VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company"), is pleased to announce its financial and operating results for the six months ended June 30, 2020. All amounts are presented in United States dollars (“USD”) unless otherwise stated.

Liberty Gold is focused on advancing a pipeline of Carlin-Style gold deposits in the Great Basin, U.S.A., a mining-friendly jurisdiction that is home to large-scale oxide gold systems ideal for open-pit heap leach mining. The Great Basin covers portions of the states of Nevada, Utah and Idaho. The Company has a proven track-record in discovery and building value in this region.

Recent Highlights
•On August 12, 2020 Liberty Gold announced the closing of the sale of the Halila?a porphyry copper gold deposit in Turkey, and receipt of the first of staged payments of $6.0 million. A further two $6.0 million installments are bank guaranteed and will be received on August 15, 2021 and August 15, 2022 respectively.
•On June 2, 2020 Liberty Gold received $1.25 million and 8.8 million common shares in New Placer Dome Corp. (“New Placer Dome”), the first staged payment pursuant to a purchase-option agreement agreement to sell our interest in the Kinsley Mountain gold deposit to New Placer Dome for aggregate gross proceeds of $6.25 million plus 9.9% of New Placer Dome, to be received in three stages over two years[1].
•Since January 1, 2020, to the date of this MD&A we have received a total of C$2.55 million and C$0.74 million from the early exercise of Liberty Gold common share purchase warrants (“Warrants”) issued pursuant to the bought deal financings that closed on October 2, 2018and January 26, 2018, respectively; the Warrants are exercisable for C$0.60 and C$0.65, respectively, for a period of three years from issue.

At Black Pine we:
•Discovered a third high-grade oxide gold zone (D-3), in close proximity to the D-1 and D-2 zones and accretive to the overall gold endowment in the Black Pine gold system. Highlights include[2]: ?1.98 grams per tonne gold (“g/t Au”) over 33.5 metres (“m”), including 3.93 g/t Au over 15.2 m, and 1.11 g/t Au over 30.5 m in LBP127.
?1.44 g/t Au over 96.0 m, including 1.95 g/t Au over 32.0 m and including 5.31 g/t Au over 1.5 m and 1.86 g/t Au over 29.0 m in LBP152
?1.43 g/t Au over 9.1 m and 1.20 g/t Au over 67.1 m including 2.57 g/t Au over 16.8 m and including 8.51 g/t Au over 3.0 m in LBP138.
?0.82 g/t Au over 76.2 m including 1.65 g/t Au over 22.9 m in LBP131.

•Released results from drilling at the D-1, D-2 and F zones. Highlights include3: ?3.04 g/t Au over 19.8 m including 8.54 g/t Au over 4.6 m in LBP150 (D-1 zone)
?2.21 g/t Au over 22.9 m including 7.42 g/t Au over 4.6 m in LBP149 (F zone)
?0.88 g/t Au over 6.1 m and 0.75 g/t Au over 21.3 m including 2.05 g/t Au over 3.0 m in LBP137 (D-2 zone)

•Reported weighted average 79% extraction in column testing of six bulk samples with a range up to 92.8% gold extraction. Gold extraction was rapid, with >80% of the leachable gold extracted within the first 10 days of column leaching[3].
•Announced an increase to the strategic land holding at Black Pine by staking 243 new claims covering a total of 19 square kilometres (“km2”), increasing the size of the core Black Pine claim block as well as adding a new area to the west of the original claims.[4]
•Will, through the remainder of 2020, aim to de-risk and add value through: completion of our 46,000 m Reverse Circulation (“RC”) drilling program for resource estimation and a comprehensive test of the 7.3 km2, permitted portion of the gold mineralized system; completion of our 2,000 m diamond core drilling program to obtain additional material for Phase 3 metallurgical column testing; obtaining an amendment to our Plan of Operations to permit drilling over an additional 4.6 km2 of the gold system; and investigation of basin hydrology, preliminary engineering and other activities pursuant to initiating a Preliminary Economic Assessment.

SELECTED FINANCIAL DATA

The following selected financial data is derived from our unaudited condensed interim financial statements and related notes thereto (the “Interim Financial Statements”) for the three and six months ended June 30, 2020 as prepared in accordance with International Accounting Standards – IAS 34: Interim Financial Statements.

A copy of the Interim Financial Statements is available on the Company’s website at www.libertygold.ca or on SEDAR at www.sedar.com.

The information in the tables below is presented in $000s in USD except per share data:
see & read more on
https://libertygold.ca/news/2020-news/386-liberty-gold-reports-q2-2020-financial-and-operating-results.html