[Marinir] {Disarmed} Northern Freegold Announces First Resource at Revenue Zone at Freegold Mountain with 3.7 Million Gold Equivalent Ounces

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http://www.northernfreegold.com/ 

Northern Freegold Announces First Resource at Revenue Zone at Freegold 
Mountain with 3.7 Million Gold Equivalent Ounces (1.1 Million Ounces of 
Gold plus Cu, Ag, Mo) 

Northern Freegold Resources Ltd. ( NFR 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=NFR&region=C&lookup=symbol&snapshot=default 

: TSX-V) is pleased to announce their first National Instrument ("NI") 
43-101 resource estimate for the Company's Revenue Deposit, part of 
their gold-copper Freegold Mountain Project in the Yukon, Canada. The 
Revenue Zone is adjacent to the Company's existing Nucleus Deposit. The 
road accessible Freegold Mountain Project is located approximately 200 
km northwest of the city of Whitehorse and 70 km northwest of the town 
of Carmacks, Yukon. 

Highlights: 

Newly defined Inferred Resource of 101 million tonnes of mineralized 
material containing 1.1 million ounces gold, 10.2 million ounces silver, 
287 million pounds of copper, and 90 million pounds of molybdenum 
grading 0.34 g/t gold, 3.14 g/t silver, 0.13 % copper and 0.04 % 
molybdenum using a gold equivalent* ("AuEq") cut-off grade of 0.5 grams 
per tonne ("g/t") 

This equates to a total of 3.7 million gold equivalent ounces at a grade 
of 1.1 g/t AuEq 

The Revenue Zone deposit remains open laterally and at depth 

"Revenue is Northern Freegold's second major deposit and it lies 
adjacent to our existing resource at Nucleus, with both open in all 
directions. We believe these deposits form part of a much larger 
continuous district-scale gold-copper porphyry system at Freegold 
Mountain, as evidenced by an 8km-long geophysical anomaly. The addition 
of a 3.7 million ounce gold equivalent (101 million tonnes) resource at 
Revenue significantly increases the project's resource base and more 
than doubles the tonnage. At Nucleus1 , we have previously defined a 
resource of 0.9 million ounces of gold equivalent in the Inferred 
category and 1.4 million ounces of gold equivalent in the Indicated 
category. We are pleased with this significant resource increase as it 
further demonstrates the potential scale of the porphyry asset that we 
have" commented John Burges, President & CEO. 

The results at various AuEq cut-off grades for the Revenue Deposit are 
tabulated below. 

AuEq (g/t) Tonnage 

(Mt) Gold Silver Copper Molybdenum AuEq* 

Cut-off g/t Ounces g/t Ounces % Pounds % Pounds g/t Ounces 

0.3 158 0.27 1,345,000 2.49 12,605,000 0.11 370,517,000 0.03 103,560,000 
0.83 4,419,000 

0.4 129 0.30 1,232,000 2.76 11,420,000 0.12 331,554,000 0.03 98,409,000 
0.94 4,076,000 

0.5 101 0.34 1,119,000 3.14 10,194,000 0.13 286,871,000 0.04 89,606,000 
1.08 3,659,000 

0.6 81 0.38 994,000 3.40 8,831,000 0.13 239,407,000 0.05 84,527,000 1.21 
3,276,000 

0.7 62 0.43 850,000 3.64 7,211,000 0.15 199,568,000 0.06 76,941,000 1.38 
2,848,000 

*Gold equivalent (AuEq) for the Revenue Resource is calculated based 
upon prices of US$1,016/oz for gold, US$15.82/oz for silver, and 
US$2.95/lb for copper and US$15.82/lb for molybdenum, and assumes 100% 
metal recovery with no discount for metallurgical recovery in contained 
metal figures (Note: total contained AuEq metal values may not add 
exactly because of rounding). 

