Drill Permits For North Carlin Gold Project

VANCOUVER – Fremont Gold Ltd. has received the required permits from the Bureau of Land Management to launch its maiden drill program at the North Carlin gold project located at the northern end of Nevada’s prolific Carlin Trend. The Company has permitted 14 drill sites at North Carlin and plans to drill a minimum of three holes, totaling 1,500 meters, in a reverse circulation drill program. The fully funded drill program will commence shortly after the Company selects a drill contractor.

There are two types of targets at Alkali: a Carlin-type deposit in the southwest and a low-sulfidation epithermal deposit in the northeast. The Carlin-type target is based on favorable soil geochemistry and projected Carlin Trend faults. The low-sulfidation epithermal target is associated with a possible intrusive body and significant soil geochemical anomalies. The geochemical anomalies occur on the flank of the possible intrusive body near the intersection of a projected Carlin Trend fault and a northeast-trending fault.

At Coyote and Rossi, the target is a Carlin-type deposit in lower plate units. The same type of units that host gold mineralization a few kilometers to the south in the Devonian Rodeo Creek Formation, the Devonian Popovich Formation and the Silurian Roberts Mountains Formation.

Alkali is located at the intersection of projected Carlin Trend faults and the Alkali NE fault, a northeast-trending structural corridor that hosts Hollister to the southwest and Tuscarora and Jarbidge to the northeast. The Alkali NE fault cuts through a 1,500 meter by 2,000 meter magnetic high and coincident gold and mercury soil anomalies that occur on the eastern flank of the magnetic high. Together, the data suggests the presence of gold mineralization beneath alluvial cover.

The magnetic high at Alkali may indicate an intrusive body at depth. Magnetic highs representing intrusive bodies coincident with Carlin-type deposits can be found at Gold Standard Venture Corp.’s Railroad-Pinion project at the southern end of the Carlin Trend. They are also known to be associated with epithermal deposits at Hollister and Tuscarora.

Coyote is located at the intersection of projected Carlin Trend faults and the Coyote NE Fault. Surface geology is upper-plate Ordovician Vining Formation, which is likely underlain by the Roberts Mountain thrust and lower plate Paleozoic carbonate rocks - common hosts of Carlin-type deposits.

Fremont has identified broad areas of chalcedonic breccias and siliceous alteration on surface at Coyote, frequently associated with concealed gold mineralization in the Carlin Trend, and sampling has defined a large arsenic-in-soil anomaly. Arsenic is the most important pathfinder for gold in Carlin-type deposits.