Liberty Gold Closes TV Tower Sale Transaction US$3.7 Million Received at Closing
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News Release 24-19 October 7, 2024
Liberty Gold Closes TV Tower Sale Transaction
US$3.7 Million Received at Closing
VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the
“Company”) is pleased to announce it has closed the previously announced sale of its interest in
the TV Tower copper gold project (“TV Tower ” or the “ Project”), located in Biga Province,
northwest T ürkiye (see press release dated April 17, 2024) and has received US$3.7 million
representing the Company’s share of the payment due upon closing. There is no share dilution
associated with this asset sale.
Liberty Gold’s share of the remainder of the gross proceeds will be paid in two stages as follows:
• US$2.2 million on October 4, 2025.
• US$2.6 million on October 4, 2026.
Cal Everett, CEO and Director of Liberty Gold commented, “The closing of the TV Tower transaction
has completed the monetization process of all of Liberty Gold’s Turkish assets and removes the
approximate one million dollar annual funding draw. It enables the Company to focus solely on
advancing its projects in the Great Basin. The Company is nearing completion of a Pre-Feasibility study
of the Black Pine Oxide Gold Project in Idaho.”
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 , including but not limited to; the payment of future staged proceeds of the Transaction, the
exploration and development of open pit oxide deposits in the Great Basin, and the discovery and advancement of gold deposits in the Great
Basin. Forward-looking
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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", 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 obtaining required licenses and permits, labour stability, stability in market conditions, availability
of equipment, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. 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 interpretati on of results and/or the
reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes i n 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; the timing of the publication of any updated resources;
delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining
governmental approvals, financing or in th e completion of exploration 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 any intention or obligation to update or revise any forward-
looking information, whether as a result of new information, future events or otherwise.