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Enter Symbol
or Name
USA
CA



Northern Freegold Resources Ltd (2)
Symbol NFR
Shares Issued 15,240,988
Close 2014-12-17 C$ 0.07
Market Cap C$ 1,066,869
Recent Sedar Documents

Northern Freegold clarifies non-compliant information

2014-12-17 16:26 ET - News Release

Mr. Paul Reynolds reports

NORTHERN FREEGOLD REPORTS TECHNICAL DISCLOSURE REVIEW

Northern Freegold Resources Ltd., as a result of a review by the British Columbia Securities Commission, is issuing the following news release to clarify its technical disclosure.

The company's corporate presentation entitled "Significant Gold/Copper Resources in Yukon and Arizona. Corporate Presentation 2014," contained statements that did not comply with the requirements of National Instrument 43-101, including:

  • The presentation omitted required cautionary statements regarding the use of inferred resources in a preliminary economic assessment. In this regard the company advises that the preliminary economic assessment disclosed in the report is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
  • The presentation discloses the quantity of contained metal for deposits on adjacent properties without including the quality and quantity.
  • The presentation incorrectly discloses the Tinta Hill resource estimate as a historic estimate. The company clarifies that the Tinta Hill resource estimate was reported in a technical report dated Aug. 31, 2009, which was filed by the company on SEDAR, and as such it is not a historic estimate.
  • The presentation discloses the in situ values of gold-equivalent and copper-equivalent per share, which is prohibited under NI 43-101 and is hereby retracted.

The company has removed the corporate presentation from its website. An updated presentation will be posted in the near future that will correct the deficiencies noted above.

In addition, the company previously filed a technical report entitled "Golden Revenue Property, Freegold Mountain Project, Yukon, Canada, Preliminary Economic Assessment, April 9, 2013." The report, as filed, does not comply with certain requirements of NI 43-101 and investors should not rely upon the results of the preliminary economic assessment (PEA) until a compliant technical report is filed. The company is working to file an amended technical report on the project that complies with the requirements of NI 43-101. The company has been placed on the BCSC's defaulting issuer list until the deficiencies are remedied.

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