Revenue Resource Estimate 

The Revenue mineral resource estimate is based on 54 drill holes (10,582 
meters) with 5,997 assay values collected through 2011. The resource 
estimate is categorized as inferred as defined by the Canadian Institute 
of Mining guidelines for resource reporting. Mineral resources do not 
demonstrate economic viability, and there is no certainty that these 
mineral resources will be converted into minable reserves once economic 
considerations are applied. 

Assay values were verified against drill logs and assay certificates. 
Drill-hole collar locations and down-hole surveys were checked and 
verified. The mineral resource was estimated using 1.5-meter composites 
of the assay values, with "zero" grade inserted into intervals that were 
not sampled. 

A geological model was constructed of the Au-Cu-Ag-Mo mineralized zone. 
This model was used to constrain the composite values chosen for 
interpolation and the ore blocks reported in the mineral resource. A 
block model was constructed using 10-meter by 10-meter by 5-meter blocks 
in the x, y and z directions respectively. Grades for copper, gold, 
silver and molybdenum were interpolated into the blocks by the inverse 
distance squared method using a minimum of 2 and maximum of 20 
composites to generate block grades. 

The inferred mineral resource estimate has been prepared in compliance 
with the standards of NI 43-101 by A. Armitage, Ph.D., P.Geol., and J. 
Campbell, BSc, P.Geo., of GeoVector Management Inc. GeoVector is an 
Ottawa, Ontario based consulting firm specializing in resource 
estimation, project assessment and project management. J. Campbell acted 
as the qualified person for the resource calculation, as defined in NI 
43-101, and is independent of the Company. A NI 43-101 report will be 
finalized and filed on SEDAR within 45 days of the date of this news 
release. 

The project is being managed by GeoVector Management Inc. <html<a 
href="http://www.geovector.ca" 
target="_blank"></html>http://www.geovector.ca under the supervision of 
A. Sexton and A. Armitage. Mr. Armitage is the V.P. of Exploration for 
Northern Freegold and is hereby identified as the "Qualified Person", as 
defined by NI 43-101, for the Freegold Mountain Project. A. Armitage, J. 
Campbell and A. Sexton have reviewed the technical information in this 
release. 

1 Nucleus Resource 

The Freegold Mountain project hosts a significant NI 43-101 resource, 
Nucleus Deposit, which lies directly adjacent to and to the west of the 
Revenue Deposit: 

Nucleus Deposit NI 43-101 Resource Summary (Feb. 2011) 

AuEq (M oz) Gold (M oz) Silver (M oz) Copper (M lbs) 

Indicated 1.42 1.1 1.4 67.8 

Inferred 0.93 0.6 1.3 62 

248.5 M t at 0.70 g/t Au, 0.90 g/t Ag and 0.06% Cu; 341.5 M t at 0.47 
g/t Au, 0.98 g/t Ag and 0.07% Cu; 0.4 g/t AuEq cutoff; AuEq calculated 
based upon prices of US$846/oz for Au, US$14.40/oz for Ag and US$3.31/lb 
for Cu 

About Northern Freegold 

Northern Freegold is a well-financed, rapidly advancing Canadian-based 
precious metals exploration and development company. NFR brings 
wide-ranging expertise and strong management to focus on the development 
of economic mineral resources on the Company's 100% owned (subject to 
underlying NSR's) district-scale Freegold Mountain gold and copper 
project in the Yukon and the Burro Creek gold and silver property in 
Arizona. 

Management believes the Revenue Deposit, the Nucleus Deposit and the 
Stoddart Zone are all part of a large scale gold-rich porphyry system, 
which extends in an east-west direction for more than 8 km. The system 
shows the same geological characteristics to other porphyry deposits in 
the region which host multi-million ounce gold resources and reserves 
with multi-billion pound copper resources and reserves. For maps and 
more information, please visit our website www.northernfreegold.com 

http://www.northernfreegold.com/ 

On behalf of the Board of Directors 

Signed "John Burges" 

John Burges 

President and CEO 

Neither TSX Venture Exchange nor its Regulation Services Provider (as 
that term is defined in policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 

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. 

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