FREEGOLD TSX:FVL OTCQX: FGOVF Freegold Continues to Intersect Higher-Grade at Golden Summit Intersecting 2.38 g/t Au over 104.6m
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Continues to Intersect Higher-Grade at Golden Summit
Intersecting 2.38 g/t Au over 104.6m
Highlights:
GS2520 8.18 g/t Au over 18m
2.38g/t Au over 104.6m
incl 4.0g/t Au over 34.4m
GS2506 1.62 g/t Au over 45.7m
GS2507 1.07g/t Au over 99m
GS2512 1.33 g/t Au over 59.4m
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization
Vancouver, BC – October 20th, 2025 — Freegold Ventures Limited (TSX: FVL,
OTCQX: FGOVF) pleased to announce the results from four additional drill
holes at the Golden Summit project. To date, the company has completed 43
drill holes, totaling approximately 28,000 meters, with an additional five holes
currently in progress. A substantial number of assay results are still pending.
Objectives of the 2025 Drill Program
The 2025 drill program is designed with multiple objectives: to continue
infilling and upgrading existing resources, to explore areas for expansion of
existing mineralization, and to define the mineralized boundaries primarily in
the Dolphin/Cleary Zones. These objectives are being addressed through a
combination of exploration, geotechnical, and metallurgical test holes.
Significant exploration potential remains to the west of the known deposit.
Metallurgical testwork is advancing, and further metallurgical processes are
being evaluated to potentially increase overall gold recoveries.
Dolphin Zone
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2520 508.7 -75 360 43.6 61.6 18 8.18
incl 43.6 44.2 0.6 87.3
incl 57.6 59.1 1.5 42.6
124 446.2 322.2 1.13
incl 124 228.6 104.6 2.38
incl 194.2 228.6 34.4 4.00
incl 428.9 446.2 17.3 1.11
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.
2025 PROGRAM
• Drilling is ongoing with 5 rigs
• Conversion of inferred resources
into indicated & further
exploration drilling and
geotechnical drilling.
• 43 holes ( ~28,000m) completed
• Ongoing metallurgical work,
focusing on flowsheet optionality
with sulphide oxidation is a key
part of our strategy to maximize
the potential of the resource.
• Commencement of a Pre-
Feasibility Study (PFS)
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Continues to Intersect Higher-Grade at Golden Summit
Intersecting 2.38 g/t Au over 104.6m
2 | Page
GS2520
GS2520 was drilled as an infill hole in the northern part of the Dolphin Zone. Results from this hole demonstrate the
potential for higher-grade mineralization closer to the surface in the northern portion of the Dolphin deposit. Notable
intercepts include 8.18 g/t Au over 18m from a depth of 43m, as well as 1.13 g/t Au over 322.2m, which includes a
higher-grade zone averaging 2.38 g/t Au over 104.6m.
GS2507 and GS2512
GS2507 and GS2512, two PQ core holes from the current program, were drilled to the north and both intersected broad
zones of higher-grade mineralization. GS2507 returned 1.07 g/t Au over 99m from 294.1m. GS2512 intersected 184.4m
grading 0.81 g/t Au at a shallower depth, well above the current resource cut-off grade of 0.5 g/t Au, and also returned
an intersection of 1.33 g/t Au over 59.4m from 512.7m. This demonstrates the continued potential for mineralization at
depth.
In addition to infill drilling, the core from these holes is also being used for further metallurgical testwork at BaseMet in
Kamloops, BC, where it will be used to assess the comminution parameters of the Golden Summit deposit across various
lithologies, alteration types, and locations.
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2507 663.5 -75 360 11.3 19.8 8.5 0.98
94.5 104.9 10.4 2.48
294.1 393.1 99 1.07
GS2512 800.1 -80 360 197.5 214 16.5 1.15
264 448.4 184.4 0.81
512.7 572.1 59.4 1.33
702.6 708.7 6.1 6.16
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.
Cleary Hill Area – Hole 2506
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2506 511.1 -70 360 50.3 66.1 15.8 1.09
258.2 303.9 45.7 1.62
447.1 456.3 9.2 0.73
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Continues to Intersect Higher-Grade at Golden Summit
Intersecting 2.38 g/t Au over 104.6m
3 | Page
GS2506 was drilled to the north to infill the deposit in the Cleary area further. It continues to show the potential for
broader zones of higher-grade mineralization, intersecting 1.62 g/t Au over 45.7m.
