Near-Surface Oxide Gold In Main Zone At Goldstrike Deposit

VANCOUVER - Liberty Gold Corp. reported additional results from its 2021 Reverse Circulation (RC) drill program targeting the Main Zone, which includes 10 drill holes in the Hassayampa Pit area and 13 drill holes in the Hamburg Pit area at the Goldstrike Oxide Gold Project in Utah. Drilling in the Hassayampa Pit also encountered high gold grades in pit backfill at surface, currently modeled as waste rock, including 1.14 grams per tonne gold (“g/t Au”) over 15.2 meters (“m”) PGS 794 and 1.16 g/t Au over 7.6 m in PGS 797.

Drill results in the Hamburg Pit area directly to the south of Hassayampa continues to yield long intervals of shallow oxide gold mineralization, further proof of the robust nature of mineralization in the central part of the Main Zone, which carries greater than 60% of the Mineral Resource.

Cal Everett, President and CEO, said, “The Goldstrike Project continues to deliver impressive, near-surface, high-grade oxide gold intercepts. The grades and widths at Goldstrike are similar to that of the oxide gold intercepts at Black Pine in Idaho. At Hassayampa, mineralization is located at or near surface after drilling through gold-bearing pit backfill material. Mineralized backfill also covers a large portion of the Hassayampa pit and is classified as waste in the 2018 PEA. This represents another avenue to improve the economics of the project. Goldstrike remains an important component of Liberty Gold’s development strategy in conjunction with Black Pine looking ahead to 2022, as we maintain focus on de-risking our portfolio of run-of-mine heap leach oxide gold deposits in the Great Basin.”

The 2021 Goldstrike drill program is focussed on conversion of tonnes from the “inferred” to “measured and indicated” category, with results continuing to confirm that the deposit remains open laterally and to depth. The program is also focused on better defining the size, location, and orientation of the higher-grade structural zones.