Freegold Intersects 91 meters grading 0.71 % Cu Equivalent At Shorty Creek

VANCOUVER, BC - Freegold Ventures Limited reported results of its Fall 2015 drilling program on its Shorty Creek Project, Alaska.

Results of the program have demonstrated the potential for a significant copper gold porphyry deposit at Shorty Creek with discovery of 0.71 % Cu equivalent mineralization with the first core drilling carried out at Shorty Creek. The 2015 drill program was designed to test a combination of geochemistry, geophysics as well as favorable geology based on the results of the 2014 program and previous work. Of particular interest are the large magnetic highs with coincident copper, gold and molybdenum soil chemistry, as these magnetic highs are often indicative of the core of porphyry systems. The program was also designed to test the depth extent of the mineralization encountered in the previous Asarco drilling (1989/1990) in the area of Hill 1835. The Asarco holes were drilled to a maximum depth of 500 feet, and intersected gold and copper mineralization with copper grade increasing at depth.

A total of 4 holes were drilled during the 2015 program, which was severely hampered by challenging weather conditions, including an unseasonably large snowfall (the second largest for September in 102 years). The results of the 2015 drill program, however, demonstrate that the Shorty Creek Project has the potential to host a significant copper-gold porphyry deposit and we are tremendously pleased with the results.