VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce results from its 2018 Reverse Circulation (“RC”) drilling program at the Goldstrike Project, the flagship of its three principal gold projects located in the prolific Great Basin of the United States. Located in southwestern Utah, Goldstrike is a past-producing oxide - heap leach gold mine that contains a large, shallow, district-scale, Carlin-style gold system.

As a follow-up to encouraging drill results along the southern margin of the Main Goldstrike Deposit (see press releases dated October 24, 2018 and November 15, 2018), Liberty Gold drilled additional holes to extend mineralization in two areas.

Drill Highlights include:

SOUTHERN MAIN GOLDSTRIKE DEPOSIT (PEG LEG ZONE)

• 2.95 grams per tonne gold (g/t Au) over 18.3 metres (m) in PGS670
• 0.70 g/t Au over 24.4 m in PGS668
• 1.00 g/t Au over 13.7 m in PGS669

SOUTHERN MAIN GOLDSTRIKE DEPOSIT (HAMBURG EXTENSION)

• 0.85 g/t Au over 7.6 m and 1.29 g/t Au over 36.6 m, including 2.82 g/t Au over 9.1 m in PGS677
• 1.18 g/t Au over 6.1 m and 1.17 g/t Au over 9.1 m in PGS676
• 0.83 g/t Au over 12.2 m in PGS678

KEY POINTS

• Drilling in the southern Main Goldstrike Deposit (Peg Leg Zone) continues to expand mineralization in this area as originally reported in October 2018, which included highlight intercepts of 1.17 g/t Au over 67.1 m and 0.99 g/t Au over 51.8 m.
• The objective is to connect zones of previously-identified oxide mineralization to form a larger, single pit.
• Mineralization encountered in the latest drill holes is higher-grade than the average grade of the deposit, and relatively shallow.
• Drilling in the southern Main Goldstrike Deposit (Hamburg Extension) area continues to expand mineralization to the west along the Hamburg Fault, as originally reported in November 2018, including highlight intercepts of 0.62 g/t Au over 61.0 m and 0.97 g/t Au over 33.5 m.
• Mineralization in this area is higher-grade than the average grade of the deposit, relatively shallow, and is located in an embayment in the Preliminary Economic Assessment (“PEA”)¹ pit.
• 2018 results from all areas will be incorporated into an updated resource estimate in 2019.

“With the recent receipt of two amendments to our Plan of Operations and improved access for drilling, we are now focusing on low-risk infill and step-out drilling in areas where widely-spaced drill holes indicate that gold mineralization is present just beyond the limits of the resource and PEA pits,” commented Moira Smith, V.P of Exploration and Geoscience for Liberty Gold. “With this strategy, we hope to use areas of previously identified mineralization as leverage to quickly and economically define more ounces and we look forward to seeing these results reflected in an expanded resource in 2019.”

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/GS_Intercepts01142019.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/Goldstrike_NR01142019.pdf

Liberty Gold drilled a total of 24,716 m in 200 RC and 15 diamond core holes in 2018.  The objective of the drilling reported below was to continue to push the pit-constrained resource outward and downward, to grow the resource and convert Inferred resources to Indicated resources.

Liberty Gold met its project enhancement goals in 2018, commencing with a maiden resource estimate released in February². A PEA is based on this resource, which includes drill results through the end of 2017.  The 2018 reverse circulation program was completed on November 1, 2018. The program focused on 1) infill and expansion of the resource; 2) testing of the historic heap-leach, stockpile and waste dump areas that are largely situated within the PEA pit and counted as waste in the model (see press release dated August 16, 2018); and 3) testing of new targets property-wide.

Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend.  Like Kinsley Mountain and Newmont’s Long Canyon deposit, Goldstrike represents part of 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 Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au and an average recovery of approximately 75%.

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 80% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Goldstrike, expected gold and silver recoveries from the Goldstrike mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Goldstrike and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 26, 2018 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

^{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

^{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 unless required by law}

[1] See press release dated July 16, 2018

[2] See press release dated February 8, 2018

Liberty Gold Announces Receipt Approval of Plan of Operations, Black Pine Project, Great Basin, USA

Permit Allows for Comprehensive Drilling Over the Core Project Area

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce the approval of a Plan of Operations at the Black Pine Project, one of its three principal gold projects located in the prolific Great Basin of the United States. Located in southern Idaho, Black Pine is a past-producing, run-of-mine, oxide-heap leach gold mine that contains a large, shallow, district-scale, Carlin-style sedimentary rock-hosted gold system.

The Plan of Operations will allow Liberty Gold comprehensive access to the 7.3 square kilometer (“km²”) core of an estimated 12 km² gold system.  A total of up to 141 acres (0.57 km²) can be disturbed under the permit, including up to 49 km of new roads and 370 drill pads, subject to a staged annual reclamation plan.  The main gold zone encompassing the historic Black Pine Mine is not subject to seasonal closures and can be accessed year-round, weather and road conditions permitting.  A previously-granted Plan of Operations allows Liberty Gold access to an additional 71 drill sites.

Liberty Gold’s Vice President of Exploration and Geoscience, Moira Smith stated, “We are thrilled to have this permit in hand. This is the largest permit we have obtained in terms of size and scope, and we are excited about the prospect of a comprehensive drill test of the Black Pine gold system starting in Q2 2019.  We were impressed with the timeliness and professionalism of the US Forest Service Sawtooth National Forest - Minidoka Ranger District throughout the process of producing the Environmental Assessment and adhering to all of the timelines and milestones necessary to permit this project. There are very few opportunities left in the Great Basin with multi-kilometer-scale oxide gold targets containing hundreds of gold-bearing drill holes, surrounded by undrilled gold-in-soil anomalies.”

To review the Black Pine Project data compilation pre-drilling, see the Black Pine Virtual Tour found on the homepage of the Company’s website at www.libertygold.ca.

Liberty Gold acquired Black Pine in 2016 and has spent over 2 years compiling data from 1,874 shallow drill holes, blast holes and other data pursuant to putting together a comprehensive 3D model of remaining gold mineralization at the property.  It carried out a small, proof of concept drill program under an existing permit in late 2017.  The data compilation identified a 12 km² oxide gold system in a receptive carbonate package up to 300 metres (“m”) thick.  No sulphides have been identified to date in the system.  Most of the drill holes extend only 92 m from surface, and a large proportion end in gold mineralization. 

In May 2017, Liberty Gold submitted an application for a new Plan of Operations to the US Forest Service (“USFS”) and worked diligently with the US Forest Service and Stantec Consulting Services, Inc. to complete wildlife, archaeological and other surveys to assist in producing a new Plan of Operations and comprehensive Environmental Assessment.  The Plan of Operations and accompanying Environmental Assessment were subject to rigorous inter-agency and public review.  The USFS issued a Finding of No Significant Impact on December 12, 2018, and approved Plan of Operations POO-2017-072046 on February 12, 2019. 

Weather and snow conditions permitting, drilling is expected to commence in Q2 2019, and continue through early November.  Approximately 16,000 to 20,000 m of reverse circulation drilling in 80 to 100 holes is planned.

To view a map of the new Plan of Operations, please click here: https://libertygold.ca/images/sites/default/files/BP_PoO_2019_disclaimer.pdf

ABOUT BLACK PINE

The Black Pine property is part of the Great Basin and located in southeastern Idaho and covers 31.7 km².  The mineralized zone was extensively drilled in the immediate pit areas, with mining carried out by Pegasus Gold Corp. from 7 shallow pits over a 6-year period from 1992 to 1997 in a run of mine heap leach operation. The mining operation produced 435,000 ounces of gold from ore averaging 0.63 g/t gold, with a reported recovery of 65%. 

Liberty Gold is in possession of data from 1,874 shallow holes, totaling 191,500 m and has identified three broad target types for drill testing, including: 1) down-dip extensions of gold mineralization from mined pits under shallow cover, as evidenced by data suggesting that 19% of the historic holes bottomed in gold mineralization; 2) unmined bodies of mineralization identified by previous operators and verified by Liberty’s drilling to date; and 3) undrilled, high priority gold-in-soil anomalies.

For more details about the Black Pine Property, including location, geology & geochemistry maps and past production and target figures, please click here: https://www.libertygold.ca/images/Presentations/2019/feb/BlackPine_February_2019.pdf

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.

Some of the data presented herein, includes historic data developed by previous operators of the Black Pine property. Historic drill intersections are reported as drilled thicknesses. True widths of individual mineralized intervals are unknown at this time, although trends in mineralization suggest that true thicknesses range between 40 and 90% of drilled thicknesses. Production data is sourced from Pegasus internal yearly statements on production and remaining Reserves and Mineralized material. Moira Smith, Ph.D., P.Geo, Vice President, Exploration and Geoscience, Liberty Gold, and Qualified Person under NI 43-101, has, to the extent possible, verified that the historic data herein, including the results of drilling, sampling, and assaying by previous operators, is reliable.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans,. 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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

Liberty Gold Reports Q4 2018 Financial And Operating Results

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company"), is pleased to announce its financial and operating results for the year ended December 31, 2018. All amounts are presented in United States dollars 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 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.

In October 2018, the Company completed a bought-deal financing, including the exercise of the over-allotment in full, of CDN$11.56 million, providing the financial strength to continue unlocking the full value of our key projects, all of which feature sediment-hosted, shallow, oxide gold targets with district scale potential.

In 2018, we defined the initial size and preliminary value of Goldstrike, our flagship project, while expanding its working footprint and potential. We also made positive strides in advancing our Black Pine project in Idaho.

2018 highlights

At our 100%-controlled Goldstrike project in Utah we:

• Announced a maiden, independent resource estimate. The Classified Mineral Resource was subsequently revised to reflect a cut-off grade of 0.20 grams per tonne gold (“g/t Au”) as a result of economic considerations discussed in the Preliminary Economic Assessment (“PEA”) and now consists of: an indicated resource of 925,000 ounces of gold at an average grade of 0.50 g/t Au (57,846,000 tonnes); and an inferred resource of 296,000 ounces of gold at an average grade of 0.47 g/t Au (19,603,000 tonnes).
  
  
• Completed a PEA. We released a PEA that generates an after-tax Net Present Value at a 5% discount rate and Internal Rate of Return of $129.5 million and 29.4%, respectively, with a 2.3-year payback of initial capital. It provides a strong, base case economic scenario upon which to expand the scope and scale of the project with ongoing drilling. The PEA mined 915,516 ounces and produced 713,000 recoverable ounces over a 7.5-year mine life. The PEA confirms the potential for a low capital intensity, low operating cost, open-pit, run-of-mine, heap-leach operation, with highly attractive economics.

• Continued growing the system. Drilling in the northern Main Goldstrike Deposit (Dip Slope Zone) area continues to expand mineralization with higher-grade intervals located along west-northwest-striking faults. Additional gold mineralization was discovered in the southern Main Goldstrike Deposit, Peg Leg area and Western Zone. We also demonstrated above cut-off oxide gold grades at the historical leach pads and backfill.
  
