Freegold Adds Strategic Land Holding

VANCOUVER, BC - Freegold Ventures Limited reported that it has completed the purchase of a strategic parcel of land adjoining its Golden Summit property outside Fairbanks, Alaska. The acquisition of this land, comprising 301.5 acres of private ground plus three additional State claims, is key to any long term development at Golden Summit.
Given the hilly topography of much of the Golden Summit property, this flat-lying tract of land was previously selected as the ideal spot in which to locate the existing bulk sample processing plant. The lease that had been in place to cover the portion of these private lands where the plant and tailings facilities are located has been terminated, and production royalties that had been associated with the previous lease agreement have been waived as part of the larger land acquisition.
These 312 acres are directly adjacent to the Steese Highway and power lines, and represents the only practical access to the gold mineralization currently identified in the Cleary Hill and Tolovana areas. In addition to the broad extent of flat lying ground, this parcel is ideally situated with respect to its abundance of processing water (being at the confluence of a number of streams) and on-site gravel. The large stockpiles of sand and gravel on the property will be a valuable asset in any future project expansions, and the Company will continue to investigate the sale of these gravels for local use as has been undertaken in the past.
The company's address is 1750 - 700 West Georgia Street, Vancouver, BC V7Y 1B6, 604.662-7307, fax: 604.662-3791, email: [email protected], www.freegoldventures.com.