Metallurgical Program
Flotation testing continues for the master composite. Initial locked-cycle tests have shown gold recovery rates exceeding
95%, utilizing gravity and cleaner flotation with the sulphide concentrate accounting for less than 5% of the total mass,
thereby minimizing the volume that needs further oxidation. These results will be incorporated into a small pilot plant
program at BaseMet to produce a substantial amount of concentrate for upcoming oxidation optimisation studies. These
studies will be ongoing over the next several months.
Flotation tailings from this process have also passed the EPA TCLP procedure 1311, with all leachate concentrations for
metals falling below maximum allowable limits, confirming environmental compliance. Further investigations are ongoing
to better understand and characterize the environmental impact of all flowsheet products and tailings.
Ongoing and Future Work
The 2025 program continues to make substantial progress, with assay results from over 20,000 meters yet to be
reported. Ongoing work also supports the commencement of a Pre-Feasibility Study, including cultural resource
assessments, paleontology, and groundwater characterization studies.
Since 2020, the Golden Summit Project has become one of North America's largest undeveloped gold resources. The
significant increase in resource ounces and grade is the result of targeted drilling campaigns from 2020 to 2024 (over
130,000 meters), ongoing improvements to geological models, and a better understanding of mineralization controls.
Positive metallurgical test results have also advanced the project. Ongoing drilling has continued to delineate zones of
higher-grade mineralization and to convert previously considered waste areas into potentially economically viable
mineralized zones. Continued westward expansion has resulted in the discovery of new higher-grade zones, increasing
both indicated gold resources and grades.
Recovery rates exceeding 90% have been achieved using sulphide-oxidizing techniques, including BIOX®, POX, and the
Albion Process™. As of July 2025, the current Golden Summit resource includes an Indicated Primary Mineral Resource
of 17.2 million ounces at 1.24 g/t Au and an Inferred Primary Mineral Resource of 11.9 million ounces at 1.04 g/t Au,
calculated using a 0.5 g/t cut-off grade and a gold price of $2,490. A significant number of assay results remain pending.
Drilling is expected to continue until mid-December and resume in February 2026. Results from the 2025 drilling
campaign will inform an updated mineral resource estimate, which will support the upcoming Pre-Feasibility Study (PFS).
Links to the Plan and Section 479200E
https://freegoldventures.com/site/assets/files/6287/nr_10202025_plan_map.png
https://freegoldventures.com/site/assets/files/6287/e479200e_october2025_newsrelease.pdf
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Continues to Intersect Higher-Grade at Golden Summit
Intersecting 2.38 g/t Au over 104.6m
4 | Page
HQ Core is logged, photographed and cut in half using a diamond saw, and one-half placed in sealed bags for preparation
and subsequent geochemical analysis by MSA Laboratories in Fairbanks, Alaska or ALS’s facilities in Vancouver and
Thunder Bay. At MSALABS, the entire sample will be dried and crushed to 70% passing - 2mm (CRU-CPA). A ~500g riffle
split was analyzed for gold using CHRYSOS PhotonAssay ™ (CPA-Au1). From this, 250g w ill be further riffle split from the
original PhotonAssay™ sample, pulverized, and a 0.25g sub-sample analysed for multi-element geochemistry using MSA’s
IMS230 package, which includes 4-acid digestion and ICP-MS finish. MSALABS operates under ISO/IEC 17025 and ISO 9001
certified quality systems.
Core samples were delivered to ALS’s facility in Vancouver, Canada, where each sample was crushed to 70% passing a 2
mm (Tyler 9 mesh, U.S. Std. No. 10) screen. A representative ~500 g subsample was obtained by riffle splitting (SPL-32a)
and analyzed for gold using ALS method Au-PA01, which provides a detection range of 0.03 to 350 ppm, in Thunder Bay.
In addition, a subsample was analyzed for multi- element geochemistry using ALS method ME -ICP61 (34-element, four-
acid ICP-AES).
A QA/QC program includes 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.
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.
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,
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, 202 4, filed under Freegold’s profile at www.sedar.com, for a detailed discussion of the risk factors associated
with Freegold’s operations.