NFR Northern Freegold Resources Ltd

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Northern Freegold Resources Ltd. (TSX VENTURE:NFR) is pleased to announce that
it has completed its previously announced financing, raising total gross
proceeds of $8,378,562. The financing was initially announced at $8.0 million
and was increased due to demand. The closing occurred in two tranches of $6
million and $2,378,562 respectively. A total of 20 million units were issued in
the first tranche. The second tranche was amended to include an additional
$200,000, resulting in a total of 7,928,540 units being issued in the second
tranche. Finders received $3,150.00 and 10,500 finders' warrants in connection
with the additional $200,000. 


Each unit sold consists of a common share a share purchase warrant, each warrant
being exercisable to acquire an additional share at $0.45 for 18 months
following the closing. All of the securities are subject to a hold period
expiring December 9, 2011. The company did not proceed with the loans to
directors, officers and employees as announced in its August 4 press release.


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 well financed 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 

John Anderson, Chair

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