Positive Results From Initial Bulk Sampling at Golden Summit

VANCOUVER - Freegold Ventures Limited reported an update on its bulk sampling activities at the Golden Summit project located outside Fairbanks, Alaska, and to report the first gold grades from the sampled material. The first samples tested during the initial processing in late September and October of 2007 had a weighted average grade of 2.7 g/tonne (0.08 oz/ton), with individual stockpiles from a variety of areas tested ranging from 0.6 g/tonne (0.02 oz/ton) to 7.0 g/tonne (0.21 oz/ton). A total of 23,500 tons of material are currently stockpiled and are awaiting testing and processing over the next four months, along with a further estimated 45,000 tons that will be collected and processed from the Beistline, Fence 1 and Tolovana areas.
As indicated in the June 13, 2008 release which provided an overview on the Company's bulk sample processing and gravity-based gold recovery activities, the primary purposes of the bulk-sampling program at Golden Summit are to determine the continuity and average grades of gold mineralization found within numerous gold-bearing shear zones over a +5,000 foot strike length discovered and delineated through sampling and mapping numerous trenches and drilling over 1,000 shallow RAB holes over the past two years.
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