Freegold Ventures - Shorty Creek potential validated by South32

Freegold Ventures has granted South32 (an A$19.0bn market cap major demerged from BHP in 2015) an option to earn up to a 70% interest in Shorty Creek by investing US$30m, of which at least US$10m will be in the form of exploration expenditure. Freegold will remain the operator. However, South32's (time deferred) option effectively represents a validation of the exploration potential at Shorty Creek and (significantly) allows it to be further explored and validated with no further share dilution to Freegold investors.

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