VANCOUVER, Feb. 12 /CNW/ - Freegold Ventures Limited (TSX: ITF, OTCBB:
FGOVF, Frankfurt: FR4) is pleased to announce the appointment of
Robert W. Jackson to its Board of Directors. Robert has over 30 years of
experience in the mining and investment banking industries, and has played an
instrumental role in transitioning numerous companies from mineral exploration
to mineral production.
Robert holds the Chartered Financial Analyst(R) designation along with
Masters Degrees in both mining engineering and business administration. During
his investment banking career, Robert gained extensive experience in the areas
of research, corporate finance and royalty financing working for companies
such as Burns Fry Limited, Dundee Securities Corporation, S.G. Warburg Limited
and Midland Walwyn Capital Inc. Robert has raised over $1 billion in debt,
equity and royalty financing through his career, and has been directly
involved in numerous mergers, acquisitions and valuations for both junior and
major mining companies.
Robert is currently the CEO of Tiomin Resources Inc., a TSX listed
company involved in the exploration and development of mineral projects in
Kenya and Peru. Prior to joining Tiomin in 2006, Robert was a founding
Director and the Executive Vice President of Corporate Development of Jaguar
Mining Inc. Robert was instrumental during his four years with the company in
helping bring Jaguar to producer status, and today Jaguar is one of the
fastest growing gold miners in Brazil with a market capitalization in excess
of $720 million. Robert's work within the mining industry also includes
engineering and underground mining work with Falconbridge.
Freegold President and CEO Steve Manz stated "We are very pleased to have
Robert join us, and to be able to add another member with proven company
building skills to our board. Freegold is poised for another exciting year of
growth, and we look forward to having Robert, with his broad experience and
contact base within the mining sector, and his successful track record in deal
execution, help guide us forward."
The foregoing appointment is subject to regulatory approval.
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 has 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.
Freegold has also discovered many new high-grade veins and bulk tonnage shear
zones in its 40,100-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
President and C.E.O.
The TSX has neither approved nor disapproved the contents of this news
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, email@example.com