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: 

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:

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