Northern Freegold Announces Updated NI 43-101 Resource Estimate for Nucleus, Revenue and Tinta Deposits, Freegold Mountain Project, Yukon

Vancouver, BC – March 25, 2015 – Northern Freegold Resources Ltd. (TSX-V: NFR) www.northernfreegold.com announces that the Company has filed on SEDAR an updated technical report titled “Technical Report on the Freegold Mountain Project, Yukon, Canada, Resource Estimates, February 28, 2015”“(the “Updated Report”). The Updated Report is filed in support of resource estimates at the Nucleus, Revenue and Tinta deposits at the Company’s 100% owned Freegold Mountain Project, Yukon.

* Gold equivalent (AuEq) is calculated based upon prices of US$1250/oz for gold, US$22.00/oz for silver, US$2.90/lb for copper, and US$10.00/lb for molybdenum and assumes 100% metal recovery. All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add up due to rounding.
** Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into mineable reserves once economic considerations are applied.

Nucleus Deposit
The updated resource (at a 0.30 g/t AuEq cut-off) contains 74.7 million tonnes grading 0.55 g/t gold, 0.91 g/t silver and 0.06% copper (1.31 million oz gold, 2.18 million oz silver and 105 million pounds copper) in the Indicated category (Table 1) and 63.8 million tonnes grading 0.39 g/t gold, 1.54 g/t silver and 0.05% copper (0.80 million oz gold, 3.15 million oz silver and 69 million pounds copper) in the Inferred category (Table 2).

Importantly, within the indicated resource there is a significant zone of higher grade mineralization which contains (at a 0.60 g/t AuEq cut-off) 23.4 million tonnes grading 1.07 g/t gold, 1.20 g/t silver and 0.08% copper (0.80 million oz gold, 0.90 million oz silver and 41 million pounds copper). This higher grade zone subcrops in the centre of the Nucleus deposit and has the potential to be exploited in the initial years of a mining operation.
The effective date of the Nucleus resource estimate is December 15, 2014.

Table 1: Indicated Mineral Resource Estimate for Nucleus Deposit at Various Au Eq Cutoff Grades

Table 2: Inferred Mineral Resource Estimate for Nucleus Deposit at Various Au Eq Cutoff Grades

*Gold equivalent (AuEq) is calculated based upon prices of US$1250/oz for gold, US$22.00/oz for silver, US$2.90/lb for copper, and US$10.00/lb for molybdenum and assumes 100% metal recovery. All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add up due to rounding.
** Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into mineable reserves once economic considerations are applied.

The resource estimate is based on more than 31,000 assay values from 322 drill holes (totaling > 50,000 metres). 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 1.50 metre composites of the assay values, with “zero” grade inserted into intervals that were not sampled.

Geological models were constructed of the porphyry dykes that control the higher grade mineralization, and shells were constructed of >0.4 g/t AuEq core mineralization and a >0.1 g/t AuEq halo surrounding the core. Composite samples were domained by utilizing the geological and the grade shell models.

Composite values were capped at 100 g/t Au within the core mineralization models (>0.4 g/t AuEq and the associated porphyry), and at 30 g/t Au within the halo mineralization models (>0.1 g/t AuEq and the associated porphyry) and the waste model. No capping was applied to silver or copper.

The geological models were used to constrain the composite values chosen for interpolation and the blocks reported in the mineral resource. A block model was constructed using 10 m x 10 m x 5 m blocks in the x, y, and z direction respectively. Grades for gold, copper and silver were interpolated into the blocks by the inverse distance squared method using a minimum of 2 and maximum of 12 composites to generate block grades in the indicated category and a minimum of 1 and maximum of 5 composites, with a maximum of 2 composites per drill hole, to generate block grades in the inferred category.

The above parameters were deemed the best for generating representative resource blocks. To test the robustness of the parameters changes were made to interpolation methods (ID, ID3, Ordinary Kriging) and to search dimensions and orientations. These changes resulted in minimal impact on global resource estimates.

The Nucleus deposit mineralization begins at surface and is open to expansion laterally and at depth. The existing resource estimate tests only the upper reaches of a high chargeability and high conductivity zone identified by a Titan 24 survey completed in 2010. This zone extends over an area 1.5 km wide by 1.5 km long at an approximate depth of 100 to 500 m below surface. The Nucleus deposit is classified as an intrusive related low sulphidation epithermal gold deposit and may be part of a much larger porphyry Cu ± Au ± Mo system recognized in the Revenue Zone.

