Freegold Drills 2.94 g/t Au over 58.4m at Golden Summit

Highlights: Dolphin Area – continued infill drilling demonstrates potential for higher grade within the main resource area and at depth – with notable intercepts including:

• 2.41 g/t Au over 18.9m
• 1.46 g/t Au over 88.4m
• 3.09 g/t Au over 40.8m
• 2.94 g/t Au over 58.4m

VANCOUVER, BC, March 10, 2026 /CNW/ - Freegold Ventures Limited ("Freegold") (TSX: FVL) (OTCQX: FGOVF) is pleased to report results from six additional drill holes completed at its Golden Summit project. Of these, three were drilled in the Dolphin area and three in the Cleary area. The results from these holes continue to demonstrate robust continuity of mineralization throughout the resource area.  Notably, the Dolphin area results indicate the potential for higher-grade mineralization within the main resource zone. These results also provide further validation of the current resource model, confirming both its reliability and the potential for further growth at Golden Summit.

Both the already substantial size and exploration potential of the Golden Summit project clearly indicate that multiple development strategies can be pursued. Building on the success of the 2025 program, the 2026 drill program will continue to focus on tightening drill spacing to enhance the grade of the resource estimate prior to the pre-feasibility study (PFS). In addition, geotechnical and supplementary metallurgical test holes will also be drilled. Pilot-scale testing on a sample representative of the Golden Summit deposit is complete, and a flotation concentrate has been produced from a 1,500 kg sample collected from 12 drill holes. This concentrate, which is less than 4% of the original material, will undergo additional testing to refine the preferred oxidation or treatment process and determine the most effective processing methods during the PFS. So far, the prior oxidation test work has been highly successful, showing that total gold recoveries of over 90% are achievable. Tailings from locked-cycle flotation tests using the same flowsheet as the pilot plant have been analyzed for environmental characterization, including Acid Base Accounting (ABA) and Toxicity Characteristic Leaching Procedures (TCLP).  Tailings from the flotation-based flowsheet have been classified as low risk for acid generation due to the removal of sulphur and the presence of significant amounts of calcium carbonate. More specifically, results showed the Neutralization Potential to Acid Generating Potential ratio (NPR) of the flotation tailings was significantly above what is typically classified as non-acid generating. While maximizing recovery and NAV remain the priority, the project's substantial resource base may permit a simpler processing flow sheet, which could lower both upfront capital and operating costs. This option will also be considered.

Two drill rigs are currently in operation, and a third crew is scheduled to arrive later this week. An additional three rigs will be deployed over the next six weeks to accelerate the completion of the drill program

Dolphin Area
Drilled to continue to evaluate zones of higher grade in the central Dolphin Area, Hole GSDL2537 demonstrates strong mineralized continuity as well as increased grade intersecting 2.41 g/t Au over 18.9m as well as 1.46 g/t Au over 88.4m.              

Hole GS2542
Hole GS2542 was strategically drilled in the central portion of the Dolphin area, with the primary objective of evaluating the potential for higher-grade mineralization within the central Dolphin Zone. The results from this drill hole confirm zones of higher-grade mineralization.

Several noteworthy higher-grade intercepts were encountered in hole GS2542. These results again highlight the potential to delineate distinct zones of higher-grade mineralization within the broader resource area. Significant intercepts include:

• 1.70 g/t Au over 48.8 metres
• 3.09 g/t Au over 40.8 metres

The presence of these intervals supports ongoing efforts to define and expand the resource's higher-grade components.

GS2544
Hole GS2544 was drilled vertically in the northwest Dolphin area to evaluate the depth potential towards the northwest section of the main resource.

Results were highly encouraging, intersecting higher gold grades in the northwest portion of the main deposit and to depth. Several higher-grade gold intercepts were identified in the drill core, including:

• 2.94 g/t Au over 21.9 metres
• 2.34 g/t Au over 23.4 metres
• 2.94 g/t Au over 58.4 metres

Based on these promising results, further drilling is planned for the northwest Dolphin area to continue evaluating the resource potential at depth and laterally.

