February 3, 2011 (Vancouver, BC) - Freegold Ventures Limited (TSX: FVL Frankfurt: FR4N) (“Freegold”) is pleased to announce the appointment of Mr. Alvin W. Jackson, P.Geo. to the position of Vice President Exploration and Development. Mr. Jackson has been a Director of Freegold since March 2010. Mr. Jackson was instrumental in the development of EuroZinc Mining Corporation, which acquired the Aljustrel zinc-lead project and the Neves-Corvo copper mine, both located in southern Portugal. As a result of those acquisitions, EuroZinc grew to a market capitalization of over $1.8 billion before merging with Lundin Mining in 2006. Mr. Jackson has over 40 years experience in mineral exploration and mine development and was directly involved in the exploration and development of two major gold deposits and one porphyry copper deposit, all of which subsequently became producers.
In addition, Freegold is pleased to announce that the Mr. Garnet Dawson, P.Geo. has joined the Freegold Board. Mr. Dawson is presently Vice President, Exploration of Brazilian Gold Corporation and is a registered Professional Geologist (APEGBC) with 28 years of domestic and international exploration experience. He was the former Vice President, Exploration of EuroZinc Mining Corporation before it merged with Lundin Mining in 2006. Prior to joining EuroZinc, he consulted internationally and held a number of positions with Battle Mountain Canada Inc., British Columbia Geological Survey and Esso Minerals Canada Ltd. He holds a Bachelors of Science in Geology from the University of Manitoba and a Master’s of Science in Economic Geology from the University of British Columbia.
Freegold would like to thank Michael Gross, who has until recently, served as Vice President Exploration since March 2006. Mr. Gross will continue to act in a consulting capacity for the Company.
We are extremely pleased to have strengthened our management team and Board of Directors. Freegold has an extensive exploration program planned on our projects in Alaska this year commencing with drilling on its Golden Summit project in mid February. In addition to the drilling program at Golden Summit, NI 43-101 resource calculations are underway on both the Vinasale and Golden Summit projects and are expected to be completed in the near term.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration of gold projects in Alaska. In addition to the Golden Summit project, the company holds a 100% in lease interest in the Rob project near the Pogo gold mine in the Goodpaster Mining District of Alaska and has an exploration agreement with an option to lease the Vinasale project in central Alaska.
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Kristina Walcott-President and CEO
This press release contains forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, anticipated future financing. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include uncertainties relating to the availability and timing of such financing and other factors. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.