Northern Freegold Resources Ltd.
TSX VENTURE : NFR

Northern Freegold Resources Ltd.

September 14, 2007 23:27 ET

Northern Freegold Confirms No Exposure to Asset Backed Commercial Paper and Announces Intention to Extend Warrant Expiry Dates

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2007) - Northern Freegold Resources Ltd. (TSX VENTURE:NFR) confirms that the Company has no exposure to asset-backed commercial paper. All of Northern Freegold's funds are placed with Toronto Dominion Bank.

Northern Freegold also announces that it intends to apply to the TSX Venture Exchange to extend the warrant expiry dates of the following common share purchase warrants issued in connection with private placements completed by the Company on March 30, 2006, April 1, 2006 and April 11, 2006:

- 1,575,500 warrants issued as part of the issuance of units, each warrant originally exercisable for half of one common share at a price of $0.75 per share until September 30, 2007; October 1, 2007 and October 11, 2007 respectively;

Application will be made to the TSX Venture Exchange to extend the expiry dates of all of the warrants for an additional 4 months, or January 30, 2008; February 1, 2008 and February 11, 2008 respectively. The remaining attributes of the warrants, including the respective exercise prices, will remain the same.

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