Freegold Continues to Delineate Depth Extensions at Almaden



    
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    -   Drilling intercepts thickest zone of mineralization encountered on
        deposit to date.

    -   Resource grade gold mineralization extending up to 645 feet in depth
        associated with a new structure located 1,700 feet to the north-
        northwest of previously announced drilling.

    -   Resource grades within the central part of the Main Zone continue to
        extend up to 215 feet below the average depth of previous drilling.
    -------------------------------------------------------------------------
    

    TSX: ITF, OTC BB: FGOVF, Frankfurt: FR4
    www.freegoldventures.com

    VANCOUVER, March 14 /CNW/ - Freegold Ventures Limited ("Freegold") is
pleased to provide additional assay results from its 34,000-foot resource
expansion drill program currently in-progress at the Company's 100% controlled
Almaden gold project in southwestern Idaho. Assay results from the latest 20
drill holes continue to confirm significant depth extensions of resource-grade
gold mineralization below the pit bottom contemplated by the Company's 1997
feasibility study. These depth extensions have now been delineated 700 feet
north and 530 feet south of the initial fence of holes reported in the
December 12, 2006 news release, and remain open along strike in both
directions. Drilling within the Main Zone has also identified a new zone of
deeper gold mineralization 1,700 feet north-northwest of the previously
announced holes. Gold grades above the resource cut-off grade used in the
Company's 43-101 report extends to a depth of 645 feet in this area, well
below the 200-foot average depth of the previously designed pit.
    A total of 82 holes totaling 29,199 feet (38 core (13,681 feet) and 44 RC
(15,518 feet)) have been drilled since the program commenced last summer.
Figure 1 shows the collar locations for the holes described in this release.
Holes 664, 659, 656, and 654A were angle holes (not true width), with the
remaining holes vertically oriented in order to test the flat lying
mineralization. Note that the drill hole numbers were established as part of
the original program design, and as a result, holes have not been drilled in
sequential order.
    Five holes in the southern part of the Main Zone were designed for
in-fill drilling and to test for depth extensions. All of the holes
successfully encountered resource grades at nearly double the cutoff grade
used in the 2006 43-101 report, with good widths of resource grade material
extending up to 215 feet below the average depth of previous drilling. Hole
654 in particular encountered resource-grade material to its full vertical
depth of 350 feet. Hole 654 is the southern most hole drilled to this depth,
and mineralization remains open at depth and along the southern strike.

    
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                                                 Gold
    Hole      Azimuth/  From    To   Thickness  Grade
    Number      Angle  (foot) (foot)  (feet)   (oz/ton)  Comments
    -------------------------------------------------------------------------
    664        90/-60     20    265       245    0.027   Crossed main fault
                                                         into footwall at
                                                         roughly 260 feet.
    -------------------------------------------------------------------------
    including             20    130       110    0.050
    -------------------------------------------------------------------------
    659        90/-70     20    120       100    0.025   Lost hole at
                                                         120 feet.
                                                         0.032 oz/ton average
                                                         for bottom 60 feet.
    -------------------------------------------------------------------------
    including             65    120        60    0.032
    -------------------------------------------------------------------------
    656        90/-45     65    375       310    0.016   Confirms depth and
                                                         grade of
                                                         mineralization.
    -------------------------------------------------------------------------
    including            155    285       130    0.025
    -------------------------------------------------------------------------
    654A       90/-45     40    415       375    0.020   Crossed main fault
                                                         in the footwall
                                                         between 430 and to
                                                         450 feet.
    -------------------------------------------------------------------------
    including             80    130        50    0.051
    -------------------------------------------------------------------------
    including            150    255       105    0.031
    -------------------------------------------------------------------------
    654      vertical     15    350       335    0.019   Hole ended in
                                                         mineralization above
                                                         cut-off grade.
    -------------------------------------------------------------------------
    including            125    180        55    0.040
    -------------------------------------------------------------------------
    including            265    300        35    0.045
    -------------------------------------------------------------------------
    

