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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (28405)	3/5/2004 12:05:26 AM
From: E. Charters	Respond to of 39344

people are going to think we are a bit strange. In your case I can see they might have a point. I on the other hand am extremely normal. did you include the nuclear secrets in the white space by stegnography? have to pay attention to details. EC<:-}

To: jrhana who wrote (28405)	3/6/2004 5:11:55 AM
From: VAUGHN	Respond to of 39344

Hello jrhana This from ITF this afternoon: Freegold Ventures Limited - Drilling Underway - Golden Summit Project, Fairbanks, Alaska Friday March 5, 6:29 pm ET Meridian to subscribe for $0.70 Private Placement Toronto Stock Exchange Trade Symbol: ITF OTCBB: FGOVF VANCOUVER, March 5 /CNW/ - Freegold Ventures Limited ("Freegold") is pleased to report that drilling on the Golden Summit Joint Venture with Meridian Gold has commenced. A total of 6 holes (1,500 metres) will be drilled in the initial program. The holes will be collared in the Cleary Hill Mine Area. Meridian has committed to a US$740,000 exploration program for 2004, and has already completed an airborne magnetic survey over all areas of the project. The results of which are currently being interpreted. ADVERTISEMENT Meridian is subscribing for a private placement of 143,000 units at a price of $0.70 per unit, each unit (a "Unit") consisting of one common share and one common share purchase warrant, each whole warrant exercisable for one common share for a period of twelve months from the date of closing at $1.00 per share. Cleary Hill - The Rebirth of a High Grade Prospect Cleary Hill Mine was the largest historic lode gold producer in the Fairbanks Mining District and had an estimated production of 281,000 ounces of gold at average grade of 1.3 opt. The mine last operated in 1942 at which point it was shut down by the War Powers Act. Production from the mine took place over six levels (approx. 400 vertical feet). Exploration of the mine area to date has been limited to several small drill programs undertaken by Freegold some of which targeted and intersected the continuation of the Cleary vein at depth. Additionally, extensive bulk tonnage style mineralization was intersected by Freegold in 2000, when drilling intersected 64 feet grading, 4.74 g/t Au, 2 feet of 86.12 g/t Au, 300 ft of 1.38 g/t at the Currey Zone, located approximately 1,600 feet south of the Cleary Hill Mine. The current drilling is targeting the strike extension of previously intersected high- grade mineralization, which extend the depths of the previous underground mining. ABOUT GOLDEN SUMMIT The Golden Summit Project is an advanced stage exploration gold project northeast of Fairbanks, Alaska. Golden Summit lies 5 miles north of the current producing Fort Knox Mine, Alaska's largest gold producer. Mid Tier gold producer Meridian Gold has recently entered into a JV on the Golden Summit Project. Meridian may earn a 50% interest in Areas A and B of the Golden Summit Project by making exploration expenditures totaling US $5 million, cash payments of US $390,000 over 4 years and investing a minimum of US$300,000 in Freegold through private placements. Meridian may increase its interest to 60% by completing a bankable Feasibility Study, within 2 years of Meridian vesting with 50% interest. In the event that the Feasibility Study identifies a minimum of 500,000 gold ounces, Meridian will pay to Freegold $1.00 per every economic ounce identified and for each additional ounce identified. Once Meridian has completed the Feasibility Study, Meridian may elect within 180 days to increase its interest to 70%. Meridian shall be responsible for arranging all production financing. Upon placing the project into Commercial Production Meridian will have earned a 70% interest. Freegold is the Project Operator. About Freegold Ventures Limited Freegold Ventures is a gold exploration company with a proven track record and a mandate to explore, discover and facilitate the mining of world- class gold deposits. Freegold is focusing its exploration activities on the mineral rich State of Alaska. In addition to the Golden Summit Project, Freegold also holds the Rob Project in the highly prospective Tintina Gold Belt in the Fairbanks Mining District. The Tintina gold belt is emerging as one of North America's most important gold districts and hosts a number of gold deposits throughout the Yukon and Central Alaska, most notably the Fort Knox, Pogo and Brewery Creek deposits. Freegold has recently entered into an option/joint venture on the Rainbow Hill Gold Project, Alaska . In addition to its Alaska gold projects Freegold holds the Union Bay PGE project, a joint venture with Pacific North West Capital Corp, and Lonmin PLC, the world's third largest primary underground producer of platinum group metals. Freegold also holds 100% of the Almaden Gold Deposit, in Idaho, where a 1997 Feasibility Study by Watts, Griffis and McOuat (WGM) indicated a potentially mineable resource of 44,000,000 tons grading 0.021 oz/t gold. The study indicated that 526,800 ounces of gold was recoverable, by open pit mining and heap leach technology. The deposit remains open to the north and south and at depth. The study indicated an IRR of 18.9% at $364 per ounce gold. The Company is actively seeking joint venture partners for its projects and in addition an active acquisition program targeting properties of merit though out North America is underway. The Qualified Person for this release is P. Dasler, M.Sc, P.Geo. On behalf of the Board of Directors "Harry Barr" Harry Barr, Chairman & CEO Nice little corresponding bump in the price too. Good luck. Vaughn