Liberty Gold Advances Black Pine Oxide Gold Project with the Submission of a Mining Pre-Plan of Operations to US Federal Agencies and the Selection of a Lead Engineer for the Pre-Feasibility Study

VANCOUVER, British Columbia, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”) is pleased to announce a significant milestone in the development of its Black Pine Project, located in Cassia and Oneida counties, Idaho. Pilot Gold (USA) Inc., a wholly owned subsidiary of Liberty Gold Corp., has prepared and submitted the mining Pre-Plan of Operations (“PPO”) for the Black Pine Oxide Gold Project (“Black Pine Project”), a critical step in the advancement of the project into the Federal and State permitting process and onwards, towards production.

The Black Pine deposit is situated approximately 5 miles south of Juniper, Idaho, within the United States Forest Service (“USFS”) Sawtooth National Forest and on adjacent lands administered by the U.S. Bureau of Land Management (“BLM”) from the Pocatello Field Office. The project encompasses a largely contiguous block of 622 unpatented federal lode claims, state minerals, and private properties hosting a multi-million ounce oxide gold mineral resource. Liberty Gold has been exploring the project since acquisition in 2016 and recently completed the major milestone of one thousand exploration holes drilled by the Company on the property. (See press release dated )

Liberty Gold is dedicated to responsible, sustainable exploration and mining practices and has embarked on a comprehensive process of planning, engineering, and permitting in close collaboration with regulatory agencies to ensure environmentally sound and sustainable operations. The Company’s second annual ESG report was recently published (see press release dated ). The submission of the mining Pre-Plan of Operations for the Black Pine Project to the USFS (acting as lead Federal Agency), BLM and Idaho Governor’s Office of Energy and Mineral Resources, is a further critical step in advancing the project.

The conceptual project entails re-starting conventional open pit mining in pre-existing historical pits, expanding these pits, and developing new open pits in previously unmined areas. The extracted oxide gold mineralization would be processed using the well-established run-of-mine heap leaching method, with gold produced as dore bars on site. The Company is committed to maintaining the highest environmental standards and employing established metallurgical processes that have been used successfully at the Black Pine site and at many other mine sites.

Figure 1: Conceptual Site Layout, Black Pine Project

As part of its commitment to excellence, Liberty Gold is pleased to announce the selection of M3 Engineering, an international engineering firm with a wealth of experience in large-scale mining operations and environmental stewardship, as the Lead Engineer for the Black Pine Oxide Gold Project. The M3 Engineering team brings an impressive track record of success in designing, constructing, and overseeing multiple mining projects of a similar nature to that proposed at Black Pine, while prioritizing environmental sustainability and regulatory compliance.

"We are excited to take this significant step forward in the development of the Black Pine Project," stated Jason Attew, President and CEO of Liberty Gold. "The submission of the mining Pre-Plan of Operations reflects our dedication to responsible mining practices, our desire to engage with the regulatory authorities early in the permitting process in a transparent and inclusive manner and marks a pivotal moment in our journey towards realizing the project's full potential. We are equally thrilled to welcome M3 Engineering to our team. With their expertise and guidance, we are confident in our ability to develop and execute a world-class mining operation at Black Pine that aligns with our commitment to environmental stewardship and builds opportunity with local communities.”

Liberty Gold remains committed to collaboration with regulatory agencies, stakeholders, and local communities as the project advances to the permitting and development phases. The Company will continue to prioritize environmental studies, community engagement, and sustainable resource management as it progresses toward the formal submission of the Mine Plan of Operations expected in second half of 2024.

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. 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 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 grade 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", and 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 market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; 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; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2023 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at .

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.