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Northern Freegold Establishes New Gold-Copper Resource in the Yukon

|Includes:Northern Freegold Resources Ltd. (NFRGF), WRN
Northern Freegold Resources Ltd. (OTCPK:NFRGF) announced an initial NI 43-101 compliant resource on its Revenue Target Deposit at its 100% owned Freegold Mountain project in the Yukon. The Inferred resource has an estimated 3.7 million gold equivalent ounces (at 1.1 g/t gold equivalent). This is in addition to the Indicated gold equivalent resource estimate of 1.4 million gold equivalent ounces and an Inferred resource estimate of 900,000 gold equivalent ounces at its adjacent Nucleus Zone. Both the new Revenue deposit and the existing Nucleus Zone are open to expansion laterally and at depth.
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The Revenue deposit resource was based on 54 drill holes (10,582 meters) through 2011. The Revenue deposit resource estimate of 101 million tonnes is composed of 1.1 million ounces of gold, 10.2 million ounces of silver, 286.9 million pounds of copper and 89.6 million pounds of molybdenum (grading 0.34 g/t gold, 3.14 g/t silver, 0.13% copper and 0.04% molybdenum using a gold equivalent cut-off grade of 0.5 g/t gold). The initial Inferred resource is at levels near or exceeding the upper range offered in the earlier Target Deposit estimate range. The initial Revenue deposit resource estimate covers only a small portion of the potential 8 kilometer area from the Nucleus Zone to the Revenue/Stoddart gold-copper porphyry. We believe the direction of the project is competitive with the nearby Western Copper and Gold Corporation (NYSEMKT:WRN) Casino deposit.
Stocks: NFRGF, WRN