Drill Holes Demonstrate Presence Of Higher Grade Mineralization

VANCOUVER - Freegold Ventures Limited reported on the additional nine holes (7,753.5m) from its drill program designed to expand, upgrade and increase the overall resource grade at the Golden Summit Project ("Golden Summit" or the "Project") through systematic drilling.

With over 80 documented gold occurrences and 3 of the highest grade historic producers in the district situated within the property, Golden Summit project represents an exceptional exploration project.  Since 2020 over 83,000 meters in 130 holes have been drilled with results continuing to demonstrate the presence of a robust mineralized system.

Holes GS2226, GS2215, GS2236, GS2227 were drilled in the western portion of the Dolphin deposit. GS2215 returned an impressive 370.1 meters grading 1.71 g/t, including 3 meters grading 119 g/t Au near the central portion of the Dolphin deposit. GS2232 in the southern portion of the deposit continues to demonstrate the presence of higher-grade mineralization returning 3.83 g/t over 190.8 meters and a further 67.2 meters grading 1.37 g/t Au. Holes G2236 and GS2226 were drilled on the western side of the Tolovana Vein. Drilled to the north, GS2226 continues to expand the mineralization to the north in an area of limited drilling. GS2236, again drilled to the north on the west side of the Tolovana Vein structure returned a broad zone of higher-grade mineralization and further demonstrates expansion potential to the west intersecting 175.3 meters grading 1.93 g/t Au including 42.1 meters grading 5.5 g/t Au.