FREEGOLD TSX:FVL OTCQX: FGOVF Freegold Intersects 1.7 g/t Au over 70.1m at Golden Summit
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Intersects 1.7 g/t Au over 70.1m at Golden Summit
Highlights:
GS2519 1.08 g/Au over 110.7m one of the most western
holes drilled to date in the WOW Zone.
GS2521 1.7g/t Au over 70.1m
GS2522 1.44 g/t Au over 22.5m from 4.5m
GS2526 0.9 g/t Au over 182.9m
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of
mineralization
Vancouver, BC – November 20th, 2025 — Freegold Ventures Limited
(TSX: FVL, OTCQX: FGOVF) pleased to announce the results from eight
additional drill holes at the Golden Summit project which further
demonstrate the project's resource potential. To date, the company has
completed 54 drill holes, and the drilling of 36,231m including ongoing
holes. A substantial number of assay results are still pending with results
expected to be reported as they are finalized.
Objectives of the 2025 Drill Program
The 2025 drill program aims to upgrade resources, expand
mineralization, and define boundaries in the Dolphin and Cleary Zones.
This involves exploration, geotechnical, and metallurgical test holes.
Significant exploration potential remains both to the west and east of
the current deposit.
Cleary Zone
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2510 492.9 -75 360 35.7 63.1 27.4 0.89
297.8 316.1 18.3 0.82
370.9 377 6.1 7.50
425.8 459.3 33.5 1.49
GS2513 448.1 -80 360 35.7 60 24.3 1.43
261.2 268.5 7.3 5.98
incl 263.3 264.3 1.0 31.74
353.6 383.1 29.5 1.06
407.5 422.8 15.3 0.96
GS2521 577.3 -75 360 249 319.1 70.1 1.7
416.7 481.3 64.6 0.73
535.5 577.3 41.8 1.29
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization .
2025 PROGRAM
• Drilling is expected to remain
ongoing until mid-December
• Conversion of inferred resources
into indicated & further
exploration drilling and
geotechnical drilling.
• 54 holes ( ~35,000m) 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 Intersects 1.7 g/t Au over 70.1m at Golden Summit
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GS2510 had a planned depth of 600m but reached only 492.9m due to difficult drilling conditions. In the target zone, the
hole intersected 1.49g/t Au over 32.5m at a depth of 425.8m. GS2513 and GS2521 were both infill holes and part of the
10-hole groundwater investigation program conducted to measure the hydraulic properties of lithologies within the
potential proposed pit volume (i.e., schist, granodiorite, and tonalite) through packer testing. The results will provide
hydraulic conductivities to inform the conceptual hydrogeologic model and help estimate dewatering needs. Vibrating
Wire Piezometers (VWPs) were installed in these 8 of these holes to measure groundwater levels within the potential pit
area, including vertical and horizontal gradients, to identify potential fault-block compartmentalization, and to monitor
long-term groundwater levels. VWP depths were chosen to target various schist units, granodiorite, and tonalite in each
hole.
GS2513 intersected higher-grade mineralization closer to surface, with 1.43g/t Au over 24.3m from 35.7m. It was also
planned for a depth of 600m but was terminated at 448m due to difficult conditions. GS2521 intersected 1.7g/t Au over
70.1m at 259m and an additional 1.29g/t Au at 535.5m; however, the hole was lost in the mineralized zone before
reaching the planned depth of 700m.
Dolphin Zone
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2518 656.2 -75 360 142 169.1 27.1 1.17
262.7 307.8 45.1 0.86
364.8 370 5.2 1.35
507.5 569.1 61.6 0.96
611.7 617.8 6.1 4.14
GS2526 603.6 -80 360 24.2 25.6 1.4 12.19
37.5 53.9 16.4 1.26
104.2 130.2 26 0.93
282.6 290.2 7.6 4.97
367 381.6 14.6 0.82
386.2 569.1 182.9 0.9
incl 544.2 569.1 24.9 1.29
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization .
GS2518 was drilled to a depth of 656.2m, but was initially planned to 700m. The hole was lost due to difficult ground
conditions, but it still demonstrates the continuity of mineralization. GS2518 was also a hydrological hole. G2526
intersected several zones, with a higher-grade zone closer to the surface of 1.26 g/t Au over 16.4m from a depth of
37.5m, and a broad zone of 0.90 g/t Au over 182.9m from 386.2m. GS2526 lies within the projected potential starter pit
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Intersects 1.7 g/t Au over 70.1m at Golden Summit
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area. These results suggest strong mineralization near the surface, which could enhance the economic viability of the
starter pit area and support further exploration efforts.
GS2519, GS2522 and GS2525 – WOW Zone
GS2519, GS2522 and GS2525 were all drilled within the WOW Zone. All three holes intersected significant zones of over
1.0 g/t Au mineralization, continuing to validate the WOW Zone’s potential to host higher-grade mineralization. GS2519
one of the most western holes drilled in the WOW zone and returned 1.08g/t Au over 110.7m from a depth of 365m.
