Northern Freegold Resources Ltd.

Northern Freegold Resources Ltd.  (NFR) was formed in 2006 on the consolidation of a district scale 200 square kilometer, road accessible land package known as the Freegold Mountain Project located west of Carmacks.  Although NFR has completed significant work on the project, less than 5% of the project has been tested by drilling leaving a considerable area open for further drill exploration.  The project is within a highly prospective belt of rocks known as the Dawson Range, which includes the Whitegold District to the north.

NFR's main focus at Freegold Mountain has been the Nucleus deposit, a near surface potentially open pittable resource open laterally and at depth.  The existing resource estimate tests only the upper reaches of a high chargeability and high conductivity zone identified by the Titan 24 survey completed in 2010. This zone extends over an area 1.5 km wide by 1.5 km long at an approximate depth of 100 to 500 m below surface.

The Nucleus Deposit has a NI 43-101 compliant Indicated resource of 1.4 million ounces AuEq (48.5 million tonnes @ 0.89 g/t AuEq using a 0.4 g/t AuEq cutoff) and an Inferred resource of 0.9 million ounces AuEq (41.45 million tonnes @ 0.67 g/t AuEq using a 0.4 g/t AuEq cutoff). (*Gold equivalent (AuEq) for the Nucleus Resource is calculated based upon prices of US$846/oz for gold, US$14.40/oz for silver, and US$3.31/lb for copper)  Metallurgical test work of both the oxide and sulphide ore types show excellent gold recoveries.

NFR's current focus is the Revenue Zone which extends from the eastern edge of the Nucleus gold deposit, southeast for approximately six kilometers, and spans approximately four kilometers north-south.  The analysis of compiled historical work, the extensive soil anomaly, and geophysics suggests the potential for a large porphyry Au ± Cu ± Ag ± Mo system in the Nucleus and Revenue Zones.  The Revenue Deposit has a newly defined NI 43-101 Inferred Resource of 101 million tonnes of mineralized material containing 1.1 million ounces gold, 10.2 million ounces silver, 287 million pounds of copper, and 90 million pounds of molybdenum grading 0.34 g/t gold, 3.14 g/t silver, 0.13 % copper and 0.04 % molybdenum using a AuEq cut-off grade of 0.5 grams per tonne; this equates to 3.7 million ounces AuEq. (*Gold equivalent (AuEq) for the Revenue Resource is calculated based upon prices of US$1,016/oz for gold, US$15.82/oz for silver, and US$2.95/lb for copper and US$15.82/lb for molybdenum)  Metallurgical test work for the Revenue Deposit was initiated in February, 2012.

NFR plans to continue drilling the Revenue and Nucleus deposits to expand the resources in 2012. Testing of other priority targets holds the potential to discover additional ounces on the property.

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