High-Grade Gold Mineralization At Rangefront Focus Area

VANCOUVER - Liberty Gold Corp. reported on the final tranche of the 2021 reverse circulation (RC) drill program in the Rangefront Focus Area (RFA) at the Black Pine oxide gold deposit in southern Idaho. RFA drilling resumed in January 2022 with three RC and one core rig and an additional 9,600 meters (“m”)in 34 holes have now been drilled to-date with assays pending. In 2021, Liberty Gold drilled a total of 28,048 m in 74 holes into a 1 square kilometer (km2) area within the RFA, and mineralization remains open for lateral extension to the north, northwest and east. Drilling in Q4 2021 focused on continued definition of the high-grade core of the mineralized zone; step-out drilling along the edges of the zone; and resource definition in the rest of the RFA. In all areas, two dominant horizons among multiple stacked zones of oxide gold mineralization were encountered in brecciated calcareous siltstone and sandstone from close to surface to depths of over 400 m.

The high-grade core zone has been extended an additional 100 m to the northwest and 250 m to the east and now measures approximately 300 x 750 m in size and remains open to the northwest. Drilling in the area between high-grade core zone and the original Rangefront resource pits encountered strong results, extending the high-grade core zone to the east, and providing an important link between these two mineralized areas.

Moira Smith, VP Exploration and Geoscience, said, “As we continue to define the RFA, the high-grade core is growing in size while we continue to fill in the gaps, with more certainty around the continuity of mineralization throughout the larger 1 km2 area. The RFA now rivals the Discovery Zone in size. Later in 2022, we are looking forward to testing the northeastern and eastern extent of the RFA where shallow historical drilling shows the presence of gold mineralization. We also plan to test the undrilled area to the south of the RFA with the goal of finding the extension of the structure hosting the D-3, F and CD zones. Based on all of the drilling, resource estimation and 3D modeling to date, we continue to believe that the data support a geological potential of three to five million ounces of gold on the Black Pine property.