LOM Initiates Coverage of Northern Freegold Resources Ltd: Conference Call November 8, 2011 at 9:00 AM PST to Update Investors and Introduce Newly Appointed Members of the Management Team

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/01/11 -- Northern Freegold Resources Ltd. (TSX VENTURE: NFR)(OTCBB: NFRGF)(FRANKFURT: 8NG) is pleased to announce that Loewen Ondaatje McCutcheon Limited ('LOM') has initiated equity research coverage of Northern Freegold Resources.

All reports on Northern Freegold Resources prepared by analysts represent the views of such analysts and are not necessarily those of Northern Freegold. Northern Freegold is not responsible for the content, accuracy or timelines of any analyst's website.

Conference Call Tuesday, November 8th 2011 at 9AM PST

Northern Freegold is pleased to give investors an opportunity to call in and participate in an update on the 2011 work program along with an introduction to the recently appointed President & CEO, Mr. John Burges and the VP of Exploration, Dr. Al Armitage. The call has been scheduled for Tuesday, November 8th, 2011 at 9:00 AM PST (12:00 PM EST). Participants may call in to join the conference call at 416-340-2218 or Toll Free 1-866-226-1793. There will be a question and answer period at the end of the call to enable investors to participate. If you are unable to join us at the designated time, please go to our home page at www.northernfreegold.com where you will find the audio copy of the conference call.

Revised Number of Drill Holes Corrected from News Release Dated October 20th, 2011

Please note that the Company wishes to correct the total amount of drill holes from the 2011 program to read twenty-seven instead of the seventeen that were originally announced. Please feel free to visit our website www.northernfreegold.com to see the corrected release or call 604.893.8757 if you have any questions.

About Northern Freegold

Northern Freegold is a well-financed rapidly advancing Canadian-based precious metals exploration and development company. NFR brings local 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 the Revenue target deposit, the Nucleus deposit and the Stoddart Zone are all part of a large scale gold rich porphyry system, which extends in an east-west direction for more than 6 km. The system has the potential to host multi-million ounce gold resources with multi-billion pound copper resources similar to other porphyry deposits in the region.

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:

Northern Freegold Resources Ltd.

Julie Hajduk

Investor Relations Manager

604.893.8757 or Toll Free: 1.877.893.8757

604.893.8758
www.northernfreegold.com