Northern Freegold Resources Ltd.
TSX VENTURE : NFR

Northern Freegold Resources Ltd.

October 24, 2007 12:43 ET

Northern Freegold Resources Ltd.: Drill Hole in Nucleus Zone Steps Out 50 m and Returns Longest Mineralized Interval to Date (680 feet of 0.59 g/t Gold)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2007) - Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce that 57 holes totaling 11,428 m (37,484 feet) were drilled at the district scale Freegold Mountain project during the 2007 field season. This release provides additional drill results from 3 holes in the 2007 diamond drill program at the Nucleus zone. Twenty-seven (27) holes totaling 6,313 m (20,705 ft) were drilled within the Nucleus Zone over a period of 3 months. Additional results from all zones will be released as they are received, compiled and interpreted.

Highlights:

- GRD07-50 steps out 50 m to the west of known mineralization in Nucleus Zone and returns 680 feet (207.4 m) of 0.59 g/t Au

- Nucleus Zone continues to return widespread gold mineralization in step-out holes to the west. Copper mineralization correlates with gold values in select holes:

- 207.40 m (680.27 feet) of 0.59 g/t Au in GRD07-50 including 11.40 m (37.39 feet) of 1.36 g/t Au; including 11.90 m (39.03 feet) of 1.25 g/t Au and 0.17% Cu; including 4.60 m (15.09 feet) of 1.70 g/t Au and 0.57% Cu

- 41.08 m (134.74 feet) of 0.61 g/t Au in GRD07-48 including 15.08m (49.46 feet) of 1.05 g/t Au, located 50 m to the south of GRD07-50

- 51.60 m (169.25 feet) of 0.52 g/t Au in GRD07-49 including 19.39 m (63.60 feet) of 0.98 g/t Au, located 50 m to the north of GRD07-50

Nucleus Zone (Partial Results)

The first drill hole of the program (GRD07-41) was released on July 19, 2007 and returned 72.35 m (237.30 feet) of 2.5 g/t Au and 0.14% Cu. These results came from a step out hole 50 m to the east of the known mineralization in the Nucleus Zone. The holes reported in this current news release have extended the mineralization within the Nucleus Zone to the west, as well as to depth. Hole GRD07-50 returned the longest mineralized interval drilled within the Nucleus Zone to date (680 feet of 0.59 g/t gold). Also of significance are long, higher grade intervals (87 feet of 1.07 g/t Au) and long intervals of higher grade gold with associated copper values (39 feet of 1.25 g/t Au and 0.17% Cu) within the 680 foot interval. Future drilling is being planned to further delineate this persistent mineralization which is open to the west and to depth.

A plan map of the 2007 drilling and section including results from hole GRD07-50 can be found at www.northernfreegold.com or by clicking the following link: http://www.ccnmatthews.com/docs/nfr1024.pdf

Results from GRD07-48 through 50 are found in the table below.



--------------------------------------------------------------------------
Hole Length From To Thickness Thickness Au Cu
No. m m M m feet g/t Ppm (%)
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GRD07-48 179.83 54.05 58.37 4.32 9.07 0.64 1,302(0.13)
And 104.87 145.95 41.08 134.74 0.61 (i)
Includes 119.67 134.75 15.08 49.46 1.05 (i)
Includes 125.65 134.75 9.10 29.85 1.18 (i)
Includes 129.65 144.80 15.15 49.69 0.56 1,212 (0.12)
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GRD07-49 228.66 32.00 83.60 51.60 169.25 0.52 (i)
includes 42.81 62.20 19.39 63.60 0.98 (i)
includes 68.10 83.60 15.50 50.84 0.27 1,008 (0.10)
And 133.60 150.80 17.20 56.42 0.57 (i)
Includes 136.60 137.80 1.20 3.94 3.65 (i)
--------------------------------------------------------------------------
GRD07-50 259.15 29.80 237.40 207.40 680.27 0.59 (i)
includes 29.80 41.20 11.40 37.39 1.36 (i)
includes 56.30 83.00 26.70 87.58 1.07 (i)
Includes 99.25 165.7 66.45 217.96 0.57 1,532 (0.15)
Includes 114.10 126.00 11.90 39.03 1.25 1,705 (0.17)
Includes 153.90 158.5 4.60 15.09 1.70 5.667 (0.57)
Includes 179.95 200.00 20.05 65.76 1.04 (i)
Includes 180.95 193.00 12.15 39.85 1.17 1,445 (0.15)
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(i) Cu values less than 1,000 ppm


Mineralized intervals with a length times grade value of less than 2.5 g/t/m are not included in the above table.

