Freegold Drilling to Focus on Expanding Pogo-Style High-Grade Gold Veins at Rob



    VANCOUVER, March 31 /CNW/ - Freegold Ventures Limited (TSX: ITF, OTCBB:
FGOVF, Frankfurt: FR4) is pleased to announce its 2008 work plans for its 100%
leased Rob property in the interior of Alaska. The program will include ground
geophysics, geologic mapping and additional core drilling to trace and expand
the high-grade gold mineralization intersected in all eight of its core holes
drilled into the Gray Lead vein last summer (including 29.0 g/t over 13 feet
and 20.1 g/t over 13.5 feet), as well as additional mapping, geophysics and
drilling on numerous other targets on strike and parallel to the Gray Lead
vein. The gold-bearing veins encountered to date on the property share many
geological similarities to those currently being mined 20 miles to the west at
the 350,000 to 450,000 oz/year Pogo gold mine, and the numerous untested
targets on the property that contain high-grade gold in surface grab sampling
similar to those which identified the Gray Lead vein, will also be the subject
of the upcoming exploration programs.
    Although Freegold acquired its initial interest in the Rob property in
2002, it was not until last year that the Company conducted its first drilling
program at the property, given the focus that the new management team had
initially given to the more advanced Almaden and Golden Summit properties.
Since the opening of the nearby 5.6 million oz Pogo gold mine in 2006, the
Goodpastor Mining District has received considerable investor attention, most
notably with the consolidation of a 513,000 acre land package through staking
and joint venturing by Goldcorp founder Rob McEwen. This large land package
(subsequently merged into Rubicon Minerals) surrounds the Pogo mine and the
Rob property, and was acquired due to the shared belief that the gold
mineralization at Pogo is not a unique occurrence in the district. Freegold's
initial drilling last year confirmed this to be the case with the intersection
of high-grade gold mineralization in a similar vein hosted within the same
gneissic dome that hosts the mineralization at Pogo.
    The 2008 work, consisting of mapping, ground geophysics and drilling,
will commence following the snow melt in mid to late May and will initially
focus on the Gray Lead vein. Eight holes (1,529 feet) were drilled into Gray
Lead last year from two drill pads that identified the gold mineralized quartz
vein over a strike length of 170 feet (the distance between the 2 drill pads)
and a down dip length of 240 feet (the deepest hole to intercept the vein).
Gold mineralization within the vein (which has a variable true width averaging
in excess of 10 feet) remains open in all directions, and exhibited grades
similar to the initial grab samples taken by Freegold in 2002, 2006 and 2007
(which included 7.4, 9.4, 17.1, 28.8, 20.5, 49.8 and 72.2 g/tonne). Results
from this drilling can be found in the October 11, 2007 news release.
    The initial work at Gray Lead will be mapping and ground-based geophysics
aimed at tracing the vein further along strike followed by an initial 3,000
feet of core drilling which is expected to start at the beginning of July. 
Step-out drilling of 175 feet in both the north and south directions along
strike will test the vein over a strike length in excess of 500 feet. Deeper
holes will also allow the down dip extension of the vein to be tested to a
depth of approximately 400 feet.
    Approximately 2,000 feet of drilling will also be undertaken on the
Michigan prospect. This prospect lies approximately 2 miles to the northeast
of Gray Lead and is situated on strike and on the same mapped geological
structure which hosts Gray Lead. Previous surface mapping has shown that the
Michigan prospect appears to be a series of intrusive hosted mineralized
structures rather than a single vein at this location. This area has never
been drill tested, and previous grab sampling by Freegold in this area has
returned assays of 0, 2.4, 2.9, 6.4, 11.5, 24.3, 29.8, 120.6, 175.1 and 698.9
g/tonne (information concerning these samples can be found in the August 30,
2007 news release.) Drilling is expected to be from three fences approximately
175 feet apart that will test the target to a depth of at least 300 feet.
    Exploration will also be conducted on other target areas on the property
including the Grizzly and Blue Lead veins (which appear to be the same
structure), the Upper and Lower Trench prospects, the Wolverine prospect and
several other areas of mineralization identified by previous exploration work.
As seen below, grab samples from these prospects have also returned excellent
gold grades, and 2008 surface work will be used to guide future drill testing.

