Liberty Gold Announces Approval of the Fourth Plan of Operations Amendment, Black Pine Oxide Gold Project, Idaho Permitted Exploration Area Increases by 51% to 37.3 km2 with Drilling to Commence mid-June 2024 on Seven High-Priority Targets
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News Release 24-11 June 11, 2024
Liberty Gold Announces Approval of the Fourth Plan of
Operations Amendment, Black Pine Oxide Gold Project, Idaho
Permitted Exploration Area Increases by 51% to 37.3 km2 with Drilling to
Commence mid-June 2024 on Seven High-Priority Targets
VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ( “Liberty Gold ” or the
“Company”) is pleased to announce that it has received from the United State s Forest Service
(“USFS”) the f inal approval for an amendment to the current exploration Plan of Operations
(“POO") at the Black Pine Oxide Gold Project, Idaho (“Black Pine”). This approval authorizes
exploration activities on USFS lands where the Company holds mineral title but was not previously
permitted to drill. Additionally, the Company has added a Director of Regulatory Affairs and
Sustainability to advance mine permitting with the federal and state agencies.
Plan of Operations & Land Position Expansion
This new permit amendment from the USFS expands the current area for permitted exploration
from 24.7 square kilometres (“km2”) by 51% to 37.3 km2 (see Figure 1 below). This will allow the
Company to explore seven new target areas where the prospective and permissive gold host-rock
carbonate sequence (“middle plate”) is known to occur at shallow depth beneath sandstone cover
rock (“upper plate”).
In addition, the amended POO further directs the Bureau of Land Management (“BLM”) to begin
the process of issuing a Hardrock Prospector Permit (“HPP”) over contiguous, highly prospective,
areas. The HPP would open a further 7.1 km2 of ground to approved exploration activities.
The Company has additionally staked 46 unpatented mining claims in the southwest of the project
area, totalling 3.3 km2. These claims are contiguous with the existing project area and cover the
projected southern extension of the prospective middle plate host rock carbonate sequence,
identified by field & structural mapping and soil geochemistry. The newly acquired ground expands
the total project area to 69.3 km2.
Pete Shabestari, Vice President of Exploration commented, “We wish to thank the US Forest Service
for processing this amend ment diligently and efficiently . The amendment approval reflects the
collaborative relationship established with the agencies over the last seven years and the well-managed
and straightforward nature of permitting at Black Pine . With this new approval, we can now turn the
exploration drill rigs towards gold discovery in these highly prospective target areas.”
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FIGURE 1 – BLACK PINE PROJECT AND PERMITTING AREA MAP
For a map showing the Black Pine Project and Permitting area, click here:
https://pr.globenewswire.com/FileDownloader/DownloadFile?source=pnr&fileGuid=1e509dc9-
5811-4b4b-b8ba-deca82cbdbaf
Field Operations 2024
Field operations have begun at Black Pine in earnest, with the first reverse circulation (“RC”) drill
rig expected to arrive mid -June and a second arriving in mid -July. The first phase of planned
exploration drilling is budgeted at 20,000 meters (“m”) and will focus on new discovery in the seven
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outlying target areas with the key objective of growing the current Black Pine resource base which
already exceeds 3 million ounces. (see press release dated February 15, 2024)
Appointment of Matt Zietlow as Director, Regulatory Affairs & Sustainability
The Company is also pleased to announce that Matthew Zietlow has joined Liberty Gold as the
Director, Regulatory Affairs & Sustainability, based in Idaho. He will be responsible for leading the
mine p ermitting process at Black Pine , with the objective of submission of the Mine Plan of
Operations (“MPO”) to the respective regulatory agencies by Q4, 2024.
Mr. Zietlow has over 30 years of experience in mine permitting, operational compliance,
reclamation and closure at multiple active and idled locations throughout the western United
States. He has held senior roles in community affairs, media relations, an d academic advisory
boards related to the mining sector, and also served as State chair of the Nevada Mining
Association Executive Environmental Committee.
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin
of the United States, home to large -scale gold projects that are ideal for open -pit mining. This
region is one of the most prolific gold-producing regions in the world and stretches across Nevada
and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big
gold deposits that can be mined profitably in open-pit scenarios.
For more information, visit libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
All statements in this press release, other than statements of historical fact, are “ forward-looking information” with respect to
Liberty Gold within the meaning of applicable securities laws, the use of proceeds of the offering, the timing and completion of
the Preliminary Feasibility Study, the timing and completion of formal mine permitting, and the potential quantity and/or grade
of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of
words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”,
“believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain
actions, events or results “ may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward -looking
information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management
at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices,
currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental
approvals and financing on time, obtaining renewals for existing licenses and permits and obt aining required licenses and
permits, labour stability, stability in market conditions , the timing and success of future plans and objectives in the areas of
sustainable development, health, safety, environment, community development ; successful resolution of disputes and
anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events
that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially
different from any future results expressed or implied by such forward -looking information, including, risks related to the
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interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s
mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future
prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits;
failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success
of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks
of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors
discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under
Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.
Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to diffe r
materially from those described in forward-looking information, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as
actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims an y
intention or obligation to update or revise any forward -looking information, whether as a result of new information, future
events or otherwise.