Libero Announces Surface Samples up to 104 Grams per Tonne Gold from Big Red

Libero Announces Surface Samples up to 104

Grams per Tonne Gold from Big Red

VANCOUVER, BC

,

Aug. 23, 2020

/CNW/ -

Libero Copper

& Gold Corporation

(TSXV: LBC)

(OTCQB: LBCMF) (DE: 29H) is pleased to announce high-grade gold assays from surface sampling

that will assist in targeting at the Ridge and ME-18 drill programs at the Big Red Project in the

Golden Triangle. Drilling is currently underway at the fourth hole at Ridge with two holes submitted

for analysis.

HIGHLIGHTS

Ridge surface samples returned up to

104.00 g/t gold

,

35.70 g/t gold

,

33.40 g/t gold

and

15.20

g/t gold

ME-18 surface samples returned up to

19.10 g/t gold

and

15.65 g/t gold

including visible gold in

the highest-grade sample

Geologist mountaineers recently completed mapping and sampling steep, rope access terrain

with additional samples submitted for analysis

Drilling of fourth hole underway at Ridge with samples from first two holes submitted for

analysis

Ridge is a kilometre-long target comprising a high-grade gold rock chip and float anomaly with a

coincident airborne ZTEM conductivity high. Clive's Area, at the western extent of Ridge, is

comprised of north-trending diorite dikes and a monzodiorite plug hosted by clastic sediments of the

Stuhini Group (Figure 1). Of 68 selective grab samples taken from outcrop at

Clive's

Area so far in

2020, 14 returned greater than 1 g/t gold and up to 104.00 g/t gold. Details of these samples are

provided in Table 1 and can be located in Figure 1. These samples are mainly from greywackes and

other sediments with one sample from a monzonite intrusive host. The high-grade samples are

hosted by breccias located along dike margins. Sulphide mineralogy is dominantly pyrrhotite and

pyrite with subordinate arsenopyrite, chalcopyrite and galena. Gold grades are elevated where

sulphides are abundant (Photo 1).

Table 1: 2020 grab samples from outcrop with >1 g/t Au from Clive’s Area at Ridge. (CNW

Group/Libero Copper & Gold Corporation.)

Figure 1: Clive’s area at the Ridge target with diorite dikes and monzodiorite plug hosted by clastic

sediments. (CNW Group/Libero Copper & Gold Corporation.)

Photo 1: 104 g/t gold sample from breccia at Clive’s Area at Ridge. Pyrrhotite, Chalcopyrite and

Arsenopyrite. (CNW Group/Libero Copper & Gold Corporation.)

At ME-18 gold-bearing massive quartz veins are hosted in a diorite plug that has been intruded into

silica-sericite-chlorite-clay altered volcanic rocks of the Stuhini Group. Of the 32 selective grab

samples taken at ME-18 so far in 2020, 8 returned greater than 1 g/t gold and up to 19.10 g/t gold.

Details of these samples are provided in Table 2 and can be located in Figure 2.

Table 2: 2020 grab samples from outcrop with >1 g/t Au from ME-18. (CNW Group/Libero Copper

& Gold Corporation.)

Figure 2: 2020 surface samples and planned drilling at ME-18. (CNW Group/Libero Copper & Gold

Corporation.)

Quality Assurance

All Libero sample assay results have been monitored through a quality control / quality assurance

(QA/QC) program including the insertion of blind standards and coarse blanks. Monitoring of the

2020 surface QA/QC program has determined the results to be of acceptable quality. Samples are

securely transported to ALS Global's sample preparation facility in

Whitehorse

, Yukon. Sample

pulps are analyzed in

North Vancouver, British Columbia

for gold by fire assay using a 30-gram

charge with atomic absorption spectroscopy (AAS) finish. Samples which exceed 9 g/t gold trigger

a 30-gram fire assay with gravimetric finish. Copper and silver content are determined by four-acid

digestion with ICP-AES finish. ALS Global is an independent laboratory. Libero is not aware of any

other factors that could materially affect the accuracy or reliability of the data referred to herein.

About the Big Red Property

Big Red is a new gold discovery located 70 kilometres north of Galore Creek and 100 kilometres

west of

Red Chris

in the Golden Triangle, of northwestern

British Columbia, Canada

. Big Red

comprises 20 contiguous claims, totaling 26,000 hectares, 45 kilometres southwest of

Telegraph

Creek

along the Barrington Tote Road.

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

. Porphyry copper and gold, epithermal gold and silver and volcanogenic massive sulfide styles

of mineralisation have all been recognised within the Golden Triangle. At Big Red porphyry gold-

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

radiometric potassium anomaly, copper, gold, silver and molybdenum geochemical 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.

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For further information:

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

[email protected], liberocopper.com

CO: Libero Copper & Gold Corporation.

CNW 17:40e 23-AUG-20