Revenue Deposit
An Inferred Mineral Resource for the Revenue deposit is reported at a cut-off grade of 0.5g/t AuEq. The total resource estimate at a AuEq cut-off grade of 0.50g/t is 80.8 million tonnes of mineralized material containing 1.01 million ounces gold, 8.96 million ounces silver, 241 million pounds of copper, and 83 million pounds of molybdenum grading 0.39g/t gold, 3.45g/t silver, 0.14% copper and 0.05% molybdenum (Table 3). This equates to a total of 2.52 million gold equivalent ounces at a grade of 0.92 g/t AuEq based on metal prices of $1,250/oz for gold, US$22.00/oz for silver, and US$2.90/lb for copper and US$10.00/lb for molybdenum. It assumes 100% metal recovery with no discount for metallurgical recovery in contained metal figures.

The Revenue zone contains significant tungsten values (Armitage et al, 2012). However, due to the uncertainty of the potential metal recoveries, tungsten is not reported as part of the Revenue resource.

The effective date of the Revenue resource estimate is December 15, 2014.

Table 3: Inferred Mineral Resource Estimate for the Revenue Deposit at Various Au Eq Cutoff Grades

*Gold equivalent (AuEq) is calculated based upon prices of US$1250/oz for gold, US$22.00/oz for silver, US$2.90/lb for copper, and US$10.00/lb for molybdenum and assumes 100% metal recovery. All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add up due to rounding.
** Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into mineable reserves once economic considerations are applied.

A total of 240 RAB, RC and diamond drill holes totalling 27,244 metres have been completed in the Revenue area through 2011. The Revenue mineral resource estimate is defined by 54 of these drill holes (10,582 meters) completed in the eastern portion of the Revenue property area. A total of 5,997 assay values were collected from these 54 holes.

For the resource estimate, a grade control model was built which involved visually interpreting mineralized zones on 50 metre cross sections using histograms of gold, copper, molybdenum and gold equivalent (“AuEq”) values. Polygons of mineral intersections were made on each cross section and these were wireframed together to create a contiguous resource model in Gemcom GEMS 6.3 software. This modeling exercise provided broad controls of the dominant mineralizing direction.

The Revenue Zone is centred on an Upper Cretaceous age, east- west elongated tonalite porphyry stock, the Revenue Breccia that intrudes Mesozoic granitoids (predominantly granodiorite) of the Dawson Range Batholith. Intrusion of the tonalite stock into granodiorite caused brecciation of both the intrusive and the surrounding granodiorite along the northern, southern and eastern contact of the stock. Brecciation is best developed in the south-eastern end of the stock where the breccia can be several hundred metres wide in plan view. To the west, and along the north contact, the breccias narrow gradually to less than 100 metres. The overall dimension of the Revenue Breccia complex is approximately 1.4 by 0.6 kilometres.

Primary copper, gold, molybdenum, silver and lesser tungsten mineralization was deposited from hydrothermal fluids that exploited the breccias and fractured wall rocks. Better grades occur in the southern and southwestern parts of the Revenue Breccia and granodiorite. A general zoning of the primary sulphides occurs with chalcopyrite, molybdenite ± tungsten and associated gold and silver grading outward into pyrite with associated low grade gold. Mineralization is associated with pervasive silicification and sericitization grading outwards into clay alteration marked by kaolinite and illite. Mineralization and alteration appear to be controlled by two sets of structures, one set trending west to northwest and the lesser set trending northwest to north. The Revenue Zone is classified as a porphyry Au-Cu-Mo-Ag system and may be part of a much larger system which includes the Nucleus Au-Ag -Cu Zone. The Revenue Zone shows similar geological and mineralogical characteristics to the Casino Cu-Au-Mo-Ag porphyry deposit, located approximately 100 km to the northwest. The Casino deposit contains a NI 43-101 compliant proven and probable mill ore reserve of 965 million tonnes grading 0.204 % Cu, 0.240 g/t Au, 0.0227 % Mo and 1.74 g/t Ag (Western Copper and Gold Corporation news release dated January 7, 2013).

