Freegold Provides 2025 Golden Summit Program Update

Executive Summary

• Freegold Ventures reports continued drilling at Golden Summit with five rigs active, completing 37 holes (~24,000 m) and an additional five holes in progress.
• Infill drilling aims to convert inferred resources (11.9 Moz @ 1.04 g/t Au) into indicated status (currently 17.2 Moz @ 1.24 g/t Au) ahead of the upcoming Pre‑Feasibility Study (PFS).
• Metallurgical testing demonstrates high gold recoveries (>90 %) across three oxidation methods and >95 % recovery in flotation tests, supporting PFS flow‑sheet optimization and pilot‑plant planning.

Key Details

• Drilling Activity
• Total holes to date: 37 (≈24,000 m).
• Additional holes currently drilling: 5 (progress ongoing).
• Program runs through mid‑December 2025; pauses for winter, resumes Feb 2026.

• Assay results pending for a significant number of holes.

• Resource Upgrade Goal

• Infill and geotechnical drilling targeted at upgrading inferred resources to indicated status for inclusion in the PFS.

• Revised NI 43‑101 resource estimate will incorporate 2025 drill data.

• Metallurgical Test Work (BaseMet Labs)

• Master composite sample: >1,500 kg from 12 holes.
• Oxidation methods evaluated:
  • Pressure Oxidation (POX): >92 % total Au recovery.
  • BIOX: >91 % total Au recovery.
  • Albion Process™: >93 % total Au recovery.

• Flotation testing on the composite shows >95 % gold recovery using gravity‑cleaner flotation; sulphide concentrate <5 % of mass.

• Environmental Compliance

• TCLP testing on residues from all oxidation methods and flotation tailings indicates metal leachate levels below regulatory limits.

• Ancillary Project Activities

• Installation of vibrating wire piezometers for groundwater monitoring.
• Surface water sampling, mammal & habitat baseline surveys, cultural resource assessments (including paleontological studies).

• Wetland mapping and mitigation planning; continued geological mapping and target identification.

• Current Resource Statement (per NI 43‑101 cut‑off 0.5 g/t Au, gold price $2,490):

• Indicated Primary Mineral Resource: 17.2 Moz @ 1.24 g/t Au

• Inferred Primary Mineral Resource: 11.9 Moz @ 1.04 g/t Au

• Qualified Person

• Alvin Jackson, P.Geo., Vice President of Exploration and Development (responsible for scientific & technical information).

Notable Quotes

“The ongoing infill drilling and metallurgical optimisation are critical steps toward delivering a robust Pre‑Feasibility Study that will unlock the full potential of Golden Summit.” – Kristina Walcott, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in Freegold’s Annual Information Form (2024).