  
• Secured an Amendment to the Plan of Operations. As reported in November, we received expanded access along the main deposit trend of a contiguous 8.66 square kilometres (“km²”) area. Within this area, we are no longer restricted to operating on site-specific roads and drill pads with fixed locations. The amended permit will allow us enhanced flexibility for road and pad placement for infill and step-out drilling in and around all of the zones in the current resource. In particular, the expanded permit will help infill and expand the Dip Slope zone along the northern margin of the deposit, where drill holes on fixed, widely spaced pads do not adequately test the shallowly buried mineralization, and where access to many other areas was previously unavailable.  

• Created a clear vision for 2019. Receipt of this important upgrade to our Plan of Operations will help address our goal of increasing the total recoverable gold ounces in the deposit to more than one million ounces and a projected mine life of 10 years or greater.

At the 100%-owned Black Pine project in southern Idaho, we:

• Opened the door to discovery. Subsequent to year-end in February 2019, we secured approval of a Plan of Operations at Black Pine that provides comprehensive access to the 7.3 km² core of an estimated 12 km²oxide gold system.  A total of up to 141 acres (0.57 km²) can be disturbed under the permit, including up to 49 km of new roads and 370 drill pads, subject to a staged annual reclamation plan.  The main gold zone encompassing the historic Black Pine Mine is not subject to seasonal closures and can be accessed year-round, weather and road conditions permitting.
  
  
• In September 2018, we released a National Instrument 43-101 Technical Report on Black Pine and reported in the associated press release that: “On the basis of this validation drill program, compilation of 1,874 historic holes, past production figures, new geological modelling and comparison to the size and grade of other nearby sediment-hosted deposits, Liberty Gold is targeting a two to four million ounce oxide gold deposit (60-200 million tonnes grading between 0.4 and 1.5 g/t Au) in the main area of alteration and historic mining.” Black Pine is being prepared for its first extensive drill program in 2019 since historical mine closure in 1997. Approximately 16,000 to 20,000 m of reverse circulation drilling in 80 to 100 holes is planned.

SELECTED FINANCIAL DATA

The following selected financial data is derived from our Annual Financial Statements and related notes thereto (the “Annual Financial Statements”) for the year ended December 31, 2018 as prepared in accordance with International Accounting Standards. A copy of the Annual 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:

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.  

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Goldstrike, expected gold and silver recoveries from the Goldstrike mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Goldstrike and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 27, 2019 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

^{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

^{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 unless required by law}

Liberty Gold Announces Commencement of Drilling of the Black Pine and Goldstrike Projects, Great Basin, USA 

Concurrent drilling of Two District-Scale, Carlin-Style Oxide Gold Systems

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce the start of 2019 drilling programs at its Black Pine and Goldstrike properties in Idaho and Utah, respectively. Both properties contain shallow, district-scale, Carlin-style oxide gold deposits that were past-producing heap leach gold mines operating at low gold prices during the 1990s. Both were acquired with extensive historical exploration and mining databases and large land holdings covering broad target areas over a district scale.

At Black Pine, one reverse circulation (“RC”) drill has been deployed to drill an estimated 16,000 metres (m) in 80 to 100 holes to provide a comprehensive test of the core of an oxide gold system estimated at over 12 square kilometres in size. Extensive data compilation, involving over 1800 historic drill holes, thousands of surface soil and rock samples and 7 shallow pits, suggests that a large volume of rock under and adjacent to zones of previously drill-tested gold mineralization contains highly prospective stratigraphy and favourable structural settings.

Drilling will commence near Liberty Gold drill hole LBP002, drilled in late 2017, which returned 36.6 m grading 0.58 grams per tonne gold (g/t Au) and 15.2 m grading 1.10 g/t Au and 77.8 m grading 1.49 g/t Au, and will test a 500 m gap between it and historic hole 89-417, which returned 50.3 m grading 1.98 g/t Au.

To view the Black Pine Cross Section below, use this link:
http://libertygold.ca/images/sites/default/files/Black_Pine_Cross_Section.pdf

A virtual site tour and 3D model of the Black Pine Project is available on the homepage of the Company’s website: www.libertygold.ca

At Goldstrike, one RC drill has been deployed to carry out an estimated 9,600 m of RC drilling pursuant to expanding the existing resource, which includes an indicated 925,000 ounces (57.8 million tonnes grading 0.50 g/t Au) and an Inferred 296,000 ounces (19.6 million tonnes grading 0.47 g/t Au). This resource generated an after-tax Net Present Value (5% discount) of $US129.5 million dollars and an Internal Rate of Return at $US1350 gold price of 29.4% in a recently completed Preliminary Economic Assessment (“PEA”) see press release dated July 16, 2018.

The current resource does not include 24,716 m of drilling carried out in 2018. Areas along the northern, southern and western margins of the deposit will comprise the focus of 2019 drilling, with a resource update expected in Q4, 2019. The Company’s drill plan at Goldstrike is focused on expanding the current gold resource with a 2,000,000 ounces target.

A virtual tour and 3D model of the Goldstrike Project is available on the homepage of the Company’s website: www.libertygold.ca

“We are thrilled to be back in the field again and drilling at both Black Pine and Goldstrike,” said Cal Everett, President & CEO of Liberty Gold. “Large, shallow oxide gold systems are extremely rare in the Great Basin and we have two district-scale gold systems that are already substantially de-risked through previous exploration and mining activities, as well as through our own efforts. We are targeting multi-million ounce deposits at both properties and we expect to be well on our way to achieving this goal by the end of the year.”

2018 DRILL RESULTS

Liberty Gold is also pleased to announce the remaining results from its 2018 RC drilling program at the Goldstrike Project. As a follow-up to discovery of new gold mineralization on the west end of the Goldstrike Deposit (see press release dated November 5, 2018), Liberty Gold drilled additional infill and step-out holes in the area, known as the Beavertail West extension. The Beavertail West extension remains open to the west and south. The Beavertail deposit was also tested with one additional hole, and it remains open to the south.

Drill Highlights include:

WEST GOLDSTRIKE DEPOSIT (BEAVERTAIL)

• 1.49 g/t Au over 16.8 m including 3.37 g/t Au over 6.1 m in PGS690 (from surface)
• 1.45 g/t Au over 15.2 m including 3.92 g/t Au over 4.6 m in PGS687
• 0.83 g/t Au over 12.2 m in PGS681
• 0.54 g/t Au over 44.2 m in PGS659 (from surface)

KEY POINTS

• Additional drilling in the southern West Goldstrike Deposit (West Beavertail) continues to expand mineralization in this area, building on drill intercepts reported in November 2018, including highlight intercepts of 0.98 g/t Au over 15.2 m and 0.81 g/t Au over 27.4 m.
• Mineralization is higher than average grade and starts from surface.
• PGS690 extends mineralization over 400 m west from the western edge of the historic Beavertail Pit.
• Controls on mineralization are not well understood at this early stage. Additional drilling is planned in 2019 to better understand the controls on mineralization, as well as the size of the system, which is open to the south and west.

MOOSEHEAD STOCKPILE

Five drill holes tested a low grade stockpile or waste dump located immediately west of the historic Moosehead Pit and approximately 300 m north of the Beavertail target. Highlights include:

• 0.52 g/t Au over 12.2 m in PGS663
• 0.31 g/t Au over 18.3 m in PGS664
• 0.29 g/t Au over 24.4 m in PGS666
• 0.28 g/t Au over 7.6 m and 0.36 g/t Au over 3.0 m in PGS665

KEY POINTS

• All intercepts start at surface
• All intercepts consist of strongly oxidized, unconsolidated material
• This material is located within the PEA pit and is currently classified as waste
• Additional drill testing is warranted.

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/GS_Intercepts052019.pdf

For a complete table of results for all drilling from 2015 to the current holes, please click here: http://libertygold.ca/images/sites/default/files/GS_Intercepts2015tocurrent.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/Goldstrike_NR052019.pdf

Black Pine is located in the northern Great Basin, immediately adjacent to the Utah/Idaho border. Goldstrike is located in the southeastern Great Basin, immediately adjacent to the Utah/Nevada border. Both are Carlin-style gold systems, similar in many ways to the prolific deposits located along Nevada’s Carlin trend. Like Newmont’s Long Canyon deposit, Black Pine and Goldstrike represent 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, with 435,000 ounces of gold produced from 7 shallow pits, at an average grade of 0.63 g/t and average recovery of approximately 66%. The historic Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au and an average recovery of approximately 75%.

_{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 80% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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. Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

_{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Goldstrike, expected gold and silver recoveries from the Goldstrike mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Goldstrike and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 27, 2019 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

_{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

_{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 unless required by law.}

LIBERTY GOLD REPORTS Q1 2019 FINANCIAL AND OPERATING RESULTS

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company"), is pleased to announce its financial and operating results for the three months ended March 31, 2019. 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 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

At Black Pine we:

• Announced the commencement of our 16,000 metre (“m”) Reverse Circulation (“RC”) drill program in 80 to 100 holes, designed to test an oxide gold system estimated at over 12 square kilometres (“km²”) in size.
• Received approval of a Plan of Operations (“PoO”) on February 19, 2019 that provides comprehensive access to the 7.3 km² core of the gold system. 

At Goldstrike we:

• Announced the beginning of our 9,600 m RC drill program pursuant to expanding the existing resource that is included in a recently completed Preliminary Economic Analysis (“PEA”)¹
• Secured an Amendment to the PoO² and received expanded access along the deposit trend, from a fragmented area of approximately 5.11 square kilometres (“km2”), to a contiguous 8.66 km2 area.
• Announced the remaining drill results from the 2018 RC drill program and showed continued southern expansion of the mineralisation in the West Goldstrike Deposit³:
  • Including highlight intercepts of 0.98 g/t Au over 15.2 m and 0.81 g/t Au over 27.4 m,
  • demonstrating mineralization is higher than average grade, and starts from surface,
  • extending mineralization over 400 m west from the western edge of the historic Beavertail Pit with intercepts of 1.49 g/t Au over 16.8 m including 3.37 g/t Au over 6.1 m in PGS690.
• Continued to demonstrate the potential of areas currently classified as waste stockpiles within the PEA pit, with the results at Moosehead showing intercepts starting at surface, consisting of strongly oxidized, unconsolidated material. Highlights include 0.52 g/t Au over 12.2 m in PGS663 and 0.31 g/t Au over 18.3 m in PGS664.

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 months ended March 31, 2019 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:

 ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.  

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Goldstrike, expected gold and silver recoveries from the Goldstrike mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Goldstrike and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 27, 2019 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

^{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

^{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 unless required by law}

[1] See press release dated July 10, 2018

[2] See press release dated November 29, 2018.

[3] See press release dated May 6, 2019.

Liberty Gold Reports Weighted Average 84.2% Extraction in Phase 2 Column Testing at Goldstrike Project, Great Basin, USA

High and Rapid Recoveries Insensitive to Crush Size Continue to Support Simple Heap Leach Process

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to report results from Phase 2 metallurgical testing on oxide material from its Goldstrike Project, in southwestern Utah, providing additional support for a simple heap leach mining scenario. Gold extractions from 29 column tests were rapid, and >80% of the leachable gold was extracted within 10 days, with final column leach gold extractions ranging up to 95%. 

