Maiden Resource Estimate For Goldstrike Deposit

VANCOUVER, BC - Liberty Gold Corp. reported a maiden independent resource estimate at its Goldstrike Oxide Gold project in southwestern Utah. This resource estimate crystallizes 3 years of data compilation and drilling, and is a strong foundation on which to layer engineering, metallurgical studies, as well as ongoing expansion drilling.  It is a key asset in Liberty Gold’s portfolio of advanced-staged, Carlin-style gold projects in the Great Basin of the United States.

The Classified Mineral Resource estimate is quoted at a cut-off grade of 0.25 grams per tonne gold (g/t Au) and consists of: An indicated resource of 865,000 ounces of gold at an average grade of 0.54 g/t Au (49,553,000 tonnes); and an inferred resource of 274,000 ounces of gold at an average grade of 0.52 g/t Au (16,443,000 tonnes).

Commenting on these results, Cal Everett, President and CEO of Liberty Gold stated, “We are thrilled to release the first resource estimate for our flagship Goldstrike Property, the result of three years of hard work by our brilliant geological team.  We have exceeded our initial resource target expectation and will continue to drill and expand the Goldstrike Deposit as well as the new discoveries that surround it. This is an important first step in turning a 24 year-old, past-producing mine into a modern, multi-million ounce mining project.”

Drilling will recommence on approximately March 1, 2018. Drilling will focus on expanding the resource, as well as testing of new targets property-wide. Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend.  Like Kinsley Mountain and Newmont’s Long Canyon deposit, Goldstrike represents part of a growing number of Carlin-style gold systems located off the main Carlin and Cortez trends in under explored parts of the Great Basin.  The historic Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au and an average recovery of approximately 75%.