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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

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To: Al Collard who wrote (10794)	2/13/2003 2:11:08 AM
From: VAUGHN	of 11802

Hello Al *OFF THE WIRE* Freegold Ventures Limited - Drilling to commence at Golden Summit project, Alaska Toronto Stock Exchange Trade Symbol: ITF OTCBB: FGOVF VANCOUVER, Feb. 12 /CNW/ - Freegold Ventures Limited (ITF: TSX) (OTCBB: FGOVF). (Freegold) announces that diamond core drilling is scheduled to begin before the end of the week on its Currey prospect. Previous work on the Golden Summit revealed numerous high-grade zones, in further testing of these high- grade zones a new mineralized package of significant width was discovered, and has been named the Currey Zone. Drilling in this prospective zone in 2000 intersected 64 feet grading 0.143 oz/ton (4.9 gpt) gold in a poly-phase hydrothermal breccia which had not been discovered previously on the project. Follow-up resistivity and trenching programs confirmed that the zone may have the potential to host a significant mineralisation in veins and shear zones not previously tested. The current drill program will be targeted at this newly discovered zone. Phase 1 drilling will consist of approximately 1,500 feet of core in three drill holes designed to determine the dip and true width of the Currey zone. A Phase 2 program slated for the spring and summer will be aimed at defining strike extension and possibly increasing the total width of mineralized package since the trenching work suggested that mineralisation may be even more extensive than indicated in the discovery hole. Numerous other high-grade zones remain to be tested on the project and will be systematically evaluated over the coming months. Drill core will be logged and split in Fairbanks before being shipped directly to XRAL Laboratories' sample preparation facility in Fairbanks. All samples will be analyzed for gold via fire assay techniques plus a multi- element suite via ICP-MS methods. In addition to the Currey Zone several other high-grade targets exist on the property and will be systematically evaluated over the coming months. The Qualified Person for the Project is Curt Freeman, M.Sc Freegold is listed on The Toronto Stock Exchange, trade symbol: ITF and in the United States OTCBB: FGOVF. On behalf of the Board of Directors "Harry Barr" Harry Barr, Chairman & CEO Regards Vaughn

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