Liberty Gold Commences 40,000 Meter Feasibility Drill Program and Bulk Metallurgical Sampling at the Black Pine Oxide Gold Project, Idaho VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the
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News Release 25-11 May 13, 2025
Liberty Gold Commences 40,000 Meter Feasibility Drill Program and Bulk
Metallurgical Sampling at the Black Pine Oxide Gold Project, Idaho
VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the
“Company”), has commenced feasibility fieldwork at its Black Pine O xide Gold Project (“Black
Pine”) in southeastern Idaho. This program confirms initiation of a formal feasibility study on Black
Pine. Technical data collected will support feasibility-level engineering studies, planned to begin in
Q4 2025. In parallel, baseline studies are underway to complete the Company’s extensive
environmental dataset, which will underpin preparation of the draft Environmental Impact
Statement (“EIS”) for Black Pine, also beginning in Q4 2025.
2025 WORKPLAN HIGHLIGHTS
• One reverse circulation (“RC”) exploration drill is currently active, with a second RC drill rig
scheduled to arrive by the end of May. The ~40,000-meters (“m”) drill program is focused
on resource upgrade and extensions to mineralization in the Discovery, Rangefront, CD and
M Zone areas (See Figure 1: Planned Drillhole Locations). Key objectives include:
o Drilling for near surface oxide gold mineralization in the Rangefront zone (>1 million
ounce resource 1) which remains open in all directions. (See Figure 2 : Rangefront zone
Section)
o Infill drilling in the main Discovery zone to convert ounces to the measured category and
to confirm geo-metallurgical domain modelling.
o Drilling along the CD to F Zones for resource conversion to the indicated category and to
further delineate the extent of mineralization to the southeast and northwest where it
remains open.
• A Sonic drill rig has begun a comprehensive drill test of the legacy Heap Leach Pad (“HLP”)
to define the characteristics of the material and assess remnant ounces of gold to add to the
current mine plan. This program is expected to be approximately 1,200 m over 20 holes, to
be completed in two increments, to allow for assay results in advance of drill hole planning
for the second part of the study.
• Two phases of metallurgical studies are planned: Phase 6 is a surface bulk sampling program
to support large diameter column testing and Phase 7 is metallurgical studies including
material from a lower grade set of oxide composites to assess recoveries in an eventual
mining scenario.
• Hydrologic study work which includes additional monitoring wells and large scale aquifer
pump testing to determine hydraulic conductivity of both the local bedrock aquifer and
alluvial aquifer, as well as potential degree of connectivity.
1 See technical report “Black Pine Project NI 43-101 Technical Report, Oneida County, Idaho, USA”, effective June 1, 2024, and dated November 21, 2024, prepared by Valerie Wilson, P.Geo. SLR Consulting Ltd.;
Todd Carstensen, RM-SME AGP Mining Consultants Inc.; Gary Simmons, MMSA GL Simmons Consulting, LLC; Nicholas T. Rocco, Ph.D., P.E. NewFields Companies LLC; Benjamin Bermudez, P.E. M3 Engineering &
Technology Corp.; Matthew Sletten, P.E. M3 Engineering & Technology Corp.; John Rupp, P.E. Piteau Associates Ltd. ; Daniel Yang, P.Eng., P.E. Knight Piésold Ltd.; Richard DeLong, M.Sc. Westland Engineering &
Environmental Services Inc. on the Company’s profile on SEDAR+ at www.sedarplus.ca and press release dated October 10, 2024.
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• An extensive site investigation into the soils and bedrock properties on the proposed
infrastructure locations and potential borrow sites.
FIGURE 1: PLANNED DRILLHOLE LOCATIONS
Jon Gilligan, President and COO of Liberty Gold: “We are thrilled to be starting this year of fully funded work
at Black Pine with our target of delivering an updated Feasibility level resource towards the end of the year and a
Feasibility Study in the second half of 2026. Black Pine continues to impress with the extent of the gold system
and this year should highlight the project as the premier gold development project in the Great Basin . In parallel,
we are well underway with the mine permitting process having submitted our draft Mine Plan of Operations earlier
this year and preparing to commence work on the draft EIS in close collaboration with Federal and state
regulators.”
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FIGURE 2: RANGEFRONT ZONE SECTION
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. The Company is advancing the Black Pine Project in southeastern Idaho,
a past-producing, Carlin-style gold system with a large, growing resource and strong economic
potential. We know the Great Basin and are driven to discover and advance big gold deposits that
can be mined profitably in open-pit scenarios and in an environmentally responsible manner.
For more information, visit libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the
meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the
information contained in the release is accurate.
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws,
including statements or information concerning, future financial or operating performance of Liberty Gold and its business, o perations,
properties and condition; planned de-risking activities at Liberty Gold’s mineral properties; the potential quantity, recoverability and/or grade
of minerals; the potential size of a mineralized zone or potential expansion of mineralization; proposed exploration and development of Liberty
Gold’s exploration property interests; the results of mineral resource estimates or mineral reserve estimates and preliminary feasibility studies;
and the Company’s anticipated expenditures.
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
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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 me tal prices,
currency exchange rates and interest rates, favourable operating conditions, political sta bility, timely receipt of governmental or regulatory
approvals, including any stock exchange approvals ; receipt of a 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, results or timing of any mineral
resources, feasibility study, EIS, mineral reserves, or pre-feasibility study; 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 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 refi ned; 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 or results of the publication of any mineral resources,
mineral reserves EIS or feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals, financing, timing of the completion of exploration as well as those factors discussed
in the Annual Information Form of the Company dated March 25, 2025, 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 -l o o k i n g i n f o r m a ti o n , t h e r e m a y b e o t h e r f a c t o r s t h a t c a u s e a c ti o n s , e v e n t s o r r e s u l t s 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, except for material differences between actual results
and previously disclosed material forward-looking information, or as otherwise required by law.
E x c e p t f o r s t a t e m e n t s o f h i s t o r i c a l f a c t , i n f o r m a ti o n c o n t a i n e d h e r e i n o r i n c o r p o r a t e d b y r e f e r e n c e h e r e i n c o n s ti t u t e s forward-looking
statements and forward -looking information. Readers should not place undue reliance on forward- looking information. All forward-looking
statements and forward-looking information attributable to us is expressly qualified by these cautionary statements.
Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources
The information, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian
securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of sec urities laws in
effect in Canada, which differ from the requirements of United States securities laws.
Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “mineral
reserves”. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references
the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards, adopted by the
CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States
Securities and Exchange Commission (the “SEC”) in Regulation S -K Subpart 1300 (the “SEC M odernization Rules”) under the United States
Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral
properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.