NFR Northern Freegold Resources Ltd

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


Northern Freegold Resources Ltd. (TSX VENTURE:NFR) has closed the private
placement announced on October 18th, 2011. A total of 349,168 units (the
"Units") have been completed for gross proceeds of CDN $104,750. All the units
were taken up by directors and officers of the Company.


Each unit will consist of a common share priced at $0.30 per Share and a share
purchase warrant, each warrant being exercisable to acquire an additional share
at $0.45 for 18 months following the closing.


Net proceeds from the private placement will be applied towards advancement of
the Company's Yukon mineral properties and for general working capital purposes.


All of the securities are subject to a hold period expiring April 2, 2012.

Northern Freegold is a well-financed rapidly advancing Canadian-based precious
metals exploration and development company. NFR brings local expertise and
strong management to focus on the development of economic mineral resources on
the 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 target 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 has the
potential to host multi-million ounce gold resources with multi-billion pound
copper resources similar to other porphyry deposits in the region.


Northern Freegold Resources Ltd.

On behalf of the Board of Directors

John Burges, President & CEO

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