The hole encountered several other zones over 1.0 g/t Au at depth, including 1.65g/t Au over 54m from 404m, and a
further 1.44 g/t Au over 18m from 617m. These intercepts indicate strong mineralization potential to depth and
continue to support our ongoing resource model. GS2522 intersected 1.44 g/t Au over 22.5m from 4.5m, and several
other narrower zones of plus 1 g/t Au, again demonstrating the potential of this exciting zone. GS2525 (section 478600),
demonstrates the potential to expand the current mineralized envelope with infill drilling. Mineralization in the WOW
Zone remains open to depth and along strike to the west and southwest.
WOW Zone
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2519 755 -90 0 78.3 86.6 8.3 1.11
108.4 117.2 8.8 1.15
128 137 9 3.15
186.3 198.8 12.5 1.39
365 475.7 110.7 1.08
incl 404 458 54 1.65
536 598.4 62.4 0.87
617 635 18 1.44
GS2522 665 -75 360 4.5 27 22.5 1.44
142.3 162.5 20.2 0.74
344 365 21 1.30
590 611 21 1.05
GS2525 539.3 -70 360 59 72 13 1.10
181.7 194.8 13.1 3.45
407 456.4 49.4 0.97
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 Intersects 1.7 g/t Au over 70.1m at Golden Summit
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Metallurgical Update
Metallurgical test work continues to validate the understanding of the potential process flowsheet for the Golden
Summit material. As part of these ongoing studies, an expanded Master Composite of Golden Summit drill core assay
rejects has been created and is a primary focus of the ongoing metallurgical test program being conducted at BaseMet
Labs in Kamloops, BC.
The Master Composite consists of assay reject material from 12 drill holes based on multiple continuous intervals in
each hole above cut-off grade of 0.5 g/t gold Au subject to a minimum mining thickness of 6m. A total of 1,500kg of
material has been blended with the intention of processing through a pilot plant to produce sufficient mass of sulphide
concentrate upon which to carry out further optimization test work of the three oxidation processes, which have
delivered excellent results to date. Pressure Oxidation (POX), BiOx and Albion Process™ testing will continue to be
applied to Golden Summit concentrate to enable trade-off studies in the Pre-Feasibility Study (“PFS”).
The drill holes which have been used in the Master Composite are:
GS2167, GS2168, GS2201, GS2203, GS2206, GS2207, GS2208, GS2209, GS2438. GS2439 .GS2440, GS2441 –(see below
link for hole locations)
A total of six tests, each comprised of 20kg of the Master Composite material incorporating gravity recovery, followed by
locked-cycle flotation and cleaner flotation to produce a clean sulphide concentrate, have been completed. The mass of
the cleaner concentrate is approximately 4.6% of the total feed. The cleaner concentrate was subsequently treated with
Albion Process™., and the Carbon-In-Leach response of the Albion Process™ residue was excellent, with over 97% of the
gold contained in the cleaner concentrate being recovered by standard CIL techniques. The net overall gold recovery
from the feed material was 93.9%.
Ongoing Program
The 2025 program is advancing steadily. In addition to this year’s extensive drilling, other activities supporting the
initiation of a Pre-Feasibility Study—such as cultural resource assessments, paleontology, groundwater analysis, and
mamma habitat studies—are still underway.
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.
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Freegold Intersects 1.7 g/t Au over 70.1m at Golden Summit
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Overall gold recovery rates exceeding 90% have been achieved using a flowsheet consisting of gravity concentration,
flotation to produce a cleaner concentrate, subsequently treated with sulphide-oxidizing techniques, including
BIOX®,POX, and the Albion Process™, producing feed to carbon-in-leach for additional gold recovery from the
concentrate.
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 three-year trailing average gold price. 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 provide the basis for an updated mineral resource estimate, which will support the upcoming Pre-
Feasibility Study (PFS).
Links to the Plan Map and Section 478600E and Master Composite Drill Hole Locations
https://freegoldventures.com/site/assets/files/6287/cp-met-drilling-all.png
https://freegoldventures.com/site/assets/files/6287/nr-2025-drilling-20251119.png
https://freegoldventures.com/site/assets/files/6287/e478600-section-november2025.pdf
Update on Shorty Creek
Freegold and Gold Range were unable to reach an agreement on suitable commercial terms, and the lease for the Shorty
Creek project has therefore been terminated. As we enter this transformational period for Freegold, we believe our
attention is best focused on Golden Summit. Accordingly, Freegold’s exploration and development efforts will focus on
the highly prospective Golden Summit Project as it advances the project through pre-feasibility over the coming year.
QA/QC
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 will 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.
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Freegold Intersects 1.7 g/t Au over 70.1m at Golden Summit
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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. Su ch factors include, without
limitation, the completion of planned expenditures, the ability to complete exploration programs on sch edule, and the success of exploration programs. See Freegold’s
Annual Information Form for the year ended December 31st, 2024 , filed under Freegold’s profile at www.sedar.com, for a detailed discussion of the risk factors associated
with Freegold’s operations.