Liberty Gold Confirms Robust Gold Leach Recoveries at Black Pine 85.2% weighted average gold extraction in Rangefront Zone (7 columns) 80.5% weighted average gold extraction in Discovery Zone (15 columns)
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News Release 25-20 September 24, 2025
Liberty Gold Confirms Robust Gold Leach Recoveries at Black Pine
85.2% weighted average gold extraction in Rangefront Zone (7 columns)
80.5% weighted average gold extraction in Discovery Zone (15 columns)
VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to report results from its Phase 5B metallurgical program at the Company’s
Black Pine Oxide Gold Project (“Black Pine”) in southeast Idaho . The new results confirm
consistent, predictable gold recoveries across the primary ore bodies at Black Pine, further
supporting a low cost, run-of-mine (“ROM”) heap leach processing flowsheet.
Highlights
• Consistent Gold Extractions and Leach Performance: Weighted average column leach gold
extraction of 8 1.9% at an average head grade of 0.65 parts per million (“ppm”) gold (“Au”),
with individual composites ranging from 52% to 94.5%. Phase 5 B composites exhibit the
typical Black Pine leach result of greater than 80% of the eventual gold extraction achieved in
under 10 days.
o The feasibility recovery model has been updated with these new results and shows gold
recoveries in line or slightly better than previous results across Rangefront and Discovery
Zones.
• Corroborated Bottle Roll Data: Gold extractions from direct leach coarse crush bottle rolls
(P80 of 1.68 millimeters (“mm”)) are aligned with column leach results (P80 of 16.9mm) at 78.4%
vs 81.9%, respectively.
o This relationship further validates that gold leaching at Back Pine is highly insensitive to
crush size.
• Confirmation of Recovery in Primary Mining Phases: Phase 5 B testing focused on infill
sampling within the primary mining phases of Rangefront and Discovery Zones.
o Feasibility level metallurgical work will be completed in H1, 2026. It is anticipated that
with resource growth at Rangefront, additional test work may be required to achieve
variability coverage.
See https://vrify.com/decks/20140 for a dynamic 3D view of the composite sample locations
from the comprehensive metallurgical program across the Black Pine Oxide Gold Project.
Jon Gilligan, President and CEO, Liberty Gold, commented, “We are nearing completion of our
comprehensive metallurgical program at Black Pine. Column gold extractions of 80 to 90 percent with
rapid leach kinetics underscore the significant potential of this oxide gold asset. These results also
confirm Rangefront as the premier leaching ore at Black Pine with up to a 10 percent recovery
improvement over the Discovery zone. We look forward to further results from the bulk sample, large
diameter columns and the ongoing work at Rangefront as it grows to potentially become the most
significant gold mineralized zone at Black Pine.”
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Phase 5B Metallurgical Test Summary
The Phase 5B program was designed to improve sample coverage in the main deposit areas and
confirm consistency of gold extraction within the main rock types. Figure 1 below illustrates drill
locations for the Phase 5B variability composite metallurgical core holes. Metallurgical composites
were made up from PQ sized core drilled in 2023. A total of 22 column leach tests were completed
in Phase 5B, under standard test conditions for Black Pine oxide gold material, with results
summarized below in Table 1.
Figure 1 – Summary Map of Black Pine Metallurgical Program Sample Locations
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Table 1 – Weighted Average Gold Extraction Results by Zone – Coarse Bottle Roll and Column
Leach Tests
Coarse Bottle Roll Column Leach Tests
Feed Target P80 (1.7 mm) Average P80 (16.9 mm)
Zone
Average Calculated Head
Grade Au (ppm)
Weighted Average
Direct Leach Bottle
Roll Au Extraction (%)
Average Calculated
Head Grade Au (ppm)
Average Column Leach
Au Extraction (%)
Rangefront 0.61 85.0% 0.58 85.2%
Discovery 0.71 75.7% 0.68 80.5%
All Zones 0.68 78.4% 0.65 81.9%
Notes: Average Calculated Head Grade is the average of the composite bottle roll or column head grades tested
within each zone. Detailed sample-level results are provided in Table 2 below.
Silver
Column leach tests showed silver (“Ag”) extractions up to 68.1%, with an average of 19%. These
silver grades and extractions are in line with previous results.