Metallurgical testwork included fine and coarse bottle rolls and 12.5 millimeters (“mm”) (0.5 inch) and 25 mm (1 inch) column tests. In total, 58 bottle rolls (twenty-nine 200 mesh and twenty-nine 10 mesh) and 29 column tests were carried out on 29 composites from the Dip Slope Zone immediately north of the Main Zone (subject to Phase 1 testing) and the Western Zone. Metallurgical testing now extends to all areas within the footprint of the Resource Estimate and Preliminary Economic Assessment (“PEA”).

Results and conclusions are consistent with those generated from Phase 1 metallurgical testing (see press release dated April 3, 2017), which were used to underpin recovery assumptions and run-of-mine (“ROM”) flow sheet for the PEA (see press release dated July 10, 2018). The Phase 2 metallurgical testing brings the total number of oxide column tests for the property to 49. A slight drop in overall extraction for Phase 2 results (84.2%) relative to Phase 1 results (85.9%) can be attributed to an average grade of 0.669 grams per tonne gold (“g/t Au”) for the 2019 composites, compared to 1.196 g/t Au for the 2017 composites.  This difference is the result of a deliberate attempt to match the composite grades to the average grades of the geographical areas tested, in order to be able to more closely predict expected mine recoveries in these areas.

Highlights include:

• 29 Column leach tests produced a weighted average 84.2% gold extraction (See below for a table of results or link: https://libertygold.ca/images/news/2019/may/Gold_Extraction_Data.pdf)
• Gold extraction was rapid, with >80% of the leachable gold extracted within the first 10 days of column leaching. Columns were deactivated after 50 days instead of the usual 90 day leach cycle because leaching was essentially complete. (See below for a graph of extraction curves or link: https://libertygold.ca/images/news/2019/may/Cumulative_Leach_Curves.pdf).
• Twenty-nine coarse bottle roll tests (target 80% passing 10 mesh or 1.7mm particle size) produced a weighted average 84.4% gold extraction.
• Twenty-nine fine bottle roll tests (target 80% passing 200 mesh or 75 micron particle size) produced a weighted average 89.7% gold extraction.
• Gold extraction is relatively insensitive to particle size, except for five composites from the Beavertail area. All other composites can be projected to coarse particle sizes without significant loss of gold extraction.
• Weighted average modeled extraction for the 29 column tests at a 200mm particle size (8 inches, meant to simulate ROM conditions) is 81.3%.

*Weighted average gold extraction is obtained using the following equation: (composite head grade (g/t) x extraction (%) for all head grades)/sum of all head grades.  Using arithmetic averages tends to over-represent low grade composites and under-represent high grade composites.  The arithmetic average of the 29 coarse bottle rolls is 81.0%.  The arithmetic average of the 29 column tests is 81.5%.

Cumulative Leach Curves, Phase 2 Metallurgical Testing

“We are extremely pleased with the Phase 2 metallurgical results,” says Cal Everett, Liberty Gold President & CEO. “The results are exceptional and continue to support our belief that a high percentage of the gold can be rapidly recovered in a simple, low cost, heap leach operation. Consistent results have now been confirmed along the initial 7 kilometers of strike of the Goldstrike oxide gold system.”

The work was supervised by independent consulting metallurgist Gary Simmons, formerly the Director of Metallurgy and Technology for Newmont Mining Corp. Mr. Simmons has managed or supervised a significant number of metallurgical testing programs on similar deposits throughout the Great Basin.  According to Mr. Simmons, “Data from metallurgical testing to date at Goldstrike point to rapid leaching and relatively high gold recoveries and suggest that a combination ROM and coarse crush/agglomeration heap leaching may be the preferred process option at Goldstrike.”

Metallurgical Program
Samples for this study were collected from 13 large diameter (PQ) diamond drill holes from the Western Zone of the Goldstrike Deposit as well as two areas near the Main Zone, intended to expand the scope of testing initiated with Phase 1, which focused entirely on the Main Zone. 

For a map showing locations of drill holes used for metallurgical testing, please click here:
http://libertygold.ca/images/news/2019/may/Goldstrike_metPRmap.pdf.

13 large diameter diamond drill holes were drilled in 2018 to sample a range of locations and material types in the Main and Western Zones at Goldstrike.  From these, 29 composites were created for metallurgical testing, with gold grades ranging from 0.214 to 2.048 g/t Au.  All composites were dominantly oxide, with cyanide soluble gold content of >80%.

Composites were sent to Kappes, Cassiday and Associates in Reno, Nevada for metallurgical testing, comprising bottle rolls, column testing and metallurgical characterization including; gold and silver assays, cyanide solubility, sulphur and carbon speciation, preg-robb analysis, ICP geochemical assays and whole rock analysis.

Column composites were leached in either 100 mm (4 inch) or 150 mm (6 inch) diameter columns at low strength, 0.50 grams per litre of sodium cyanide (“NaCN”) solution. Five of the columns sampleswere agglomerated with 2.0 kg/t of cement due to elevated clay content.

Samples for bottle roll testing were crushed/pulverized to 80% passing 200 mesh (75 microns) and 80% passing 10 mesh (1.7 mm) particle size.  The samples were rolled/agitated in bottles in a 1.0 g/l dilute cyanide solution for 72 hours (for 200 mesh) or 144 hours (for 10 mesh).

Organic carbon values are low. Results to date suggest that organic carbon will not be an issue in recovery.

About Goldstrike

Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend.  Like Kinsley Mountain and Newmont’s Long Canyon deposit, Goldstrike represents part of 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 Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au.

A virtual site tour and 3D model of Goldstrike is available on the homepage of the Company’s website: www.libertygold.ca.

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 80% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Goldstrike, expected gold and silver recoveries from the Goldstrike mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Goldstrike and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 27, 2019 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

^{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

^{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 unless required by law.}

Liberty Gold Announces First 2019 Drill Results from the Black Pine Oxide Gold Property, Great Basin, USA

1.51 g/t Au over 48.8 metres, 1.45 g/t Au over 45.7 metres and 1.19 g/t Au over 38.1 metres

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce assay results from the first four reverse circulation (“RC”) holes at its Black Pine Property in Idaho. The drill holes were designed for infill, validation of historical results, and to extend historically drilled gold mineralization into a highly prospective, 500-metre-wide gap in historical drilling. Three of four drill holes hit significant widths of high-grade, oxide gold mineralization, extending gold mineralization deeper and along strike into the untested section. Drill hole LBP016 intersected 1.45 grams per tonne gold (“g/t Au”) over 45.7 metres (“m”), extending mineralization northward into an area with no existing drill holes for 475 m toward the A Basin target, where Liberty Gold drilling in 2017 intersected 0.58 g/t Au over 39.6 m and 1.10 g/t Au over 15.2 m and 1.49 g/t Au over 77.8 m of in LBP002 (see January 5, 2018 press release). Current drilling is now testing the extent of gold mineralization on this section, with results pending.

For a cross section of drill collars and traces for the current release, please click here:  BlackPineSection_NR05292019 

For a map of drill collars and traces for the current release, please click here: BlackPine_NR05292019

For a complete table of drill results from the current holes, please see below or click here:  BP_Intercepts05292019

Key Points:

• Drill holes LBP014 through LBP017 were drilled north of the historic B Pit on a section between the B Pit and A Basin zone, located approximately 500 m apart.
• Much of the area between the B Pit and A Basin, and east toward the historic A Pit, has not been tested by drilling. 3D modeling of geology and historic drill holes suggests that mineralization may extend the full length and width of this corridor at depth.
• Cyanide-soluble assay results on intervals with >0.20 g/t Au by fire assay show approximately 87% cyanide solubility across most composite intervals, highlighting the oxidized nature of mineralization.
• Drill holes LBP014, 015 and 016 are similar to hole LBP002 in that they represent some of the best unmined intercepts drilled to date on the property, by any operator.

Highlights include:

One RC drill was deployed on April 23 to drill an estimated 16,000 m in 80 to 100 holes to provide a comprehensive test of the core of an oxide gold system estimated at over 12 square kilometres (“km²”) in size.  The drill program represents the culmination of over 2 years of intensive compilation, modeling and interpretation of the complex geology of the project, as well as a 20 month permitting process. The goal of the 2019 drill program is to carry out a comprehensive test of the geological and mineralization model over a roughly seven km² area within the 12 km² identified gold system, starting with a highly prospective area near the historic A and B pits. Extensive data compilation, involving over 1800 historic drill holes, thousands of surface soil and rock samples and 5 shallow pits, suggests that a large volume of rock under and adjacent to zones of previously drill-tested and/or mined gold mineralization contains highly prospective stratigraphy and favourable structural settings.

“We have waited a long time for the opportunity to drill and test our model and are thrilled with the results from the first four holes,” said Cal Everett, CEO of Liberty Gold. “Large, shallow oxide gold systems are extremely rare in the Great Basin and we believe that Black Pine has multi-million ounce potential that we can demonstrate by drilling.” 

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 5 composite, shallow pits, at an average grade of 0.63 g/t and average recovery of approximately 66%. 

A virtual site tour and 3D model of Black Pine is available on the homepage of the Company’s website: www.libertygold.ca.

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations,but are typically in the range of 60 to 80% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.20 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law.}

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) (“Liberty Gold” or the “Company”) is pleased to announce voting results from the Company’s Annual Meeting of Shareholders held on May 30, 2019 (the “Meeting”). A total of 122,186,124 common shares were voted, representing the votes attached to 58.95% of all outstanding common shares. Shareholders voted in favour of the election of all director nominees. The percentage of votes cast for each is as follows:

The reappointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants as auditor of the Company, was also approved by the shareholders.

Voting results are released in accordance with Toronto Stock Exchange requirements. Detailed voting results for the Meeting are available on SEDAR at www.sedar.com.

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

Liberty Gold Drills 1.78 g/t Au over 47.2 Metres including 3.24 g/t Au over 22.9 Metres in New Oxide Gold Discovery Zone, Black Pine Project, Great Basin, USA

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that new drilling at Black Pine in southern Idaho has intersected thick intervals of high grade oxide gold mineralization in a new area, greatly expanding the size potential of this Carlin-style gold system. All ten holes drilled to date in this area confirm the discovery (see January 5, 2018; April 11, 2018; and May 29, 2019 press releases).   

The drill holes in the current release targeted a 500 metre (“m”) wide gap between an area of known gold mineralization and a historic pit with flanking gold mineralization.  The drilling not only confirms that high grade oxide gold mineralization is present in the gap area, but it is also drill-confirmed evidence for the presence of a mineralized zone that is over one kilometre (“km”) long, remaining open for extension laterally in all directions.

Drill highlights include:

For a cross section and long section of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/june/BlackPine_NR06192019CSandLS.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/june/BlackPine_NR06192019Map.pdf

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/news/2019/june/BP_Intercepts06192019.pdf

Key Points

• Oxide gold is found throughout a 100 to 300 m thick, structurally prepared horizon, with higher grades encountered near the base of it in several wide structural corridors.

• All gold mineralization encountered to date in this area is oxide.

• Each drill hole in this new target zone returned strong oxide gold grades over 40 to 50 m down-hole, following a faulted stratigraphic zone near the base of the carbonate sequence. Six of the first ten released holes in this area returned significant intercepts in the 1.12 g/t Au to 1.78 g/t Au range.

• Approximately 30 to 60% of total drill hole lengths comprise gold above a cut-off grade of 0.20 g/t Au.