The Revenue resource model is a grade model which outlines the variable distribution of gold, copper, molybdenum, silver and tungsten along the southern and south-eastern margin of the Revenue Breccia and into the host granodiorite. The model is roughly based on a minimum AuEq grade of 0.1 to 0.2 g/t. The model trends at 275° and dips approximately 85° to the south. In the central part of the deposit area, mineralization extends northward at depth and may be defining the base of the breccia complex. The resource model essentially forms a band around the periphery of the Revenue breccia.

A block model was created for the Revenue resource estimate using 10 x 10 x 5 metre blocks in the X, Y, and Z directions, respectively. The primary aim of the interpolation was to fill all the blocks within the resource models with grade. To generate grade within the blocks inverse distance squared (ID2) was used. Grades for gold, copper, silver, molybdenum and tungsten were interpolated into the blocks by ID2 using a minimum of 2 and maximum of 20 composites to generate block grades in the Inferred category.

A visual check of block grades of gold, copper, silver, molybdenum and tungsten as well as AuEq against the composite data on vertical section and in 3D showed excellent correlation between block grades and drill intersections. The Revenue resource model is considered valid.

The Revenue deposit mineralization is open to expansion laterally and at depth.

Tinta Deposit
Using a base case cutoff grade of 0.5 g/t Au, the Tinta zone is estimated to contain an Inferred Mineral Resource of 2.16 million tonnes grading 1.89 g/t Au for a total of 131,000 ounces, 54.9 g/t Ag for a total of 3.81 million oz,, 0.27% Cu for a total of 13 million Lbs, 0.99% Pb for a total of 47 million Lbs and 1.41% Zn for a total of 67 million Lbs (Table 4). A cut-off grade of 0.50 g/t Au is considered a reasonable economic cut-off grade for the Tinta zone to maximize the grade of the resource while maintaining a coherent model of the resource.

The effective date of the Tinta resource estimate is December 15, 2014.

Table 4: Inferred Mineral Resource Estimate for the Tinta Deposit at Various Au Cutoff Grades

**The Tinta resource estimate is categorized as Inferred as defined by the CIM guidelines for resource reporting. Mineral resources do not demonstrate economic viability, and there is no certainty that these mineral resources will be converted into mineable reserves once economic considerations are applied.

Mineralization in the Tinta Hill property is dominated by northwest‐trending, sub‐vertical quartz +/‐ carbonate‐sulphide veins containing pyrite, chalcopyrite, galena, sphalerite and argentiferous tetrahedrite. The main Tinta vein zone is mapped discontinuously for over 3,500 metres strike‐length. Individual veins vary from 0.9 to 1.6m, and have intensely bleached alteration envelopes. Alteration consists of magnetite destructive, intense kaolinite adjacent to, and extending a few metres from mineralized veins, and a broader white mica (muscovite and lesser illite) envelope that locally surrounds mineralized veins. Mineralized veins and associated alteration envelope are hosted within granodiorite to quartz‐monzonite.

The assay database used to construct the Tinta vein resource file included samples from diamond drill holes and underground development. The complete Tinta Hill drill hole database included 72 drill holes for a total of 9,824m and 1,940 assay samples. Of the 72 drill holes, 61 drill holes for a total of 8,637 m and 1,950 assays were used in the preparation of the resource model and resource estimate.

A total of 939 metres of underground development was completed in the Tinta Hill property between 1980 to 1981 by Silver Tusk Mines Ltd and Panther Mines Ltd, including 516 metres of drifting and crosscutting in Level 1 (3,900 ft elevation) and 423 metres in Level 2 (3,750 ft elevation). Approximately 578 chip samples were used in the preparation of the resource model and resource estimate.

For the Tinta vein resource estimate, grade control models were built which involved visually interpreting the mineralized zone from 25 metre spaced cross sections using histograms of silver, gold, copper, lead and zinc values. Polygons of mineral intersections were made on each cross section and these were wireframed together to create a contiguous resource model in Gemcom GEMS 6.6.0.1 software. The model was constructed based on the distribution of gold mineralization in the 0.1 to 0.5 g/t Au range and Ag in the 10 to 20 g/t range. The Tinta resource model includes the main Tinta vein and two sub-parallel subsidiary veins Vein B and Vein C. The modeling exercise provided broad controls of the dominant mineralizing direction. The Tinta resource model extends for approximately 950 metres trending 305°, and from surface to a depth of up to 350 metres.

