Phase 1 Drill Program Completed At Griffon Gold Project

VANCOUVER - Fremont Gold Ltd. the completion of phase 1 drill program at the past producing Griffon gold project, located at the southern end of the Cortez Trend, Nevada. The original 2,000 meter phase 1 drill program was increased to 2,275 meters in nine holes but remained within budget. Fremont has received assay results from the first three holes with drill hole GF-20-3 intersecting a significant interval of near-surface oxide gold mineralization: 50.3 meters of 1.05 grams/tonne (g/t) gold starting at 29 meters. Holes four through nine have been submitted for assaying and the results will be reported once the assays are received, compiled, and interpreted.

"We eagerly await the results from holes four through nine," said Blaine Monaghan, CEO. "I'm confident that the results will demonstrate the potential for additional Carlin-type deposits at Griffon and set the stage for an expanded phase II drill program."

The phase I drill program tested a number of targets, including gold-in-soil anomalies, an area of unmined mineralization to the southwest of the Hammer Ridge pit, permissive stratigraphic targets, and the Blackrock fault.

Griffon is a past-producing gold mine located at the southern end of the Cortez Trend. Griffon was first drilled in 1988 and a limited amount of shallow pattern drilling (214 drill holes in total) focused on delineating the Discovery Ridge and Hammer Ridge deposits. From 1997-1999, Alta Gold Co. produced ~60,000 ounces of gold from Discovery Ridge and Hammer Ridge in an oxide heap-leach operation. Alta reported a number of unmined drill intercepts to the southwest of Hammer Ridge, including drill hole GR97-175 which returned 53 meters at 0.96 g/t gold, and proposed expanding Hammer Ridge before operations ceased.