Freegold Ventures increases financing to $49.99M

On December 19, 2025, Freegold Ventures announced it has upsized its previously announced brokered private placement from $30 million to approximately $50 million (CAD 49,999,950). The offering consists of 38,461,500 common shares priced at $1.30 per share. Notably, the financing does not include warrants, and the agent's over-allotment option was removed in favor of the larger base offering. The funds are earmarked for a Pre-Feasibility Study (PFS) at the flagship Golden Summit project in Alaska, continued exploration, and general working capital.

This news is highly material and signals strong institutional or high-net-worth demand. Upsizing a financing by 66% within 24 hours of the initial announcement indicates that the $1.30 price point was heavily oversubscribed. - Cost of Capital: Raising $50 million without issuing warrants is an exceptional feat for a junior developer. It prevents future "overhang" and dilution that typically plagues the sector. - De-risking the PFS: The company now has a massive treasury (estimated $70M+ including existing cash) to complete the rigorous engineering and environmental work required for a PFS. - Validation: This follows a year of significant resource expansion (to 29 million ounces total) and metallurgical breakthroughs. The market is clearly beginning to price FVL as a legitimate development play rather than a speculative explorer.

Freegold Ventures is focused on the Golden Summit Project located near Fairbanks, Alaska. - Flagship Project: Golden Summit is an advanced-stage gold project proximal to Kinross Gold’s Fort Knox mine. - Scale: The July 2025 Mineral Resource Estimate (MRE) defined 17.2 Moz Indicated (1.24 g/t Au) and 11.9 Moz Inferred (1.04 g/t Au). - Metallurgy: Recent tests show >90% recovery using sulfide oxidation methods (POX, BIOX, Albion), addressing previous concerns regarding the refractory nature of the deeper primary ore.