Freegold Provides Results of the Annual General and Special Meeting
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FOR IMMEDIATE RELEASE
FREEGOLD PROVIDES RESULTS OF THE ANNUAL
GENERAL AND SPECIAL MEETING
VANCOUVER: September 1 5th, 2020 - Freegold Ventures Limited (“Freegold” or the “Company” ) (FVL:
TSX) is pleased to provide the results of the 2020 Annual General and Special Meeting of Shareholders held
on September 15, 2020 (the “Meeting”) and announces that all matters set out in the Management Information
Circular of the Company dated August 14, 2020 (the “Freegold Circular ”) were approved by the shareholders of
the Company. A total of 82,694,368 shares were voted at the Meeting representing approximately 31% of the
outstanding shares of the Company.
The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the
election of directors are set out below:
Nominee # of Votes For % of Votes For # of Votes Withheld % of Votes
Withheld
Ron Ewing 81,889,457 99.84 133,710 0.16
Kristina Walcott 81,675,837 99.58 347,330 0.42
Alvin Jackson 81,936,396 99.89 86,771 0.11
David Knight 81,885,896 99.83 137,271 0.17
Gary Moore 66,762,796 81.40 15,260,371 18.60
Garnet Dawson 66,751,607 81.38 15,271,560 18.62
Gregory Hanks 81,622,398 99.51 400,769 0.49
Glen Dickson 61,425,265 74.89 20,597,902 25.11
Reagan Glazier 81,969,257 99.93 53,910 0.07
At the Meet ing the Company’s shareholders also approved the appointment of Davidson & Company LLP,
Chartered Professional Accountants as the auditors of the Company for the ensuing year. Finally, the resolution
approving the conversion of the Company’s outstanding subscription receipts (the “Conversion Resolution”) as
set out in the Freegold Circular was approved by the disinterested shareholders of the Company, with more
than 99% of the votes cast in favour of the Conversion Resolution at the Meeting. With the receipt of the
requisite shareholder approval, the outstanding subscription receipts of the Company will be converted into an
aggregate of 59,047,026 common shares of the Company and 29,523,513 common share purchase warrants,
and net proceeds of approximately $ 39,154,007 are expected to be released to the Company. Further details
regarding the Conversion resolution and the outstanding subscription receipts can be found in the Freegold
Circular.
Each of the matters voted upon at the Meeting is disc ussed in detail in the Company’s Information Circular
dated August 14, 2020, which is filed under the Company’s profile at www.sedar.com.
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Golden Summit Update:
Drilling is continuing at Golden Summit, and with the approval of the conversion resolution for the
subscription receipts by the disintere sted Shareholders, this now will permit the Company to aggressively
move forward on the Golden Summit Project. A second drill rig has been added and plans are underwa y
for the addition of a third rig in the next several weeks Drilling will continue to focus on both expanding
the existing resource and to define the orientation of the higher grade zone intersected in GSDL2001.
Kristina Walcott, President and CEO stated “We would like to thank our Shareholders for their continued
support, and are looking forward to expanding our current exploration program at Golden Summit. The
results from h oles GSDL2001 and GS2002 have successfully demonstrated the ability to both expand and
to potentially define a higher-grade component to the existing resource”.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on exploration in Alaska and holds through leases the Golden
Summit Gold Project, near Fairbanks, as well as the Shorty Creek Copper –Gold Project near Livengood.
For further information:
Kristina Walcott
President and CEO
Telephone: 1.604.662.7307
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 unk nown risks, uncertainties and other factors which may
cause the actual results, performance or achievements to be materially different from any future results, performance or achi evements expressed or implied by
the statements. Such factors include without limitation the completion of planned expenditures, the conversion of outstanding subscription receipts and the
release of escrowed funds, the ability to complete exploration programs on schedule 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 to o
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 specul ative
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 lim itation, statements regarding potential
mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking stateme nts 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, 201 9 filed under Freegold’s profile at
www.sedar.com for a detailed discussion of the risk factors associated with Freegold’s operations.