Libero Announces Initial Results from Terry Target at Big Red

Libero Announces Initial Results from Terry

Target at Big Red

VANCOUVER, BC

,

July 27, 2020

/CNW/ -

Libero Copper

& Gold Corporation

(TSXV:LBC)

(OTCQB:LBCMF) (DE:29H) is pleased to announce assay results from initial surface sampling at the

Terry target including a 35 metre section where 8 grab samples contain 5.54%, 5.46%, 3.44%,

2.07%, 1.38%, 1.26%, 0.79% and 0.63% copper respectively.

Additional geochemical sampling and mapping follows up on the 19 multi-element geochemical

anomalies identified in the 2019 program (

Figure 1

) and the conductive targets identified by the

recent ZTEM geophysical survey (news release dated

April 14, 2020

). Work commenced at the

lower elevation Terry target while the higher elevation Ridge and Poker targets where still snow

covered.

The Terry target is characterized by a copper-gold surface sample anomaly with anomalous K/Th

detected in airborne radiometrics, on the northeastern edge of the Limpoke Pluton. New sampling

and mapping compliments historic sample results and has delineated two areas within the

radiometric anomaly with elevated copper-gold - Limpoke Cliff and

Terry Creek

. Limpoke Cliff had

not received any previous or historic sampling and new sampling returned up to 5.54% copper.

Mineralization is associated with a felsic porphyry, pegmatitic dikes and a gossan breccia. At Terry

Creek samples returned up to 0.43% copper in volcanics and porphyry intrusives.

Of the 57 grab samples collected from the Terry target area 27 returned above 0.1% copper and, of

these, 11 returned up to 0.3% copper, 9 samples assayed between 0.3% and 1.0% copper and 7

samples graded more than 1.0% copper (Table 1 below). Additionally, anomalous gold graded up to

0.53 g/t gold.

Sample ID

Au (g/t)

Ag (g/t)

Cu (ppm)

A0193601

0.055

9.9

13,750

A0193602

0.086

8.8

7,860

A0193605

0.042

2.0

3,600

A0193606

0.045

2.4

3,260

A0193654

0.530

39.3

12,600

A0193655

0.339

43.8

20,700

A0193657

0.228

6.0

5,220

A0193658

0.079

4.0

3,370

A0193701

0.022

2.0

2,530

A0193702

0.062

2.7

4,290

A0193703

0.034

3.1

6,250

A0193704

0.129

16.5

24,500

A0193705

0.190

42.1

55,400

A0193706

0.090

23.3

34,400

A0193707

0.015

1.5

3,470

A0193710

0.048

1.1

1,320

A0193711

0.052

3.3

4,260

A0193716

0.291

2.1

2,250

A0193723

0.376

3.5

1,860

A0193724

0.062

2.4

2,100

A0193725

0.133

1.5

1,010

A0193751

0.014

1.4

1,180

A0193753

0.116

2.8

1,360

A0193755

0.023

1.6

1,300

A0193757

0.500

43.7

54,600

A0193759

0.019

2.3

2,490

A0193760

0.037

1.1

1,120

Table 1. Assay results for 27 samples collected from the Terry Target containing >0.1 % Cu.

Libero also announces the grant of 400,000 options to consultants, exercisable at a price of

$0.17

until

October 2, 2024

.

About the Big Red Porphyry Gold-Copper Property

Big Red comprises 20 contiguous claims totalling 26,000 hectares in northwestern British Colombia,

45 kilometres southwest of

Telegraph Creek

along the Glenora Road. Big Red lies within the Golden

Triangle 70 kilometres north of Galore Creek and 100 kilometres west of

Red Chris

.

The Golden Triangle is a geological province of prodigious gold and copper mineralisation and host

to some of

Canada's

most famous mines, including Premier,

Red Chris

, Snip, Brucejack and

Eskay

Creek

. Within the Golden Triangle porphyry copper and gold, epithermal gold and silver and

volcanogenic massive sulfide styles of mineralisation have all been recognised. At Big Red the

primary gold-copper targets are peripheral to a distinct large magnetic-high feature and coincide

with a radiometric potassium anomaly, copper, gold, silver and molybdenum anomalies and a

mapped Jurassic aged porphyry intrusion. Please see Libero's

flickr

site for photographs.

About

Libero Copper

& Gold

Libero holds a collection of porphyry deposits throughout the Americas in prolific but stable

jurisdictions. The portfolio includes both exploration properties such as Big Red, a new gold

discovery in the Golden Triangle,

Canada

, and high-quality deposits with significant resources but

without any fatal flaws or significant holding costs. The Tomichi copper deposit in

the United States

and the Mocoa copper deposit in

Colombia

, both contain large inferred mineral resources. In total,

the Mocoa and Tomichi properties contain 7.9 billion pounds of copper and 1.1 billion pounds of

molybdenum. These assets are being advanced by a highly disciplined and seasoned professional

team with successful track records of discovery, resource development, and permitting in the

Americas.

The technical information contained in this news release has been reviewed and approved by

Libero's Executive Vice President of Exploration,

Leo Hathaway P.Geo

., who is a Qualified Person

as defined under NI 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of

this release. This news release includes forward-looking statements that are subject to risks and

uncertainties. All statements within, other than statements of historical fact, are to be considered

forward looking. Although the Company believes the expectations expressed in such forward-

looking statements are based on reasonable assumptions, such statements are not guarantees of

future performance and actual results or developments may differ materially from those in forward-

looking statements. Factors that could cause actual results to differ materially from those in

forward-looking statements include market prices, exploitation and exploration successes,

continued availability of capital and financing, and general economic, market or business

conditions and regulatory and administrative approvals, processes and filing requirements. There

can be no assurances that such statements will prove accurate and, therefore, readers are advised

to rely on their own evaluation of such uncertainties. We do not assume any obligation to update

any forward-looking statements.

SOURCE

Libero Copper

& Gold Corporation.

View original content:

http://www.newswire.ca/en/releases/archive/July2020/27/c8635.html

%SEDAR: 00027216E

For further information:

Ian Slater, Chief Executive Officer, +1 604 638 2545,

[email protected], liberocopper.com

CO: Libero Copper & Gold Corporation.

CNW 17:27e 27-JUL-20