• Cyanide solubility for the significant intervals in this release averages 87%.

• All future drill holes are planned to drill the full receptive carbonate sequence above and through the lower contact.

To date the zone of favourable near-horizontal stratigraphy tested by Liberty Gold along the one km-long structural corridor has returned the following intercepts:

• LBP002 (2017): 1.49 g/t Au over 77.7 m
  
• LBP003 (2017): 0.61 g/t Au over 15.2 m
• LBP009 (2017): 0.69 g/t Au over 24.4 m
• LBP014 (2019): 1.19 g/t Au over 38.1 m
• LBP015 (2019): 1.51 g/t Au over 48.8 m
• LBP016 (2019): 1.45 g/t Au over 45.7 m
• LBP017 (2019): 0.45 g/t Au over 42.7 m
• LBP019 (2019): 0.40 g/t Au over 42.7 m
• LBP020 (2019): 0.75 g/t Au over 35.1 m and 1.12 g/t over 16.8 m
• LBP021 (2019): 1.78 g/t Au over 47.2 m

“After two years of preparatory compilation, modeling and permitting, our expectations were high, and these holes did not disappoint.  Drill holes LBP019 through LBP021 provide the proof of the potential of Black Pine to host significant gold mineralization in the extensive untested area beneath and lateral to historic pits and drilling, returning grades that are over twice what is currently being mined in open-pit heap leach scenarios in the Great Basin,” said Cal Everett, President & CEO of Liberty Gold. “100% of the discovery credit goes to a brilliant group of geologists with a storied history of association with several operating gold mines around the world.  With upwards of 85 metres of above-cut-off mineralization in several zones in some of these holes, we expect to be able to build tonnes and ounces rapidly over the course of our 2019 drilling program.” 

The Company has successfully confirmed its pre-drilling model, wherein oxide gold mineralization occurs within a 100 to 300 m thick receptive carbonate sequence, with higher grades encountered near the base of the carbonate sequence where it is cut by structural corridors up to several hundred m wide.  Historical 1992 – 1997 pits are located along these intersections.  Four additional holes are pending that will add to our understanding of the size and grade of this discovery.

“Our exploration model for the area we are currently drilling is that oxide gold is found in a thick, near-horizontal zone of favourable stratigraphy where it intersects a structural corridor of unknown width, forming an elongate, tabular zone of higher-grade mineralization,” said Moira Smith, V.P. Exploration and Geoscience for Liberty Gold.  “The zone of favourable stratigraphy underlies virtually the entire property at relatively shallow depth, and there are a number of potential structural corridors that have been identified through examination of historical drilling and mining data, as well as our own mapping efforts. B Pit to A Basin is just the first zone that we have tested so far and it remains open for extension.  We are beyond elated that our exploration model has been validated. We eagerly await the results from four pending holes in this zone, as well as testing of several other targets property-wide and the undrilled areas between them.”

ABOUT THE 2019 BLACK PINE DRILL PROGRAM

One Reverse Circulation (“RC”) drill was deployed on April 23, 2019 to drill an estimated 16,000 m in 80 to 100 holes to provide a comprehensive test of the core of an oxide gold system estimated at over 12 square km (“km2“) in size.  The drill program represents the culmination of over 2 years of intensive compilation, modeling and interpretation of the complex geology of the project, as well as a 20 month permitting process. The goal of the 2019 drill program is to carry out a comprehensive test of the geological and mineralization model over a roughly seven km2 area within the 12 km2 identified gold system, starting with a highly prospective area near the historic A and B pits. Extensive data compilation, involving over 1800 historic drill holes, thousands of surface soil and rock samples and 5 shallow pits, suggests that a large volume of rock under and adjacent to zones of previously drill-tested and/or mined gold mineralization contains highly prospective stratigraphy and favourable structural settings for hosting Carlin style gold mineralization.

Drill holes LBP019 through LBP021 tested 500 m of strike length along a northwest - southeast section line that stretched from the historic B Pit and the A Basin target (link to cross section and long section).  Two of the three holes intersected thick intervals of high grade oxide gold and the third hole intersected moderate grade. All holes are overlain by broad intervals of lower grade gold mineralization. 

Gold mineralization is hosted in complexly deformed strata of the Pennsylvanian to Permian Oquirrh Group, consisting of an upper sandstone unit structurally emplaced over carbonate and siliciclastic rocks, including limestone and dolostone, as well as calcareous and non-calcarous shale, siltstone and sandstone, which in turn overly Mississippian shale and limestone.  The carbonate sequence forms a highly prospective tectonostratigraphic sequence ranging from 100 to over 300 m thick.  The various rock units were subjected to late Cretaceous folding and thrusting, followed by low- to high-angle normal faulting in the early to middle Cenozoic.  The extensive deformation provided the architecture and plumbing for gold-bearing fluids to penetrate the rock and deposit very fine-grained gold in reactive calcareous siltstones and brecciated strata of all types. Liberty Gold has recognized several fault corridors that intersect the most prospective stratigraphic units; collectively these intersections of structure with stratigraphy form the primary targets for 2019 drilling.

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 g/t Au and average recovery of approximately 66%. 

A virtual site tour and 3D model of Black Pine is available on the homepage of the Company’s website: www.libertygold.ca

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 100% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.20 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law.}

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce it has signed a share purchase agreement (the “Agreement”) for the sale of its interest in the Halilağa copper gold porphyry deposit (“Halilağa” or “the Project”), located in Biga Province, northwest Türkiye, to Cengiz Holdings A.Ș. (“Cengiz”).  

Pursuant to the terms of the Agreement, Liberty Gold and its joint venture partner, Teck Madencilik Sanayi Ticaret A.Ș. (“Teck”), a subsidiary of Teck Resources Limited, have agreed to jointly sell their 100% interest in the company that holds the Project to Cengiz for US$55 million cash, to be paid in three stages over a two-year period.  The consideration will be apportioned 60% to Teck and 40% to Liberty Gold, pro-rata to their ownership interests.  Cengiz will acquire the Project by purchasing the shares in a Turkish corporation held by Teck and Liberty Gold (the “Transaction”). As a result of the Transaction, Liberty Gold will receive a total of US$22 million.

Cengiz is active in the fields of construction, energy, mining, metallurgy and the chemicals/fertilizer industries. It began its first activities in the late 1970s in construction, and is now one of Türkiye’s leading groups with more than 12 main companies, 96,000 employees and an annual turnover of US$6 billion. Within Cengiz’s mining and metallurgy operations, Cengiz’s subsidiaries Eti Bakir A.Ș. and Eti Aluminyum A.Ș. own and operate copper, aluminium, antimony, phosphate and coal mines throughout Türkiye and the Samsun Cathode Copper Smelter facility, Seydisehir Aluminium Electrolysis facility and Mazidagi Fertilizer and Metal recovery plants.

Terms of the Agreement:

 Closing of the Transaction is subject to customary conditions including the approval of the Turkish Ministry of Energy and Natural Resources (the “Ministry”).

The US$55 million purchase price will be paid in three stages as follows:

• US$35 million on the closing date (US$14 million to Liberty Gold).

• US$10 million on the first anniversary of the closing date (US$4 million to Liberty Gold).

• US$10 million on the second anniversary of the closing date (US$4 million to Liberty Gold).

ABOUT LIBERTY GOLD

Liberty Gold will continue to own 60% of the TV Tower project in the Biga Province that contains a large number of exploration targets ranging from high-sulphidation and low-sulphidation epithermal gold-silver and three drill confirmed porphyry copper-gold discoveries.

Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, the closing of the Transaction, the receipt of the staged payments, the approval of the Transaction by the Turkish Ministry of Energy and Natural Resources, 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law.

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that new drilling at Black Pine in southern Idaho has successfully intersected another thick zone of high grade oxide gold mineralization, expanding the size and potential of this Carlin–style gold system.  This second discovery intercept of 1.78 grams per tonne gold (“g/t Au”) over 48.8 metres (“m”) in drill hole LBP023 is located beneath the limit of historical drilling approximately 240 m to the northeast of drill hole LBP021, which returned 1.78 g/t Au over 47.2 m, as reported in the June 19, 2019 press release.   

Drill hole LBP023 is the first hole targeting a 500 m-wide gap between the kilometer (“km”)-long northwest-trending corridor of gold mineralization reported in the press release referenced above, and a high-grade zone of gold mineralization below a historic pit to the east.  The drilling confirms that high grade oxide gold mineralization is present in the gap area, with the intercept located only 65 m below the floor of the pit. 

The true significance of this discovery in terms of size and grade awaits the results of further drilling and assaying.  The current interpretation is that this discovery may be the first drill hole in a second, parallel, high-grade, gold-bearing structural corridor crossing a favorable, near-horizontal stratigraphic unit. There is no drilling between the two trends and the alternate possibility exists that they may be part of one larger zone.

Drill highlights include:

For a cross section of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/july/BlackPine_NR072019CS.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/july/BlackPine_NR072019Map.pdf

For a complete table of drill results from all Liberty Gold drill holes at Black Pine, please click here:  http://libertygold.ca/images/news/2019/july/BP_Intercepts072019.pdf

Key Points

• Oxide gold is found throughout a 100 to 300 m thick, structurally prepared stratigraphic horizon, with higher grades encountered near the base of it in a number of structural corridors.

• All gold mineralization encountered to date in this area is oxide.

• LBP023 is the first test on what is currently interpreted as a new structural corridor parallel to that announced in the June 19, 2019 press release. Historic drilling over much of this area is very shallow, with the average hole length approximately 93 m.

• Weighted average cyanide solubility for the 48.8 m interval of gold mineralization in LBP023 is 89%, illustrating the strongly oxidized nature of this zone.

• The mineralized interval in LBP023 ranks 4^th on a list of 500 unmined drill intercepts on the property as defined by gold in grams x thickness in metres. Four of the top 10 unmined intercepts were drilled by Liberty Gold.  All holes completed by Liberty Gold through the target zone contain intercepts above 0.20 g/t Au.

• The existence of multiple, parallel corridors of gold mineralization as an exploration model is shown on the cross section, and extrapolated property-wide on the map.

“Our understanding of the controls on gold mineralization continues to evolve with every hole that we drill,” said Moira Smith, V.P. Exploration and Geoscience for Liberty Gold. “Our model-driven, continuously-updated approach to planning every hole has rewarded us with exceptional drill results to date, and we hope this trend continues as we test new targets.”

ABOUT THE 2019 BLACK PINE DRILL PROGRAM

One Reverse Circulation (“RC”) drill was deployed on April 23, 2019, with a second drill added on June 18, to drill an estimated 16,000 m in 80 to 100 holes to provide a comprehensive test of the core of an oxide gold system estimated at over 12 square km (“km2“) in size.  The drill program represents the culmination of over 2 years of intensive compilation, modeling and interpretation of the complex geology of the project, as well as a 20 month permitting process. The goal of the 2019 drill program is to carry out a comprehensive test of the geological and mineralization model over a roughly seven km2 area within the 12 km2 identified gold system, starting with a highly prospective area near the historic A and B pits. Extensive data compilation, involving over 1800 historic drill holes, thousands of surface soil and rock samples and 5 shallow pits, suggests that a large volume of rock under and adjacent to zones of previously drill-tested and/or mined gold mineralization contains highly prospective stratigraphy and favourable structural settings for hosting Carlin style gold mineralization.

