Liberty Gold Expands New High Grade Oxide Gold Zone; 1.20 g/t Au over 67.1 m Including 2.57 g/t Au over 16.8 m

D-3 Zone Remains Open for Extension in All Directions

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce additional reverse circulation (“RC”) drill results from the 2020 drill program at its Carlin-style Black Pine oxide gold property in southern Idaho, USA.?

As announced on June 23 (see press release dated June 23, 2020), a third high grade oxide gold discovery (D-3 Zone) was identified in close proximity to the D-1 and D-2 zone discoveries made in 2019. The D-3 Zone lies beneath the limit of shallow historical drilling in a stratigraphic unit that is modeled to underlie at least the southern two thirds of the Black Pine gold system. Eight additional holes have extended mineralization over 400 metres (“m”) in a north-south direction by 250 m in an east-west direction. D-3 remains open for extension in all directions. Drill hole LBP138 lies at the south end of the zone as currently defined, and returned 1.20 grams per tonne gold (“g/t Au”) over 67.1 m, including 2.57 g/t Au over 16.8 m. The hole bottomed in mineralization, with the last 1.54 m-long interval returning 0.84 g/t Au.

“The new drill results confirm that the D-3 Zone is a significant new discovery,” comments Cal Everett, President and CEO of Liberty Gold. “Given the grade, thickness and dimensions that are beginning to take shape, we believe that D-3 will have a positive material impact on the resource endowment at Black Pine. Each D-3 drill hole to date contains multiple reportable oxide gold intervals above 0.5 g/t Au.”

D-3 DRILL HIGHLIGHTS INCLUDE1:
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For cross sections of drill collars and traces for the current release, please click here:??https://libertygold.ca/images/news/2020/july/BlackPine_NR07142020CS.pdf

For a map of drill collars and traces for the current release, please click here:??https://libertygold.ca/images/news/2020/july/BlackPine_NR07142020Map.pdf

For a complete table of drill results from all Liberty Gold drill holes at Black Pine, please click here:?https://libertygold.ca/images/news/2020/july/BP_Intercepts07142020.pdf

D-3 Key Points ?
•New drilling confirms that the D-3 Zone is a significant new discovery that is at least 400 m long in a north-south direction and 250 m wide in an east-west direction.
•Being located in close proximity to D-1 and D-2, D-3 should be accretive to the overall gold endowment in Black Pine gold system.
•The new discovery is located in a rock unit that lies stratigraphically below the unit hosting high-grade gold mineralization in the D-2 Zone. This unit is modeled to underlie the southern two thirds of the gold system and has only been tested by historic drill holes in a few locations.
•Multiple gold oxide horizons have been identified in all drill holes.
•Cyanide-soluble assays for the 16.8 m-long highlight interval in LBP138 return a weighted average of 92%, with the 67.1 m-long interval, averaging 81%. The highlight intercepts in LBP140 representing the D-3 Zone, from 190.5 to 259.1 m, return a weighted average 90% cyanide solubility.
•Drilling is ongoing to infill and step-out on the D-3 Zone, which will bring more clarity to the overall size and orientation of this discovery. Currently 10 drill holes define D-3.

At present, the D-3 Zone is believed to represent a tabular zone that dips gently to moderately to the east and may extend partially under the location of the historic B Pit ore body. It appears to shallow to the west, as represented by shallow intercepts in LBP130, LBP132 and LBP133, the latter of which returned 0.68 g/t Au over 30.5 m and 0.80 g/t Au over 9.1 m, beginning at 15.2 m depth down-hole. It is open to the north and south. Additional drilling is underway to determine the overall size and extent of the D-3.

D-2 SOUTH

Two holes, LBP137 and LBP139, offset LBP110, targeting the eastern, down-dip extension of the historic B Pit ore body where it merges with the D-2 Zone. Additional oxide mineralization was encountered in both holes. Additional step-out holes are planned in this area.

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