Freegold Provides an Update on its 2026 Plans

Executive Summary

• Freegold announced a $50 million equity raise completed in January 2026, providing a strong treasury to fund 2026 activities.
• Updated July 2025 mineral resource estimate shows Indicated resources of 17.2 Moz Au at 1.24 g/t (42% increase) and Inferred resources of 11.9 Moz Au at 1.04 g/t.
• The company outlined a 50,000‑metre drilling program for early 2026 targeting the Dolphin/Cleary/WOW zones and the newly discovered Tamarack Zone, with a Pre‑Feasibility Study slated for completion by early 2027.

Key Details

• Equity Financing: $50 M raised from >20 institutional investors, including continued support from Eric Sprott; strengthens balance sheet for 2026 exploration and development.
• Resource Update (July 2025):
• Indicated Primary Mineral Resource – 17.2 Moz Au at 1.24 g/t (42% ↑ ounces, 15% ↑ grade vs. Sep‑2024).
• Inferred Primary Mineral Resource – 11.9 Moz Au at 1.04 g/t (11% ↑ ounces).
• Cut‑off grade unchanged at 0.50 g/t Au.
• 2025 Drilling Activity: >39,000 m completed; 63 holes drilled in mid‑December 2025, with analytical work ongoing.
• 2026 Drilling Program (Feb 2026 start): Planned 50,000 m targeting central Dolphin/Cleary/WOW zones and Tamarack Zone; aims to define higher‑grade corridors and potential starter pit.
• Metallurgical Testing:
• Recoveries >90% achieved using BIOX®, POX, Albion Process™ and GlassLock Process™ on ~4% mass flotation concentrate.
• Pilot plant processed >1.5 t composite material, producing gravity and cleaner flotation concentrates for further testing.
• Development Strategy: Evaluation of staged development options to minimize initial capex; focus on higher‑grade corridors, strip‑ratio reduction, and optimal cut‑off grade.
• Pre‑Feasibility Study (PFS): Targeted completion by early 2027; environmental baseline work, groundwater monitoring, and power infrastructure studies underway to support permitting.
• Environmental & Social Initiatives: Baseline groundwater/wetland studies, cultural resource assessments, wildlife habitat monitoring, electrification of camp planned for early spring 2026.
• Conference Appearances (Jan‑Mar 2026): AMEBC (Vancouver), BMO Global Metals Conference (Florida), PDAC (Toronto).

Notable Quotes

• “With a strong treasury, Freegold is well‑positioned to advance the Golden Summit project in 2026 and will focus on several key initiatives…” – Kristina Walcott, President & CEO.