Three untested “Carlin Type” gold targets adjacent to a historic mine.

The Drum Project is located in the Drum Mountains of west-central Utah, adjacent to the historic Drum Mine Property, which operated between 1984 and 1989 and produced over 126,000 ounces of gold from two distinct “Carlin-type” gold deposits that averaged 0.04 ounce gold per ton (1.37g/t Au). Liberty Gold acquired the Drum Project in a lease agreement with a private company in December 2012.  Drum currently comprises 87 unpatented lode claims on Federal Land administered by the U.S. Bureau of Land Management and a State of Utah mineral lease. 

Liberty Gold has identified three distinct exploration targets with surface geochemistry  indicating the presence of sediment-hosted gold mineralization at depth.  Lower Cambrian carbonate and fine-grained clastic strata are the projected host rocks in all of these target areas.

Gold in surface samples is strongly associated with silicification (jasperoid).  This is similar to the historic Drum Mine, where gold-bearing jasperoid outcrops occur in the vicinity of the main deposit, in which the host rocks consist of strongly clay-altered strata and altered dikes.  On the Liberty Gold claims, gold concentrations in outcrops of jasperoid and variably silicified breccias are commonly between 0.100 and 1.00 ppm, with a maximum of 5.2 ppm Au.  Antimony and bismuth display the strongest correlations with anomalous gold.

Proposed future activities include rock-chip sampling, soil sampling and additional detailed geologic mapping on the new claims, and possible CSAMT surveys over the three existing target areas.

Moira Smith, Ph.D., P.Geo., VP Exploration and Geoscience, Liberty Gold, is the Company's designated Qualified Person within the meaning of NI 43-101 and has reviewed and validated that the information contained herein is accurate.