Dolphin Area Results Indicate Potential For High-Grade Mineralization

VANCOUVER – Freegold Ventures Limited reported on drill holes completed at its Golden Summit project. Of these, three were drilled in the Dolphin area and three in the Cleary area. The results from these holes continue to demonstrate robust continuity of mineralization throughout the resource area.  Notably, the Dolphin area results indicate the potential for higher-grade mineralization within the main resource zone. These results also provide further validation of the current resource model, confirming both its reliability and the potential for further growth at Golden Summit.

Both the already substantial size and exploration potential of the Golden Summit project clearly indicate that multiple development strategies can be pursued. Building on the success of the 2025 program, the 2026 drill program will continue to focus on tightening drill spacing to enhance the grade of the resource estimate prior to the pre-feasibility study (PFS). In addition, geotechnical and supplementary metallurgical test holes will also be drilled. Pilot-scale testing on a sample representative of the Golden Summit deposit is complete, and a flotation concentrate has been produced from a 1,500 kg sample collected from 12 drill holes. This concentrate, which is less than 4% of the original material, will undergo additional testing to refine the preferred oxidation or treatment process and determine the most effective processing methods during the PFS. So far, the prior oxidation test work has been highly successful, showing that total gold recoveries of over 90% are achievable. Tailings from locked-cycle flotation tests using the same flowsheet as the pilot plant have been analyzed for environmental characterization, including Acid Base Accounting (ABA) and Toxicity Characteristic Leaching Procedures (TCLP).  Tailings from the flotation-based flowsheet have been classified as low risk for acid generation due to the removal of sulphur and the presence of significant amounts of calcium carbonate. More specifically, results showed the Neutralization Potential to Acid Generating Potential ratio (NPR) of the flotation tailings was significantly above what is typically classified as non-acid generating. While maximizing recovery and NAV remain the priority, the project’s substantial resource base may permit a simpler processing flow sheet, which could lower both upfront capital and operating costs. This option will also be considered.