Northern Freegold Resources, Ltd. announced an updated NI 43-101 mineral resource estimate for the Nucleus deposit at the road accessible Freegold Mountain Project, Yukon. Highlights: - Subcroping higher grade zone containing 25.9 million tonnes grading 1.02 g/t gold (851,603 oz gold) has the potential to be exploited in the initial years of a mining operation; - Grade improvement following 2012 drilling and through stricter resource constraints - at 0.4 g/t AuEq cut-off, gold grade increases approximately 19% over the previous estimate over all resource categories; - Nucleus deposit mineralization begins at surface and is open to expansion in all directions and at depth; - Excellent gold metallurgical recoveries of up to 97%; - Nucleus lies adjacent to the Revenue multi-million ounce gold deposit on an 8 km geophysical anomaly with multiple further exploration targets; and - First economic study on both the Nucleus and adjacent Revenue deposits well underway - expected to be completed in the first quarter of 2013. The new resource (at a pit optimized 0.25 g/t AuEq cut-off) contains 71.9 million tonnes grading 0.57 g/t gold, 0.85 g/t silver and 0.06% copper (1.31 million oz gold, 1.97 million oz silver and 89 million pounds copper) in the Indicated category and 60.4 million tonnes grading 0.41 g/t gold, 1.48 g/t silver and 0.04% copper (801,235 oz gold, 2.9 million oz silver and 52 million pounds copper) in the Inferred category.

A 0.25 g/t AuEq cut-off grade is assumed to be reasonable at recent 3 year running average gold prices and the metal recoveries indicated from metallurgical testwork on Nucleus. Importantly, within the indicated resource there is a significant zone of higher grade mineralization which contains (at a 0.50 g/t AuEq cut-off) 25.9 million tonnes grading 1.02 g/t gold, 1.11 g/t silver and 0.07% copper (851,603 oz gold, 924,040 oz silver and 38 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.