Freegold Closes $2.2 Million Private Placement

About this update from Freegold Ventures Limited

[{"type":"text","content":"\n\n\n Mar. 17, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nwww.freegoldventures.com \n\n\nDrilling Underway at Golden Summit, Alaska\n\n\nVANCOUVER, March 17 /CNW/ - Freegold Ventures Limited (TSX: FVL\n Frankfurt: FR4N)("Freegold") is pleased to announce that it has closed a non-brokered private\n placement of 4,583,331 ("Units"), priced @ $0.48 per Unit. Each unit\n will consist of one common share (a "Share") and one common share\n purchase warrant (a 'Warrant").   Each Warrant will entitle the holder\n to acquire an additional Share at a price of $0.59 for a period of one\n year from the date of closing and at a price of $0.65 between one year\n and two years from closing. Insiders subscribed for 403,750 units. A\n finder's fee of 6% will be paid on a portion of the placement. The\n foregoing is subject to regulatory approval. The securities issued will\n be subject to resale restrictions until July 17, 2011.\n\n\nFurther to its January 28th, 2011 news release Freegold is also pleased to announce that it\n commenced drilling on its Golden Summit Project, Alaska. A 5,000 metre\n program commenced in late February and is aimed at additional resource\n delineation on the project.  A total of 20 holes are planned in this\n current program.  Drilling during this Phase 1 program will focus on\n the Dolphin Zone which is located in the western portion of the\n property package. During the summer of 2010 Freegold undertook...

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