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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's Initial Metallurgical Test Results Show Excellent Gold Recoveries From Nucleus Deposit at Freegold Mountain

10/02/2010 1:15pm

Marketwired Canada


Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce it has
received non-optimized initial metallurgical testwork results from the Nucleus
gold deposit. The Nucleus deposit has a NI 43-101 compliant inferred resource
estimated at 1.08 million contained gold ounces(1). An updated resource will be
released during the first quarter of 2010. The deposit is located within the
Company's road accessible district scale Freegold Mountain Project in the Yukon.


Highlights:

- Initial results indicate excellent overall gold recovery from the Nucleus
deposit material


- Oxidized and non-oxidized samples returned recoveries of 98% gold on a 48 hour
cyanidation bottle roll test


- Higher grade sulphide-rich samples recovered 86% gold on a 48 hour cyanidation
bottle roll test, which increased to 92% when combined with gravity
concentration


- Gold contained in these samples responded very well to extraction by either a
combination of gravity concentration and cyanidation or cyanidation alone


NFR commissioned G & T Metallurgical Services to conduct preliminary
metallurgical testing for gold recovery on three separate composite samples that
are representative of bulk tonnage low grade oxidized and non-oxidized samples,
as well as higher grade sulphide-rich material that comprises the Nucleus
deposit. 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. To date,
only 2% of the Freegold Mountain project has been drilled.


The three composite samples from the Nucleus deposit were selected from 33
separate diamond drill holes drilled between 2006 and 2008. The higher grade
sulphide-rich composite sample averaged 10.09 g/t gold and was composed of
samples from 11 drill holes. The low grade oxidized composite sample averaged
0.59 g/t gold, and was composed of samples from 16 drill holes. The low grade
non-oxidized composite sample averaged 0.54 g/t gold and was composed of samples
from 20 drill holes.


(1) (67.67 million tonnes @ 0.5 g/t gold with a 0.3 g/t cutoff; see news release
dated July 27, 2009).


Commenting on the test results, Bill Harris, NFR's Chairman & COO stated,
"Management is very pleased by the results of the initial metallurgical testwork
of material from the Nucleus Deposit and NFR will continue to focus on building
ounces on the Freegold Mountain Project."


The technical information disclosed in this release has been reviewed and
approved by Wade Barnes, P. Geo.


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

Susan Craig President & CEO

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.


Cautionary Note Regarding Reserve and Resource Estimates

This press release has been prepared in accordance with the requirements of the
securities laws in effect in Canada, which differ from the requirements of U.S.
securities laws. Unless otherwise indicated, all resource and reserve estimates
included in this press release have been prepared in accordance with National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and
the Canadian Institute of Mining and Metallurgy Classification System. NI 43-101
is a rule developed by the Canadian Securities Administrators which establishes
standards for all public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Canadian standards, including NI
43-101, differ significantly from the requirements of the United States
Securities and Exchange Commission ("SEC"), and resource and reserve information
contained herein may not be comparable to similar information disclosed by U.S.
companies. In particular, and without limiting the generality of the foregoing,
the term "resource" does not equate to the term "reserves". Investors should
also understand that "inferred mineral resources" have a great amount of
uncertainty as to their existence and great uncertainty as to their economic and
legal feasibility. It cannot be assumed that all or any part of an "inferred
mineral resource" will ever be upgraded to a higher category. The estimation of
quantities of resources and reserves is complex, based on significant subjective
assumptions and forward-looking information, including assumptions that arise
from the evaluation of geological, geophysical, engineering and economic data
for a given ore body. This data could change over time as a result of numerous
factors, including new information gained from development activities, evolving
production history and a reassessment of the viability of production under
different economic conditions. Changes in data and/or assumptions could cause
reserve estimates to substantially change from period to period. No assurance
can be given that the indicated level of mineral will be produced. Actual
production could differ from expected production and an adverse change in
mineral prices could make a reserve uneconomic to mine. Variations could also
occur in actual ore grades and recovery rates from estimates.


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