Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to announce that further to its news release
dated February 7, 2023, the Company has filed on SEDAR a National
Instrument (“NI”) 43-101 Technical Report for the Black Pine Oxide
Gold Property in southeastern Idaho, USA.
The NI 43-101 Technical Report is entitled
“Technical Report on the Updated Mineral Resource Estimate at the
Black Pine Gold Project, Cassia and Oneida Counties, Idaho, USA”,
effective January 21, 2023, and signed March 10, 2023 (the
“Technical Report”). The Technical Report was prepared in
accordance with National Instrument 43-101 – Standards of
Disclosure for Mineral Projects by Ryan Rodney, CPG, of SLR
International Corporation of Denver, Colorado; Gary L. Simmons of
GL Simmons Consulting LLC of Larkspur, Colorado, both independent
Qualified Persons under National Instrument 43-101; and Moira
Smith, Ph.D., P.Geo., of Liberty Gold Corp.
The Technical Report is available under the
Company’s profile at www.sedar.com and will also be
available on the Company’s website at libertygold.ca.
QUALIFIED PERSON
Peter Shabestari, P.Geo., Vice-President
Exploration, Liberty Gold, is the Company’s designated Qualified
Person for this news release within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI
43-101”) and has reviewed and validated that the information
contained in the release is accurate.
ABOUT BLACK PINE
Black Pine is located in the northern Great
Basin, immediately adjacent to the Utah/Idaho border. It is a
Carlin-style gold system, similar in many ways to the prolific
deposits located along Nevada’s Carlin trend. Like Newmont’s
Long Canyon deposit, Black Pine represents a growing number of
Carlin-style gold systems located off the main Carlin and Cortez
trends in underexplored parts of the Great Basin. The
historic Black Pine Mine operated from 1992 to 1997, during a
period of historically low gold prices, with 435,000 ounces of gold
produced from five composite, shallow pits, at an average grade of
0.63 grams per tonne gold.
A virtual site tour and 3D model of Black Pine
property, including details about the geology and mineralization,
is available on the Company’s website: libertygold.ca
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.
For more information, visit libertygold.ca or
contact:
Susie Bell, Manager, Investor RelationsPhone:
604-632-4677 or Toll-Free
1-877-632-4677info@libertygold.ca
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, the potential size of the
mineralized zone, the proposed timing of exploration and
development plans, the expansion and future resource growth
expected at Black Pine, expected capital costs at Black Pine,
expected gold recoveries from the Black Pine mineralized material,
the potential upgrade of inferred mineral resources to measured and
indicated mineral resources, the potential for future additions to
the current mineral resource estimate, the 2023 work program and
the results thereof, the results of any resource updates and the
planned development work at Black Pine. 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, availability of
equipment, the availability of drill rigs, 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; the timing of the publication of
any updated resources; delays in permitting; possible claims
against the Company; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals, financing or
in the completion of exploration as well as those factors discussed
in the Annual Information Form of the Company dated March 25, 2022
in the section entitled “Risk Factors”, under Liberty Gold’s SEDAR
profile at www.sedar.com.
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.
Cautionary Note for United States Investors
The information in this news release, including any information
incorporated by reference, and disclosure documents of Liberty Gold
that are filed with Canadian securities regulatory authorities
concerning mineral properties have been prepared in accordance with
the requirements of securities laws in effect in Canada, which
differ from the requirements of United States securities laws.
Without limiting the foregoing, these documents use the terms
“measured resources”, “indicated resources”, “inferred resources”
and “probable mineral reserves”. These terms are Canadian mining
terms as defined in, and required to be disclosed in accordance
with, NI 43-101, which references the guidelines set out in the
Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”)
– CIM Definition Standards on Mineral Resources and Reserves (“CIM
Definition Standards”), adopted by the CIM Council, as amended.
However, these standards differ significantly from the mineral
property disclosure requirements of the United States Securities
and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300
(the “SEC Modernization Rules”) under the United States Securities
Act of 1934, as amended. The Company does not file reports with the
SEC and is not required to provide disclosure on its mineral
properties under the SEC Modernization Rules and will continue to
provide disclosure under NI 43-101 and the CIM Definition
Standards.
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