Liberty Gold Extends Shallow High-Grade Oxide Gold Mineralization at Rangefront Focus Area, Black Pine LBP554: 1.49 g/t Au over 54.9 m from ~80 m below surface LBP565: 0.34 g/t Au over 115.8 m from ~40 m below surface
Page 1 of 6
News Release 22-09 April 12, 2022
Liberty Gold Extends Shallow High-Grade Oxide Gold
Mineralization at Rangefront Focus Area, Black Pine
LBP554: 1.49 g/t Au over 54.9 m from ~80 m below surface
LBP565: 0.34 g/t Au over 115.8 m from ~40 m below surface
VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to announce the first tranche of reverse circulation (“RC”) drill results from
the 2022 winter program in the Rangefront Focus Area (“RFA”) at the Black Pine oxide gold deposit
in southern Idaho (“Black Pine”) . The winter program in the RFA focused on both step -out and
resource definition drilling. An additional 23 RFA drill holes are pending.
Today’s drill results further define and expand the higher-grade core zone within the RFA to an area
of approximately 500 meters (“m”) by 1 kilometer (“km”) with high-grade drill intercepts ranging
from 20 to 115 m in length. The mineralization trends shallower as drilling expands the footprint
east toward the current Rangefront resource pits and to the north towards the historic heap leach
pad. The lower-grade mineralized envelope surrounding the high- grade core is also closer to
surface. This should have a positive impact on strip ratio in a future mining scenario.
Resource definition drilling exceeded expectations in delivering additional high-grade oxide gold
intercepts at shallow depths and confirmed multiple zones of greater than 100 m intercepts of
continuous mineralization. Today’s results from step-out drilling suggest that gold mineralization is
open to the north and west . Results are pending from step -out drilling to the northeast .
Additionally, s hallow historic drilling indicates t hat mineralization is open to the east, where an
expansion to the Plan of Operations is underway to facilitate access for drilling later in the year.
Cal Everett, President and CEO for Liberty Gold stated, “Favourable weather conditions and a mild
winter season at Black Pine led to an efficient drill campaign through the early part of the year, with
12,400 m drilled in 42 holes in the RFA in January and February. Drill results continue to encounter
multiple thick intercepts of oxide gold in virtually ever y hole as we increase our confidence and
extend the size of this new discovery. RFA mineralization also continues to migrate closer to surface
as the high -grade core zone extends to the east and to the north. On completion of the recent
C$30M financing, Liberty has a strong treasury to support our exploration and development efforts
on both Black Pine and Goldstrike. Four drills are currently operating split between the two
deposits.”
For a map and a cross sections of the RFA, please click here:
https://libertygold.ca/images/news/2022/April/BlackPine_NR04122022MapSection.pdf
For a full table of results for this release, please click here:
https://libertygold.ca/images/news/2022/April/BlackPine_NR04122022CurrentAssays.pdf
Page 2 of 6
RANGEFRONT FOCUS AREA HIGHLIGHTS:
• Winter drilling in the RFA focused on resource definition in the central part of the zone and
step-out drilling, particularly to the northwest and northeast.
• Drill results exceeded expectations in delivering additional high-grade oxide gold intercepts
at relatively shallow depths and multiple +100 m intercepts of continuous mineralization.
• The core zone within the RFA now encompasses an area of approximately 500 m x 1 km.
• The core zone has been extended to the east, as evidenced by LBP554 which delivered a
long interval of high-grade gold mineralization starting from a projected depth of 80 m.
• LBP565 continued to expand the core zone to the north towards the historic heap leach pad,
with mineralization starting at a projected depth of 40 m.
• LBP539 (18.3 m grading 1.53 grams per tonne gold (“g/t Au”)) and LBP557 (16.8 m grading
1.34 g/t Au) extend high- grade mineralization in a north-westerly direction, with
mineralization open to the west and northwest
• Results are pending in a north-easterly direction. An amendment to the Plan of Operations
is pending to allow further access in this direction, as well as along the eastern edge of the
RFA where historic shallow drill holes bottom in mineralization.
• Assay results for a further 23 holes within the RFA drilled in Q1-2022 are pending.
• Drilling continues at Black Pine with 2 drills currently focused on a new area between the
historic Tallman and CD pits.
