FREEGOLD TSX:FVL OTCQX: FGOVF Freegold Reports Final 2024 Drilling Results from Golden Summit Continuing to Confirm Higher Grade Potential
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Reports Final 2024 Drilling Results from Golden Summit
Continuing to Confirm Higher Grade Potential
• WOW ZONE – GS2437
o 6.84 g/t Au over 20.6m including 115.5 g/t over 0.8m
o 43.8 g/t Au over 3.0m
GS2435
o 1.01 g/t over 216m
o 20.4 g/t over 1.3m
GS2431
o 1.73 g/t over 111m
• DOLPHIN ZONE - GS2432
o 1.17 g/t Au over 253.3m
• CLEARY ZONE – GS2434
o 1.84/t over 61m
o 1.6 g/t over 18.7m
Vancouver, BC – May 8th, 2025—Freegold Ventures Limited ( TSX: FVL,
OTCQX: FGOVF) ("Freegold" or the "Company") is pleased to announce the final drill results from its 2024 drill program.
These results underscore the significant potential within Freegold's project area, particularly in the Dolphin and Cleary
Zones. The impressive grades and extended intercepts highlight the robustness of the mineralization and provide further
confidence. Freegold is committed to advancing its geological understanding and refining its resource estimates,
ultimately enhancing the project's value. An updated mineral resource estimate, incorporating the 2024 results, is
scheduled for completion by the end of the second quarter 2025.
Drilling at Golden Summit is now underway. The aim is to convert inferred mineral resources into the indicated category,
and additional exploration drilling will also be conducted. This comprehensive 2025 drill program will also include
additional drilling of metallurgical holes in preparation for a planned Pre-Feasibility Study (PFS).
Alongside the ongoing drill program, metallurgical work is advancing. Several rounds of testing are expected to be
completed over the coming months. The current metallurgical program is focused on identifying effective sulfide oxidation
methods to enhance gold recovery and revenue. This ongoing testing includes BIOX®, POX, and additional Albion Process™
oxidation before CIL. The results will provide a foundation for trade -off studies to maximise recoveries while minimizing
capital and operational expenditures in preparation for the PFS.
CLEARY ZONE
The 2024 drill program included four large-diameter holes for metallurgical test work. Hole GS2421, located in the Cleary
Zone, filled a 200m gap and exhibited one of the most continuous higher-grade intercepts observed in the eastern section
of the resource area. It returned 115.5m at 1.17 g/t Au, starting at a depth of 197.5m, and 3.62 g/t Au over 42m from a
2025 PROGRAM
• Drilling is now underway.
Conversion of inferred resources into
indicated & exploration drilling.
• Updated mineral resource.
• Ongoing metallurgical work.
• Commencement of PFS.
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Reports Final 2024 Drilling Results from Golden Summit
Continuing to Confirm Higher Grade Potential
2
depth of 361m (NR 11072024). Due to this success, three follow-up holes were drilled later in the season within the Cleary
Zone: GS2438, GS2441 (NR0423 2025), and GS 2434. All these holes intercepted broader zones of higher -grade material,
which are not typically seen at Cleary. Drilling is underway in the Cleary Zone, further targeting these higher-grade zones.
CLEARY ZONE - Drilled 70m SW of GS2421
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2434 550.8 -90 0 319.1 380.1 61 1.84
410.2 428.9 18.7 1.6
453 465.4 12.4 1.48
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.
DOLPHIN ZONE
In 2024, infill drilling was conducted within the Dolphin Zone. Holes GS2432 and GS2436 targeted the southern portion of
the Dolphin Zone. Hole GS2432 r eturned a significant intercept of 0.9 g/t Au over 428.5 m, including a notable 6.82 g/t
over 18.2m starting from 486.5m, further confirming the continuity of mineralization. Hole GS2436 indicates the potential
for mineralization to extend to depth.
DOLPHIN ZONE
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2432 788.2 -70 0 138 141.1 3.1 13.3
188.1 616.6 428.5 0.9
incl 363.3 616.6 253.3 1.17
incl 363.3 407.8 44.5 1.32
incl 486.5 504.7 18.2 6.82
GS2436 652.9 -90 0 121 132.9 11.9 1.6
256.9 275.2 18.3 0.99
410.6 440.7 30.1 1.08
508.1 646.8 138.7 0.9
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.
