Freegold Drills 2.08 g/t Au over 62.1 m within 102.3 m of 1.67 g/t Au in Infill Drilling at Golden Summit

Freegold Ventures Limited (FVL) reported infill drill results from its 2026 program at the Golden Summit project in Alaska on July 2, 2026. The company completed more than 25,000 meters of drilling during the program.

Key intercepts included the Dolphin area, which returned 2.08 g/t Au over 62.1 m within 102.3 m @ 1.67 g/t Au, and 0.85 g/t Au over 82.3 m. The Cleary zone returned 0.90 g/t Au over 113.7 m, while the WOW zone returned 1.02 g/t Au over 66.0 m.

Six rigs are currently active at the site. The drilling program aims to strengthen resource model confidence and support a 2027 Pre-Feasibility Study. Metallurgical testwork is ongoing, and groundwater, geotechnical, and environmental baseline studies are advancing.

The company’s resource estimate as of July 2025 included an Indicated resource of 17.2 Moz @ 1.24 g/t Au and an Inferred resource of 11.9 Moz @ 1.04 g/t Au.

Freegold Ventures Limited (FVL) reported drill results that align with its program’s objective to define higher-grade corridors for the Preliminary Feasibility Study (PFS) through infill drilling. The company did not announce any new discoveries or step-out expansions.

The reported intercepts include 2.08 g/t over 62 m and 1.02 g/t over 66 m. These grades are consistent with prior results from the same zones and do not exceed previous high-grade findings, such as 11.5 g/t over 29.5 m reported on 2026-04-01 and 2.94 g/t over 58.4 m on 2026-03-10. The market generally anticipates the deposit to contain broad, lower-grade halos with occasional high-grade shoots.

The project’s value remains tied to the upcoming PFS, which will establish capital costs, operating costs, and overall economics.

Freegold Ventures Limited’s stock has been in a persistent downtrend, falling from $1.82 in late January 2026 to $0.96. This trajectory suggests the market has not rewarded a series of positive drill results, and the press release is unlikely to materially reverse that trend.

Freegold Ventures Limited is a gold exploration and development company listed on the TSX. Its sole material asset is the 100%-owned Golden Summit Project in the Fairbanks district of Alaska, located approximately 6 km from Kinross’s Fort Knox mine. The project hosts a large, bulk-tonnage gold deposit. As of July 2025, the pit-constrained resource (0.5 g/t cut-off, $2,490/oz gold) contains 17.2 Moz indicated (432 Mt @ 1.24 g/t Au) and 11.9 Moz inferred (358 Mt @ 1.04 g/t Au). No mineral reserves have been declared.

The deposit is open at depth and along strike. Recently, a new Tamarack zone was discovered east of Cleary, extending the mineralized trend. The company is advancing the project toward a Pre-Feasibility Study planned for early 2027. Work includes infill drilling to upgrade resources, metallurgical testwork (multiple sulphide-oxidation routes with >90% recoveries), and environmental baseline studies.

The jurisdiction is mining-friendly Alaska, although no permits for construction have been filed yet. The project area has existing infrastructure and access to power, but development capex is expected to be substantial given the scale.