RANGEFRONT FOCUS AREA HIGHLIGHT TABLE1
Hole ID (Az, Dip)
(degrees)
From
(m) To (m) Intercept
(m)
Au
(g/t)
Cut-
off Au
(g/t)
Hole
Length
(m)
Target Comments
LBP531A (0, -55) 161.5 179.8 18.3 0.24 0.15
335.3 Rangefront Resource Definition
including 164.6 176.8 12.2 0.28 0.20
and 187.5 211.8 24.4 0.28 0.15
including 193.5 208.8 15.2 0.34 0.20
and 224.0 248.4 24.4 0.55 0.15
including 224.0 242.3 18.3 0.68 0.20
and including 224.0 228.6 4.6 1.39 1.00
LBP532 (270, -50) 167.6 185.9 18.3 0.20 0.15
306.3 Rangefront Resource Definition and 227.1 257.6 30.5 0.66 0.15
including 228.6 249.9 21.3 0.86 0.20
and including 240.8 246.9 6.1 2.06 1.00
LBP536 (180, -70) 83.8 94.5 10.7 0.35
0.15
300.2 Rangefront Central Resource Definition
and 102.1 111.3 9.1 0.38
and 190.5 217.9 27.4 0.65
including 190.5 202.7 12.2 0.94 0.20
and including 190.5 199.6 9.1 1.15 1.00
including 208.8 216.4 7.6 0.69 0.20
and including 211.8 213.4 1.5 1.12 1.00
and 251.5 266.7 15.2 0.39 0.15
LBP539 (310, -50) 217.9 257.6 39.6 0.28 0.15
385.6 Rangefront Central Step-Out including 228.6 257.6 29.0 0.33 0.20
and 326.1 344.4 18.3 1.53 0.20
including 327.7 339.9 12.2 2.06 1.00
Page 3 of 6
RANGEFRONT FOCUS AREA HIGHLIGHT TABLE1 (Continued)
Hole ID (Az, Dip)
(degrees)
From
(m) To (m) Intercept
(m)
Au
(g/t)
Cut-
off Au
(g/t)
Hole
Length
(m)
Target Comments
LBP540 (315, -55) 83.8 109.7 25.9 0.21 0.15
336.8 Rangefront North Resource Definition
and 150.9 169.2 18.3 0.23 0.15
and 187.5 292.6 105.2 0.38 0.15
including 205.7 266.7 61.0 0.51 0.20
and including 239.3 246.9 7.6 1.18 1.00
LBP543 (340, -90) 68.6 80.8 12.2 0.29 0.15
396.2 Rangefront Central Resource Definition
including 74.7 80.8 6.1 0.39 0.20
and 150.9 192.0 41.1 0.30 0.15
including 161.5 189.0 27.4 0.36 0.20
and 263.7 288.0 24.4 0.56 0.15
including 263.7 283.5 19.8 0.65 0.20
and including 265.2 269.7 4.6 1.71 1.00
LBP551 (50, -80) 149.4 201.2 51.8 0.25 0.15
361.2 Rangefront Central Resource Definition and 228.6 243.8 15.2 0.39 0.15
and 278.9 292.6 13.7 0.25 0.15
LBP552 (0, -80) 39.6 57.9 18.3 0.25 0.15
300.2 Rangefront Central Resource Definition
and 91.4 96.0 4.6 0.46 0.20
and 111.3 115.8 4.6 0.52 0.15
including 111.3 114.3 3.0 0.70 0.20
and 129.5 137.2 7.6 0.34 0.15
including 129.5 132.6 3.0 0.57 0.20 and 161.5 198.1 36.6 0.30
and 237.7 248.4 10.7 0.49 0.15
including 239.3 246.9 7.6 0.61 0.20
LBP554 (170, -45) 128.0 137.2 9.1 0.84 0.20
294.1 Rangefront Central Resource Definition
including 134.1 135.6 1.5 1.39 1.00
and 144.8 199.6 54.9 1.49 0.15
including 144.8 192.0 47.2 1.71 0.20
and including 147.8 160.0 12.2 3.99 1.00
and including 150.9 152.4 1.5 5.41 5.00 and including 155.4 157.0 1.5 5.17
and including 166.1 175.3 9.1 1.83 1.00
and 219.5 248.4 29.0 0.35 0.15
LBP557 (225, -68) 160.0 170.7 10.7 0.32 0.20 281.9 Rangefront
Northwest Step-Out and 214.9 231.6 16.8 1.34
including 214.9 227.1 12.2 1.59 1.00
LBP565 (45, -45) 51.8 62.5 10.7 0.39 0.20
294.1 Rangefront North Step-Out
and 80.8 196.6 115.8 0.34 0.15
including 131.1 196.6 65.5 0.41 0.20
and including 138.7 140.2 1.5 1.72 1.00 and including 193.5 195.1 1.5 1.07
and 228.6 246.9 18.3 0.35 0.15
Page 4 of 6
RANGEFRONT FOCUS AREA HIGHLIGHT TABLE1 (Continued)
Hole ID (Az, Dip)
(degrees)
From
(m) To (m) Intercept
(m)
Au
(g/t)
Cut-
off Au
(g/t)
Hole
Length
(m)
Target Comments
LBP567 (340, -60) 41.1 48.8 7.6 0.54 0.20
221.0 Rangefront Resource Definition
and 54.9 140.2 85.3 0.30 0.15
including 56.4 64.0 7.6 0.47 0.20
and 158.5 178.3 19.8 0.31 0.15
including 161.5 172.2 10.7 0.43 0.20
and including 166.1 167.6 1.5 1.21 1.00
1Liberty Gold has changed the reporting cut -offs to include a 0.15 g/t Au cut -off, to reflect the lower cut -offs used by most operating
oxide heap-leach mines in the Great Basin. The 0.15 g/t Au cut off is not shown in the table if it is identical to the corresponding interval
using a 0.2 g/t Au cut-off. Downhole thickness are reported herein; true width varies depending on drill hole dip , but generally ranges
from 60% to 80% of true thickness. Gold grades are reported uncapped Some oxide intervals report reduced cyanide solubility; a full
investigation is underway. For a full table of results for the 19 new holes in this release, please see the link above.
2022 WORK PROGRAM
The 2022 exploration program at Black Pine commenced in January, with three RC and one core rig
active. Drilling through to the end of February focused on the lower-elevation RFA and M Zone with
the goal to continue resource expansion and confirmation, with the core drill focused on
metallurgical testing. On March 1, two drills w ere moved to Goldstrike to commence engineering,
resource upgrade and metallurgical drilling, while two drills remain at Black Pine to focus on step -
out drilling and new target testing.
Liberty Gold plans to aggressively advance Black Pine in 2022 with dr illing, initial engineering and
permitting programs and further de-risking activities, with the goal to provide an updated resource
estimate and Preliminary Economic Assessment in the second half of 2022, subject to further
positive drill results.
ABOUT BLACK PINE
Black Pine is located in the northern Great Basin, immediately adjacent to the Utah/Idaho border.
It is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s
Carlin trend. Like Nevada Gold Mines’ Long Canyon deposit, Black Pine represents a growing
number of Carlin-style gold systems located off the main Carlin and Cortez trends in underexplored
parts of the Great Basin. The historic Black Pine Mine operated from 1992 to 1997, during a period
of historically low gold prices, with 435,000 ounces of gold produced from five composite, shallow
pits, with an average head grade of 0.63 g/t Au.
A mineral resource estimate containing an indicated mineral resource of 1,715,000 ounces of gold
at an average grade o f 0.51 g/t Au and totalling 105,075,000 tonnes; and an inferred mineral
resource of 370,000 ounces of gold at an average grade of 0.37 g/t Au and totalling 31,211,000
tonnes was released on July 13, 2021, with the resource technical report filed on SEDAR on August
19, 2021, and available on the Liberty Gold website.
A virtual site tour and 3D model of Black Pine property, including details about the geology and
mineralization, is available on the homepage of the Company’s website: libertygold.ca
Page 5 of 6
QUALITY ASSURANCE – QUALITY CONTROL
Drill composites were calculated using cut-offs of 0.15 g/t Au, 0.20 g/t Au, 1.0 g/t Au and 5.0 g/t Au.
Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary
between 30 % and 100% of the reported lengths due to varying drill hole orientations but are
typically in the range of 60 % to 80% of true width. Drill samples were assayed by ALS Limited in
Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over
5.0 g/t Au were re- assayed and completed with a gravimetric finish. For these samples, the
gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10
ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN
solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed
by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and
continual monitoring of numerous standards and blanks into the sample stream, and the collection
of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a
51 multi -element geochemica l suite by ICP -MS. ALS Geochemistry -Reno is ISO 17025:2005
Accredited, with the Elko prep lab listed on the scope of accreditation.
QUALIFIED PERSON
Moira Smith, Ph.D., P.Geo ., Vice -President Exploration and Geoscience, 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.
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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. Our flagship projects are Black Pine in Idaho and Goldstrike in Utah, both past -
producing open-pit mines, where previous operators only scratched the surface.
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 statements that address potential quantity and/or gr ade
of minerals. 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", a nd 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
Page 6 of 6
market conditions, the impact from the pandemic of the novel coronavirus (COVID-19), availability of equipment, , the availability
of drill rigs, the timing of the publication of any updated resources, preliminary economic assessments or pre -feasibility studies,
successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events th at
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 refined; current economic conditions; future prices of
commodities; possible vari ations 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 generall y; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining
industry, including impacts from the pandemic of the novel coronavirus (COVID-19); the timing of the publication of any updated
resources, any prel iminary economic assessments or pre -feasibility studies, successful, delays in obtaining governmental
approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the
Company dated March 25, 2022 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.
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.
Cautionary Note for United States Investors
The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource”, are
Canadian mining terms as defined in, and required to be disclosed in accordance with, National Instrument 43 -101 – Standards
of Disclosure for Mineral Projects (“NI 43 -101”), which references the guid elines set out in the Canadian Institute of Mining,
Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves (“CIM Definition
Standards”), adopted by the CIM Council, as amended. However, these terms are not defined terms under SEC Industry Guide 7
(“SEC Industry Guide 7”) under the United States Securities Act of 1933, as amended, and normally are not permitted to be use d
in reports and registration statements filed with United States Securities and Exchange Commission (the “SEC”). The SEC has
adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities
are registered with the SEC under the United States Securities Exchange Act of 1934, as a mended. These amendments became
effective February 25, 2019 (the “SEC Modernization Rules”) with compliance required for the first fiscal year beginning on or after
January 1, 2021. The SEC Modernization Rules replace the historical disclosure requirements for mining registrants that were
included in SEC Industry Guide 7. 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.