Golden Summit's Metallurgical Breakthroughs and Resource Upside: Why Freegold Ventures is a Buy Now

Freegold Ventures (TSX: FVL) is poised to deliver a transformative quarter with its 2025 drill program at the Golden Summit Gold Project, combining high-grade mineralization discoveries with groundbreaking metallurgical advancements. As the company nears the completion of its Q2 resource update and advances toward a Pre-Feasibility Study (PFS), investors are presented with a rare opportunity to capitalize on a project that could redefine its economic potential. Here's why now is the time to act.

Resource Upgrade: Expanding the Horizon of One of North America's Largest Gold Deposits

The Golden Summit project boasts 12 million indicated ounces and 7.7 million inferred ounces at a $1,973/oz gold price (as of September 2024). The 2025 drill program, currently employing three rigs with a fourth coming online, is focused on converting inferred resources to indicated categories, a critical step toward advancing the project toward development.

Recent assays highlight the project's grade consistency and expansion potential:
- In the WOW Zone, hole GS2437 intersected 6.84 g/t Au over 20.6 meters, including a stunning 115.5 g/t Au over 0.8 meters.
- The Cleary Zone delivered 1.84 g/t Au over 61 meters, while the Dolphin Zone returned 6.82 g/t Au over 18.2 meters in GS2432.

By Q2's end, the updated resource estimate is expected to incorporate these results, potentially boosting indicated ounces further. With the deposit remaining open to the west and southwest, exploration of zones like the Saddle (which returned 2.12 g/t Au over 197.3 meters) and historical mine targets like Newsboy Mine suggests the total resource could grow significantly.

Metallurgical Innovation: Unlocking Higher Recoveries and Improved Economics

While resource growth is vital, metallurgical advancements are equally critical to project economics. Freegold is testing cutting-edge methods to optimize gold recovery, including:
- Albion Process™: Achieved a 93% recovery rate in recent trials, surpassing the base case 72% recovery assumed in prior studies. While this method increases processing costs, the higher recovery could offset expenses at current gold prices (~$2,000/oz) and provide a buffer against price declines.
- Comminution Studies: Testing grind size and power consumption to balance recovery rates with operational efficiency. These studies aim to reduce costs while maximizing liberation of gold-bearing minerals.

The PFS, now underway, will evaluate the economic trade-offs of these methods. A successful outcome could lower the project's cutoff grade or increase recoveries, both of which would expand the resource's value.

Why This Matters for Investors

1. Low Discovery Cost: At under $4/ounce, Golden Summit ranks among North America's most cost-efficient gold projects, a stark contrast to peers averaging $10–$15/ounce.
2. Strategic Positioning: Located in Alaska's Tintina gold belt—a region with historic production from mines like Fort Knox—Golden Summit benefits from existing infrastructure and a supportive regulatory environment.
3. Near-Term Catalysts: The Q2 resource update and PFS results are imminent catalysts that could re-rate the stock.

As gold prices rise, projects like Golden Summit with low-cost profiles and high-grade potential typically outperform. Freegold's stock has lagged its peers in recent quarters, offering a buy signal ahead of these upcoming milestones.

Risks and Mitigations

• Metallurgical Uncertainty: While the Albion Process shows promise, scaling it to production requires further validation.
• Operational Delays: Weather and labor challenges in Alaska are risks, though Freegold's on-site camp mitigates disruptions.

These risks are manageable given the project's strong geological foundation and management's track record.

Conclusion: A Rare Combination of Upside and Safety

Freegold Ventures offers a compelling mix of high-grade resource growth, breakthrough metallurgy, and low discovery costs. With catalysts just weeks away and a stock price undervalued relative to its potential, this is a buy now opportunity. Investors should act before the Q2 resource update and PFS results unlock this project's full value.

Final Call to Action:
Golden Summit's advancements position Freegold as a top-tier gold developer. Secure your position ahead of the next phase of this story.

Disclaimer: Always conduct thorough due diligence and consult a financial advisor before making investment decisions.