Northern Freegold Resources Ltd.
TSX VENTURE : NFR

Northern Freegold Resources Ltd.

February 10, 2010 09:15 ET

Northern Freegold's Initial Metallurgical Test Results Show Excellent Gold Recoveries From Nucleus Deposit at Freegold Mountain Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2010) - Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce it has received non-optimized initial metallurgical testwork results from the Nucleus gold deposit. The Nucleus deposit has a NI 43-101 compliant inferred resource estimated at 1.08 million contained gold ounces(1). An updated resource will be released during the first quarter of 2010. The deposit is located within the Company's road accessible district scale Freegold Mountain Project in the Yukon.

Highlights:

- Initial results indicate excellent overall gold recovery from the Nucleus deposit material

- Oxidized and non-oxidized samples returned recoveries of 98% gold on a 48 hour cyanidation bottle roll test

- Higher grade sulphide-rich samples recovered 86% gold on a 48 hour cyanidation bottle roll test, which increased to 92% when combined with gravity concentration

- Gold contained in these samples responded very well to extraction by either a combination of gravity concentration and cyanidation or cyanidation alone

NFR commissioned G & T Metallurgical Services to conduct preliminary metallurgical testing for gold recovery on three separate composite samples that are representative of bulk tonnage low grade oxidized and non-oxidized samples, as well as higher grade sulphide-rich material that comprises the Nucleus deposit. Northern Freegold is presently updating the 3D geological model in the Nucleus Zone to incorporate the 44 drill holes from the 2009 drill program and an updated resource will be released during the first quarter of 2010. To date, only 2% of the Freegold Mountain project has been drilled.

The three composite samples from the Nucleus deposit were selected from 33 separate diamond drill holes drilled between 2006 and 2008. The higher grade sulphide-rich composite sample averaged 10.09 g/t gold and was composed of samples from 11 drill holes. The low grade oxidized composite sample averaged 0.59 g/t gold, and was composed of samples from 16 drill holes. The low grade non-oxidized composite sample averaged 0.54 g/t gold and was composed of samples from 20 drill holes.

(1) (67.67 million tonnes @ 0.5 g/t gold with a 0.3 g/t cutoff; see news release dated July 27, 2009).

Commenting on the test results, Bill Harris, NFR's Chairman & COO stated, "Management is very pleased by the results of the initial metallurgical testwork of material from the Nucleus Deposit and NFR will continue to focus on building ounces on the Freegold Mountain Project."

The technical information disclosed in this release has been reviewed and approved by Wade Barnes, P. Geo.

Northern Freegold is a well financed rapidly advancing Canadian-based precious metals exploration and development company, which brings local expertise and strong management to focus on the development of economic mineral resources on the district-scale Freegold Mountain gold and copper project in the Yukon and the Burro Creek gold and silver property in Arizona.

Northern Freegold Resources Ltd.

On behalf of the Board of Directors

Susan Craig President & CEO

Cautionary Note Regarding Forward-Looking Statements

The information in this press release includes certain "forward-looking statements" All statements, other than statements of historical fact, included herein including, without limitation, plans for and intentions with respect to the company's properties, statements regarding intentions with respect to obligations due for various projects, strategic alternatives, quantity of resources or reserves, timing of permitting, construction and production and other milestones, are forward looking statements. Statements concerning Mineral Reserves and Mineral Resources are also forward-looking statements in that they reflect an assessment, based on certain assumptions, of the mineralization that would be encountered and mining results if the project were developed and mined in the manner described. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from NFR's expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies and First Nation groups in the exploration, and development of properties; and the need to obtain permits and governmental approval. NFR's forward looking statements reflect the beliefs, opinions and projections of management on the date the statements are made. NFR assumes no obligation to update the forward looking statements if management's beliefs, opinions, projections, or other factors should they change.

Cautionary Note Regarding Reserve and Resource Estimates

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining and Metallurgy Classification System. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission ("SEC"), and resource and reserve information contained herein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term "resource" does not equate to the term "reserves". Investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "inferred mineral resource" will ever be upgraded to a higher category. The estimation of quantities of resources and reserves is complex, based on significant subjective assumptions and forward-looking information, including assumptions that arise from the evaluation of geological, geophysical, engineering and economic data for a given ore body. This data could change over time as a result of numerous factors, including new information gained from development activities, evolving production history and a reassessment of the viability of production under different economic conditions. Changes in data and/or assumptions could cause reserve estimates to substantially change from period to period. No assurance can be given that the indicated level of mineral will be produced. Actual production could differ from expected production and an adverse change in mineral prices could make a reserve uneconomic to mine. Variations could also occur in actual ore grades and recovery rates from estimates.

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.
    Debbie James
    Investor Relations Manager
    877-893-8757 or 604-893-8757
    www.northernfreegold.com
    or
    RENMARK FINANCIAL COMMUNICATIONS INC.
    Christine Stewart or Dan Symons
    416-644-2020 or 514-939-3989