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Gold/Mining/Energy : International Freegold *** Seriously Undervalued??? -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (29)	4/26/2000 6:04:00 PM
From: Just G	Read Replies (1) \| Respond to of 43

International Freegold options metal projects in Alaska International Freegold Mineral Dev Inc ITF Shares issued 29,435,058 Apr 25 close $0.45 Wed 26 Apr 2000 News Release Mr. Harry Barr reports The company has recently signed an exclusive exploration option agreement with Ahtna Minerals Company to acquire a development lease on the Tonsina platinum group metals (PGM) property in south-central Alaska. The Tonsina prospect is located approximately 70 road miles north of Valdez. Existing trails connect the property to the paved Richardson Highway, which sits adjacent to the Trans-Alaska pipeline. The property consists of 108 State of Alaska mining claims and eight State of Alaska prospecting sites covering 8.75 square miles, and an additional area in excess of 36 square miles of native selections owned 100 per cent by Ahtna, Inc., one of 13 Alaska regional native corporations. Freegold has the exclusive right to explore the property through Aug. 15, 2000, and the right to convert its interest to a joint venture agreement to be negotiated by the parties. Freegold is planning to carry out initial exploration of the property beginning in May-June. The Tonsina prospect covers a 10-mile strike length of the Tonsina complex, which consists of ophiolitic mafic and ultramafic rocks along the north margin of the Border Ranges fault zone. Heavy mineral concentrates collected from the property by the U.S. Bureau of Mines returned combined platinum and palladium values up to 21 grams per tonne (11.9 grams Pd and 8.9 grams Pt) along with trace iridium, osmium, rhodium and ruthenium. Anomalous copper, nickel and chromium are spatially associated with some PGM-enriched rocks. No drilling has ever been conducted on the property. The geologic setting of the Tonsina prospect is similar to other recently discovered PGM occurrences in North America which have been identified in terrane not previously believed to have PGM potential. Freegold management believes the potential is high for the discovery of other significant PGM prospects in the region, and is evaluating properties in the area for potential acquisition. Freegold is also expanding its search for PGM properties into other areas of Alaska, and as previously announced is negotiating on properties in the Sudbury mining district of Ontario. Management intends to build a portfolio of PGM properties with strong potential for discovery, and further press releases on acquisition and exploration will follow. As well as the PGM property portfolio, Freegold holds the Golden Summit project near Fairbanks, Ala., which has a long history of placer and lode gold production and excellent exploration potential; and the Almaden Gold project in Idaho, which has a fully completed feasibility study indicating over 500,000 ounces of recoverable gold. Freegold's mission is to enhance shareholder value by maintaining and expanding a strong, diversified precious metals property portfolio. WARNING: The company relies on litigation protection for "forward-looking" statements. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com