Press release from TheNewswire.ca
Yukon Government Financial Support for Northern Freegold's Access Road
Monday, July 22, 2013
Yukon Government Financial Support for Northern Freegold's Access Road09:39 EDT Monday, July 22, 2013
Vancouver, BC: July 22, 2013. Northern Freegold Resources Ltd. (TSX-V: NFR) (OTCQX: NFRGF) (the "Company") is pleased to announce that the Yukon Government has committed $450,000 to further the Freegold Road Infrastructure Planning Project.
Recognizing that infrastructure development including transportation infrastructure, is a critical component of economic development in Yukon, the Government of Yukon is committing the funds through its Strategic Industries Development Fund for professional, scientific and technical services in implementing the Freegold Road Infrastructure Planning Project. These studies (at no cost to the Company) are expected to provide valuable engineering assessment and design work that could support potential future upgrading of the Freegold Road. These funds add to the already significant investments previously made in upgrading the Freegold Road.
The existing Freegold Road runs ~70 km northwest from the town of Carmacks on the Klondike Highway to Northern Freegold's property and provides direct road access to Company camps on site, as well as to other industrial and tourism destinations along its route for all Yukoners. This road provides important vehicular access to Northern Freegold's wholly owned Freegold Mountain project. This significantly reduces Company exploration and development costs in contrast with fly-in only mining projects.
As part of Canada's Economic Action Plan announced in January 2009, the Federal Government's Infrastructure Stimulus Fund invested over $1 million to widen the Freegold Road and add new truck pull-outs. These pull-outs allow slower mine-related traffic to get off the road and public traffic to pass. A new steel bridge was built across a previous Freegold Road bottleneck at Nordenskiold River. Further information on these upgrades can be found at the Government of Canada Infrastructure website .
In confirming the new commitment to Freegold Road, Currie Dixon, the Minister of Economic Development for Yukon commented, "This project is a great example of working in partnership with the mineral exploration and development industry for the benefit of all Yukoners".
The Company will post the full text of Minister Dixon's letter on its website.
About Northern Freegold
Northern Freegold Resources Ltd. (TSX.V: NFR; OTCQX: NFRGF) trades in Canada on the TSX Venture Exchange under the symbol "NFR" and in the United States on the OTCQX under the symbol "NFRGF". Northern Freegold is a growth oriented Canadian-based precious metals exploration and development company. Northern Freegold brings wide-ranging expertise and strong management to focus on the development of its district-scale Freegold Mountain gold and copper project in the Yukon and the Burro Creek gold and silver property in Arizona.
PR Contact for Northern Freegold Resources Ltd.:
Andy Hay, Corporate Communications, +1 (604) 893-8757, firstname.lastname@example.org
On behalf of the Board of Directors
Signed "John Burges"
John Burges, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements The information in this press release includes certain "forward-looking statements". All statements, other than statements of historical fact, included herein including, without limitation, plans for and intentions with respect to the company's properties, strategic alternatives, quantity of resources or reserves, timing of permitting, construction and production and other milestones, are forward looking statements. Statements concerning Mineral Reserves and Mineral Resources are also forward-looking statements in that they reflect an assessment, based on certain assumptions, of the mineralization that would be encountered and mining results if the project were developed and mined in the manner described. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from NFR's expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological testing and the estimation of reserves and resources; the need for cooperation of government agencies and First Nations groups in the exploration, and development of properties; and the need to obtain permits and governmental approval. NFR's forward looking statements reflect the beliefs, opinions and projections of management on the date the statements are made. NFR assumes no obligation to update the forward looking statements if management's beliefs, opinions, projections, or other factors should change.
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