New Mineralized Area At The Gold Summit Project

VANCOUVER – Freegold Ventures Limited reported successful identification of a new mineralized area at its Golden Summit project, the Tamarack Zone.
The Tamarack Zone is situated approximately 400 metres east of the Cleary Zone, extending the mineralized footprint at Golden Summit. As part of Freegold’s ongoing efforts to identify additional mineralization adjacent to the primary resource area, four drill holes were completed in the Tamarack Zone. This initiative is designed to evaluate the project’s exploration potential further and delineate the extent of mineralization. The identification of the Tamarack Zone marks a significant advancement in expanding the eastern boundaries of Golden Summit’s mineralized area. This discovery highlights Freegold’s continued success in growing the mineralized footprint at Golden Summit. The new Tamarack Zone demonstrates both grade and width comparable to previous intercepts in the resource area, suggesting the potential for a significant new mineral resource area immediately to the east.
The first hole in the Tamarack Zone, GS2536, was collared nearly 400 metres east of one of the easternmost holes in the Cleary Zone (GS2532) and intersected 1.28 g/t gold over 49.2 metres. Freegold is highly encouraged by these initial results. Assays for the remaining three holes in this new zone are pending: GS2540, GS2545, and GS2551. Freegold has planned additional drilling for 2026, targeting the area between Cleary and Tamarack, which contains substantial infill potential in previously untested areas.
The easternmost drill hole in the Cleary Zone, GS2532, was directed north to assess the down-dip continuity of the Cleary Vein system along its eastern edge. Known for high-grade, narrow, and discontinuous veins at shallower depths, Freegold’s exploration is focusing on the potential for wider mineralized zones at depth. Drill hole GS2532 intersected a broad zone of 0.91 g/t gold over 150.9 meters, further validating the current exploration model and provided significant infill data for the upcoming resource update and pre-feasibility study (PFS).
Drilling was completed in mid-December, with 62 holes drilled. Analytical work, cutting and sampling of the remaining drill holes, is ongoing, and further results will be reported once they have been received and validated.
Drilling is planned to re-commence in February, beginning with an initial 50,000-meter program. Comprehensive metallurgical studies and an extensive infill drilling campaign will continue to support ongoing resource modelling and the pre-feasibility study (“PFS”). These efforts are underpinned by a highly successful equity financing round that attracted participation from over 20 institutions and secured capital for continued exploration beyond the main resource area and for completing the PFS.