Ms. Kristina Walcott reports

FREEGOLD INTERSECTS 72.3 M GRADING 2.3 G/T AU AT GOLDEN SUMMIT

Freegold Ventures Ltd. is continuing its success on the Golden Summit project as two drill rigs continue to operate. A total of 30 holes have been completed since March. The completed holes are mainly in the west-northwest area of the Dolphin zone, with a focus on expanding mineralization to the north and reducing the strip ratio. Freegold is testing further expansion potential to the west with one drill operating on the western extension. Currently, one rig is also testing the Saddle zone, which is located four kilometres to the east of the Dolphin/Cleary zone. Several reconnaissance holes will be drilled to assess the historical veins along with their coinciding gold geochemistry to determine their potential to host additional resources.

Drilling continues to expand upon the broad, higher-grade zone found within the Cleary Hill vein swarm (CVS), which dips southward and plunges toward the Dolphin intrusive, and which results in a significant amount of higher-grade mineralization at depth. The goal of holes GS2308 to GS2311, located in the northern part of the Dolphin area, is to improve the strip ratio by identifying mineralization closer to the surface and defining even more high-grade mineralization. GS2309 was successful in demonstrating the potential for higher grade up dip (toward the north), intersecting several high-grade intercepts within a broader interval.

An additional hole was drilled from the same pad as GS2309. Hole GS2314 was drilled to the west, and the results are pending. Furthermore, Freegold's previous westerly hole (GS2241 -- which intersected 88.7 metres grading 1.43 grams per tonne gold), combined with strong gold-in-soil geochemistry, has acted as further evidence to support the idea that there remains significant expansion potential to the west.

Additional assay results are pending and will be reported once received.

The current program is designed to test the boundaries as well as expand and infill the current mineral resource estimate (February, 2023), which, using a 0.45 g/t Au cut-off and a $1,792 gold price, is 12.01 million ounces at 0.92 g/t Au (407,544,000 tonnes) (indicated) and 7.7 million ounces at 0.85 g/t (282,303,000 tonnes) (inferred) in preparation for an anticipated preliminary economic assessment early in 2024.

A sample quality assurance/quality control program was implemented. Drill cores were cut in half, using a diamond saw, with one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Chemex. All assays were performed by ALS Global Ltd., with sample preparation conducted at the ALS facility in Fairbanks, Alaska, with subsequent studies conducted primarily using its Vancouver and Reno laboratories.

Core samples were prepared using the PREP-31BY package in ALS's facility. Each core sample is crushed to better than 70 per cent passing a two-millimetre screen. A split of one kilogram is taken and pulverized to better than 85 per cent passing a 75-micrometre screen; a portion of this pulverized split is digested by four acids and analyzed via ICP-AES (method code ME-ICP61). Fire assay analyzes all samples with an AAS finish, method code Au-AA23 (30 g sample size), and samples over 10 g/t are automatically assayed using a fire assay gravimetric method, Au-GRAV21. Additional gold screening is performed using ALS's Au-SCR24 method; select samples are dry screened to 100 micrometres. A duplicate 50 g fire assay is conducted on the little fraction and an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. Analytical and assay procedures are conducted in ALS's North Vancouver and Reno facilities. A quality assurance/quality control program included laboratory and field standards inserted every 10 samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards, with additional blanks inserted following samples of visible gold.

Freegold operates a full-service camp at Golden Summit.

The qualified person for this release is Alvin Jackson, PGeo, vice-president of exploration and development for Freegold.

About Freegold Ventures Ltd.

Freegold is focused on exploration in Alaska and holds the Golden Summit gold project near Fairbanks and the Shorty Creek copper-gold project near Livengood through leases.

We seek Safe Harbor.