Gold mineralization is hosted in complexly deformed strata of the Pennsylvanian to Permian Oquirrh Group, consisting of an upper sandstone unit structurally emplaced over carbonate and siliciclastic rocks, including limestone and dolostone, as well as calcareous and non-calcareous shale, siltstone and sandstone, which in turn overlie Mississippian shale and limestone.  The carbonate sequence forms a highly prospective tectonostratigraphic sequence ranging from 100 to over 300 m thick.  The various rock units were subjected to late Cretaceous folding and thrusting, followed by low- to high-angle normal faulting in the early to middle Cenozoic.  The extensive deformation provided the architecture and plumbing for gold-bearing fluids to penetrate the rock and deposit very fine-grained gold in reactive calcareous siltstones and brecciated strata of all types. Liberty Gold has recognized several fault corridors that intersect the most prospective stratigraphic units; collectively these intersections of structure with stratigraphy form the primary targets for 2019 drilling.

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 g/t Au and average recovery of approximately 66%. 

A virtual site tour and 3D model of Black Pine property is available on the homepage of the Company’s website: www.libertygold.ca.

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 100% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.20 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law.}

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce Ron Parratt has joined the Company as a senior advisor. Ron has over 40 years of exploration experience for precious metals including service with Santa Fe Pacific Gold Corp., Homestake Mining Company, AuEx Ventures Inc. and Renaissance Gold Inc. During his years of precious metals experience, Ron had direct involvement in the discovery of several large gold deposits, including Rabbit Creek (now Twin Creeks (>10 million ounces), Lone Tree (5 million ounces), Trenton Canyon (1 million ounces), Gold Hill (2 million ounces) and Long Canyon (>3 million ounces) gold mines in the Great Basin of Nevada.

Ron is a graduate of Purdue University with degrees in geochemistry and economic geology. He is a Certified Professional Geologist with the American Institute of Professional Geologists, a Registered Geologist in California and a Professional Geologist in Wyoming. He is a Fellow of the Society of Economic Geologists and a past President of the American Exploration and Mining Association. Ron is a Distinguished Member of Society for Mining, Metallurgy and Exploration and a current board member of the society. He is also a member of the elite Casey Explorers’ League.

Moira Smith, V.P. Exploration and Geoscience for Liberty Gold, comments, “Ron is one of the most well-known and respected gold explorers in North America, with an unparalleled track record of discovery and development of gold deposits in the Great Basin.  He is knowledgeable about all aspects of the exploration process, from geology to metallurgy, engineering, project management and finance, with a knack for recognizing a gold deposit in the early stages of exploration. His acceptance of this role with Liberty Gold is a vote of confidence in our flagship assets, and look forward to moving them forward together.”

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

Confirms 1 Kilometer-Long High-Grade Oxide Gold Zone, Black Pine Project,

Great Basin, USA

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that ongoing drilling at Black Pine in southern Idaho continues to intersect thick zones of high-grade oxide gold mineralization, demonstrating continuity along a northwest-trending zone that we can now document is at least one kilometer (“km”) long and expanding the size and potential of this Carlin–style gold system.  The new drill results represent some of the best and highest grade unmined drill intercepts on the property, as measured by grade multiplied by thickness.   

A second drill has been added to the project to focus on a second discovery located 240 metres (“m”) to the east of the first.  To date, there is only a single drill hole in this area, LBP023, which returned 1.78 grams per tonne gold (“g/t Au”) over 48.8 m, including 4.72 g/t Au over 15.2 m¹.  This may represent the first hole into another zone parallel to the first.

Drill highlights include:

• 2.56 g/t Au over 41.1 m, including 4.47 g/t Au over 19.8 m, and including 8.76 g/t Au over 4.6 m in LBP029
• 2.18 g/t Au over 10.7 m, including 2.90 g/t Au over 7.6 m and 2.89 g/t Au over 25.9 m, including 4.52 g/t Au over 15.2 m and including 6.63 g/t Au over 6.1 m in LBP027
• 1.36 g/t Au over 32.0 m, including 1.95 g/t Au over 16.8 m in LBP025
• 0.93 g/t Au over 12.2 m and 0.67 g/t Au over 10.7 m and 1.14 g/t Au over 25.9 m, including 4.17 g/t Au over 4.6 m in LBP028

Multiple zones of gold mineralization above a 0.20 g/t Au cutoff grade are present in all drill holes.

For a cross section of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/july/BlackPine_NR07312019CS.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/july/BlackPine_NR07312019Map.pdf

For a complete table of drill results from all Liberty Gold drill holes at Black Pine, please click here:  http://libertygold.ca/images/news/2019/july/BP_Intercepts07312019.pdf

Key Points             

• Recent drilling provides evidence for excellent continuity of high-grade mineralization along a northwest-trending corridor at least 1000 m long. Additional drill pads have been constructed to test for continuity over an expanded, 1.5 km-long corridor.
• LBP027 and LBP029 contain long intercepts with the highest grades drilled to date in this zone.
• All gold mineralization encountered in the highlight intercepts to date is oxide. Weighted average cyanide solubility for the long, high-grade intervals in LBP027 and LBP029 is 95% and 96%, respectively.  
• The mineralized interval in LBP029 ranks 2^nd on a list of 500 unmined drill intercepts on the property as defined by gold in grams multiplied by thickness in metres. Five of the top 11 unmined intercepts were drilled by Liberty Gold based on assays received for 33 holes to date, including three of the top five. 

Drilling in August will focus on areas flanking the mineralized corridor, in order to assess the width of the gold mineralized zone, on the area around the second discovery hole, LBP023, and an area beneath the east end of the historic A Pit. 

“High grade oxide gold discoveries in the Great Basin have been rare over the last 20 years,” stated Cal Everett, President & CEO of Liberty Gold.  “Liberty Gold intends to define the size and grade of the two discoveries to date, then we will push outward from there.  Never wander when you are within it. Internal modelling suggests that approximately 90 drill holes will be required by year end to define gold mineralization in this area.”

¹See July 15 2019 press release for details.  Please note that some of the interval grades in previous press releases and the table have been revised slightly to reflect the consistent use of duplicate samples and gravimetric analysis for individual samples that assay >5.0 g/t Au.  Liberty Gold does not consider these changes to be material.

ABOUT THE 2019 BLACK PINE DRILL PROGRAM

One Reverse Circulation (“RC”) drill was deployed on April 23, 2019, with a second drill added on June 18, to drill an estimated 16,000 m in 80 to 100 holes to provide a comprehensive test of the core of an oxide gold system estimated at over 12 square km (“km2“) in size.  The drill program represents the culmination of over 2 years of intensive compilation, modeling and interpretation of the complex geology of the project, as well as a 20 month permitting process. The goal of the 2019 drill program is to carry out a comprehensive test of the geological and mineralization model over a roughly seven km2 area within the 12 km2 identified gold system, starting with a highly prospective area near the historic A and B pits. Extensive data compilation, involving over 1800 historic drill holes, thousands of surface soil and rock samples and 5 shallow pits, suggests that a large volume of rock under and adjacent to zones of previously drill-tested and/or mined gold mineralization contains highly prospective stratigraphy and favourable structural settings for hosting Carlin style gold mineralization.

Gold mineralization is hosted in complexly deformed strata of the Pennsylvanian to Permian Oquirrh Group, consisting of an upper sandstone unit structurally emplaced over a sequence of carbonate and siliciclastic rocks, including limestone and dolostone, calcareous and non-calcarous shale, siltstone and sandstone, which in turn overly Mississippian shale and limestone.  The carbonate sequence forms a highly prospective tectonostratigraphic sequence ranging from 100 to over 300 m thick.  The various rock units were subjected to late Cretaceous folding and thrusting, followed by low- to high-angle normal faulting in the early to middle Cenozoic.  The extensive deformation provided the architecture and plumbing for gold-bearing fluids to penetrate the rock and deposit very fine-grained gold in reactive calcareous siltstones and brecciated strata of all types. Liberty Gold has recognized several moderate-angle normal fault corridors that intersect the most prospective stratigraphic units; collectively these intersections of structure with prospective stratigraphy form the primary targets for 2019 drilling.

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 g/t Au and average recovery of approximately 66%. 

A virtual site tour and 3D model of Black Pine property is available on the homepage of the Company’s website: www.libertygold.ca.

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 100% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.20 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Black Pine, Goldstrike  and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law.}

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, 2019. 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 region that is home to large-scale oxide gold systems ideal for open-pit 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:

• We announced the signing of a definitive agreement to sell the Halilağa porphyry copper gold deposit in Turkey (the “Halilağa Agreement”)[1]. The $55 million consideration will be apportioned 60% to Teck Resources Ltd. and 40% to Liberty Gold, pro-rata to their ownership interests, and will be paid in three stages as follows[2]:
  • $35 million on the closing date ($14 million to Liberty Gold),
  • $10 million on the first anniversary of the closing date ($4 million to Liberty Gold),
  • $10 million on the second anniversary of the closing date ($4 million to Liberty Gold).

At Black Pine:

• We announced two new discoveries: the first in the 500 metre (“m”) wide gap between an area of known gold mineralization and a historic pit with flanking gold mineralization, and the second located 240 m to the east, in an area with no nearby drill holes at the discovery depth.
• Drill result highlights from our ongoing16,000m reverse circulation (“RC”) drill program include[3]:

• Discovery 1:
• 2.56 grams per tonne gold (“g/t Au”) over 41.1 m, including 4.47 g/t Au over 19.8 m, and including 8.76 g/t Au over 4.6 m in LBP029
• 2.18 g/t Au over 10.7 m, including 2.90 g/t Au over 7.6 m and 2.89 g/t Au over 25.9 m, including 4.52 g/t Au over 15.2 m and including 6.63 g/t Au over 6.1 m in LBP027
• 1.36 g/t Au over 32.0 m, including 1.95 g/t Au over 16.8 m in LBP025
• 1.51 g/t Au over 48.8 m including 5.42 g/t Au over 6.1m, and including 8.17 g/t Au over 3 m and including 10.4 g/t Au over 1.5 m in LBP015
• 1.78 g/t Au over 47.2 m including 3.24 g/t Au over 22.9 m in LBP021
• 1.45 g/t Au over 45.7 m including 1.99 g/t Au over 29.0 m in LBP016, and
• 1.19 g/t Au over 38.1 m including 1.63 g/t Au over 25.9 m in LBP014

• Discovery 2:
• 1.78 g/t Au over 48.8 m including 4.72 g/t Au over 15.2 m in LBP023
• 2 RC drills are currently focussed on defining the strike orientation of the second discovery.

At Goldstrike:

• We announced the results of our phase 2 metallurgical testing, providing additional support for a simple heap leach mining scenario[4]:
  • Twenty-nine coarse bottle roll tests (target 80% passing 10 mesh or 1.7mm particle size) produced a weighted average 84.4% gold extraction.
  • Twenty-nine fine bottle roll tests (target 80% passing 200 mesh or 75 micron particle size) produced a weighted average 89.7% gold extraction.
  • Gold extractions from 29 column tests were rapid, and >80% of the leachable gold was extracted within 10 days, with final column leach gold extractions ranging up to 95%.

