NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, BC: December 17, 2014. Northern Freegold Resources Ltd. (NFR: TSX-V) ) is pleased to announce a private placement offering on a non-brokered basis of up to 13,333,333 units at a price of $0.0525 per unit for gross proceeds of up to $700,000. Each unit will consist of one common share and one share purchase warrant, each warrant being exercisable to acquire an additional common share at an exercise price of $0.09 per share for a period of 5 years from the closing date.

If, after one year from the closing date, the 20 day volume weighted average trading price of the Company's shares exceeds $0.25, then the Company may by notice to the holder accelerate the expiry date of 50% of the warrants outstanding to 20 calendar days from the date of notice, and if, after one year from the closing date, the 20 day volume weighted average trading price of the Company's shares exceeds $0.40, then the Company may by notice to the holder accelerate the expiry date of 100% of the warrants outstanding to 20 calendar days from the date of notice.

Net proceeds from the private placement will be applied towards advancement of the Company's mineral properties and for general working capital purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Northern Freegold

Northern Freegold is a growth oriented Canadian-based precious metals exploration and development company. Northern Freegold is focused on creating value through the advancement of the district scale Freegold Mountain project and the Burro Creek gold and silver property in Arizona. For maps and more information, please visit our website www.northernfreegold.com

On behalf of the Board of Directors
Signed "Paul Reynolds"
Paul Reynolds, President

Neither the 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.

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