High Grade Oxide Gold At Back Range Zone

VANCOUVER - Liberty Gold Corp. reported results of reverse circulation (RC) drilling in the Back Range Zone, which confirm historical results and extend gold mineralization beyond the current Mineral Resource at the Black Pine Oxide Gold Project, southeast Idaho. The Back Range Zone was last drilled 30 years ago, and recent drilling confirms a minimum seven kilometer (km) mineralized system in a northwest-southeast direction, which remains open for extension. The Back Range Zone is located approximately 1 km to the northwest of the Discovery Zone. Mineralization in this area is above average grade and is present at shallow depth, potentially offering early heap leach feed in a production scenario. The current resource for the Back Range, based entirely on historical data, is 17,000 indicated ounces (967,000 tonnes grading 0.56 grams per tonne gold (“g/t Au”) and 43,000 inferred ounces (2,481,000 tonnes grading 0.54 g/t Au) in multiple small resource pits. The Back Range Zone remains open in three directions and additional drilling may merge the small pits into a single, larger resource pit.

The 1 km, undrilled, covered area between the Back Range Zone and the Discovery Zone is highly prospective and has not yet been drill tested. This area will be included in a future exploration permit application. A similar scenario existed in the Rangefront Focus Area prior to drill testing, with results to date pointing to the potential for a large gold deposit in this area.

Cal Everett, President and CEO, said, “Our drilling at the Back Range Zone has confirmed that gold mineralization extends beyond the limits of the current resource pits, returning thick sections of high-grade oxide gold mineralization at shallow depths. The Back Range Zone, and the area between Back Range and Discovery Zone, warrant additional drilling in 2022 to continue to expand the now plus 10 square kilometers, drill confirmed mineralized footprint at Black Pine.”