Freegold Appoints Manz and Knight as Directors, Medd as Chairman

    VANCOUVER, Nov. 5 /CNW/ - Freegold Ventures Limited (TSX: ITF, OTCBB:
FGOVF, Frankfurt: FR4) is pleased to announce the appointment of Mr. Steve
Manz and Mr. David Knight to the Freegold Board of Directors following the
resignation of Mr. Harry Barr as Chairman and director, and the recent passing
away of board member Mr. Bernard Barlin. Freegold also announces the
appointment of Morris Medd, a current director of the company, as its new
    Steve Manz has been the President and CEO of Freegold over the past two
years and has been instrumental in assembling a senior exploration and mine
development team with an excellent track record in taking companies to
production, in the refinancing of the Company, and in helping guide the
Company through its recent period of rapid growth.
    David Knight is a partner with the law firm of Macleod Dixon LLP, who
brings with him over 25 years experience in securities and mining law. David's
expertise is in the areas of public and private financing, mergers and
acquisitions, corporate governance and regulatory compliance, and he
represents both issuers and investment dealers on a regular basis. David's
representation of numerous clients on property acquisitions and development,
and his experience in closing large mining transactions will be of great
assistance in helping Freegold continue to grow through in-house project
developments and on-going acquisitions. David has been recognized as a
recommended lawyer in the area of mining law by the LEXPERT Legal Directory,
and has been designated as a "Best Lawyer in Canada" for 2007 in the area of
Natural Resources Law.
    Morris Medd has been a director of Freegold since September 2006 and
brings over 40 years of hands on experience in company building and mine
development and contracting to his new position as Freegold Chairman. Morris
started his career with the Redpath Group, a world leader in shaft sinking,
underground mine development and contract mining, as a miner. Over his 30
years with the company he gained a broad range of expertise through his
escalating positions as project manager, group contract manager, Senior Vice
President of Operations, and finally as President of the worldwide Redpath
Group of Companies, a position he held for five years. Mr. Medd is also a
former Director of the Ontario Mining Association, and is credited with the
establishment of a number of new and innovative mine development techniques.

    About Freegold Ventures Limited

    Freegold Ventures Limited is a North American exploration and development
company with a new 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 is currently finalizing a 41,000-foot drilling
program aimed at further expanding the size of the resource prior to
undertaking new economic evaluations in 2007. Drilling at depth and to the
north and south of the known mineralization is continuing to identify new
extensions to the deposit. Freegold is also continuing to discover new
high-grade veins and bulk tonnage shear zones in its 40,000-foot drill program
at its Golden Summit project outside Fairbanks, Alaska. Gold production from
the processing of bulk sampled material has commenced, and in addition to
on-going bulk sampling of additional areas found to contain high grade surface
mineralization, the Company continues to define additional areas of larger,
lower grade mineralization through on-going drilling and stripping.
Exploration has also commenced on the Vinasale property in Alaska, where
geophysical and surface sampling programs have recently been completed, and on
the Rob property in Alaska, where recent drilling has intersected high-grade
gold (29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet) in Pogo-style, near
surface quartz veins.

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

    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


    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,

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