Company Information for Freegold Ventures Ltd

Company stock charts - 12 Month chart

TSX; ITF

View full financial data

OTCBB; FGOVF

View full financial data

Company Statement

Freegold is a Canadian gold exploration and development company which has assembled a senior, production-oriented management team over the past two years. Freegold’s team has an excellent track record, having taken 5 companies to production in the past, and having created over $1 billion of new market capitalization in the process. This team has collectively been involved in the start-up, acqui-sition, financial turnaround and operation of 11 separate gold producers, with an aggregate production of 1,535,000 oz gold and 9,600,000 oz silver. With this experience, an excellent portfolio of North American projects, new supportive shareholders including Sprott Asset Management and Rob McEwen, and a sound capital/financial structure, Freegold is well along its own path to sustained gold production. Freegold’s current assets include three advanced-stage gold projects: the Almaden project in Idaho, and the Golden Summit and Vinasale projects in Alaska. In addition Free-gold is actively exploring its Rob project, an early-stage exploration project also in Alaska.

Current Operations

Almaden Gold Project, Idaho

Located 12 miles east of Weiser, Idaho, Freegold controls 100% of the Almaden gold deposit through long-term lease agreements. A 1997 Feasibility Study on the project contemplated the development of a 95,000 oz/year open-pit, heap leach operation on this one mile long surface deposit. While the project was placed on hold during the subsequent period of low gold prices, Freegold’s new management is now aggressively advancing the project.
Following the first 43-101 confirmation of the resources, and a technical review by Hatch Limited in 2006, Freegold commenced a 40,000 foot drill program aimed at expanding numerous areas of the deposit that remained open at depth and along strike. This recently completed program has added up to 300 feet of depth to the original 200 foot pit design in the central part of the deposit, and has added significant new areas of mineralization by following newly traced feeder zones along strike and to depth.
An updated resource estimate will be completed later in 2007 by Mine Development Associates of Reno, after which a new preliminary assessment will be undertaken to determine if original the 1997 mine design remains the optimal way in which to develop the deposit.
Golden Summit Gold Project, Alaska

Over 7 million ounces of gold has been historically recovered from Freegold’s 7-mile wide property, located less than 5 miles from the 330,000 ounce per year Fort Knox Mine outside Fairbanks, Alaska. Exploration by Freegold over the past two years has identified numerous new areas of high-grade and bulk-tonnage mineralization.
In early September 2007, Freegold took its first step in transitioning the company from explorer to producer with the commissioning of its 1,200 ton per day processing plant at Golden Summit. The plant, which is designed to process high-grade surface veins identified in trenching, drilling and recent bulk sampling, consists of a mobile crushing plant, and a three stage gravity circuit.

In addition to processing the permitted 130,000 tons/year of bulk sampled material, exploratory drilling and bulk sampling is continuing on the initial open ended 5,000 foot long mineralized zone within the central part of the property. This work has identified multiple bulk-mineable shear zones similar in size and grade to those being mined at Fort Knox. In addition, continuous veins and bleed mineralization have returned multiple +1 oz/ton assays over +5 foot intervals along their surface length.

Vinsale Gold Project, Alaska

In March 2007 Freegold signed a Mineral Exploration Agreement with Option to Lease with Doyon, Limited an Alaskan native corporation on their Vinasale project. Vinasale is located in central Alaska within the same mineralized trend that hosts the 33 million oz Donlin Creek deposit and the operating Nixon Fork gold mine. Vinasale hosts a historical, non 43-101 compliant resource of 920,000 oz of gold that was delineated in the early 1990’s. Freegold‘s 2007 program is focusing on other potential areas within the 140,000 acre property before turning its attention on future resource expansion.
Rob Gold Project, Alaska
Acquired in 2002, Freegold holds a 100% lease interest in the Rob Property, located 110 miles southeast of Fairbanks and 20 miles east of the 5.6 million ounce Pogo goldmine. Gold mineralization at Rob exhibits many of the same geological and geochemical characteristics to those found at Pogo. Initial work by Freegold consisted of rock and soil auger sampling, which successfully confirmed the presence of numerous drill ready targets. Additional grab sampling of surface vein material in 2006 and 2007 returned values of 23.5, 46.7, 19.6, 11.5, 31.8 and 49.9 g/tonne.

In the summer of 2007 the company undertook a 3,514 foot drill program on two of the target areas. Drilling confirmed the high grade nature of the mineralization returning 13.5 feet averaging 20.1 g/t and 13 feet averaging 29.0 g/t respectively. Higher grade intervals included 1.5 feet @ 32.3 g/t, 1 foot @ 135.7 g/t and 2.5 feet @ 23.73 g/t in hole 13 and 3.6 feet @ 89.0 g/t in hole 14. Holes 15 and 17, which tested the vein at depths of 93 and 179 feet, intersected 13 feet averaging 3.5 g/t and 6.5 feet averaging 23.2 g/t respectively.

Geographical Spread

USA - Alaska, Idaho

Board of Directors and Key Management

Morris Medd	Chairman
Steve Manz	President & CEO
Robert Jackson	Director
Michael Gross	VP Exploration
Jeff Woods	VP Project Development
Kristina Walcott	VP Business Development
Edward Fields	Almaden Project Manager

Company Address

1750-700 West Georgia StreetP.O. Box 10056
Vancouver, British Columbia, Canada V7Y 1B6


Telephone:	+1 604.662-7307
Facsimile:	+1 604.662-3791
Email:	ir[at]freegoldventures.com
Website:	http://www.freegoldventures.com

Year End

December 31

Major Shareholders

Sprott Asset Management - 10%

Rob McEwen - 8%

Most Recent Statement

17/06/08 - Freegold Reports Positive Results from Initial Bulk Sampling at Golden Summit
13/06/08 - Freegold Recommences Processing of Bulk Samples with Enhanced Gravity Plant at Golden Summit
20/05/08 - Freegold Readies for Summer Drilling at Vinasale and Secures $1.8 million in Equipment Financing
28/04/08 - Freegold In-Fill Drilling Confirming Continuity of Gold Zones in Western Expansion at Golden Summit
24/04/08 - Freegold Intersects New High Grade Structures (2 m of 54 g/t Gold) and Multiple Shear Zones in 700 m Step-Out Drilling at Golden Summit
08/04/08 - Freegold Cuts 12 m of 9 g/t Gold at Golden Summit

To top