Welcome to FREEGOLD VENTURES LTD -
Since Feb, 2005, things for ITF have changed considerably.
With the new production oriented management team, the institutional and insider ownership level and the new properties, this is a brand new ball game.
The rise in the price of gold now allows deposits of low grade gold to be mined and processed economically.
With the high grade Golden Summit property and the newly acquired Vinasale Gold Deposit, things are much different than they were in 2005. Granted Mr.Barr is still involved in ITF but I would say at this point that is a plus given who he inspired to come on board since then.
This is no longer the same company you were once an investor in.
Freegold Ventures Limited
TSX: ITF OTCBB: FGOVF FRANKFURT: FR4
www.freegoldventures.com
News Release January 11, 2007
Freegold appoints Jeff Woods as Vice President Project Development
PDF
January 11, 2007, (Vancouver, BC) - Freegold Ventures Limited ("Freegold") announces the appointment of Jeffrey L. Woods as the Company's Vice President of Project Development. Mr. Woods is a metallurgical engineer with 23 years of experience in mine development and mineral processing, and has an excellent track record in designing, building and operating gold processing facilities throughout North America.
Highlights from Jeff's career include being part of the commissioning and operating team for the Hycroft-Crofoot gold mine in Nevada. Hycroft is a large tonnage, disseminated gold deposit, similar to Freegold's Almaden deposit. Hycroft produced approximately 1.1 million ounces of gold as an open pit, heap leach mine with average grades comparable to those at Almaden. Jeff also served on the commissioning and operating team of Kennecott's 15,000 ton per day Rawhide open pit, heap leach mine in Nevada and Santa Fe Gold/Newmont's autoclave, flotation and CIL plant expansions at the Lone Tree Mine in Nevada. In addition, Jeff has acted as Senior Metallurgical Engineer or Project Manager for numerous mine feasibility studies, mine developments, project expansions and operations, including the Kennsington gold project in Alaska, a cobalt mine concentrate and hydrometallurgical plant in Idaho, and numerous plant modifications for Newmont.
Jeff has established and run three full scale metallurgical laboratories, and was the founder and President of Woods-Gelati, Inc., a Nevada based environmental and process engineering consulting firm. Most recently, Jeff was a Senior Process Engineer/Project Manager at the Washington Group in Denver, and prior to that a Senior Processing Engineer at Hatch Limited in Vancouver, two of the world's leading minerals engineering firms.
Steve Manz, President and CEO stated, "Jeff's expertise is the perfect complement to our existing development-oriented management team, and his experience in designing and starting up numerous gold mines adds to our collective experience in having previously transitioned a number of companies from gold explorers into producers. Jeff was Hatch's team leader when they undertook a technical review of our Almaden project last year, and we were impressed with his abilities, his project enhancement recommendations, and his enthusiasm for the project. In Jeff's new role with Freegold he will be instrumental in managing our feasibility study update and permitting at Almaden, as well as in helping us advance our Golden Summit project in Alaska, and in the ongoing evaluation of acquisition opportunities."
In conjunction with his appointment, Mr. Woods has been granted 350,000 stock options at an exercise price of $0.50 which shall vest quarterly over a two year period and which have a term of five years, and 400,000 nominal value performance shares which shall vest quarterly over a two year period. The foregoing are subject to regulatory approval.
Harry Barr
Position: Chairman
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Mr. Barr is the Chairman, Founder and Director of Freegold Ventures Limited. Mr. Barr been involved in the mining industry for over 20 years and has extensive background in corporate finance through equity financings and joint ventures with major mining companies. Mr. Barr is also the President and Founder of Pacific North West Capital (Toronto Stock Exchange: PFN) a company involved in the exploration and development of platinum and palladium projects in North America.
Steve Manz
Position: President & CEO
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Mr. Manz, B.A.Sc. (Geological Engineering), MBA, has been involved with the mining sector for the past 17 years, has been instrumental in the creation and refinancing of several North American gold producers, and has successfully raised in excess of $700 million for junior and mid-tier resource companies.
Mr. Manz was the principal financial officer of Royal Oak Mines during its inception. In this capacity, Mr. Manz was directly involved in the acquisition, merger, financing and financial turnaround of several distressed Canadian gold mines which resulted in Royal Oak being a debt-free, cash-flow-positive 300,000 oz/year gold producer at the time of his departure. Subsequently, Mr. Manz became the President and Chief Financial Officer of Atlas Corporation, a NYSE listed gold and industrial minerals company. While with Atlas, Mr. Manz raised US $66 million, which allowed the company to recommence mining at its 50,000 oz/year Nevada gold mine, and funded the acquisition and development of additional mining assets in Nevada and Oregon. Mr. Manz also served as Vice President of Gerald Metals, one of the world's largest metal merchanting companies, where he was responsible for the refining and purchasing of precious metals, the design and implementation of commodity and currency hedging programs, and the arrangement of and participation in project, working capital and bridge loans for mining projects throughout the world.
Michael Gross
Position: VP Exploration
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Mr. Gross (P.Geo.) holds a B.S. in geology, and an M.S. in economic geology. With an excellent track record of finding, building, operating and improving precious metals mines throughout North America, Mr Gross has held senior exploration positions ranging from mine geologist to VP Exploration. In addition Mr. Gross has served as VP Operations for four separate gold and silver producers operating eight mines with aggregate annual production of 350,000 ounces of gold and 8.5 million ounce of silver between them. Mr. Gross's exploration and operating plans have served as the basis for the securing of over $200 million of mine financing.
Highlights from Mr. Gross' career include the operational turnaround of the 5 million ounce per year Lucky Friday silver mine, where as Mine Manager, he was responsible for increasing mill throughput by 85%, ore grade by 21% and productivity by 59%. Based upon this success, he subsequently served as VP Operations of Hecla's Metal Mining Division. As VP Operations of Royal Oak Mines, Mr. Gross was an integral member of the management team that acquired and returned to profitability two 100,000 ounce per year gold mines. Through increasing production and effective cost control, Mr. Gross was able to reduce cash operating costs by 25% (US $97) within the first 15 months of the acquisition. As VP Operations of NYSE-listed Atlas Corporation, Mr. Gross was a key member of the management team that recommenced mining at Atlas's 50,000 ounce per year gold mine. Mr. Gross has also successfully brought several new mines into production. While serving as VP Operations of Exall Resources, his revised feasibility study was instrumental in securing financing for the start-up of a new gold mine, which went from ground breaking to the first gold pour in six months and to positive cash flow within 10 months under his direction.
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