An anonymous director reports

FREEGOLD VENTURES LIMITED ANNOUNCES UPSIZE OF THE PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $36.5 MILLION

In connection with Freegold Ventures Ltd.'s previously announced best efforts private placement offering, the company and Paradigm Capital Inc. have agreed to increase the size of the offering. The company will now issue up to 42,492,000 units of the company at a price of 85 cents per unit for total gross proceeds of up to $36,500,700. 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 $1.30 per warrant share. The warrants shall be callable by the company should the daily volume-weighted average trading price of the common shares of the company on the Toronto Stock Exchange exceed $1.30 for a period of 20 consecutive trading days, at any time during the period (i) beginning on the date that is six months from the closing date of the offering, and (ii) ending on the date the warrants expire. Following a call trigger, the company may give notice to the holders of the warrants (by disseminating a news release announcing the acceleration) that any warrant that remains unexercised by the holder thereof shall expire 30 days following the date on which the call notice is given.

The company will grant the agent an option to sell up to that number of additional units equal to 15 per cent of the base offering size, exercisable, by notice in writing to the company, at any time not less than 48 hours prior to the closing date.

The agent will be paid by the company on closing of the offering a cash commission equal to 6 per cent of the gross proceeds of the offering including on any exercise of the overallotment option (reduced to 3 per cent on up to $1-million in units purchased by investors on the company's president's list).

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

The offering will be conducted in all provinces of Canada pursuant to private placement exemptions and in such other jurisdictions as are agreed to by the company and the agent. The offering is expected to close on or about April 3, 2025, and will be subject to regulatory approvals and customary closing conditions, including the listing of the unit shares and warrant shares on the Toronto Stock Exchange. All securities issued pursuant to the offering will have a hold period of four months and one day.

About Freegold Ventures Ltd.

Freegold Ventures is a Toronto Stock Exchange-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.