Shallow High-Grade Oxide Gold Mineralization At Rangefront Focus Area

VANCOUVER - Liberty Gold Corp. announced the first tranche of reverse circulation (RC) drill results from the 2022 winter program in the Rangefront Focus Area (RFA) at the Black Pine oxide gold deposit in southern Idaho. The winter program in the RFA focused on both step-out and resource definition drilling. An additional 23 RFA drill holes are pending.

Today’s drill results further define and expand the higher-grade core zone within the RFA to an area of approximately 500 meters (m) by 1 kilometer (km) with high-grade drill intercepts ranging from 20 to 115 m in length. The mineralization trends shallower as drilling expands the footprint east toward the current Rangefront resource pits and to the north towards the historic heap leach pad. The lower-grade mineralized envelope surrounding the high-grade core is also closer to surface. This should have a positive impact on strip ratio in a future mining scenario.

Resource definition drilling exceeded expectations in delivering additional high-grade oxide gold intercepts at shallow depths and confirmed multiple zones of greater than 100 m intercepts of continuous mineralization. Today’s results from step-out drilling suggest that gold mineralization is open to the north and west. Results are pending from step-out drilling to the northeast. Additionally, shallow historic drilling indicates that mineralization is open to the east, where an expansion to the Plan of Operations is underway to facilitate access for drilling later in the year.

Cal Everett, President and CEO, said, “Favorable weather conditions and a mild winter season at Black Pine led to an efficient drill campaign through the early part of the year, with 12,400 m drilled in 42 holes in the RFA in January and February. Drill results continue to encounter multiple thick intercepts of oxide gold in virtually every hole as we increase our confidence and extend the size of this new discovery. RFA mineralization also continues to migrate closer to surface as the high-grade core zone extends to the east and to the north. On completion of the recent C$30M financing, Liberty has a strong treasury to support our exploration and development efforts on both Black Pine and Goldstrike. Four drills are currently operating split between the two deposits.”