Northern Freegold Adopts Shareholder Rights Plan
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/04/12 -- Northern Freegold Resources Ltd. (TSX VENTURE: NFR)(OTCQX: NFRGF)(FRANKFURT: 8N6). The Board of Directors of Northern Freegold Resources Ltd. ("Northern Freegold" or the "Company") has adopted a new shareholder rights plan, effective March 23, 2012. The shareholder rights plan has been adopted following the expiry of the Company's previous shareholder rights plan. The Shareholder Rights Plan is subject to regulatory acceptance and the Company intends to present the plan for ratification by the shareholders at a general meeting of the Company to be held no later than September 23, 2012.
The Shareholder Rights Plan has been adopted to ensure the fair treatment of all shareholders with respect to any takeover bid for the common shares of Northern Freegold. It is designed to provide shareholders with sufficient time to properly consider a takeover bid without undue time constraints. It will also provide the board with additional time for review and consideration of an unsolicited takeover bid and, if necessary, for the consideration of alternatives.
The Shareholder Rights Plan is not being adopted in response to any proposal to acquire control of the Company.
About Northern Freegold
Northern Freegold Resources Ltd. (TSX VENTURE: NFR)(OTCQX: NFRGF) trades in the United States on OTCQX under the symbol "NFRGF", and in Canada on the TSX Venture Exchange under the symbol "NFR". Northern Freegold is a rapidly advancing 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.
On behalf of the Board of Directors
John Burges, President and CEO
Cautionary Note Regarding Forward-Looking Information: Statements in this press release include certain "forward-looking information". All statements, other than statements of historical fact, included herein, including, without limitation, the terms and expected closing date of the proposed private placement and the company's use of the proceeds of the proposed private placement, contain forward-looking information. Readers are cautioned that actual events may vary from the forward-looking information contained in this news release. Material risk factors that could cause actual results to differ materially from the forward-looking information in this news release include, but are not limited to, changes in market conditions or regulatory requirements applicable to the private placement, inability of the Company to complete the proposed private placement due to inability to obtain regulatory approvals required to complete the proposed private placement or otherwise, uncertainties involved in the interpretation of drilling results and geological tests, the results of exploration being different than those anticipated by management and the need for cooperation of government agencies and First Nation groups in the exploration and development of the Company's Freegold Mountain property. The forward-looking information in this news release is based on the assumptions that market conditions and regulatory requirements will not change in any material respect, that the Company will be able to obtain all approvals required for the completion, and to complete, the proposed private placement and that the Company's planned exploration of its Freegold Mountain property will proceed as anticipated. The Company does not assume any responsibility for updating forward-looking information, except as required by law.
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.
Contacts:
Northern Freegold Resources Ltd.
Julie Hajduk
Investor Relations Manager
+1 (604) 893-8757 or Toll Free: 1-877-893-8757
+1 (604) 893-8758 (FAX)
julie@northernfreegold.com
www.northernfreegold.com