    
    -------------------------------------------------------------------------
                          Gold     Gold                        Gold     Gold
                   Year  Grade    Grade                 Year  Grade    Grade
    Prospect    Sampled   (g/t)   (oz/t)   Prospect  Sampled   (g/t)   (oz/t)
    -------------------------------------------------------------------------
    Hilltop        2002    8.7     0.25   Blue Lead     2006   46.7     1.36
    -------------------------------------------------------------------------
    Upper Trench   2002    8.8     0.26   Blue Lead     2006    1.1     0.03
    -------------------------------------------------------------------------
    Lower Trench   2002   15.4     0.45   Blue Lead     2006   19.6     0.57
    -------------------------------------------------------------------------
    Lower Trench   2002   14.4     0.42   Blue Lead     2006    0.2    0.004
    -------------------------------------------------------------------------
    Lower Trench   2002   22.3     0.65     Grizzly     2007   31.8     0.93
    -------------------------------------------------------------------------
    Blue Lead      2006   23.5     0.69
    -------------------------------------------------------------------------
    
    Freegold President and CEO, Steve Manz stated "We have been very
fortunate to have secured the drill rigs we need for our various programs for
this year, and 2008 is expected to be our most active year ever in terms of
the number of drilling programs being undertaken on all of our properties. We
are very excited about the new drilling at Rob in the coming months, and hope
that the high grade grab samples we have previously collected at the other
prospects on this 4 mile long property are as indicative of the high-grade
vein mineralization underneath as they were at Gray Lead. Drilling at Golden
Summit continues to go extremely well, and initial results from this work are
expected shortly".
    Assay results for grab and core samples cited herein were obtained from
samples collected by Avalon Development Corporation, consultants to Freegold,
under the supervision of Curt Freeman, MS., PGeo, Qualified Person as defined
by NI 43-101. Alaska Assay Laboratories in Fairbanks, Alaska was used to
analyze the drill core and grab samples collected in 2006/2007 via fire assay
analysis for gold plus multi element ICP-AES and ICP-MS analysis using 4 acid
digestion. The grab samples in 2002 were submitted to ALS Chemex in Fairbanks,
Alaska (prep) and Vancouver, B.C. (analytical) for fire assay analysis for
gold plus multi element ICP-AES analysis using 4 acid digestion. Given the
high-grade results returned from many of the core fire assays, samples which
returned grades in excess of 1 g/t were re-analysed using the metallic sieve
method. On average, the met screen results were 7.4% higher than those
generated by fire assay, and a simple scatter plot of the data showed a
relatively linear pattern centred on the 1:1 correlation line, suggesting that
there is no predictable nugget effect and that the results can be seen as
reliable.
    The Qualified Person, Michael P. Gross, M.S., P. Geo., VP Exploration,
Freegold Ventures Limited has reviewed and approved the contents of this
release.

    About Freegold Ventures Limited

    Freegold Ventures Limited is a North American exploration and development
company with a management team experienced in mine development and production
that is actively exploring advanced-stage gold projects in Idaho and Alaska.
Freegold holds a 100% lease interest in the Almaden gold project in Idaho.
This large tonnage 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 has recently finalized a 54,700-foot drilling program
aimed at further expanding the size of the resource and is in the process of
generating a new 43-101 resource prior to undertaking new economic evaluations
in 2008. Drilling at depth and to the north and south of the known
mineralization is continuing to identify new extensions to the deposit, and
newly identified open ended areas of molybdenum mineralization continue to be
encountered along with the gold in the northern portions of the deposit.
    Freegold's 40,100-foot drill program has resulted in the discovery of new
high-grade veins and bulk tonnage shear zones on its Golden Summit project
outside Fairbanks, Alaska. Over 7 million ounces of gold has historically been
recovered from Golden Summit which is situated less than 5 miles to the north
of the +7 million ounce Fort Knox Mine. In order to further evaluate the
mineralized zones delineated to date, an on-site seasonal bulk sample
processing plant using a gravity-based concentration was constructed.
Exploration is ongoing as the Company continues to define additional areas of
larger, lower grade mineralization through on-going drilling and stripping.
    Exploration in 2007 included an airborne geophysical survey and surface
sampling program on the 140,000 acre Vinasale property which contains the
Vinasale gold deposit and drilling on the Rob property in Alaska, which
intersected high-grade gold in near surface quartz veins similar in appearance
and grade to those being mined at the nearby 5.6 million ounce Pogo mine.

    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: 45953B107

    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 Toronto
Stock Exchange, British Columbia Securities Commission and the United States
Securities & Exchange Commission.




For further information:

For further information: Kristina Walcott, VP Corporate Development,
(604) 662-7307, jkw@freegoldventures.com


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