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Northern Freegold Resources Ltd.
August 10, 2009
Dear Investors,
Having just returned from a trip to Freegold Mountain, I am pleased to provide you an update on the 12,000m 2009 drill program and to discuss the recently released (July 27, 2009) initial resource calculations for the Nucleus Zone and Tinta Zones. The Yukon has been blessed with a wonderful summer, and with ~40 people in camp, and 2 Diamond drills, we are more than half way through the 2009 drill program.
Northern Freegold Reports Initial One Million Ounce Gold Resource at Nucleus Zone at Freegold Mountain ( July 27, 2009 news release)
Nucleus Zone Highlights
� NI 43-101 Inferred Resource of 1,082,000 contained ounces of gold within 67.57 million tonnes @ 0.50 g/t gold (0.3 g/t cutoff) within Nucleus Zone
� Nucleus Zone open to expansion in all directions and to depth
� 3-D geologic modeling has identified important new east-west structures associated with mineralization in the Nucleus Zone, with significant implications for expansion of gold mineralization to the Revenue Zone, 4 km to the east
NFR is proud to have over one million ounces in its initial resource at the Nucleus Zone. This is a great starting point for NFR, especially on a deposit which remains open in all directions and to depth. Responses to the resource include:
Dundee Securities Watch List - "Initial Resource Forms Nucleus for Further Exploration"
To read recent analyst's articles by Dundee following their site visit, click on Hitting High Grades in the Yukon and Initial Resource Forms a Nucleus for Further Exploration
Northern Miner - "Northern Freegold has 1 Million Oz. at Freegold Mountain".To read full report, click on Northern Miner article
The revelation of the east-west trend is a major breakthrough which shows that Nucleus is part of a larger system with potential for a major deposit. The figure below shows the outline of the Nucleus Resource in context of its position relative to the Revenue Zone. Please note that there are higher grade geochemical anomalies in the Revenue Zone which have not been tested.
A video of the Nucleus Zone showing the resource outline and drill holes it is based on can be viewed at the Company's website at www.northernfreegold.com. Click on the red button labeled "View Nucleus Resource Video".
What's Next for Nucleus?
To further test and potentially expand the initial inferred resource, Northern Freegold is more than halfway through a 12,000 m Diamond drill program designed to:
- Confirm the new geological model which could potentially lead to discovery of additional higher grade mineralization
- Target lateral and vertical extensions of high grade mineralization intersected in 2008 (such as Hole GR08-099 which intersected 9.36 m of 70.19 g/t gold including 1.27m of 410.00 g/t gold - news release January 14, 2009)
- Step out to follow up on geochemical and/or geophysical anomalies and targets generated by previous/ongoing drilling to extend Nucleus Zone mineralization which is open in all directions and to depth.
The first drillholes of the 2009 program (red dots on map) designed to test the higher grade east-west component of gold mineralization, have confirmed the model and expanded the size and continuity of structures controlling the higher grade gold mineralization (separate blobs have been joined together to form tabular bodies).
The green dots on the map are Rotary Air Blast (RAB) Drillholes. This drill has a quick turnaround on results and is used to test targets that can be followed up with the Diamond drill. All the RAB holes are outside the current surface projection of the resource (white hatched area on map).
The first results from this year's program will be released when a group of holes in the same area are ready to release. A steady flow of news will continue as results from the drilling are released from late summer to winter as they are received and interpreted.
Over the winter NFR will update the geological model in preparation for a new resource calculation.
Tinta Zone Highlights (from July 27, 2009 release)
� NI 43-101 Inferred Resource of 70,000 contained ounces of gold, 2,010,000 ounces of silver, 8,000,000 lbs of copper, 25,700,000 lbs of lead and 42,800,000 lbs of zinc within 1,390,000 tonnes at 1.62 g/t gold (0.3 g/t cutoff), 44.93 g/t silver, 0.26% copper, 0.84% lead, 1.04% zinc within Tinta Zone
� Tinta Zone vein system remains open along strike and to depth
What's next for Tinta?
Tinta is a great asset. NFR may revisit when assessing project wide potential but the best allocation of spending this year was to expand Nucleus and explore the connection to Revenue.
It is important to note that NFR has only drill tested 2% of the district scale 166 square km Freegold Mountain Package, and there are many additional targets and zones that warrant follow up.
Most Recently in the News
Northern Freegold Resources is continuing to expand its shareholder base by creating awareness of NFR's past success and future opportunities. Recently NFR attended the Cambridge House and AGORA Financial conferences in Vancouver.
Canaccord Adam's analyst Wendell Zerb was also at site and NFR was featured in his report entitled "Yukon Gold".
Brien Lundin also provided positive comments on NFR in his August edition of his Gold Newsletter. Link forthcoming on NFR website.
NFR was also the "Site Profile" story in the Yukon Government "From the Trenches" Fall 2009 publication. To see the entire article, click on From the Trenches.
On behalf of the board and senior management, I would like to thank investors for their continued interest and support of Northern Freegold Resources.
Northern Freegold Resources Ltd.
On behalf of the Board of Directors
Signed "Susan P. Craig"
Susan P. Craig, P.. Geo.
President
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