Freegold Ventures Ltd.

Published : April 26th, 2007

Drilling Intersects New Golden Summit Vein -- 23.4 g/t Au over 6 feet

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Keywords :   Freegold | Gold | Idaho |

Freegold Ventures Limited
TSX: ITF    OTCBB: FGOVF   FRANKFURT: FR4   www.freegoldventures.com
News Release

April 26, 2007

Freegold Drilling Intersects New Golden Summit Vein -- 23.4 g/t Au over 6 feet

April 26, 2007 (Vancouver, BC) -- Freegold Ventures Limited (the "Company") is pleased to provide assay results from the first two fences drilled under the Phase 2, 20,000' drill program currently underway at the Company's Golden Summit project outside Fairbanks, Alaska. As with Fence 1 (Phase 1) which outlined open-ended bulk-tonnage mineralization over surface widths of 640 feet, the current Phase 2 program is employing similar shallow, close-spaced drilling to test for high grade and bulk tonnage mineralization at various locations along the known 5,000' of gold mineralization in the historic Cleary Hill mine area.

Results from the Phase 2 drilling (Fences 2 and 3) have identified two new areas of bulk tonnage mineralization east and west of Fence 1, as well as two new veins in the hanging wall of the main Cleary Hill structure (23.4 g/t over 6 feet, and 12.6 g/t over 3 feet) 

Fence 2, located 700 feet east of Fence 1, consisted of three NW-SE oriented lines of 10 holes (lines 15 feet apart, holes 20 feet apart, with the middle line offset by 10 feet) used to test the gold mineralization and grade variability over a shorter 200 foot wide section along the Cleary Hill eastern extension. A map showing the locations of these holes can be seen by clicking on the image below. 
Holes 94 to 104 (line 1) and 114 to 123 (line 3) were all drilled to a vertical depth of 54 feet, with holes 104-103 (line 2) alternating between 54 and 78 feet in depth. The highest-grade hole was 103 (1.17 g/tonne over 54 feet), located at the southern end of line 1, which itself averaged 0.4 g/t over the 200 foot width tested. Significant intercepts from Fence 2 include: 

Click on map to view larger image

Fence 3, located 200 feet to the west of Fence 1, tested the mineralization over a total width of 1,025 feet with a single N-S oriented line of 41 holes (124 to 164) spaced 25 feet apart and drilled vertically to a depth of 78 feet. The fence successfully intersected the previously known structures, including the high grade Cleary Hill hanging wall vein which assayed 12.6 g/t over 3 feet in hole 154. This zone, which was intersected in the final 3-foot interval of the hole, remains open at depth. Two new mineralized zones were also identified. The first, a high grade structure in the hanging wall of the Cleary Hill structure, intersected in hole 151, graded 7.8 g/t over a 21 feet width, including a 6-foot section grading 23.4 g/t starting at 57 feet in hole 154. The other new mineralization was discovered in the footwall of the Cleary Hill structure in hole 163, which intersected 9 feet averaging 1.68 g/t starting at 66 feet. Additional work is planned using shallow drilling to further define these new discoveries as the strike and dip of these intersections remain open. Significant intercepts from Fence 3 include:

Lower grade mineralization continues to be encountered in between many of the shear zones and veins, and the average grade of these 41 holes over their 78-foot depth and their 1,025 foot width is 0.36 g/tonne, which includes a central area 350 feet in width that averages 0.5 g/tonne. 

Holes in Fence 4 and 5 (single line fences similar to Fence 3), located 500 and 835 feet further to the west of Fence 3, have recently been completed and assay results are pending. 

Drilling is being conducted with an Ingersol-Rand conventional percussion drill. Cuttings are returned up the drill hole with the use of an OEM vacuum drill cuttings collector, and are dropped from a cyclone directly into a sample bag. Samples are collected every three feet, with the drill bit being pulled off the bottom and the hole cleaned at the completion of each sample interval. 

Freegold maintains a geologist and sampler at the drill rig for all drilling to take and log all samples to insure that quality assurance and control procedures are in accordance with 43-101 requirements. One duplicate assay is being conducted in every drill hole and either a blank or a standard is inserted in the sample stream every 10 samples. Alaska Assay Laboratories in Fairbanks, Alaska is being used to analyze the drill cuttings for gold via fire assay analysis plus multi element ICP-AES and ICP-MS analysis using 4 acid digestion. 

The Qualified Person for this release is Michael P. Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited.

