Northern Freegold Resources Ltd. Joins OTCQX

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/07/12 -- Northern Freegold Resources Ltd. (TSX VENTURE: NFR) (OTCQX: NFRGF) (FRANKFURT: 8NG) is pleased to announce that the OTC Markets Group Inc., (OTCQX: OTCM) the financial information and technology services company that provides the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, has listed our securities for trading on the highest tier of the OTC market, OTCQX®.

'The OTCQX platform supports a transparent marketplace with high quality issuers, financial information disclosure and efficient trading for U.S. investors,' said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. 'We are pleased to welcome Northern Freegold to OTCQX.'

Northern Freegold began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

'We are delighted to begin trading in the U.S. on the OTCQX,' said John Burges, President & CEO of Northern Freegold. 'One of my priorities is to make it as easy as possible for investors to buy Northern Freegold stock. Our trading on OTCQX should, over time, help improve our presence in the U.S., which will offer significant benefits to all shareholders.'

Dorsey & Whitney LLP will serve as Northern Freegold's Principal American Liaison ('PAL') on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities laws.


About Northern Freegold Resources Ltd.

Northern Freegold Resources Ltd. (TSX VENTURE: NFR) (OTCQX: NFRGF) (FRANKFURT: 8NG) trades in the United States on OTCQX under the symbol 'NFRGF', and in Canada on the TSX Venture under the symbol 'NFR'. Northern Freegold is a well-financed, 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 economic mineral resources on the district-scale Freegold Mountain gold and copper project in the Yukon and the Burro Creek gold and silver property in Arizona. Management believes its Freegold Mountain Project is part of a large scale gold-rich porphyry system, which extends in an east-west direction for more than 8km. The system shows the same geological characteristics to other porphyry deposits in the region which host multi-million ounce gold resources and reserves with multi-billion pound copper resources.


About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link™ platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. We categorize the wide spectrum of OTC-traded companies into three tiers - OTCQX (the intelligent marketplace), OTCQB® (the venture marketplace), and OTC Pink™ (the open marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com.

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On behalf of the Board of Directors

John Burges
President and CEO



Cautionary Note Regarding Forward-Looking Statements

The information in this press release includes certain 'forward-looking statements' All statements, other than statements of historical fact, included herein including, without limitation, plans for and intentions with respect to the company's properties, statements regarding intentions with respect to obligations due for various projects, strategic alternatives, quantity of resources or reserves, timing of permitting, construction and production and other milestones, are forward looking statements. Statements concerning Mineral Reserves and Mineral Resources are also forward-looking statements in that they reflect an assessment, based on certain assumptions, of the mineralization that would be encountered and mining results if the project were developed and mined in the manner described. Forward-looking statements 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 NFR's expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies and First Nation groups in the exploration, and development of properties; and the need to obtain permits and governmental approval. NFR's forward looking statements reflect the beliefs, opinions and projections of management on the date the statements are made. NFR assumes no obligation to update the forward looking statements if management's beliefs, opinions, projections, or other factors should they change.

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:

Media Contact:
OTC Markets Group Inc.
Grace Keith
+1 (212) 896-4428
race@otcmarkets.com
www.otcmarkets.com

Northern Freegold Resources Ltd.
Julie Hajduk
Manager of Investor Relations
+ (604) 893-8757 or Toll Free: 877-893-8757
(604) 893-8758 (FAX)
julie@northernfreegold.com
www.northernfreegold.com