Freegold Limited

Company profile

Freegold is an exploration company focused on gold exploration in Alaska. Its flagship asset is the Golden Summit project, located just 30 minutes from Fairbanks, Alaska. A reinterpretation of the project\' s potential in 2019 led to significant growth. Since 2020, exploration efforts have achieved considerable success. With a discovery cost of less than $ 4. 00 per ounce and a notable increase in both grade and tonnage, Golden Summit has become one of the largest undeveloped gold resources in North America. The substantial increase in resource ounces and grade resulted from targeted drilling campaigns conducted from 2020 to 2024, totalling over 130,000 metres, along with ongoing improvements to geological models and understanding of mineralization controls. Positive metallurgical test results have also advanced the project. Continued drilling has further delineated zones of higher-grade mineralization and transformed areas previously considered waste into potentially economically viable mineralized zones. Expansion to the west has led to the discovery of new, higher-grade zones, increasing both indicated gold resources and grades. There remains significant exploration potential to the west and east of the known deposit. Recovery rates exceeding 90% have been achieved using sulphide-oxidizing techniques, including BIOX ®, POX, and the Albion Process ™.

As of July 2025, the current Golden Summit resource includes an Indicated Primary Mineral Resource of 17. 2 million ounces at 1. 24 g/t Au and an Inferred Primary Mineral Resource of 11. 9 million ounces at 1. 04 g/t Au. As of 2025, an additional 32,000 metres have been drilled. Drilling is continued until mid-December. Results from the 2025 drilling campaign will form the basis for an updated mineral resource estimate. The 2026 drilling program is well underway with a minimum of 50,000 metres of drilling currently planned. In addition to the ongoing drill programme, metallurgical studies, various supporting studies, including archaeology, wetlands delineation, and baseline environmental work, are ongoing all of which will help support the upcoming Pre-Feasibility Study (PFS).