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

To: Mr Logic who wrote (205)	4/15/1998 5:27:00 PM
From: Robert Douglas Hickey	Read Replies (1) \| Respond to of 298

Barrick Increases Freegold Ownership to 18.3% By Additional $1 Million Equity Investment The management of International Freegold Mineral Development Inc ("Freegold") is pleased to announce that Barrick Gold Corporation has elected to make a further equity investment in Freegold by exercising warrants to purchase 1,071,428 Freegold shares at a price of $0.95 per share. This is the fourth Barrick investment in Freegold, and follows the recently announced (Feb 27/98) purchase of 1.2 million Freegold shares at $1.25 per share. Barrick can elect to purchase further tranches on or before March 1, 1999 (1.7 million shares at $1.75 for proceeds of $3 million) and March 1, 2000 (1.2 million shares at $2.50 for proceeds of $3 million). Under the terms of the Freegold/Barrick agreement, 95% of the investment proceeds will be directed to exploration of Freegold's +22,000 acre Golden Summit Project. Prior to the most recent equity investment by Barrick, Freegold announced a minimum 30,000 feet of drilling during the 1998 exploration season. High priority drill targets are located within the several extensive gold-in-soil anomalies delineated in 1997. Cleary Hill returned soil values up to 0.08opt gold. An initial drill program at Goose Creek returned results including 160 feet averaging 0.1opt gold. Grab samples taken from the Charles Prospect assay up to 1.9opt gold. International Freegold is an aggressive, growth-oriented mineral exploration and development company focussed on North American gold projects. In addition to the Golden Summit Project, Freegold has a 60% interest in the Almaden Gold Project in western Idaho and the right to earn a 100% interest (subject to a 1.5% retained NSR) in the Vanguard Gold Project, due north of Golden Summit. Freegold management is currently negotiating with several interested parties regarding participation in the exploration of the Vanguard Gold Project. On behalf of the Board of Directors Harry Barr, President Freegold website at augoldgroup.com contains maps of the Golden Summit and Vanguard Projects. Robert Douglas Hickey Manager, Investor Relations