Freegold signs letter of intent with Alaska Large Mine Permit team for the Golden Summit project (Alaska)


7. January 2014 (Vancouver, BC) – Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N) („Freegold“) is pleased, announce, that there is a Memorandum of Understanding with the Office of Project Management and Permitting („OPMP“) des Alaska Department of Natural Resources („DNR“) signed regarding cooperation with the Large Mine Permitting Team of the State. Das Large Mine Permitting Team („LMPT“) offers interdisciplinary expertise and is involved from the Vorgenehmigungsphase on to the stage after the closure of mines in projects. Since Freegold now in the economic Erstbewertungsphase (Preliminary Economic Assessment, „PEA“) passes, is the employment of LMPT the next logical step, to the proper development of the Golden Summit project to ensure.

Requests for the preparation of a PEA were sent to various engineering and Freegold expected, to award the contract for the PEA in the near future, so that the study over the course of 2014 can be completed.

The Golden Summit project currently hosts a NI 43-101 compliant indicated resource of 79.800.000 Tons with an average of 0,66 g / t gold and an inferred resource of 248.060.000 Tons with an average of 0,61 g/t Gold, what by using a cut-off grade 0,3 g / t gold for a possible open pit 1.683.000 Ounces of gold or. 4.841.000 Ounces of gold equivalent (June 2013). Furthermore, the overall resource contained June 2013 also an oxide content. The oxide resource includes in the indicated category 25.026.200 Tons with an average of 0,55 g / t gold and 16.620.510 Tons with an average of 0,47 g / t gold in the inferred category, which, when using a cut-off grade of 0,20 g/t 439.000 Ounces of gold or. 253.000 Ounces of gold equivalent. The Oxiddecke lies primarily within the upper 200 Foot (60 Meter) der resource. So far, the resource drilling limited to an area of 300 Meters on 1,5 Kilometers (about 110 Acres), the entire project area of ​​Golden Summit includes but 13.000 Acres and is home to a number of other significant exploration targets, which have the potential, to accommodate additional resources. These all point in the upper 200 Foot (60 Meters) a Oxiddecke on. First bottle roll tests of the oxide material have 24 Hours recovery rates of more than 85 % appropriate. A comprehensive metallurgical program is currently underway.

Since 2011 the holes in the resource area Dolphin / Cleary, Part of the Golden Summit project, were recorded, Freegold has the resources into the indicated category to 867 % and in the inferred category to 820 % increased.

Curt Freeman (M.Sc., P.Geo), primary geological consultant for the project, is the Qualified Person, and has reviewed the technical information in this press release. The drill core was cut in half using a diamond saw, one half was given for geochemical analysis in sealed bags. The core samples were collected by ALS Chemex on site and to invest in Fairbanks (Alaska) transported. Measures to ensure the quality control / quality assurance of the samples were converted.

Über Freegold Ventures Limited

Freegold is a TSX, Recording Company, focused on the exploration of gold projects in Alaska. In addition to the Golden Summit project, the company also maintains a 100 %-Lease interest in the Rob Gold Project near the Pogo Gold Mine of Sumitomo Metal Mining in Bergbaudistrik Goodpaster in Alaska and has an exploration agreement with lease option for the gold project Vinasale in Central Alaska. The Vinasale project hosts a NI 34-101 compliant indicated resource of 3.410.000 Tons with an average of 1,48 g / t gold and an inferred resource of 53.250.000 Tons with an average of 1,05 g/t Gold, what by using a cut-off grade 0,5 g / t gold for a possible open pit 162.000 Ounces of gold or. 1.799.000 Ounces of gold equivalent, houses. The resource estimate was prepared by Giroux Consultants Ltd.. made.

For further information please contact:
Kristina Walcott-President und CEO
Phone: +1.604.662.7307

Certain statements in this press release contain forward-looking statements, which, without limitation, statements regarding planned expenditures and exploration programs. These statements relate to future events and conditions and therefore involve known and unknown risks, Uncertainties and other factors, which could cause, the actual results and performance to be materially different from any future results or performance, which were expressed in such statements, differ. Such factors include, without limitation outlay of expenditure, the assets, Carry out exploration programs on schedule and the success of exploration programs.

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