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, 2019 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:

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.  

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Goldstrike, expected gold and silver recoveries from the Goldstrike mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Goldstrike and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. 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, the closing of the Halilağa Agreement, the receipt of the staged payments, the approval of the Transaction by the Turkish Ministry of Energy and Natural Resources, 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 27, 2019 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

^{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

^{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 unless required by law.}

[1] See press release dated July 12, 2019.

[2] Closing of the transaction under the Halilağa Agreement is subject to customary conditions including the approval of the Turkish Ministry of Energy and Natural Resources

[3] See press releases dated May 29, 2019,  June 19, 2019,  July 15, 2019 and July 31, 2019

[4] See press release dated May 28, 2019

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that it has entered into an agreement with Sprott Capital Partners LP to act as lead underwriter (the “Lead Underwriter”), on its own behalf and, if applicable, on behalf of a syndicate of underwriters (collectively with the Lead Underwriter, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase for their own account or arrange for substituted purchasers to purchase on a bought-deal private placement basis 24,000,000 common shares of the Company (the “Common Shares”), at a price of C$0.55 per Common Share, for gross proceeds of C$13,200,000 (the “Offering”).    

The Company has granted the Underwriters an option, exercisable in whole or in part at any time up to three days prior to the closing of the Offering, to purchase up to such number of Common Shares as is equal to 20% of the number of Common Shares initially purchased as part of the Offering.

The net proceeds of the Offering will be used to fund exploration and development of Liberty Gold’s southwest United States gold and precious metal exploration portfolio, primarily focused on accelerating exploration and resource growth at the Black Pine project in Southern Idaho.  Black Pine is a large, drill confirmed, Carlin Style oxide gold discovery where initial 2019 drill results have confirmed two high grade oxide gold discoveries within a core permitted 7.3 square kilometer area. Proceeds will be used to continue aggressively drilling the project and expanding the footprint of this large gold system.  In addition, the company plans to immediately add a third drill to the project for phase 1 metallurgical testing in advance of a proposed 4 drill definition drill program in 2020. Metallurgical results would be anticipated near the end of Q1 2020, followed by an initial resource estimate and advancement to an economic study by year end.

Proceeds will also be allocated to the Goldstrike project in Utah, the Kinsley deposit in Nevada and for general working capital purposes.

The Offering is scheduled to close on or about September 10, 2019 and is subject to a number of conditions including, but not limited to, receipt of all necessary approvals including the approval of the Toronto Stock Exchange and applicable securities regulatory authorities.

THIS NEWS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE AND IS NOT AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OF LIBERTY GOLD, NOR SHALL IT FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH ANY CONTRACT FOR PURCHASE OR SUBSCRIPTION. THE COMMON SHARES OF LIBERTY GOLD WILL ONLY BE OFFERED IN ALL PROVINCES OF CANADA BY MEANS OF THE PROSPECTUS REFERRED TO ABOVE. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS, AND THESE SECURITIES MAY NOT BE OFFERED OR SOLD TO, OR FOR THE ACCOUNT OR BENEFIT OF, PERSONS IN THE UNITED STATES OR “U.S. PERSONS” (AS SUCH TERM IS DEFINED IN REGULATION S PROMULGATED UNDER THE U.S. SECURITIES ACT), ABSENT REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION THEREUNDER.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring 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.  Our flagship projects are Black Pine, Goldstrike and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

_{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 regarding the expected use of proceeds and closing date of the Offering. 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 licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, the release of an initial resource report,  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; 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 27, 2019 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 unless required by law.}

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that it has closed its previously announced bought deal financing for aggregate gross proceeds of C$15,840,000 (the “Offering”).

A syndicate of underwriters led by Sprott Capital Partners and including Haywood Securities Inc., National Bank Financial Inc. and BMO Nesbitt Burns Inc. (collectively, the “Underwriters”) purchased, on a bought deal basis, 28,800,000 common shares of the Company (the “Common Shares”), inclusive of 4,800,000 Common Shares issued upon exercise of the Underwriters’ over-allotment option, at a price of C$0.55 per Common Share (the “Issue Price”) for aggregate gross proceeds to the Company of C$15,840,000.

The net proceeds of the Offering will be used to fund exploration and development of Liberty Gold’s southwest United States gold and precious metal exploration portfolio, primarily focused on accelerating exploration and resource growth at the Black Pine project in Southern Idaho.  Black Pine is a large, drill confirmed, Carlin Style oxide gold discovery where initial 2019 drill results have confirmed two high grade oxide gold discoveries within a core permitted 7.3 square kilometer area. Proceeds will be used to continue aggressively drilling the project and expanding the footprint of this large gold system.  In addition, the company plans to immediately add a third drill to the project for phase 1 metallurgical testing in advance of a proposed 4 drill definition drill program in 2020. Metallurgical results would be anticipated near the end of Q1 2020, followed by an initial resource estimate and advancement to an economic study by year end.

The Common Shares issued pursuant to the Offering are subject to a four month and one day hold period expiring on January 11, 2020.

Insiders of the Company purchased 4,446,000 Common Shares pursuant to the Offering and accordingly the Offering constitutes a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). This transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(a) of MI 61-101 as neither the fair market value of any of the securities issued to nor the consideration paid by such persons exceeds 25.0% of the Company’s market capitalization. 

THIS NEWS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE AND IS NOT AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OF LIBERTY GOLD, NOR SHALL IT FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH ANY CONTRACT FOR PURCHASE OR SUBSCRIPTION. THE COMMON SHARES OF LIBERTY GOLD WILL ONLY BE OFFERED IN ALL PROVINCES OF CANADA BY MEANS OF A PROSPECTUS. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS, AND THESE SECURITIES MAY NOT BE OFFERED OR SOLD TO, OR FOR THE ACCOUNT OR BENEFIT OF, PERSONS IN THE UNITED STATES, ABSENT REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION THEREUNDER.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring 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.  Our flagship projects are Black Pine, Goldstrike and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

_{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 regarding the expected use of proceeds, plans to immediately add a third drill to the Black Pine Project and timing of the anticipated metallurgical results and an initial resource estimate. 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 licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, the release of an initial resource report,  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; 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 27, 2019 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 unless required by law.}

Defines Second Zone of High-Grade Oxide Gold Mineralization; Open in All Directions

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that ongoing drilling at Black Pine in southern Idaho is starting to define a second, high-grade zone of oxide gold mineralization (Discovery 2) subparallel to and 250 metres (“m”) northeast of Discovery 1 (see May 29 July 15 and July 31, 2019 Press Releases).  The new drill results represent some of the longest and highest-grade intercepts ever drilled on the property.   

Discovery 2 was announced on July 15, 2019 with the release of LBP023, which returned 1.78 grams per tonne gold (“g/t Au”) over 48.8 m, including 4.72 g/t Au over 15.2 m. With the current release, a total of eight reverse circulation (“RC”) holes have been released for the Discovery 2 zone, with assay results pending for an additional 10 holes.  The released holes cover an area with dimensions of approximately 250 m x 50 m; by analogy with the 1 kilometre-long Discovery 1 zone, as well as similar visual characteristics in pending holes, Liberty Gold believes that this represents a small portion of the total strike length of the Discovery 2 zone.  The two zones are projected to converge near the northern margin of the historic B Pit, which had an average mined grade of 1.38 g/t Au.

“It has been several years since anyone has announced a new discovery with results like these for a shallow oxide Carlin gold system in the Great Basin,” stated Cal Everett, President & CEO of Liberty Gold.  “In the first square kilometre of the 12 square kilometre Black Pine oxide gold system, we have already identified two high-grade structures, with indications that more may be present.  We estimate this square kilometre alone to contain approximately 200 million tonnes of high-potential carbonate rock favourable for hosting Carlin-style gold mineralization, so there is certainly room for a large deposit. Going forward, Liberty Gold intends to define the dimensions, size and grade of the two new discoveries to date in 2019, then will push outward into testing new targets. It is important to note that these zones are potentially open pittable and amenable to processing using simple, low cost heap leach methods, making the high grades and lengths we are seeing even more exceptional.”

DRILL HIGHLIGHTS INCLUDE:

For a cross section of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/september/BlackPine_NR09122019CS.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/september/BlackPine_NR09122019Map.pdf

For a complete table of drill results from all Liberty Gold drill holes at Black Pine, please click here:  http://libertygold.ca/images/news/2019/september/BP_Intercepts09122019.pdf

Key Points             

• Current drill results, including LBP043, LBP044 and LBP048, represent some of the strongest gold intercepts ever drilled on the Black Pine Property, as defined by grade in grams by length in metres (“g/t Au x m”). LBP043 is the sixth strongest gold intercept amongst all holes drilled on the property, including both mined and unmined intercepts.
• Together with LBP023, these holes define a NW-trending zone approximately 200 m long and 50 m wide and open in all directions. It is roughly parallel to but slightly more northerly-trending than the Discovery 1 zone.
• Gold mineralization encountered in the highlight intercepts to date is oxide. Average cyanide solubility for the primary high-grade interval in LBP043 is 97%, for LBP044, 90%, and for LBP045, 94%.
• LBP043 is the top unmined intercept drilled to date on the property, as defined by g/t Au x m, followed by LBP002 and LBP029. Five of the top 10 unmined intercepts were drilled by Liberty Gold. 
• Multiple zones of gold mineralization above a 0.20 g/t Au cutoff grade are present in all drill holes above the high grade intercepts. In hole LBP048, for example, there is 93 m of above cut-off (0.20 g/t Au) mineralization above the lower, high-grade intercept.
• Additional results for nine holes are pending for Discovery 1.

Drilling in September will continue to focus on extensions to the northwest and southeast along the Discovery 1 and 2 zones, as well as testing of two potential new zones located further to the east. A diamond core drill will be added at the end of September to drill six to eight large diameter core holes for metallurgical column testing.

ABOUT THE 2019 BLACK PINE DRILL PROGRAM

One Reverse Circulation (“RC”) drill was deployed on April 23, 2019, with a second drill added on June 18, to drill an estimated 16,000 m in 80 to 100 holes to provide a comprehensive test of the core of an oxide gold system estimated at over 12 square kilometres (“km2”) in size.  The drill program represents the culmination of over 2 years of intensive compilation, modeling and interpretation of the complex geology of the project, as well as a 20 month permitting process. The goal of the 2019 drill program is to carry out a comprehensive test of the geological and mineralization model over a roughly seven km2 area within the 12 km2 identified gold system, starting with a highly prospective area near the historic A and B pits. Extensive data compilation, involving over 1800 historic drill holes, thousands of surface soil and rock samples and 5 shallow pits, suggests that a large volume of rock under and adjacent to zones of previously drill-tested and/or mined gold mineralization contains highly prospective stratigraphy and favourable structural settings for hosting Carlin-style gold mineralization.

