Liberty Gold Corp. announced additional reverse circulation (“RC”) results from the 2021 drill program in the Rangefront Focus Area (“RFA”) at the Black Pine oxide gold deposit, Idaho. The RFA is host to a major new oxide gold discovery in the down-faulted southeast portion of the Black Pine goldsystem and has been a focus of drill campaign since it was discovered in Third Quarter 2021.

Results to-date confirm the RFA discovery is quickly expanding, with gold mineralization extending over an area of approximately one square kilometer (“km2”) and it remains open for extension in all directions. Liberty Gold has continued to expand on the D-4 Discovery area within the RFA, adding drill sites to the north, south and east, toward the original Rangefront deposit defined by shallow historical drilling. Notably, a NW-SE-trending, high-grade mineralized core has now been delineated over a 300 x 400-meter (“m”) area that remains open along trend to the NW and SE.

Additionally, of the 46 holes drilled and assayed in the RFA since Third Quarter 2021, virtually all have returned multiple, relatively flat zones of oxide gold mineralization from near-surface to a depth of up to 400 m. The 2022 exploration program at Black Pine commenced at the beginning of January, with three RC and one core rig active. Drilling through to the end of February will focus on the lower-elevation RFA to provide data for resource estimation and metallurgical testing. The current RFA drill campaign will end in late February, and the drillhole database and geological model will be updated for the upcoming mineral resource estimate.

The drills will then move off in the interim to continue both in-fill and step-out drilling at other prospective areas on the Black Pine deposit. Liberty Gold plans to aggressively advance Black Pine in 2022 with drilling, initial engineering and permitting programs and further de-risking activities, with the goal to provide an updated resource estimate and Preliminary Economic Assessment in Quarter 3 2022 and reach a prefeasibility decision by Quarter 4 2022.