Final 2020 Results From Metallurgical Core Drilling at Black Pine

VANCOUVER - Liberty Gold Corp. reported drill results from the five final metallurgical diamond drill holes at its Carlin-style Black Pine oxide gold property in southern Idaho. These holes complete the 2020 core drilling program, composed primarily of large diameter holes to be used for metallurgical column testing. Significant oxide gold intercepts were obtained from the D-2, D-3, and historical CD Pit and E Pit areas. Drilling in the vicinity of the historic pits will significantly expand the scope of metallurgical column testing at Black Pine.

“We are happy to have all the results in from our 2020 core drilling program, so that we can proceed with the rest of our Phase 3 metallurgical testing,” said, Cal Everett, President and CEO. “The first modern resource estimate at Black Pine is in process and a preliminary economic assessment (‘PEA’) has been initiated concurrently, in order to accelerate our development timeline. Our objective is to fast-track Black Pine with key deliverables forthcoming by mid-year.”

Key Points: Core holes in the D-2 and D-3 zones complete the metallurgical drilling in the Discovery Focus Area.  Forty-three new column tests will be completed, which will inform a Prefeasibility decision in Q3, 2021; Core holes in the E Pit and CD Pit areas represent the first core drilling in these areas and will add to the geographical distribution of composites critical to characterizing the overall metallurgical variability of the Black Pine gold system; Cyanide-soluble assays for the highlight intervals in LBP231C returned weighted averages of 92% and 72% of fire assay. The highlight intervals in LBP242C returned weighted averages of 88% and 89% of fire assay, both attesting to the thoroughly oxidized nature of gold mineralization; Composites from the holes will be added to those already in the lab undergoing metallurgical column testing at KCA Laboratory, Reno, Nevada ; Mine Development Associates, a division of RESPEC Company LLC. in Reno, Nevada, has been retained for the resource estimate.  SLR Consulting Ltd. (SLR) of Toronto, Ontario, will audit the resource; and SLR is the lead consulting group for the PEA, with contributions from Golder Associates Inc., KCA, Stantec Inc. and other consultants.