Gold mineralization is hosted in complexly deformed strata of the Pennsylvanian to Permian Oquirrh Group, consisting of an upper sandstone unit structurally emplaced over a sequence of carbonate and siliciclastic rocks, including limestone and dolostone, calcareous and non-calcarous shale, siltstone and sandstone, which in turn overly Mississippian shale and limestone.  The carbonate sequence forms a highly prospective tectonostratigraphic sequence ranging from 100 to over 300 m thick.  The various rock units were subjected to late Cretaceous folding and thrusting, followed by low- to high-angle normal faulting in the early to middle Cenozoic.  The extensive deformation provided the architecture and plumbing for gold-bearing fluids to penetrate the rock and deposit very fine-grained gold in reactive calcareous siltstones and brecciated strata of all types. Liberty Gold has recognized several moderate-angle normal fault corridors that intersect the most prospective stratigraphic units; collectively these intersections of structure with prospective stratigraphy form the primary targets for 2019 drilling.

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 g/t Au and average recovery of approximately 66%. 

A virtual site tour and 3D model of Black Pine property is available on the homepage of the Company’s website: www.libertygold.ca.

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 100% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.20 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Black Pine, Goldstrike and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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 regarding plans to add a core drill to the Black Pine Project and timing of the anticipated metallurgical results, potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law}

Liberty Gold Drills Thick, High-Grade Carlin-Style Gold Mineralization at the Black Pine Project, Idaho, USA, Including 2.51 g/t Oxide Gold over 41.1 Metres and 0.94 g/t Au over 100.6 Metres

Results Continue to Expand Second Zone of High-Grade Oxide Gold Mineralization; Still Open in All Directions

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that drilling at Black Pine in southern Idaho, USA, continues to return thick, high-grade intervals of Carlin-style oxide gold mineralization. New results from Discovery 2 expand the footprint of mineralization and confirm the Company thesis that previous operators did not test laterally and to depth in this 12 square kilometer (“km2) sedimentary rock-hosted gold system.

DISCOVERY 2 ZONE DRILL HIGHLIGHTS INCLUDE1:

¹A number of mineralized intervals were omitted from this table for brevity. Please refer to the full table at the link below for complete results.  Grams per Tonne Gold abbreviated as “g/t Au”.

For a cross section and long sections of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/october/BlackPine_NR10012019CS.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/news/2019/october/BlackPine_NR10012019Map.pdf

For a complete table of drill results from all Liberty Gold drill holes at Black Pine, please click here:  http://libertygold.ca/images/news/2019/october/BP_Intercepts10012019.pdf

The Discovery 2 zone continues to deliver high grades along a north-northwest-striking feeder fault corridor, as well as long intervals of approximately 1 g/t Au in the footwall area to the east.  Liberty Gold believes that this represents a small portion of the total strike length of the Discovery 2 zone.  The two zones are projected to converge near the northern margin of and below the historic B Pit, with an average mined grade of 1.38 g/t Au.

Key Points             

• The Discovery 2 Zone remains open in all directions.  The target stratigraphic interval in the initial 1 km² Focus Area (the “Focus Area”) is still largely untested.  This interval also extends throughout most areas of the 12 km gold system, which also awaits drill testing.
• Drill holes LBP054 and LBP055 were drilled in the hangingwall of the mineralized fault corridor represented by LBP043, representing a 50 to 100 m step-out to the east.  Both returned long intercepts consisting of approximately 100 m of gold mineralization averaging approximately 1 g/t Au. 
• In total, LBP055 contains 164.4 m of gold mineralization at or above the reportable cut-off (0.2 g/t Au) in the first 265.2 m of the hole.
• Likewise, LBP054 contains 172.2 m of gold mineralization at or above the reportable cut-off (0.2 g/t Au) in the first 345.9 m of the hole.
• All highlight intercepts to date are oxide. Weighted average cyanide solubility for the primary high-grade interval in LBP051 is 89%, for LBP055, 89%, and for LBP056, 91%.     
• Drill hole LBP052, located approximately 200 m northeast of the presently-defined limits of the Discovery 2 Zone, may represent a new “Discovery 3” zone of mineralization. Nearby historic RC hole 87-127 bottomed in 16.8 m grading 2.42 g/t Au.
• With the new drilling in the Discovery 2 zone, seven of the top 10 unmined intercepts on the Black Pine Property have been drilled by Liberty Gold. 
• A core drill was added to the project on September 24 to obtain material for metallurgical testing, specific gravity measurements, validation of RC drill holes and structural, mineralogical and stratigraphic studies.

“We continue to be extremely happy with the results coming out of Black Pine,” stated Moira Smith, VP, Exploration and Geoscience. “It is hard to overstate the potential significance of the grades and widths of mineralization encountered in this drilling, given that our target is a low capital and operating cost, bulk tonnage, heap-leachable oxide gold deposit. High-grade intercepts of greater than 1.0 g/t Au are hosted in a relatively flat-laying calcareous sandstone unit outcropping in the historic B Pit, A Basin and A Pit. Our drilling to date is starting to connect these three areas under the ridge with zones of continuous mineralization.  Historic and Liberty Gold drilling demonstrates that the rock overlying the high-grade zones also contains broad areas of oxide gold mineralization, with intercepts typically ranging from 0.20 to 0.60 g/t Au. Based on the results received to date, we anticipate a low overall strip ratio. We intend to accelerate the drill program in 2020.”

DISCOVERY 1 ZONE NEW RESULTS

Results were also received for infill and step-out holes in the Discovery 1 zone.  Additional step out drilling will be carried out to extend this zone to the northwest, and to better define the transition of this zone into historic B pit mineralization to the southeast. It is presently approximately 150 to 200 m wide and 1 km long and may continue to the southeast on the south side of the B pit complex, beyond the limits of the Focus Area. 

DISCOVERY 1 ZONE DRILL HIGHLIGHTS INCLUDE:

Drilling in October will continue to focus on step-outs to the Discovery 1 and 2 zones, as well as testing of two potential new zones located further to the east. 

ABOUT THE 2019 BLACK PINE DRILL PROGRAM

One Reverse Circulation (“RC”) drill was deployed on April 23, 2019, with a second drill added on June 18, to drill an estimated 20,000 m in 80 to 100 holes to provide a comprehensive test of a portion of the core of an oxide gold system estimated at over 12 km² in size.  A diamond core drill was added on September 24 to drill an estimated 1600 m program. The drill program represents the culmination of over 2 years of intensive compilation, modeling and interpretation of the complex geology of the project, as well as a 20 month permitting process. The goal of the 2019 drill program is to carry out a comprehensive test of the geological and mineralization model over a roughly one km2 Focus Area encompassing a highly prospective location near the historic A and B historic pits, in order to establish and refine the model for use throughout the project area. Extensive data compilation, involving over 1800 historic drill holes, thousands of surface soil and rock samples and 5 shallow pits, suggests that a large volume of rock under and adjacent to zones of previously drill-tested and/or mined gold mineralization contains highly prospective stratigraphy and favourable structural settings for hosting Carlin-style gold mineralization.

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 g/t Au and average recovery of approximately 66%. 

A virtual site tour and 3D model of Black Pine property, including details about the geology and mineralization, is available on the homepage of the Company’s website, www.libertygold.ca, and in a Technical Report also available on the Company website.

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 100% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.20 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Black Pine, Goldstrike and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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 regarding timing of the anticipated metallurgical results, potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law}

Liberty Gold Extends High-Grade Carlin-Style Gold Mineralization at the Black Pine Project, Idaho, USA Including 3.14 g/t Oxide Gold over 44.2 Metres and 4.56 g/t Oxide Gold over 9.1 Metres 

Assay Results from the Goldstrike Project, Utah and RC Drilling Commences at the Kinsley Project, Nevada

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to provide an update on field activities at its three flagship Carlin-style gold properties in the eastern Great Basin: Black Pine in southern Idaho, Goldstrike in southwestern Utah and Kinsley in eastern Nevada.  All properties are past-producing mines that successfully produced gold in simple, run-of-mine oxide heap leach operation in the 1990s.

BLACK PINE DRILLING
Reverse Circulation (“RC”) drilling at Black Pine continues to return thick, high-grade intervals of Carlin-style oxide gold mineralization. New results from the Discovery 2 Zone expand the footprint of mineralization to a width of 175 metres (“m”), remaining open for extension in all directions.

DISCOVERY 2 ZONE DRILL HIGHLIGHTS INCLUDE¹:

^{1A number of mineralized intervals were omitted from this table for brevity. Please refer to the full table at the link below for complete results.  Grams per Tonne Gold abbreviated as “g/t Au”.}

For a cross section of drill collars and traces for the current release, please click here:  https://libertygold.ca/images/news/2019/october/BlackPine_NR10152019CS.pdf

For a map of drill collars and traces for the current release, please click here:  https://libertygold.ca/images/news/2019/october/BlackPine_NR10152019Map.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/2019/october/BP_Intercepts10152019.pdf

The Discovery 2 Zone continues to deliver high grades along a north-striking feeder fault corridor, as well as long intervals of gold mineralization in the footwall area to the east.  Liberty Gold believes that the area tested to date represents a small portion of the total strike length of the Discovery 2 Zone.  The Discovery 1 and Discovery 2 Zones are projected to converge near the northern margin of and below the historic B Pit, approximately 400 m to the south, with an average historical mined grade of 1.38 g/t Au.

Key Points      

• The Discovery 2 Zone remains open in all directions, and continues to deliver thick, high-grade oxide gold intercepts in drill holes. 
• All highlight intercepts to date are oxide. Weighted average cyanide solubility for the primary high-grade interval in LBP062 is 92%, for LBP063, 92%, and for LBP058, 88%.     
• Drill hole LBP062 is located northeast of drill hole LBP051, which returned 2.52 g/t Au over 41.1 m in the target stratigraphic interval.
• The high-grade target stratigraphic horizon in the initial 1 square kilometer (“km²”) Focus Area (the “Focus Area”) is still largely untested.  The horizon extends throughout most areas of the 12 km² gold system, which also awaits drill testing.

With the new drilling in the Discovery 2 Zone, seven of the top 10 unmined intercepts on the Black Pine Property have been drilled by Liberty Gold, including the top five.  (There are 1398 historic holes with greater than 1 gram-meter unmined gold intercepts on the property, compared to 61 holes with reportable intercepts drilled to date by Liberty Gold.)

Click here for a list of the top 500 unmined gold intercepts at Black Pine: https://libertygold.ca/images/news/2019/october/BlackPine_NR10152019HH.pdf

Core drilling at Black Pine commenced on September 24. The large-diameter core program will obtain material to fulfill several goals, including: Phase 1 metallurgical column testing; specific gravity measurements; gold deportment studies; validation of RC data; and collection of structural, stratigraphic and alteration information.

Click here for a link to photographs of PQ-sized drill core from presumed high grade intervals in LBP067C, a twin of LBP043: https://libertygold.ca/images/news/2019/october/BlackPine_NR10152019Photos.pdf

RC Drilling continues with two RC drill rigs in a 1 km² area between the historic A Pit, B Pit and A Basin target.

GOLDSTRIKE DRILLING

Liberty Gold is pleased to announce results from Phase 1 2019 drilling from its Goldstrike Oxide Gold Project in southwestern Utah. The drilling program focused on extensions to gold mineralization in three portions of the resource area, namely the Western Zone, Main Zone and Dip Slope Zone, for the purpose of further resource delineation. Mineral Resources at Goldstrike currently stand at 57.8 million tonnes grading 0.50 (g/t Au) for 925,000 Indicated ounces and 19.6 million tonnes grading 0.47 g/t Au for 296,000 Inferred ounces[2].

