TMX group

Union Bay Platinum Project, Ketchikan, Alaska

TSX.ITF  OTC BB:FGOVF                           www.freegoldventures.com

VANCOUVER, June 20 /CNW/ - Freegold Ventures Limited and Pacific North
West Capital Corp. are pleased to announce that the US$ 1.1 million drill
program on the Union Bay Platinum Project, fully funded by Lonmin plc., has
commenced. To date, Lonmin has committed US$ 3.9 million to the Union Bay
program.
A total of 10,000 feet of diamond drilling, as well as field work are
budgeted in this phase, which will test five separate target areas identified
from last year's drill program and airborne electromagnetic and magnetic
surveys. The partners expect drill program completion by mid-August of 2005.
The 2004 exploration program consisted of reconnaissance geochemical
sampling, core drilling on the Continental Zone, and a combined airborne
magnetic and multifrequency electromagnetic (EM) survey. Platinum values
ranging from 1 to 14 grams per tonne have been identified in various locations
on the project.
The Union Bay Project is hosted in an Alaska-Ural type zoned ultramafic
complex located at tidewater 35 miles north of Ketchikan, Alaska, and consists
of 711 unpatented Federal lode mining claims covering 15,940 acres, and 6
State of Alaska mining claims covering 240 acres. The project is a joint
venture between Pacific North West Capital Corp., (the Operator), Freegold
Ventures Limited and Lonmin plc. Lonmin may earn up to a 70% interest n the
project by delivering a full feasibility study. Upon the decision by the JV
Management Committee to proceed to place the project into commercial
production, Lonmin will arrange 100% of the required financing.
The qualified person for this release is Peter Dasler, M.Sc., P.Geo, Vice
President Business Development of Pacific North West Capital Corp.

About Freegold Ventures Limited

Freegold Ventures is a gold exploration company with properties located
in Idaho, Alaska and the Yukon. Freegold holds the Golden Summit Project, an
advanced stage exploration gold project northeast of Fairbanks, Alaska. Golden
Summit lies 5 miles north of the current producing Fort Knox Mine, Alaska's
largest gold producer. Freegold's Rob Project is located in the highly
prospective Tintina Gold Belt. The Tintina gold belt has emerged as one of
North America's most important gold districts and hosts a number of gold
deposits throughout the Yukon and Central Alaska, most notably the Fort Knox,
Pogo and Brewery Creek deposits. In addition to its Alaskan gold projects
Freegold holds the Union Bay PGE project, a joint venture with Pacific North
West Capital Corp, and Lonmin plc, the world's third largest producer of
platinum group metals. Lonmin has committed over US$ 3.9 million to the
project to date. The 2005 budget is US$1.1 million and a 10,000 foot diamond
drill program is underway. The Grew Creek Project in the Yukon Territory is
slated for a third round of drilling in the summer and final plans for this
program are in progress.

On behalf of the Board of Directors

(signed)
Harry Barr, Chairman

The Toronto Stock Exchange has neither approved nor disapproved the
contents of this news release. CUSIP: 45953B107

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Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included herein are forward-looking
statements that 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 the Company's expectations are disclosed in the
Company's documents filed from time to time with The Toronto Stock
Exchange, British Columbia Securities Commission and the United States
Securities & Exchange Commission.
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