Ms. Kristina Walcott reports

FREEGOLD REPORTS 2023 FINAL RESULTS - CONTINUES TO CONFIRM WESTERN EXPANSION

Freegold Ventures Ltd. has released results from the final two holes of the 2023 drill program. The 2023 drill results will be incorporated into an updated mineral resource estimate (MRE), which is anticipated to be released later this quarter.

The drilling conducted in 2023 successfully demonstrated the potential for immediate expansion toward the west, with potentially higher grades. It is important to note that the Golden Summit already has a significant gold resource. However, the potential for higher grades at shallower depths to the immediate west is substantial and could significantly alter the overall project economics. Therefore, the company is confident that targeting shallower, higher-grade mineralization before undertaking economic studies will unlock even greater value in this project. Drilling is expected to commence shortly.

Hole GS2337 was drilled at an azimuth of 315 degrees to cross the Tolovana vein swarm extensions to the southwest. The hole successfully intersected various zones of higher-grade mineralization.

The Tolovana vein swarm lies within the three clear and immediate extensional geochemical trends identified: two south-southwest flanking trends and a clear east-west trend. The 2024 drill program will focus on exploring these identified trends.

Drilling in 2023 demonstrated:

• The potential to further expand the resource along strike to the west within a 1.5-kilometre-long gold-in-soil geochemical anomaly with the potential to increase the overall resource grade at shallower depths;
• Defined boundaries of the existing resource;
• Demonstrated the potential for the Saddle zone to host additional gold and silver mineralization.

Metallurgical work remains continuing, and further metallurgical test work will be completed during the 2024 program to enhance the Golden Summit project's overall economics.

A sample quality control/quality assurance program has been in place throughout the program. 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 Laboratories. Core samples were prepared in ALS's facility using the PREP-31BY package. Each core sample is crushed to better than 70 per cent passing a two-millimetre (Tyler 9 mesh, U.S. Std. No. 10) screen. A split of one kilogram is taken and pulverized to better than 85 per cent passing a 75-micron (Tyler 200 mesh, U.S. Std. No. 200) screen; a portion of this pulverized split is digested by four acids and analyzed by ICP-AES (method code ME-ICP61). Fire assay analyzes all samples with an AAS finish, method code Au-AA23 (30-gram sample size), and over 10 grams per tonne 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 microns. A duplicate 50-gram fire assay is conducted on the little fraction, and an assay is conducted on the entire oversize fraction. Total gold 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 is inserted every 25 standards.

The qualified person for this release is Alvin Jackson, PGeo, vice-president of exploration and development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Ltd.

Freegold is a Toronto Stock Exchange listed company focused on exploration in Alaska. It holds the Golden Summit gold project near Fairbanks and the Shorty Creek copper-gold project near Livengood through leases.

We seek Safe Harbor.