL1212

GSCL1213

GSCL1214

GSCL1215

GSCL1216

GSCL1217

GSCL1218

GSCL1219

GSCL1220

GSDC0824

GSDC0825

GSDC0826

GSDC1132

GSDC1134

GSDC1136

GSDC1137

GSDC1138

GSDC1139

GSDC1140

GSDC1141

GSDC1142

GSDC1143

GSDC1145

GSDC1146

GSDC1152

GSDC1153

GSDC1154

GSDC1155

GSDL1201

GSDL1202

GSDL1203

GSDL1204

GSDL1205

GSDL1206

GSDL1207

GSDL1208

GSDL1209

GSDL1210

GSDL1211

GSDL1212

GSDL1213

GSDL1214

GSDL1215

GSDL1216

GSDL1217

GSDL1220

GSDL1224

GSDL1225

GSDL1226

GSDL1301

GSDL1302

GSDL1307

GSDL1308

GSDL1309

GSDL1310

GSDL1311

GSDL1312

GSDL1313

TLD0401

TLD0402

TLD0403

TLD0405

TLD9801

TLR9501

TLR9502

TLR9503

TLR9504

TLR9505

TLR9506

TLR9507

TLR9508

TLR9509

TLR9510

TLR9511

TLR9512

TLR9513

TLR9514

TLR9515

TLR9602

TLR9603

TLR9604

TLR9605

TLR9610

TLR9615

TLR9616

TLR9617

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