Three Drill Rigs Active At The Golden Summit

VANCOUVER - Freegold Ventures Limited reported that three drill rigs are now operational at Golden Summit. One rig is situated in the WOW Zone (Holes GS2502, GS2505), another is operating in the Cleary Zone (Holes GS2501, GS2503), and a third is in the Dolphin Zone (GS2504). A fourth rig is anticipated to begin in early summer. The 2025 drilling program aims to upgrade inferred mineral resources to indicated through targeted infill drilling, along with geotechnical drilling and additional metallurgical test holes. Since 2020, exploration has been highly successful.  With a discovery cost of under $4.00 per ounce and substantially increased grade and tonnage, Golden Summit has grown into one of the most significant undeveloped gold resources in North America.  Ongoing metallurgical tests indicate that a substantial portion of the mineralization is non-refractory and can be processed conventionally, although further processing of sulfides is necessary for optimal recoveries.

An updated mineral resource estimate based on the 2024 drilling is expected to be completed in the second quarter of 2025.