Freegold Appoints Manz and Knight as Directors, Medd as Chairman
November 05 2007 - 12:34PM
PR Newswire (US)
VANCOUVER, Nov. 5 /PRNewswire-FirstCall/ -- Freegold Ventures
Limited (TSX: ITF, OTCBB: FGOVF, Frankfurt: FR4) is pleased to
announce the appointment of Mr. Steve Manz and Mr. David Knight to
the Freegold Board of Directors following the resignation of Mr.
Harry Barr as Chairman and director, and the recent passing away of
board member Mr. Bernard Barlin. Freegold also announces the
appointment of Morris Medd, a current director of the company, as
its new Chairman. Steve Manz has been the President and CEO of
Freegold over the past two years and has been instrumental in
assembling a senior exploration and mine development team with an
excellent track record in taking companies to production, in the
refinancing of the Company, and in helping guide the Company
through its recent period of rapid growth. David Knight is a
partner with the law firm of Macleod Dixon LLP, who brings with him
over 25 years experience in securities and mining law. David's
expertise is in the areas of public and private financing, mergers
and acquisitions, corporate governance and regulatory compliance,
and he represents both issuers and investment dealers on a regular
basis. David's representation of numerous clients on property
acquisitions and development, and his experience in closing large
mining transactions will be of great assistance in helping Freegold
continue to grow through in-house project developments and on-going
acquisitions. David has been recognized as a recommended lawyer in
the area of mining law by the LEXPERT Legal Directory, and has been
designated as a "Best Lawyer in Canada" for 2007 in the area of
Natural Resources Law. Morris Medd has been a director of Freegold
since September 2006 and brings over 40 years of hands on
experience in company building and mine development and contracting
to his new position as Freegold Chairman. Morris started his career
with the Redpath Group, a world leader in shaft sinking,
underground mine development and contract mining, as a miner. Over
his 30 years with the company he gained a broad range of expertise
through his escalating positions as project manager, group contract
manager, Senior Vice President of Operations, and finally as
President of the worldwide Redpath Group of Companies, a position
he held for five years. Mr. Medd is also a former Director of the
Ontario Mining Association, and is credited with the establishment
of a number of new and innovative mine development techniques.
About Freegold Ventures Limited Freegold Ventures Limited is a
North American exploration and development company with a new
management team experienced in mine development and production that
is actively exploring advanced-stage gold projects in Idaho and
Alaska. Freegold holds a 100% lease interest in the Almaden gold
project in Idaho. This large tonnage epithermal gold deposit was
the subject of a feasibility study in 1997 calling for the
development of a 95,000 oz/year open pit, heap leach mine. Freegold
is currently finalizing a 41,000-foot drilling program aimed at
further expanding the size of the resource prior to undertaking new
economic evaluations in 2007. Drilling at depth and to the north
and south of the known mineralization is continuing to identify new
extensions to the deposit. Freegold is also continuing to discover
new high-grade veins and bulk tonnage shear zones in its
40,000-foot drill program at its Golden Summit project outside
Fairbanks, Alaska. Gold production from the processing of bulk
sampled material has commenced, and in addition to on-going bulk
sampling of additional areas found to contain high grade surface
mineralization, the Company continues to define additional areas of
larger, lower grade mineralization through on-going drilling and
stripping. Exploration has also commenced on the Vinasale property
in Alaska, where geophysical and surface sampling programs have
recently been completed, and on the Rob property in Alaska, where
recent drilling has intersected high-grade gold (29.0 g/t over 13
feet and 20.1 g/t over 13.5 feet) in Pogo-style, near surface
quartz veins. The Qualified Person for this release is Michael P.
Gross, M.S., P. Geo., VP Exploration, Freegold Ventures Limited. On
behalf of the Board of Directors "Steve Manz" Steve Manz President
and C.E.O. The TSX has neither approved nor disapproved the
contents of this news release. CUSIP: 45953B107 DISCLAIMER This
news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange
Act of 1934, as amended. All statements, other than statements of
historical fact, included herein are forward-looking statements
that 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 the Company's expectations
are disclosed in the Company's documents filed from time to time
with the Toronto Stock Exchange, British Columbia Securities
Commission and the United States Securities & Exchange
Commission. CONTACT: Kristina Walcott - VP Corporate Development,
(604) 662-7307, DATASOURCE: Freegold Ventures Limited CONTACT:
Kristina Walcott - VP Corporate Development, (604) 662-7307,
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