Eric Sprott Announces Changes to His Holdings in Freegold Ventures Limited

Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 770,000 common shares (Shares) of Freegold Ventures Limited., over the Toronto Stock Exchange (representing approximately 0.2% of the outstanding shares on non-diluted basis) at an average price of approximately $0.53 per share for aggregate consideration of approximately $408,100.

The acquired Shares were purchased in reliance on the normal course purchase exemption from the formal take-over bid requirements set out in Section 4.1 of National Instrument 62-104 – Take-Over Bids and Issuer Bids (NI 62-104). Such Shares do not represent more than 5% of the outstanding Shares, and the aggregate number of Shares acquired in reliance on this exemption with any joint actors within the last 12 months does not exceed 5% of the Shares outstanding at the beginning of the 12-month period. The Shares trade on the Toronto Stock Exchange and the value of the consideration paid for

the acquired Shares was not in excess of the market price at the date of acquisition, as determined in accordance with section 1.11 of NI 62-104, plus reasonable brokerage fees or commissions actually paid.

Prior to the acquisition of Shares, Mr. Sprott beneficially owned 123,149,556 Shares and 10,250,000 Warrants representing approximately 27.6% of the outstanding Shares on a non-diluted basis and approximately 29.2% of the outstanding Shares on a partially diluted basis assuming the exercise of such Warrants. As a result of the acquisition of Shares, Mr. Sprott now beneficially owns 123,919,556 Shares and 10,250,000 Warrants representing approximately 27.7% of the outstanding Shares on a non-diluted basis and approximately 29.4% on a partially diluted basis assuming the exercise of such Warrants. The acquisition resulted in an increase in holdings, on a partially diluted basis, of approximately 2.1% since the date of the last filing of an early warning report.

The Shares were acquired for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

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