Liberty Gold Provides Update Summary On Operations

VANCOUVER, BC - Liberty Gold Corp. reported that the Black Pine in Idaho began the 16,000 meter (m) Reverse Circulation (RC) drill program in 80 to 100 holes, designed to test an oxide gold system estimated at over 12 square kilometers (km2) in size. In addition it has received approval of a Plan of Operations (PoO) that provides comprehensive access to the 7.3 km2 core of the gold system. 

A 9,600 m RC drill program at the Goldstrike property has commenced pursuant to expanding the existing resource that is included in a recently completed Preliminary Economic Analysis (PEA). The Company secured an Amendment to the PoO2 and received expanded access along the deposit trend, from a fragmented area of approximately 5.11 square kilometers (km2), to a contiguous 8.66 km2 area. The remaining drill results reported from the 2018 RC drill program showed continued southern expansion of the mineralization in the West Goldstrike Deposit: Including highlight intercepts of 0.98 g/t Au over 15.2 m and 0.81 g/t Au over 27.4 m, demonstrating mineralization is higher than average grade, and starts from surface, extending mineralization over 400 m west from the western edge of the historic Beavertail Pit with intercepts of 1.49 g/t Au over 16.8 m including 3.37 g/t Au over 6.1 m in PGS690, and continued to demonstrate the potential of areas currently classified as waste stockpiles within the PEA pit, with the results at Moosehead showing intercepts starting at surface, consisting of strongly oxidized, unconsolidated material. Highlights include 0.52 g/t Au over 12.2 m in PGS663 and 0.31 g/t Au over 18.3 m in PGS664.

The Black Pine (formerly called Mineral Gulch) is a Carlin-style, sediment-hosted gold property located in Cassia County, southern Idaho.  It is host to a past-producing heap leach gold mine that operated from 1991 through 1998.  During this time, it produced approximately 435,000 ounces of gold at a historical grade of 0.7 grams per tonne from seven shallow pits. In June 2016, Liberty Gold acquired the Black Pine Property from Western Pacific Resource Corporation for US$800,000 cash, 300,000 shares of Liberty Gold and a 0.5% NSR reserved to Western Pacific.  At present, the project consists of 400 federal lode claims (31.7 km2). 

The Goldstrike is a Carlin-style, sediment-hosted gold property located in Washington County, southwest Utah (50 km northwest of St. George), with a stratigraphic and structural setting and gold mineralization similar to other sediment-hosted gold systems.  Goldstrike is host to a past-producing mine with an extensive exploration database, a large number of shallow drill holes with unmined oxide gold intercepts, and numerous untested gold targets. Goldstrike was an oxide, heap leach mine from 1988 to 1994. It produced ~209,000 ounces of gold and ~197,000 ounces silver from 8 million tonnes of ore at an average grade of 1.2 g/t gold from 12 shallow pits and closed due to low gold prices and lack of space on the leach pads.

The company’s address is Suite 1900 - 1055 W. Hastings, Vancouver, BC V6E 2E9, (604) 632-4677, www.libertygold.ca.