VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”) is pleased to announce its financial and operating results for the nine months ended September 30, 2021. All amounts are presented in United States dollars unless otherwise stated.
Liberty Gold is focused on advancing the Black Pine and Goldstrike Carlin-Style oxide gold heap leach projects in the Great Basin, USA.
At Black Pine we announced the new D-4 Discovery at Rangefront including 0.91 grams per tonne of gold (“g/t Au”) over 86.9 metres (“m”) and 2.03 g/t Au over 21.3m at LBP356, and 1.23 g/t Au over 24.4 m and 1.37 g/t Au over 50.3 m at LBP358. Four drill rigs are currently on site and with a focus to continue aggressively drilling the Rangefront D-4 Discovery area and complete infill drilling in the Discovery Zone.
Results released to-date from the 2021 drill program at Black Pine extended known gold mineralization in the Discovery Zone to the east and west and the E Zone to the west and north.
On October 27, 2021, we released the results from the Phase 3 metallurgical program at Black Pine, which confirmed that high and rapid gold extraction, combined with relative insensitivity to crush size support Run-of-Mine (“ROM”) heap leach processing.
At Black Pine we announced the first modern mineral resource estimate (the “Mineral Resource”):
An indicated mineral resource of 1,715,000 ounces of gold at an average grade of 0.51 g/t Au and totaling 105,075,000 tonnes; and
An inferred mineral resource of 370,000 ounces of gold at an average grade of 0.37 g/t Au and totaling 31,211,000 tonnes.
A high-grade subset of the Mineral Resource using a cut-off grade of 0.5 g/t Au consists of:
An indicated mineral resource of 1,020,000 ounces of gold at an average grade of 1.04 g/t Au and totaling 30,520,000 tonnes; and
An inferred mineral resource of 134,000 ounces of gold at an average grade of 0.94 g/t Au and totaling 4,440,000 tonnes.
From January 1, 2021, to the date of this MD&A, the Company received a total of C$12,626,850 from the exercise of 21,044,750 common share purchase warrants (“Warrants”), issued pursuant to the bought deal financing that closed on October 2, 2018; the Warrants were each exercisable for C$0.60 and expired on October 2, 2021. Of the warrant proceeds, C$7,345,800 was received subsequent to September 30, 2021, and is not included in our consolidated cash and short-term investments at the period end. Liberty Gold has no additional Warrants outstanding as of the date of this MD&A.
We announced two batches of drill results from our 15,000 m RC drill program at Goldstrike with a goal to convert inferred gold ounces to indicated. Results included 3.60 g/t Au over 15.2m including 7.75 g/t Au over 6.1m in PGS754 and 0.81 g/t Au over 61.0 m, including 1.48 g/t Au over 15.2 m in PGS773. 
On August 12, 2021, we received the second of three staged payments of $6.00 million on the sale of the Halila?a copper gold deposit in Turkey. A further $6.00 million is expected to be received on August 11, 2022.
Moira Smith, Ph.D., P.Geo., Vice-President Exploration and Geoscience, 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.
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 nine months ended September 30, 2021 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 except per share data:
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