Based on a statistical analysis of the composite database from the resource model, it was decided that limited capping was required on the composite populations to limit high gold values. A cap level of 30 g/t Au was used. Grade capping of other metals was deemed unnecessary.

A block model was created for the Tinta mineralized zone using 2 x 5 x 5 metre blocks in the X, Y and Z directions respectively. Grades for Au, Ag, Cu, Pb and Zn were interpolated into the Tinta resource blocks by the inverse distance squared (ID2) method. Visual checks of block grades against the composite data used to interpolate grade was conducted in plan view, in 3D and on vertical sections. The resource model showed good correlation between block grades and drill intersections. A statistical comparison of block grades with composite grades was also conducted. The Tinta resource model is considered valid.

The Tinta deposit mineralization is open to expansion laterally and at depth.

General
The Freegold Mountain project is located within the Dawson Range and covers an area in excess of 198 square kilometres (75 square miles). The project has significant infrastructure advantages. It is located approximately 200 kilometres northwest of Yukon’s capital and industrial center in Whitehorse. It is road accessible from Whitehorse, along the main Klondike Highway, a paved all-weather highway running from Whitehorse to Dawson City thence along a 70 kilometre government maintained road from Carmacks, called the Freegold Road. This road currently terminates near the Company’s Revenue camp and provides road access to the Nucleus, Revenue and Tinta deposits as well as most mineralized showings on the property. Commercial electrical grid power (138kv) is available at Carmacks or Stewart Crossing. A spur electrical line extends into the Minto copper mine 30 kilometres north of the Freegold Mountain project.

The Freegold Mountain property covers a fertile and very prospective segment of the Big Creek Fault Zone and is endowed with three significant NI43-101 compliant mineral deposits and numerous showings which represent porphyry-epithermal systems related to Mid-and Late-Cretaceous magmatic events. The Late-Cretaceous event, defined by Allan et al. 2013 and Bineli, 2011, has been recognized on the Freegold Mountain property to span at least 5 Ma (79 Ma — 74 Ma) and is responsible for the emplacement of the Stoddart (porphyry) prospect and both the Revenue (porphyry) and Nucleus (porphyry-skarn-epithermal) deposits as well as numerous other showings including the recently discovered Irene (epithermal) prospect. These porphyry-hydrothermal systems define a 6.0 km northwest trending fertile exploration corridor within the Big Creek Fault Zone.

NI 43-101 Disclosure
The above mineral resource estimates have been prepared in compliance with the standards of NI 43-101 by J. Campbell, B.Sc., P. Geo., A. Armitage, Ph.D., P. Geol., A. Sexton, M.Sc., P. Geo., and D. Studd, M.Sc., P. Geo. of GeoVector Management Inc.  Allan Armitage, Ph.D., P. Geol., is an independent Qualified Person, as defined by NI 43-101, and has reviewed and approved the scientific and technical disclosure in this release.

Technical Disclosure Review
Following a technical disclosure review by the British Columbia Securities Commission, on December 17, 2014 the Company announced that the previously filed technical report entitled “Golden Revenue Property, Freegold Mountain Project, Yukon Canada, Preliminary Economic Assessment, April 9, 2013” (the “PEA report”) did not comply with certain requirements of NI 43-101. The Company has determined to retract the PEA report rather than incurring the expense of obtaining an updated and amended PEA report. Investors are cautioned not to rely on the PEA report. The Updated Report referred to above is the most current technical report on the property.

About Northern Freegold
Northern Freegold is a growth oriented Canadian-based precious metals exploration and development company and is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and detailed information, please visit our website at www.northernfreegold.com

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

On behalf of the Board of Directors
Signed “Paul Reynolds”
Paul Reynolds, President

For further information please contact:

Paul Reynolds, President
Northern Freegold Resources Ltd.
+1 604 893 8757

John Anderson, Chairman
Northern Freegold Resources Ltd.
+1 604 218 7400

Neither the 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 are forward looking. Statements concerning Mineral Resources are forward-looking statements in that they reflect an assessment, based on certain assumptions, of the mineralization that would be encountered 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 the Company’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 testing and the estimation of reserves and resources; the need for cooperation of government agencies and First Nations groups in the exploration, and development of properties; and the need to obtain permits and governmental approval. The Company’s forward looking statements reflect the beliefs, opinions and projections of management on the date the statements are made. The Company assumes no obligation to update the forward looking statements if management’s beliefs, opinions, projections, or other factors should change.