Twenty-Seven Holes Completed At The West Zone

VANCOUVER - Freegold Ventures Limited reported on the 2024 drilling program. Twenty-seven holes have been completed, with two more currently in progress. The 2024 drill program is strategically targeting the western extension for potential additional expansion ahead of the commencement of a pre-feasibility study. The drilling has been systematically testing the expansion of the west zone, with some holes drilled to the north to delineate mineralization boundaries on the west side (GS2404, GS2409, GS2410). Hole GS2403 was drilled to the northwest and did not reach the target depth.

GS2406, GS2407 and GS2408 show promising signs as they follow the historically higher-grade veins on the west side of Willow Creek, intersecting multiple higher-grade intercepts over significant widths. As drilling progresses westward, a change in the orientation of the mineralization has been observed, which seems to align with the orientation of the mineralization at the historic Newsboy Mine, where the mineralization dips to the north. Furthermore, the more western holes have revealed larger veins, consistent with historical reports indicating the presence of substantial veins with mineralization dipping northward and to greater depths.

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.

It's worth noting that the mineralization in the central Dolphin-Cleary Zone dips to the south. As a result, most of the drilling has been oriented to the north. With the observation of a change in the orientation of the mineralization in the drill core, further studies are being conducted to more accurately delineate the area where the shift in mineralization orientation occurs on the western side. As such, the remaining holes in the 2024 program will focus on drilling vertical holes to further define the mineralisation's orientation.

Four of the twenty-seven holes completed were PQ holes. Holes GS2412, GS2414, GS2416 and GS2418 were drilled in the west zone, central Dolphin Zone (two holes) and Cleary Zone, respectively.  These holes were drilled to a minimum depth of 600 meters with large-diameter core.  The core was sawn in half, sampled, and sent to Base Metallurgical Laboratories Ltd in Kamloops, BC. The remaining half of the core was then quartered, sampled, and sent for standard gold fire assay.  The cutting and sampling of these holes were prioritized to facilitate the ongoing test work following the encouraging results reported in June of this year. The metallurgical work is expected to take several months and will entail a full suite of metallurgical test work.