    Four holes (C-48, 668, 662, and 660) were drilled to test the eastern and
western extent of the gold mineralization within the southern part of the Main
Zone. While these holes did not encounter any new zones of mineralization,
they did confirm that certain areas that were previously designated as waste
in the 1997 pit design contain areas that are expected to be above the
internal cut-off of the pit. Some of these significant intersections include:
hole C-48: 0 to 155 feet @ 0.007 oz/ton, hole 668: 115 to 260 feet @ 0.004
oz/ton, hole 662: 45 to 345 feet @ 0.008 oz/ton, including 70 to 85 feet @
0.036 oz/ton, and hole 660: 190 to 240 feet @ 0.013 oz/ton.
    Nine holes drilled across section 38,500 N display a similar profile to
those 700 feet to the south across section 37,800 N that were described in the
previous release dated Dec. 12, 2006. These fences were aimed at generating
additional geological information essential to the ongoing geological modeling
of the deposit, including the further definition of the major north-south
feeder structure recently mapped through the central portion of the Main Zone.
Holes in line 38,500 N continue to confirm the strike and 65-degree westerly
dip of the main N-S fault. The drilling also revealed the presence of a second
and possible a third splay fault striking to the northwest, and dipping to the
southwest. Similar to line 37,500 N, holes in line 38,500 N also display
higher-grade mineralization in the hanging wall of the identified faults with
lower grade mineralization occurring in the footwall rocks, with the grade of
mineralization improving as footwall rocks from one fault become the
hangingwall rocks for another fault further to the east. From west to east
across section 38,500 N, assays are reported below for holes 711, 710, 712,
C-49, 709, C-51, C-52, C-53 and C-54. Significant assay intervals from these
9 holes include:

    
    -------------------------------------------------------------------------
                                       Gold
    Hole       From    To   Thickness  Grade
    Number    (foot) (foot)  (feet)   (oz/ton)  Comments
    -------------------------------------------------------------------------
    711          50    140         90   0.015   Hole lost at 170 feet with no
                                                samples below 140 feet.
    -------------------------------------------------------------------------
    710          30    225        195   0.030   High-grade mineralization
                                                continues to the fault at
                                                roughly 230 feet.
    -------------------------------------------------------------------------
    712          20    150        130   0.039   Hole lost at 150 feet. Last 5
                                                foot intercept assayed
                                                0.05 oz/ton.
    -------------------------------------------------------------------------
    including    55    150         95   0.049
    -------------------------------------------------------------------------
    C-49         30    235        210   0.028   Twin of hole 712 with
                                                excellent correlation.
    -------------------------------------------------------------------------
    including    60    135         75   0.049
    -------------------------------------------------------------------------
    709          95    400        305   0.017   Resource grade material for
                                                200 feet below previous
                                                drilling.
    -------------------------------------------------------------------------
    including   180    285        105   0.032
    -------------------------------------------------------------------------
    C-51         10    450        440   0.016   Resource grade for 250 feet
                                                below previous drilling.
                                                Crosses main NS fault at
                                                roughly 460 feet.
    -------------------------------------------------------------------------
    C-50         45    240        200   0.018   Crosses main NS fault at
                                                roughly 240 feet.
    -------------------------------------------------------------------------
    including   125    185         60   0.034
    -------------------------------------------------------------------------
    C-52         70    150         80   0.015   In footwall of NS fault.
                                                In-fills and confirms grade.
    -------------------------------------------------------------------------
    C-53         30    225        195   0.011   Slightly better than
                                                surrounding holes.
    -------------------------------------------------------------------------
    C-54         65    115         50   0.008   Essentially limits deposit to
                                                the east.
    -------------------------------------------------------------------------
    

    Finally, assays from one vertical hole (C-63) drilled in the northwest
corner of the Main Zone has identified an unexpected fault and breccia zone
extending from near surface to 570 feet where the zone is cut off by a fault.
The drill hole identified a new splay structure striking northwest which
contains a 540-foot interval grading 0.015, the thickest interval of
mineralization seen to date (not true width). From 620 to 630 feet a 10-foot
thick zone of 0.025 oz/ton mineralization was also found. The significance of
the deeper mineralization in this area is still unknown. Additional drilling
is in progress to identify the strike and dip of this fault which will help
identify additional targets that may be tested in the future for deeper
bonanza-grade gold mineralization in the feeder zones.

