Freegold Ventures Limited, Vancouver, BC, TSX :ITF, OTCBB: FGOVF, is a North American exploration and development company with a management team experienced in mine development and production and a track-record in transitioning exploration companies into gold producers.

Current projects include: Almaden, Golden Summit, Rob and Vinasale.

Almaden was the subject of a 1997 feasibility study which called for the development of a 95,000 oz per year, open pit, heap leach gold deposit. Freegold is currently completing a new 43-101 resource following the completion of a 54,700-foot drill program, which identified extensions to the known gold mineralization, as well as open-ended areas of molybdenum mineralization.

On the Golden Summit Project in Alaska, exploration is continuing to discover new high-grade veins and bulk tonnage shear zones. Evaluation and expansion of the mineralized zones is underway though closely spaced shallow drilling, core drilling and bulk sampling using a 1,200-ton per day gravity concentration plant.

Exploration continued in 2008 at Freegold's Rob project where drilling continued to insect high-grade gold mineralization. Exploration was also undertaken on the Vinasale Gold deposit in an effort to expand the known 920,000 historical gold resource (not 43-101 compliant).

Golden Summit, Alaska

Historically over 6.75 million ounces have been recovered from streams that drain the Golden Summit project and an additional 500,000 ounces of lode gold were recovered from past producing mines on the Golden Summit project. Freegold's 7-mile wide property is located less than 5 miles from the 330,000 oz per year Fort Knox gold mine, outside Fairbanks, Alaska.

Exploration, on the property over the past two years, has identified multiple bulk-mineable shear zones similar in size and grade to those being mined at nearby Fort Knox. In addition to the bulk tonnage zones numerous veins and shear zones grading +1oz/ton gold over significant widths were discovered. In September 2007, Freegold took its first steps in transitioning the Company from explorer to producer with the commissioning of a 1,200-ton per day processing plant. Designed to process the high-grade surface veins identified on the property, the plant consists of a mobile crushing facility and three-stage gravity circuit.

The plant has been fully permitted to process up to 103,000 tons/year of material.

Exploration in 2008 is continuing the open-ended 5,000-foot long mineralized zone within the central part of the property with additional drilling and bulk sampling. In September 2008, Freegold

Almaden Project, Idaho

Located 12 miles east of Weiser, Idaho, Almaden is a 100% controlled large tonnage, low grade deposit that was the subject of a positive feasibility study in 1997 which called for the development of a 95,000 oz/year open pit, heap leach mine. Phase 1 of Freegold's drilling commenced in 2006 and consisted of 104 holes (41 core holes (17,774 feet) and 63 RC holes (23,040 feet)). Aimed at further delineating and expanding the known resource prior to the updating of the previous economic studies, the drilling successfully discovered numerous lateral and depth extensions to the deposit, many of which are still open.

Deeper drilling within the central part of the Main Zone consistently identified resource-grade mineralization up to 250 feet below the 200 foot depth of the historical drilling in this area. This drilling also identified some of the highest grade intercepts to date (e.g. 45 feet @ 0.09 oz/ton (3.02 g/t), 115 feet @ 0.05 oz/ton (1.73 g/t), and 105 feet @ 0.049 oz/ton (1.69 g/t) -- see press releases for 43-101 related disclosures).

Rob Project, Alaska

2008 Drilling

In addition to further tracing the Grey Lead vein along surface, prospecting and sampling in the Grey Lead area has also identified two parallel gold-bearing veins to the east, suggesting that the Grey Lead vein may be one of a series of veins, comparable to the multiple vein system which is currently being mined at the nearby Pogo Mine.

Hole 18 which was the first core hole of the 2008 season intersected a sulphide bearing vein within a sericite altered granodiorite, and had an approximate true width of 7.9 feet grading 1.81 oz/ton (2.4 m grading 62 g/t), including a higher grade 1.7 foot section grading 5.4 oz/ton (0.5 m grading 184.0 g/t). Assays received to date from the select vein intervals sent for rush analysis are shown below:

Vinasale Project, Alaska

Vinasale is located in central Alaska within the same mineralized trend that hosts the 33 million oz Donlin Creek deposit and the operating Nixon Fork gold mine. Vinasale hosts a historical, non 43-101 compliant resource of 920,000 oz of gold that was delineated in the early 1990's. Freegold's 2007 program was focused on exploring for new targets within the 140,000 acre property. As such Freegold flew an airborne geophysical survey over the entire 140,000 acre block in 2007 in addition to carrying out a mapping a sampling program.

The 2008 program consisted of an IP/resistivity survey to the north and northeast of the known mineralized zone, as limited drilling by previous operators had shown there is potential for other mineralized zones to exist outside of the Central Zone.

Preliminary results suggest that the anomaly associated with the Central Zone, although weaker, continues to the north and north-east where there is thought to be potential to expand the known resources.