WOW ZONE
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Reports Final 2024 Drilling Results from Golden Summit
Continuing to Confirm Higher Grade Potential
3
The 2024 drill program concentrated on the WOW Zone, aiming to explore the potential for resource expansion to the
west while conducting limited infill drilling. Ongoing drilling in the WOW Zone has uncovered an extension of higher-grade
mineralization to the west and returned multiple higher -grade zones with a notable increase in the presence of visible
gold. The 2025 drilling in the WOW Zone is now in progress, targeting this higher -grade extension and conducting infill
drilling to improve resource classifications.
WOW ZONE
Hole Depth Dip Azimuth From To Interval Au
Number (m) (m) (m) g/t
GS2430 639.2 -90 0 121.9 123.7 1.8 23.1
270.4 316.1 45.7 0.62
434.9 461.5 26.6 0.66
491 501.7 10.7 1.79
GS2431 623 -85 0 111.3 120.8 9.5 2.81
209 238.1 29.1 1.08
263 289.9 26.9 0.6
323 350 27 1.94
407 518 111 1.73
incl 407 439.8 32.8 2.95
incl 430.5 433.6 3.1 22.0
incl 497 518 21 3.49
incl 512 515 3 19.3
548 561.1 13.1 0.78
GS2433 654 -90 0 482.2 508.8 26.6 0.82
523.8 530.1 6.3 4.19
GS2435 653 -85 0 98 155 57 1.07
196.5 215 18.5 1.17
254 470 216 1.01
incl 254 317 63 1.43
558.5 559.8 1.3 20.4
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Reports Final 2024 Drilling Results from Golden Summit
Continuing to Confirm Higher Grade Potential
4
Hole Depth Dip Azimuth From To Interval Au Au
Number (m) (m) (m) g/t Cut to
90g/t
GS2437 609 -85 0 69.8 102 32.2 0.85
268.8 293.8 25 1.39
326.6 344.4 17.8 1.37
396 416.6 20.6 6.84 5.85
incl 398.6 399.4 0.8 115.5
498 501 3 43.8
The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization
The current results demonstrate the potential for infill drilling to enhance the resource grade and upgrade resource
categories. This strategy aligns with our commitment to maximizing the project's value before completing any economic
assessments. With drilling now underway, Freegold is looking forward to an exciting field season.
Links to the Plan Map and Section
https://freegoldventures.com/site/assets/files/6287/plan_map_05082024.png
https://freegoldventures.com/site/assets/files/6287/newsrelease_section_478600e.pdf
A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half
using a diamond saw and one -half placed in sealed bags for preparation and subsequent geochemical analysis by ALS
Laboratories. Core samples were prepared in ALS's facility using the PREP -31BY package. Each core sample is crushed to
better than 70 %, passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than
85 % passing a 75- micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four
Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, using method
code Au-AA23 (30g sample size) and over 10 g/t, which are automatically assayed using an FA Grav method, Au-GRAV21.
Additional Au screening is performed using ALS’s Au- SCR24 method; select samples are dry -screened to 100 microns. A
duplicate 50g fire assay is conducted on the fine fraction, and an assay is conducted on the entire oversize fraction. Total
Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS’s
North Vancouver and Reno facilities.
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.
FREEGOLD TSX:FVL OTCQX: FGOVF
Freegold Reports Final 2024 Drilling Results from Golden Summit
Continuing to Confirm Higher Grade Potential
5
About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration in Alaska. It holds the Golden Summit Gold Project near
Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.
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 updat ed 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 explora tion 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. On January 30, 2020, the World Health Organization declared
the COVID-19 outbreak a global health emergency. Reactions t o the spread of COVID -19 continue to lead to, among other things, significant restrictions on
travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation
and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably
estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations
in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the
supply and demand for various products a nd services, global supply chains, and financial markets, as well as declining trade and market sentiment and
reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has
implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors,
and community. W hile the extent to which COVID-19 may impact Freegold is uncertain, i t is possible that COVID -19 may have a material adverse effect on
Freegold’s business, results of operations, and financial condition.