Interpretation
• Phase 5B gold extractions are in line with or slightly better than previous metallurgical
testing results from both Discovery and Rangefront Zones, verifying strong recovery in the
two largest mining phases at Black Pine (Figure 2).
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Figure 2 – Grade vs. extraction for Phase 5A and 5B results
The consistent correlation between bottle roll and column leach data continues to reinforce that
gold extraction is insensitive to particle size. This insensitivity supports the feasibility of low-cost,
ROM leach processing for Black Pine oxide ores.
Ongoing Metallurgical Programs
Liberty Gold has an ongoing feasibility-level metallurgical program for Black Pine:
• Phase 6: Seven (Six in-pit and one surface) 20 tonne ROM surface bulk samples sourced from
the main mineralized lithology types, are being tested in Pilot-Scale columns (4 feet diameter
x 20 feet high) at Kappes, Cassiday & Associates (“KCA”) in Reno.
o Three bulk samples are currently under leach and the remaining four are in preparation.
Results are expected in H1 2026.
• Phase 7: Nine cut-off grade variability composites currently under column leach. These tests
are to verify gold extraction at the lowest end of the grade/recovery curve in the current
recovery model.
o Leaching of these columns will be completed in September and reported in Q4, 2025.
• Phase 8: 24 sonic drill holes (~1,400 meters) have been completed in the legacy heap leach
pad, with initial gold assays received. This material will be tested for the potential to act as
over-liner material and also as direct leach feed.
o Metallurgical composites have been shipped to Newfields and Forte Dynamics and test
work will begin late in Q3 2025.
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These programs are designed to finalize predicted gold leach recoveries and optimize process
design criteria as inputs to the Feasibility Study targeted for completion in Q4 2026. Additional
phases of metallurgical work are being evaluated for improved recovery model precision going
into detailed mine/process design and eventual production.
Table 2 – Phase 5B Gold Extraction Results
Coarse Bottle Roll Column Leach Tests
Feed Target P80 (1.7mm) Average P80 (16.9mm)
Zone
Average Calculated
Head Grade Au (ppm)
Weighted
Average Direct
Leach Bottle Roll
Au Extraction (%)
Average Calculated
Head Grade Au (ppm)
Average Column
Leach Au
Extraction (%)
Rangefront 0.814 93.4 0.685 94.5
Rangefront 0.573 83.2 0.570 85.8
Rangefront 0.217 66.3 0.252 52.0
Rangefront 0.219 75.9 0.204 77.9
Rangefront 0.498 81.2 0.472 80.7
Rangefront 1.439 85.5 1.318 87.0
Rangefront 0.540 87.2 0.567 90.7
Discovery 0.250 75.3 0.237 77.6
Discovery 1.212 88.9 1.201 91.6
Discovery 0.395 73.4 0.443 82.6
Discovery 0.483 83.9 0.450 86.0
Discovery 0.387 72.6 0.335 79.7
Discovery 0.371 57.1 0.355 61.7
Discovery 1.090 47.4 1.031 55.5
Discovery 0.377 72.1 0.355 74.7
Discovery 1.402 66.2 1.354 72.2
Discovery 0.634 79.1 0.587 83.3
Discovery 0.348 82.6 0.355 88.2
Discovery 0.371 54.7 0.331 64.4
Discovery 1.908 90.3 1.779 93.5
Discovery 1.150 84.2 1.079 87.5
Discovery 0.264 77.7 0.259 83.4
Averages 0.679 ppm Au 78.4% 0.646 ppm Au 81.9%
Footnote: ppm = parts per million or grams per tonne (g/t)
Quality Assurance – Quality Control
All metallurgical work at Black Pine was conducted at KCA Labs in Reno and is supervised by Gary
Simmons, MMSA, formerly Director of Metallurgy and Technology for Newmont Mining Corp. Mr.
Simmons has managed metallurgical programs on multiple Carlin-style oxide deposits in the Great
Basin.
Richard Zaggle, SME-RM, Senior Director, Mining and Metallurgy for Liberty Gold, is the Qualified
Person responsible for reviewing and approving the technical content of this release.
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ABOUT LIBERTY GOLD
Liberty Gold is focused on 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 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
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