June 29, 2015 (Vancouver, BC) -- Freegold Ventures Limited (TSX: FVL, Frankfurt: FR4N) ("Freegold", the Company) today announced that all matters set out in the management information circular dated May 20, 2015 for the 2015 Annual General Meeting of Shareholders held on June 29, 2015 (the "Meeting") were approved by the shareholders. 21,630,692 shares were voted representing 23.8 % of the outstanding shares of the Company.
The following seven nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:
In addition, Freegold shareholders also voted in favour of ratifying and approving:
Davidson & Company LLP as the Company's auditors with 21,630,692 total votes cast "For" and 1,541 total votes "Withheld"; and
the Company's rolling stock option plan (the "Option Plan") whereby the Company is authorized to grant stock options of up to 10% of its issued and outstanding shares, from time to time and all unallocated entitlements issuable under the Option Plan were approved until June 29, 2018 with 21,393,570 (98.90%) total votes cast "For" and 238,663 (1.1%) total votes "Against";
Each of the matters voted upon at the Meeting is discussed in detail in the Company's Information Circular dated May 20, 2015 which is filed under the Company's profile at www.sedar.com.
At the first meeting of the newly constituted Board of Directors held immediately after the Meeting, David Knight was re-appointed as Chairman of the Board, and the following individuals were re-appointed as officers of the Company:
Kristina Walcott, President & Chief Executive Officer, Gordon Steblin, Chief Financial Officer, Alvin Jackson, Vice President, Exploration & Development, and Taryn Downing, Corporate Secretary.
The Board of Directors appointed Gary Moore (Chair), Andrew Partington and David Knight as the audit committee and David Knight (Chair), Garnet Dawson, and Gary Moore as the compensation and corporate governance committee.
Freegold's Board would like to thank our shareholders for their continued support.
About Freegold Ventures Limited
Freegold is a TSX listed company focused on the exploration projects in Alaska. Its flagship property is the Golden Summit property located near Fairbanks, Alaska. Road accessible, close to industrial strength power and with an experienced labour force, the Golden Summit project represents an excellent low risk development project in Freegold. The Golden Summit Property hosts an indicated NI 43-101 resource of 79,800,000 tonnes averaging 0.66 grams/tonne gold for a total of 1,683,000 ounces and an inferred resource of 248,060,000 tonnes averaging 0.61 grams/tonne gold for a total of 4,841,000 ounces using a 0.30 gram/tonne gold cut-off grade. The resource estimate was completed by Giroux Consultants Ltd. In addition Freegold holds long term lease on the Shorty Creek Copper --Gold, Copper Molybdenum Project.
For further information:
Kristina Walcott-President and CEO
Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures, exploration programs and the potential for the discovery of high grade resources. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs