Liberty Gold Provides Corporate Update & More Trending News

 

Liberty Gold Corp.

Liberty Gold Corp.

Board and Management Updates

2023 Work Programs

VANCOUVER, British Columbia , Jan. 25, 2023 (GLOBE NEWSWIRE) — Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is happy to announce a company replace which incorporates an addition to the Board of Directors (the “Board”), administration appointments and a abstract of labor plans for 2023 at its Black Pine oxide gold mission (“Black Pine”) in southeastern Idaho, Goldstrike oxide gold mission (“Goldstrike”) in southwestern Utah and TV Tower gold-copper-silver mission (“TV Tower”) in western Turkey.

The Company declares the appointment of Lisa Wade to the Board. Ms. Wade is an environmental engineer with over 25 years of expertise within the mining trade and has held environmental engineering, group relations, allowing, govt and managerial positions with a variety of mining firms. From 2005 to 2019, Ms. Wade held more and more senior positions at Goldcorp Inc., in Central America and subsequently as Vice President, Environmental, Reclamation and Closure. Earlier in her profession, Ms. Wade managed environmental and social issues in northern Nevada, California and on the Yanacocha Mine in Peru for Newmont Corporation. Ms. Wade holds a Bachelor of Science and Master of Science in Environmental Engineering from Montana Technological University. Ms. Wade obtained the Alumni Recognition Award in 2014 from Montana Tech in recognition of her skilled accomplishments.

The Company can also be happy to announce that Peter Shabestari, CPG, has been appointed Vice President of Exploration. He will even assume the function because the Company’s Qualified Person. Mr. Shabestari joined Fronteer Gold Inc. (“Fronteer”) in 2009 and was instrumental in drilling and modeling the Long Canyon gold deposit, the flagship property on the core of Fronteer’s sale to Newmont Corporation for C$2.3 billion in 2011. Mr. Shabestari has been with Liberty Gold since its spin-out from Fronteer as Senior Geologist and Vice President, Operations. He was the lead in procuring course of water and personal and State of Idaho mineral and floor rights, creating group and governmental relationships and has been the Project Manager at Black Pine and Goldstrike. Mr. Shabestari is a local of Utah and has labored in mineral exploration within the Great Basin and world wide for over 25 years.

Moira Smith, Ph.D., P.Geo., has held the function of Vice President, Exploration and Geoscience with Liberty Gold since 2015, and can be transitioning into a brand new function as Corporate Technical Advisor specializing in technical evaluations and enterprise improvement alternatives. She has been instrumental in figuring out alternatives similar to Black Pine, making new discoveries and constructing important useful resource ounces for Fronteer and Liberty Gold over the past 15 years in addition to for different firms and gold deposits within the Americas all through her profession.

Moira Smith said, “While I will not be as involved in the day-to-day operations of our projects, I will continue to contribute to Liberty Gold in other meaningful ways for the foreseeable future. With a resource update pending at Black Pine, a new drill program already underway, development and de-risking activities planned, and the hope of a renewed gold market on the horizon, I remain committed to advancing Liberty Gold to create shareholder value.”

Mark O’Dea, Chairman of Liberty Gold, commented, “As Liberty Gold evolves into a development stage company, changes to Liberty Gold’s Board and executive team are a natural part of this transformation. I would like to welcome Lisa Wade to the Board. Her unique experience and skillset bring considerable strength to our company culture and the advancement of our oxide gold projects. Led by Moira Smith along with Peter Shabestari, our exploration group has had tremendous success in driving the discovery of many ounces of gold in the Great Basin, USA – with Black Pine in Idaho, Goldstrike in Utah and as exploration leaders of the Fronteer Long Canyon deposit team. These are prodigious achievements and on behalf of the entire team, I wish to thank Moira for her strength and leadership over these many years. We look forward to continuing to work with her in her new role. I am also pleased to introduce Pete as our new Vice President of Exploration. As Vice President of Operations, Pete has been overseeing the advancement of our projects through development and de-risking and with his years of exploration experience with the Liberty Gold team, he is a great fit for the role.”

2023 WORK PROGRAMS

With working capital of C$31.8 million1 (as at September 30, 2022), assay outcomes nonetheless pending for launch from 93 drill holes from final yr’s 325 holes from the 67,000 metre drilling program at Black Pine and a future regular stream of drill outcomes anticipated for this yr’s program, the Company is properly positioned to proceed delivering worth from the next, board-approved, work packages:

Black Pine, Idaho

  • The drilling program commenced on January 6, with the deal with step-out and useful resource infill drilling all through the mission space. Project de-risking actions are progressing in parallel with useful resource delineation, with the target of front-end loading technical work upfront of the mine allowing section.

  • The Company is on monitor for delivering an up to date Mineral Resource Estimate mid-February with the NI 43-101 Technical Report to be filed shortly thereafter. The group has been updating the geological mannequin progressively as drill assays have develop into out there. Moira Smith is the lead Qualified Person for this mineral useful resource replace.

  • Based on the up to date useful resource and the standing of its intensive de-risking actions, the Company will affirm in H1 whether or not it would forgo a proper Preliminary Economic Assessment and transfer on to the graduation of a Pre-Feasibility Study.

  • Key actions embrace:

    • 32,000 metres of reverse circulation exploration drilling.

    • Delivery of an up to date Mineral Resource Estimate in mid-February.

    • Completion of pre-feasibility stage research on hydrology/hydrogeology of the mine water provide, geotechnical engineering, geo-metallurgical modelling, and metallurgical take a look at work.

    • Commencement of waste rock geochemical characterization research.

Goldstrike, Utah

  • With the completion of the exploration drilling program in 2022, consideration will focus largely on key de-risking actions, specifically procurement of a course of water provide forward of additional detailed work.

  • Key actions embrace:

    • Hydrological and geological research to establish and take a look at potential new water sources within the aquifers close to to the mine web site.

    • Metallurgical testwork and updating of metals restoration fashions.

    • Ongoing efforts supporting the proposed land swap between the State of Utah School and Institutional Trust Lands Administration (“SITLA”) and the Bureau of Land Management in accordance with State Bill HJR016.

TV Tower, Turkey

  • At TV Tower, a latest useful resource estimate outlines a number of deposits of gold, copper and silver2, containing multi-million gold-equivalent ounces. These deposits are open to enlargement and the mission has a number of drill-ready targets. We will proceed our strategic sale course of. (see press launch dated August 15, 2022) For a full desk of the TV Tower Resource Estimate Summary, see press launch dated April 6, 2021. In addition, we are going to look to consolidate our exploitation licences, preserve licences in good standing, apply for exploration drill permits on key, high-value goal areas and proceed ongoing social engagement with native communities.

QUALIFIED PERSON

Peter Shabestari, CPG, Vice President of Exploration, the Company’s newly designated Qualified Person approves this information launch inside the that means of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed and validated that the knowledge contained within the launch is correct.

ABOUT LIBERTY GOLD

Liberty Gold is targeted on exploring for and creating open pit oxide deposits within the Great Basin of the United States, house to large-scale gold tasks that are perfect for open-pit mining. This area is among the most prolific gold-producing areas on the planet and stretches throughout Nevada and into Idaho and Utah. We know the Great Basin and are pushed to find and advance massive gold deposits that may be mined profitably in open- pit situations. Our flagship tasks are Black Pine in Idaho and Goldstrike in Utah, each past- producing open-pit mines, the place earlier operators solely scratched the floor.

For extra info, go to libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
information@libertygold.ca

All statements in this press launch, different than statements of historic reality, areforward-looking information” with respect to Liberty Gold inside the that means of relevant securities legal guidelines, together with statements that tackle potential amount and/or grade of minerals. Forward-looking info is usually, however not all the time, recognized by way of phrases similar to “seek”, “anticipate”,plan”,continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and related expressions, or describes a “purpose”, or variation of such words and phrases or state that certain actions, events or resultsmay”, “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, timing of assay results, scalability of metallurgical results, results and accuracy of mineral resources or hydrology studies, 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 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; timing of any mineral resource estimates or metallurgical results; scalability of metallurgical results, delays in permitting or receipts of records of decisions; the timing of any preliminary economic studies or pre-feasibility studies; possible claims against the Company; labour disputes and other risks of the mining industry; 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 differ 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.

1 At September 30, 2022, the value of C$1.00 was approximately $0.730; the daily average rate from the Bank of Canada.
2 See press release on May 18, 2021: “Liberty Gold Files Technical Report on SEDAR for the Resource Estimate at TV Tower, Western Turkey”.

Liberty Gold Provides Corporate Update

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