About Freegold Ventures Limited

Freegold Ventures Limited is a North American exploration company with a new management team experienced in mine development and production that is actively exploring advanced-stage gold projects in Idaho (Almaden) and Alaska (Golden Summit, Vinasale). Freegold holds a 100% lease interest in the Almaden gold project in Idaho. This large tonnage epithermal gold deposit was the subject of a feasibility study in 1997 calling for the development of a 95,000 oz/year open pit, heap leach mine. Freegold is currently finalizing a 34,000-foot drilling program aimed at further expanding the size of the resource prior to updating the project economics in 2007. Freegold has also discovered new high-grade veins and bulk tonnage shears in surface trenching at its Golden Summit project outside Fairbanks. A 10,000-ton bulk sample collected in the fall of 2006 will be processed in the summer of 2007, and a 25,000-foot drill program to further delineate gold mineralization within the current 1,000-foot wide by 5,000-foot long vein swarm commenced in December. In addition Freegold has recently optioned the Vinasale Gold Deposit in Alaska, from Doyon, Limited. Geophysical, mapping and sampling programs, along with metallurgical test-work will be carried out on the property in 2007.

On behalf of the Board of Directors

"Steve Manz"

Steve Manz

President and C.E.O.

For further information: Investor Relations: 1.800.667.1870 

2303 West 41st Avenue, Vancouver, BC

www.freegoldventures.com

The Toronto Stock Exchange has neither approved nor disapproved the contents of this news release. CUSIP: 45953B107

DISCLAIMER
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.  This email should not be construed as an offer to buy or sell securities of Freegold Ventures Limited.

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Freegold Ventures is a gold producing company based in Canada.

Freegold Ventures holds various exploration projects in Canada.

Its main asset in production is GOLDEN SUMMIT (NEWSBOY) in USA, its main asset in development is ALMADEN in USA and its main exploration properties are GOLDEN SUMMIT in USA and VINASALE, PGM A, DUKE COPPER and ROB - FREEGOLD in Canada.

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Financings of
6/29/2007Closes Private Placement with Rob McEwen and Sprott Asset Ma...
Nominations of
11/5/2007Appoints Manz and Knight as Directors, Medd as Chairman
Project news of
9/16/2008(Rob - Freegold)Continues to Extend High-Grade Mineralization at Rob with 4....
4/28/2008(Golden Summit)In-Fill Drilling Confirming Continuity of Gold Zones in West...
4/23/2008(Golden Summit)Intersects New High Grade Structures (2 m of 54 g/t Gold) an...
3/13/2008(Almaden)Step-Out Drilling Continues to Intersect New Gold/Moly Occur...
3/4/2008(Golden Summit) Commences Systematic Deeper Core Drilling at Golden Summit
2/27/2008(Golden Summit) Commences 40,000 foot Phase 2 Expansion Drill Program at G...
1/30/2008(Almaden)Extends Southern Almaden Gold/Moly Mineralization
11/21/2007(Golden Summit) Golden Summit Drilling Widens Gold Zone to the West
10/29/2007(Tolovana) Drilling Intersects 28.5 g/t Over 9 feet On Golden Summit T...
10/11/2007(Rob - Freegold) Drilling Hits High-Grade Gold at Rob -- 29 g/t Over 4 m
10/4/2007Drilling Intersects 25 g/t Over 9 feet in Further Golden Sum...
9/27/2007(Almaden)Drilling Continues Almaden Expansions -- Phase 2 Drilling Un...
8/30/2007(Rob - Freegold)Completes Initial Drill Program on High-Grade Rob Property T...
7/31/2007(Golden Summit)Drilling Hits 50.2 g/t, 34.8 g/t, and 21.9 g/t Au in Signifi...
6/11/2007Intersects More Gold Bearing Structures in 2,300 Foot Step-o...
6/5/2007(Golden Summit)Drilling (Fence 5) Continues to Extend Gold Mineralization a...
5/31/2007(Almaden)Drilling Continues to Intersect Deeper, Higher-Grade Gold Mi...
5/24/2007(Golden Summit)Drilling Continues to Intersect High Grade Veins at Golden S...
4/26/2007(Golden Summit)Drilling Intersects New Golden Summit Vein -- 23.4 g/t Au ov...
4/10/2007(Grew Creek)Assessing New Grew Creek Models Following Uranium Discovery
Corporate news of
2/23/2009Receives Additional Bridge Loan Extensions
1/14/2009Financing Update
7/25/2008Golden Summit Bulk Sampling article - Minesite.com
10/18/2007BTV-Business Television features Freegold Ventures
9/13/2007Completes Commissioning of Golden Summit Processing Plant
9/6/2007Commences Vinasale Exploration Programs
7/18/2007Completes Construction of 1,200 Ton/Day Portable Gravity Pro...
7/16/2007Receives Final Permits for Commencement of Gold Processing O...
7/11/2007Hits 34.0 g/t and 22.7 g/t at Surface in Golden Summit Fence...
7/9/2007Reports Additional Almaden Holes -- Significant Moly Grades ...
6/18/2007Rob McEwen and Sprott Asset Management to Invest $6.21 milli...
3/29/2007Drilling Delineates Surface Bulk Tonnage Gold Mineralization...
3/6/2007advances Almaden, Looks to Convert Ounces and Skeptics - art...
3/2/2007Options Vinasale Gold Deposit, Alaska
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