Standard & Poor's Initiates Factual Stock Report Coverage on Northern Freegold Resources Ltd.

NEW YORK--(BUSINESS WIRE)--Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on Northern Freegold Resources Ltd.

Northern Freegold Resources Ltd. (NFR), in the development stage as of Sept. 30, 2008, is a precious metals exploration and development company. It focuses on the development of economic mineral resources on the district-scale Freegold Mountain gold and copper project in the Yukon Territory, Canada and the Burro Creek gold and silver property in Arizona.

The Freegold Mountain Project is located in the Whitehorse Mining District centered approximately 70 kilometers northwest of Carmacks. The land package covers an area in excess of 64 square miles (166 square kilometers). Within the project expanse are at least 20 known mineralized zones, some with historical resource estimates (not compliant with NI 43-101). Northern Freegold reported in February 2009 that it has been actively drilling on five of those zones (2% of the total project area). The five zones are the Nucleus, Tinta, Goldy, Stoddart and Ridge zones. NI 43-101 compliant resource calculations are underway on the Nucleus and Tinta zones.

During the third quarter of 2008, Northern Freegold released results from the final ten diamond drill holes of 2008 at the Burro Creek Gold/Silver Property in Arizona. The main focus of the drill program was to confirm and update historical results on an open pit type epithermal gold/silver mineralized zone on the property and to drill test areas on the property with potential to discover additional mineralization within the extensive epithermal vein system. The drill program was completed on Apr. 11, 2008, with 33 holes; totaling 8,414 feet (2,565 meters) drilled along the vein system.

In November and December 2008, , the company completed two non-brokered private placement to investors by issuing 5.4 million flow-through shares for gross proceeds of C$2.3 million. The proceeds from the sale of the shares were to be used to finance drilling and exploration on the company's Freegold Mountain Project in the Yukon Territory.

This report will also be accessible on an ongoing basis to the investment community ---- scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.

About Standard & Poor's Factual Stock Reports

This Standard & Poor’s service provides factual research coverage enabling information about Northern Freegold Resources Ltd and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company’s fundamentals and business prospects. Currently profiling over 1,000 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor’s Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor’s. Standard & Poor’s Factual Report research has no access to non-public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P’s STARS research) are eligible to obtain this coverage.

About Standard & Poor's

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Northern Freegold Resources Ltd.
Susan Craig, President
604-893-8757
[email protected]
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Standard & Poor's
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