VANCOUVER, BC — February 18, 2026 — Leads & Copy — Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) has announced promising results from eight additional drill holes at its Golden Summit project, indicating the project’s significant potential and ongoing exploration success. The company plans to resume drilling later this month, focusing on closer-spaced drilling to improve grade control. Metallurgical work is underway to determine the optimal method for inclusion in the pre-feasibility study (PFS).
The current exploration program aims to broaden the understanding of Golden Summit’s mineralized zones and target extensions to the west and east of the current resource area. Key objectives include identifying higher-grade corridors, reducing the strip ratio, determining the optimal cutoff grade to maximize project value, and conducting strategic drilling in the WOW (2024), Dolphin, Cleary Hill, and Tamarack areas. Drilling east of the main resource zone is scheduled for later in the season.
The Tamarack Area, located approximately 400 meters east of Cleary, represents a significant expansion of Golden Summit’s mineralized area. Initial drilling in 2025 included four drill holes to further assess exploration potential to the east. Hole GS2540 returned 1.32 g/t gold over 14.7 meters at a shallow depth, with deeper mineralization of 1.54 g/t Au over 44 meters within a broader interval of 1.17 g/t Au over 111.9m. These results indicate strong potential for expanding the project’s eastern footprint. Further drilling is planned for 2026 in the Tamarack area.
Drill holes GS2536, GS2540, GS2545, and GS2551 were drilled in Tamarack. GS2536 intersected 1.28 g/t gold over 49.2 meters, and GS2540 showed several intervals of continuous gold mineralization in highly deformed schist, with intense alteration and visible gold in some intervals. Results for GS2545 and GS2551 are pending.
In the Dolphin Area, hole GS2533, located on the western flank of central Dolphin, intersected 525 meters averaging 0.74 g/t Au. This provides valuable infill data and is among the longest mineralized intercepts drilled at Golden Summit. Holes GS2535 and GS2541, drilled north of GS2533 by 50 and 200 meters, respectively, both returned notable intervals.
Fifteen holes were drilled in the WOW Area in 2025 to test the westward extension of the resource. Drilling focused on areas closer to the surface with significantly higher-grade intersections. Drilling also targeted the northern extent and depth, with results indicating strong potential at depth. GS2516 intersected 120 g/t Au over 3 meters at 800 meters depth, while GS2529 confirmed broader zones of higher-grade material west of historic veins. GS2530 explored the northwest portion, identifying mineralization at depth and revealing a shift in mineralization trends from south- to north-dipping, aligning with the historic Newsboy Mine to the west. Exploration in 2026 will continue to further evaluate the WOW Area.
Hole GS2516, drilled in the western WOW Area, encountered multiple zones with grades above the cutoff, exhibiting increased width and thickness at greater depths. A significant intercept of 120 g/t Au over 3.0 meters was recorded near the base of the hole at a depth of 803 meters.
Hole GS2529, drilled vertically in the western WOW Area, confirms the continuity of higher-grade mineralization downdip and at depth.
Hole GS2530, intercepted mineralization above the resource cut-off grade at approximately 536 metres. The mineralization in may dip northward unlike the previous historically south dipping veins, as a result GS2530 may have stopped short at 629m before entering the main zone.
In the Cleary Area, a hole drilled on the western edge of Cleary targeted a depth of 900 metres but terminated at 714.5 metres due to drilling challenges.
Drilling concluded in mid-December with a total of 63 holes completed. Since 2020, Golden Summit has grown into one of North America’s largest undeveloped gold resources. As of July 2025, Golden Summit resources include an Indicated Primary Mineral Resource of 17.2 million ounces at 1.24 g/t Au and an Inferred Primary Mineral Resource of 11.9 million ounces at 1.04 g/t Au, using a 0.5 g/t cut-off grade and a gold price of $2,490. An updated mineral resource estimate will inform the upcoming Pre-Feasibility Study (PFS).
Alvin Jackson, P.Geo., Vice President of Exploration and Development for Freegold, is the Qualified Person responsible for the scientific and technical disclosure in this release.
Freegold is a TSX-listed company focused on exploration activities in Alaska.
Source: Freegold Ventures Limited
