An anonymous director reports

FREEGOLD VENTURES LIMITED ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $10 MILLION

Due to investor demand, Freegold Ventures Ltd. and Paradigm Capital Inc. have agreed to increase the size of Freegold Ventures' previously announced best-effort private placement offering. The amended offering is now for 25 million units of the company at a price of 40 cents per unit for total gross proceeds of $10-million. Each unit will comprise one common share of the company and one-half of one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share of the company for 24 months from the closing date at an exercise price of 52 cents per warrant share.

The net proceeds from the offering will be used for general corporate and working capital purposes.

The units will be offered for sale in each of the provinces of Canada, other than Quebec, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions. The company has filed a Form 45-106F19 with the securities commissions or similar regulatory authorities in each of the provinces of Canada, other than Quebec. As the offering is being completed pursuant to the listed issuer financing exemption, the units issued in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to this offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The offering is expected to close on or about March 26, 2024, and will be subject to regulatory approvals and customary closing conditions, including listing of the common shares on the Toronto Stock Exchange.

About Freegold Ventures Ltd.

Freegold Ventures is a TSX-listed company 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.