Bill Harris, President & CEO, commented, "These step-out holes to the western edge of the Nucleus Zone attest to the persistence of the mineralization in the Nucleus Target. An intercept of almost 700 feet of 0.59 g/t Au and almost 220 feet of 0.15% Cu within this area of the zone is exciting. These results combined with 2006 results and those of previous operators are beginning to show the great potential of the Nucleus Target."

The Freegold Project is situated within the Dawson Range portion of the Tintina Gold Belt, characterized by plutonic rocks of the 100 million year old Cretaceous Dawson Range Batholith and early Jurassic Klotassin Suite metaplutonic rocks intruding metavolcanic and metasedimentary rocks of the Yukon-Tanana Terrane. The region is transected by the west-northwest trending Big Creek Fault, which provides the locus for an over 100 km long well-mineralized belt, with placer gold deposits, porphyry copper-gold, and gold veins and breccias bodies, extending from Mt. Freegold northwesterly to the Casino copper-gold porphyry deposit. The Freegold Project covers a 30 km strike extent of this belt.

The Freegold Mountain Project covers an area in excess of 64 square miles (166 square km) and several road accessible mineralized zones which include historical estimates not compliant with NI-43-101. Historical work on the Freegold Mountain property dating back to 1930 indicates that the property holds significant potential to host an intrusion related gold deposit or bulk-tonnage gold+/-copper porphyry style mineralization (ie Nucleus Zone) such as that seen at Kinross Gold's Fort Knox deposit in Alaska which has produced more than 3 million ounces in the past 10 years and still has a resource of 2.7 million ounces of gold from proven and probable reserves of 159.7 million tonnes grading 0.53 g/t as at Dec. 31, 2006 (www.kinross.com). These reserves have not been verified by the qualified person and the information is not necessarily indicative of the mineralization at Freegold Mountain. The Project also has potential to host other related deposit types such as intrusive hosted polymetallic vein systems (Tinta Hill), epithermal vein systems (Goldy) and skarn deposits (Margarete/Augusta), as well as other porphyry targets (Castle, Com, Nitro, Rage).

Quality Control and Assurance

The holes were drilled by a skid mounted diamond drill with NTW core size (5.6cm/2.2 inches in diameter). All core samples from diamond drilling are split and sent to EcoTech Laboratory in Whitehorse for sample preparation and then to EcoTech Laboratory in Kamloops for analysis. Blanks, commercial standards and duplicate core samples are included in each batch. Gold is analysed on 30 gram pulps by fire assay followed by aqua regia digestion and Atomic Absorption Spectrometry (AAS). Gold values greater than 1000 ppb are reanalysed by gravimetric fire assay. Other elements are analysed by 28 element ICP analysis after aqua regia digestion. Additional check analyses and assays will be carried out by ALS Chemex in North Vancouver. Intervals reported in this release do not necessarily represent true widths of mineralization.

The program is under the direct supervision of Mr. Ron Robertson, P. Geol., hereby identified as the "Qualified Person" under the NI 43-101 requirements. The technical information disclosed in this release has been reviewed and approved by Susan P. Craig, P. Geo.

Northern Freegold is a Canadian-based resource exploration and development company which relies on local expertise and strong management to focus on development of economic reserves on the district-scale Freegold Mountain Project in the Yukon and the Burro Creek Project in Arizona.

Northern Freegold Resources Ltd.

On behalf of the Board of Directors

William (Bill) G. Harris, President and Chief Executive Officer

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Northern Freegold Resources Ltd.
    Bernie Kennedy
    Investor Relations Manager
    1-877-489-4440
    Website: www.northernfreegold.com