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Gold/Mining/Energy : Int'l Freegold Mineral Development Inc./ITF/VSE -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (272)	4/27/2000 5:34:00 AM
From: Francis R. Biscan Jr.	Respond to of 298

Re: News Release - Wednesday, April 26, 2000 International Freegold Options Significant Platinum Group Metal Projects in Alaska =========================================================================== The Management of International Freegold Mineral Development Inc. ("Freegold") is pleased to announce that it 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% by Ahtna, Inc., one of thirteen Alaska regional Native corporations. Freegold has the exclusive right to explore the property through August 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 ten-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 g Pd and 8.9 g 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, Alaska, 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. Freegold is listed both on the Toronto Stock Exchange and The Canadian Venture Exchange, and has received 20F clearance in the United States. On behalf of the Board of Directors Harry Barr, Chairman & CEO Investor Relations: 1-800-667-1870 The Toronto Stock Exchange and Canadian Venture Exchange have neither approved nor disapproved the contents of this news release. CUSIP: 45953B107 12g3-2b Reg# 82-1225 LISTED: MOODY'S =========================================================================== Copyright (c) 2000 INTL. FREEGOLD MINERAL DEVELOPMENT INC. (ITF) All rights reserved. For more information visit our website at augoldgroup.com or send mailto:info@augoldgroup.com Message sent on Wed Apr 26, 2000 at 5:20:27 PM Pacific Time =========================================================================== Advanced Internet Communication Systems and Services provided by ADNET Communications Inc. Our goal is to facilitate and enhance your communications by providing advanced services and technology. Visit us on the web at adnet-inc.net