NFR Northern Freegold Resources Ltd

Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce that
they are arranging a private placement financing of up to 6,666,666 Units at a
price of $0.30 and 4,285,714 flow-through common shares at a price of $0.35 for
a total of $3,500,000. Each Unit shall consist of one common non flow-through
share of the Company and one half of a warrant priced at $0.45 for a period of
12 months from the closing date.


The Company will pay finders' fees in connection with the financing. The private
placement is subject to approval by the TSX Venture Exchange. Net proceeds from
the private placement will be applied towards advancement of the Company's Yukon
mineral properties and for general working capital purposes. 


Northern Freegold is a rapidly advancing Canadian-based precious metals
exploration and development company that 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 

Bill Harris, Chairman & COO

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