Freegold Ventures Limited announced it has signed a memorandum of understanding with the Alaska Department of Natural Resources, Office of Project Management and Permitting for engagement with the State's Large Mine Permitting Team. The Large Mine Permitting Team offers multi-disciplinary expertise and is involved from pre-permitting to post-closure of mines. As Freegold moves into the preliminary economic assessment (PEA) stage of evaluation the engagement of the LMPT represents the next logical step in order to ensure the orderly development of the Golden Summit Project.

Requests for Proposals for the completion of a PEA have been sent out to various engineering companies and Freegold expects to award the PEA contract in the near term with the aim of having the study completed during 2014.