Freegold Ventures Limited announced that it has entered into an agreement in connection with a proposed best efforts private placement financing of units for total proceeds of a minimum of CAD 5,000,000 and up to a maximum of CAD 7,500,000 on March 6, 2024. The company will issue a minimum of 12,500,000 units at a price of CAD 0.40 per Unit for a gross proceeds CAD 5,000,000 and up to a maximum of 18,750,000 units at a price of CAD 0.40 per Unit for a gross proceeds CAD 7,500,000. Each Unit will be comprised of one common share and one half of one Common Share purchase warrant.

Each whole Common Share purchase warrant will be exercisable for 2 years from the Closing Date at an exercise price of CAD 0.52 per Common Share. The Offering is expected to close on or about March 26, 2024 and will be subject to regulatory approvals and customary closing conditions, including listing of the Common Shares on the Toronto Stock Exchange. The Agent is entitled, on the Closing Date, to a cash commission equal to 7% of the gross proceeds of the Offering and will receive broker warrants entitling the Agent, from time to time for a period of 2 years from the Closing Date, to acquire that number of Common Shares that is equal to 7% of the number of Units issued pursuant to the Offering, at an exercise price equal to the volume weighted average trading price of the Common Shares on the TSX for the five trading days immediately preceding the date hereof.