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NFR Northern Freegold Resources Ltd

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Share Name Share Symbol Market Type
Northern Freegold Resources Ltd TSXV:NFR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Northern Freegold Announces Management Transition

14/01/2010 4:00pm

Marketwired Canada


Bill Harris, founder of Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is
pleased to announce new management appointments as the company transitions from
exploration to resource expansion. Mr. Harris has been appointed Chairman of the
Board and will retain his COO title. Susan Craig, currently President, will also
assume the CEO duties of the company. This change clarifies who is responsible
for management of Northern Freegold; allows Mr. Harris to play to his strengths
in finding opportunities for the Company, directing on site operations and
future growth; and for Ms. Craig to apply her skills and experience in corporate
management.


In addition, John Anderson has been appointed to the board of Northern Freegold.
Mr. Anderson is an accomplished professional with over 20 years experience in
the financing and development of public companies. Mr. Anderson will continue in
his corporate development role at Northern Freegold where he has been
instrumental in funding the company since its IPO. These appointments take
effect immediately.


Bill Harris, Chairman and COO commented, "I am extremely pleased that Mr.
Anderson will join the board of Northern Freegold and that Ms. Craig has agreed
to take on the role of CEO. Their skills and abilities will be valuable assets
as the company continues to transition from exploration to resource expansion."


Northern Freegold's main focus is on the district scale, road accessible
Freegold Mountain project in the Yukon. An initial inferred 1.08 million ounce
gold resource (67.57 million tonnes @ 0.50 g/t gold with 0.30 g/t gold cutoff)
in the Nucleus Zone was announced in July of 2009. Northern Freegold is
presently updating the 3D geological model in the Nucleus Zone to incorporate
the 44 drill holes from the 2009 drill program and an updated resource will be
released during the first quarter of 2010. Detailed geological mapping and
ground geophysics between the Nucleus and Revenue Zones (a distance of +4 km)
has provided a better understanding and interpretation of the structures
controlling the mineralization within this area. This interpretation, in
conjunction with reinterpretation of an airborne VTEM survey flown over the
entire project, project wide silt sampling and historical geochemical surveys is
defining large scale (kms long) zones of interest across the project. Over the
next few months a strategic assessment of this data to prioritize targets within
these large scale systems will help determine the 2010 program at Freegold
Mountain. To date, only 2% of the Freegold Mountain project has been drilled.


Northern Freegold is a well financed rapidly advancing Canadian-based precious
metals exploration and development company, which brings local expertise and
strong management to focus on the development of economic mineral resources on
the district-scale Freegold Mountain gold and copper project in the Yukon and
the Burro Creek gold and silver property in Arizona.


Northern Freegold Resources Ltd.

On behalf of the Board of Directors

William G. Harris, Chairman & COO

Cautionary Note Regarding Forward-Looking Statements

The information in this press release includes certain "forward-looking
statements". All statements, other than statements of historical fact, included
herein including, without limitation, plans for and intentions with respect to
the company's properties, statements regarding intentions with respect to
obligations due for various projects, strategic alternatives, quantity of
resources or reserves, timing of permitting, construction and production and
other milestones, are forward looking statements. Statements concerning Mineral
Reserves and Mineral Resources are also forward-looking statements in that they
reflect an assessment, based on certain assumptions, of the mineralization that
would be encountered and mining results if the project were developed and mined
in the manner described. Forward-looking statements 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 NFR's expectations include the uncertainties
involving the need for additional financing to explore and develop properties
and availability of financing in the debt and capital markets; uncertainties
involved in the interpretation of drilling results and geological tests and the
estimation of reserves and resources; the need for cooperation of government
agencies and First Nation groups in the exploration, and development of
properties; and the need to obtain permits and governmental approval. NFR's
forward looking statements reflect the beliefs, opinions and projections of
management on the date the statements are made. NFR assumes no obligation to
update the forward looking statements if management's beliefs, opinions,
projections, or other factors should they change.


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