    
    -------------------------------------------------------------------------
                                       Gold
    Hole       From    To   Thickness  Grade
    Number    (foot) (foot)  (feet)   (oz/ton)  Comments
    -------------------------------------------------------------------------
    C-63         30    570        540   0.015   Longest mineralized interval
                                                drilled to date. Crossed a
                                                fault at 570 feet.
    -------------------------------------------------------------------------
    including    30     50         20   0.027
    -------------------------------------------------------------------------
    including   115    195         80   0.025
    -------------------------------------------------------------------------
    including   490    540         50   0.024   Good grades of mineralization
                                                ending 30 feet above fault.
    -------------------------------------------------------------------------
                620    630         10   0.025   Deepest resource-grade
                                                mineralization located to
                                                date.
    -------------------------------------------------------------------------
    

    Freegold continues to work closely with Mine Development Associates of
Reno, on its next 43-101 compliant resource calculation, which will be
completed following the completion of the current drill program. Diamond drill
core and RC samples are generally analyzed on five-foot intervals. All samples
are shipped to ALS Chemex Laboratories for preraration at their Winnemucca, NV
facility, with the pulps being shipped to their facility in Vancouver, B.C.
for analysis. Gold values are determined using fire assay techniques with AA
finish and multi element analysis using ICP-AES with aqua regia digestion.
    In addition to the ongoing resource expansion drill program, Freegold is
also in the midst of a metallurgical test program aimed at determining the
optimal relationship between gold recovery and heap leach crush size for the
project. Test-work on five size fractions is currently being undertaken by
McClelland Laboratories, which has 38 pilot columns under leach testing a
variety of composites made from the large diameter core and surface bulk
samples collected last summer.

    The Qualified Person for this release is Michael P. Gross, M.S., P. Geo.,
VP Exploration, Freegold Ventures Limited.

    About Freegold Ventures Limited

    Freegold Ventures Limited is a North American exploration company with a
new management team experienced in mine development and production that is
actively exploring advanced-stage gold projects in Idaho (Almaden) and Alaska
(Golden Summit). Freegold holds a 100% lease interest in the Almaden gold
project in Idaho. This large tonnage, disseminated, epithermal gold deposit
was the subject of a feasibility study in 1997 calling for the development of
a 95,000 oz/year open pit, heap leach mine. Freegold is currently in the midst
of a 34,000-foot drilling program aimed at further expanding the size of the
resource prior to updating the feasibility study in 2007. Freegold has also
discovered new high-grade veins in surface trenching at its Golden Summit
project outside Fairbanks. A 10,000 ton bulk sample has recently been
collected that will be processed in the spring of 2007, and a 25,000-foot
drill program to further delineate gold mineralization within the current
1,000 foot wide by 3,500 foot long vein swarm commenced in December. In excess
of 7 million ounces of gold has historically been recovered from the Golden
Summit property, which is located less than 5 miles from the Fort Knox mine,
Alaska's largest gold mine. In addition Freegold has recently optioned the
Vinasale Gold Deposit in Alaska, from Doyon, Limited. Geophysical, mapping and
sampling programs, along with metallurgical test-work will be carried out on
the property in 2007.
    On behalf of the Board of Directors

    "Steve Manz"

    Steve Manz
    President and C.E.O.

    The TSX has neither approved nor disapproved the contents of this news
    release. CUSIP: 356455105

    DISCLAIMER

    This news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with the TSX,
British Columbia Securities Commission and the United States Securities &
Exchange Commission.





For further information:

For further information: Investor Relations: (604) 685-1870,
1-800-667-1870, ir@freegoldventures.com


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