Cleary Area
Three holes were drilled in the Cleary Area. Holes GS2538 and GS2543 were drilled in the north-eastern part of Cleary, aiming to fill the area to the northeast. Hole GS2539 was drilled in the western section of the Cleary area and intersected several zones of higher-grade mineralization, including 1.41 g/t Au over 45.6 m and another 2.02 g/t Au over 15.2 m. There remains significant potential for expansion within the Cleary Area, especially to the southeast and towards the newly discovered Tamarack area, which is located 400 metres to the east.

2025/2026 Exploration Program Objectives
The objective of the current exploration program at Golden Summit is to advance the understanding of the mineralized zones within the project area with a particular emphasis on the western and eastern extensions of the existing resource. A major focus is to identify and delineate higher-grade corridors within the mineralized zones. Locating these corridors is a key priority, as their presence is expected to positively impact the project's economics by potentially increasing the resource grade. The exploration program also includes geotechnical drilling, further metallurgical test work, and additional supporting studies to advance the overall project.  Drilling will target the WOW, Dolphin, and Cleary Hill areas, as well as the recently discovered Tamarack zone. As the season progresses, additional drilling is planned east of the main resource zone. This ongoing work is intended to further expand and refine the resource base, supporting the continued advancement and development of the Golden Summit project. Golden Summit's history of gold occurrences, previous placer production, and its current resource base collectively highlight the project's potential to evolve into a district of its own within an already prolific gold-producing area.

Plan Map and Section 479050E

https://freegoldventures.com/site/assets/files/6287/sn-e479050-dh-geol-with-2531.jpg
https://freegoldventures.com/site/assets/files/6287/nr-2025-drilling-20260309.jpg

Drilling concluded in mid-December with a total of 63 holes completed. Analytical work, including cutting and sampling of the remaining drill holes, is ongoing, with further results to be reported upon validation. 19 holes remain to be reported. Since 2020, Golden Summit has grown into one of North America's largest undeveloped gold resources through targeted drilling campaigns, model improvements, and enhanced understanding of mineralization controls. Positive metallurgical results have advanced the project, with recovery rates exceeding 90% using sulphide-oxidizing techniques, including BIOX^®, POX, and the Albion Process™. The GlassLock Process™ has also been tested, increasing the gold grade in the concentrate and reducing arsenic content, enabling direct-to-smelter sales.

As of July 2025, Golden Summit resources include an Indicated Primary Mineral Resource of 17.2 million ounces at 1.24 g/t Au and an Inferred Primary Mineral Resource of 11.9 million ounces at 1.04 g/t Au, using a 0.5 g/t cut-off grade and a gold price of $2,490. Ongoing cutting, sampling, and analytical work support an updated mineral resource estimate, which will incorporated into the upcoming Pre-Feasibility Study (PFS).

Analytical Program and QA/QC
HQ Core is logged, photographed and cut in half using a diamond saw, and one-half is placed in sealed bags for preparation and subsequent geochemical analysis by ALS's facilities in Vancouver and Thunder Bay. Core samples were delivered to ALS's facility in Vancouver, Canada, where each sample was crushed to 70% passing a 2 mm (Tyler 9 mesh, U.S. Std. No. 10) screen.  A representative ~500 g subsample was obtained by riffle splitting (SPL-32a) and analyzed for gold using ALS method Au-PA01, (Photon Assay) which provides a detection range of 0.03 to 350 ppm, in Thunder Bay. In addition, a subsample was analyzed for multi-element geochemistry using ALS method ME-ICP61 (34-element, four-acid ICP-AES).

A QA/QC program includes laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

Qualified Person and Disclosure
Alvin Jackson, P.Geo., Vice President of Exploration and Development for Freegold, is the Qualified Person responsible for the scientific and technical disclosure in this release.

About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration activities in Alaska.

For further information, contact
Kristina Walcott, President and CEO, 
at 1.604.662.7307 
or jkw@freegoldventures.com.

This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release, include, without limitation, statements regarding advancing the Golden Summit Project and other exploration plans and results of any drill programs, statements regarding the timing for and expected completion of a pre-feasibility study, the results of any environmental initiatives or metallurgical testing and any development, or drilling. In making the forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. See Freegold's Annual Information Form for the year ended December 31, 2024, filed under Freegold's profile at www.sedarplus.com, for a detailed discussion of the risk factors associated with Freegold's operations.

SOURCE Freegold Ventures Limited