A Preliminary Economic Assessment (“PEA”) with a mine scoped as a simple, low cost oxide heap-leach operation using US$1300/ounce gold price will return an after-tax Net Present Value at a 5% discount rate (“NPV⁵”) of US$129.5 million dollars, and an after-tax Internal Rate of Return (“IRR”) of 29.4%². At the current gold price of US$1500/ounce, a sensitivity analysis shows an after tax NPV⁵ of US$210.6 million dollars and an IRR of 41.5%.

Click here for a link to sensitivity tables from the 2018 PEA: https://libertygold.ca/images/news/2019/october/Goldstrike_NR10152019SensitivityTable.pdf

GOLDSTRIKE DRILL HIGHLIGHTS INCLUDE^1:

^{1A number of mineralized intervals were omitted from this table for brevity. Please refer to the full table at the link below for complete results.} 

For maps of drill collars and traces for the current release, please click here:  https://libertygold.ca/images/news/2019/october/Goldstrike_NR10152019Map.pdf

For a complete table of drill results from all Liberty Gold drill holes at Goldstrike, please click here:  https://libertygold.ca/images/news/2019/october/GS_Intercepts10152019.pdf

Key Points:

• Drilling in all three areas identified new gold mineralization, with further drilling warranted.
• At the Dip Slope Zone, gold mineralization was encountered in holes PGS713 and PGS714, 300 m to the west of any previous drilling in the Dip Slope area.
• Also in the Dip Slope Zone, hole PGS733 tested a northwest trending, mineralized structure. Additional drilling is warranted along a 150 m-long gap along the structure
• Hole PGS736 tested a large gap in the geologic and resource model in the middle of the Main Zone.
• Drilling in each of these areas demonstrates that mineralization in the resource model is open to extension.

KINSLEY DRILLING

A 1600 metre (“m”) RC drill program will commence at Kinsley on October 20. Drill holes will target the eastward extension of the Western Flank high-grade sulphide resource that includes 284,000 Indicated ounces at an average grade of 6.04 g/t Au . A new target in the central portion of the Kinsley Gold trend will also be tested.

About Goldstrike

Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend.  Like Kinsley Mountain and Newmont’s Long Canyon deposit, Goldstrike represents part of 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 Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au.

A virtual site tour and 3D model of Goldstrike is available on the homepage of the Company’s website: www.libertygold.ca.

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 g/t Au and average recovery of approximately 66%. 

A virtual site tour and 3D model of Black Pine property, including details about the geology and mineralization, is available on the homepage of the Company’s website, www.libertygold.ca. A Technical Report also available on the Company website: https://libertygold.ca/images/pdf/BlackPine_NI43-101_2018.pdf

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 80% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Goldstrike, expected gold and silver recoveries from the Goldstrike mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Goldstrike and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 27, 2019 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

^{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

^{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 unless required by law.}

[2] See press release dated July 10, 2018
[3] See press release dated December 17, 2015

Liberty Gold Continues to Expand Thick Zone of High-Grade Carlin-Style Gold Mineralization at the Black Pine Project, Idaho, USA, With 3.40 g/t Oxide Gold over 62.5 Metres Including 6.21 g/t Gold over 21.3 Metres

Drilling Links the Discovery 2 and 3 Zones

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce additional drill results from its Carlin-style Black Pine Property in southern Idaho, USA.  Reverse Circulation (“RC”) drilling at Black Pine continues to return thick, high-grade intervals of Carlin-style oxide gold mineralization. New results from the Discovery 2/3 Zones (now Discovery 2 Zone) expand the footprint of mineralization, linking them together with a combined width of 400 metres (“m”), and a strike length of approximately 300 m.  The zone remains open for extension in all directions.

DISCOVERY 2 ZONE DRILL HIGHLIGHTS INCLUDE¹:

¹A number of mineralized intervals were omitted from this table for brevity. Please refer to the full table at the link below for complete results. Grams per Tonne Gold abbreviated as “g/t Au”.

For a cross section of drill collars and traces for the current release, please click here:  https://libertygold.ca/images/news/2019/november/BlackPine_NR11052019CS.pdf

For a map of drill collars and traces for the current release, please click here:  https://libertygold.ca/images/news/2019/november/BlackPine_NR11052019Map.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/2019/november/BP_Intercepts11052019.pdf

The Discovery 2 Zone continues to deliver high grades along a north-striking feeder fault corridor, as well as long intervals of gold mineralization in the footwall area to the east.  Liberty Gold believes that the area tested to date represents a small portion of the total strike length of the Discovery 2 Zone, with drilling currently focused on extending the strike length through the 300 m-long gap between the Discovery 2 zone and mineralization associated with the historical B Pit to the south.  The Discovery 1 and Discovery 2 Zones are now projected to converge near the northern margin of and below the historic B Pit, with an average historical mined grade of 1.38 g/t Au.

Key Points      

• The Discovery 2 Zone remains open in all directions, and continues to deliver thick, high-grade oxide gold intercepts in drill holes.
• Most highlight intercepts to date are oxide. Weighted average cyanide solubility for the primary high-grade interval in LBP064 is 97%, for LBP066, 90%, and for LBP068, between 72 and 85%.     
• The highlight intervals in LBP064, LBP066 and LBP069 link together:
  • LBP062², which returned 3.14 g/t Au over 44.2 m;
  • LBP051³, which returned 2.51 g/t Au over 41.1 m; and
  • LBP052³, which returned 0.61 g/t Au over 21.3 m and 0.77 g/t Au over 39.6 m; all on the same section and within the target stratigraphic interval.
• The new drilling links gold mineralization in the Discovery 2 zone with mineralization in the Discovery 3 zone over a distance of 400 m.
• Approximately 30% of the high-grade target stratigraphic horizon in the initial 1 square kilometer (“km²”) Focus Area (the “Focus Area”) has been drill tested to date. The target horizon extends throughout most areas of the 12 km² gold system and awaits testing by Liberty Gold.
• Eight of the top 10 unmined intercepts on the Black Pine Property have been drilled by Liberty Gold including the top six. 

²See press release dated October 15, 2019
³See press release dated October 1, 2019

“Black Pine continues to deliver intercepts of high-grade oxide gold mineralization over impressive widths.  These intercepts are all the more impressive in the context of their setting, lying below thick intervals of moderate grade mineralization, and the likelihood, based on past mining, that the gold can be recovered using low-cost, open pit mining and heap leaching. The results to date, combined with modeling of historic results, continue to support our premise that Black Pine hosts a multi-million ounce gold system,” stated Cal Everett, President and CEO of Liberty Gold.

Click here for a list of the top 500 unmined gold intercepts at Black Pine: https://libertygold.ca/images/news/2019/november/BlackPine_NR11052019Unmined.pdf

Core drilling at Black Pine commenced on September 24, 2019.  The large-diameter core program is obtaining material to fulfill several goals, including: Phase 1 metallurgical column testing; specific gravity measurements; gold deportment studies; validation of RC drilling data; and collection of structural, stratigraphic and alteration information.  Assays are pending from four holes drilled to date.

RC drilling continues with two RC drill rigs in a 1km² Focus Area between the historic A Pit, B Pit and A Basin target.

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 g/t Au and average recovery of approximately 65%. 

A virtual site tour and 3D model of Black Pine property, including details about the geology and mineralization, is available on the homepage of the Company’s website, www.libertygold.ca.

A Technical Report is also available on the Company website: https://libertygold.ca/images/pdf/BlackPine_NI43-101_2018.pdf

^{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. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60 to 80% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy.  QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.}

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 27, 2019 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

^{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

^{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 unless required by law.}

LIBERTY GOLD REPORTS Q3 2019 FINANCIAL AND OPERATING RESULTS

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company"), is pleased to announce its financial and operating results for the nine months ended September 30, 2019. 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 region that is home to large-scale oxide gold systems ideal for open-pit 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:

• We completed a bought deal financing, including the exercise of the overallotment in full, of $12.03 million (Canadian $15.8 million) on September 10, 2019.

At Black Pine we:

• Expanded on the two new discoveries announced earlier in the year: the first (“Discovery 1”) in a 500 metre (“m”)-wide gap between an area of known gold mineralization and a historic pit with flanking gold mineralization, and the second (“Discovery 2”) located 240 m to the east, in an area with no nearby drill holes at the target depth. At present, the Discovery 1 Zone measures 1 km long and 150 m wide, and the Discovery 2 Zone measures 300 m long and 400 m wide and is open in all directions. Highlight intercepts are oxide with excellent cyanide solubility.
• Drilled eight out of ten of the strongest (as defined by grade multiplied by thickness) unmined gold intercepts on the property, including over 1400 unmined intercepts in historical drill holes.
• Identified long intervals of high-grade oxide mineralization.
• Commenced a 1400 m large diameter core drilling program to obtain material for metallurgical column testing, specific gravity measurements, validation of Reverse Circulation (“RC”) drill results and mineralogical, structural and stratigraphic studies.
• Announced drill results from our ongoing 20,000 m RC drill program including¹ at Discovery 2:
  • 4.39 grams per tonne gold (“g/t Au”) over 53.3 m including 5.76 g/t Au over 38.1 m and including 12.05 g/t Au over 12.2 m in LBP043
  • 3.40 g/t Au over 62.5 m including 5.01 g/t Au over 33.5 m and including 6.21 g/t Au over 21.3 m in LBP064
  • 3.14 g/t Au over 44.2 m including 6.53 g/t Au over 16.8 m and including 11.3 g/t Au over 7.6 m in LBP062
  • 2.51 g/t Au over 41.1 m including 6.69 g/t Au over 7.6m and including 9.11 g/t Au over 4.6 m in LBP051
  • 2.56 g/t Au over 41.1 m including 4.47 g/t Au over 19.8 m and including 8.76 g/t Au over 4.6 m in LBP029
  • 1.15 g/t Au over 70.1 m including 2.92 g/t Au over 15.2 m and including 14.7 g/t Au over 1.5 m in LBP066
  • 0.94 g/t Au over 100.6 m in LBP054

At Goldstrike we:

• Announced drill results from the 2019 drill program focused on extensions to gold mineralization in three portions of the resource area, the Western, Main and Dip Slope Zones for the purpose of further resource delineation. Highlights include²:
  • 1.40 g/t Au over 19.8 m including 2.79 g/t Au over 9.1 m in PGS713
  • 1.15 g/t Au over 27.4 m including 3.39g/t Au over 6.1 m in PGS733
• Demonstrated that mineralization in the resource model is open to extension.

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, 2019 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:

 ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.  

^{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, 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; 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 27, 2019 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.}

^{The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

^{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 unless required by law.}

¹ See press releases dated July 31, 2019 September 12, 2019, October 1, 2019 , October 15, 2019 and November 5, 2019

Press releases are available at www.libertygold.ca or under our company profile at SEDAR at www.sedar.com.

²See press releases dated October 15, 2019,

Liberty Gold Announces Receipt of US$4,000,000 and Amended Definitive Agreement to Sell the Halilağa Porphyry Copper Gold Deposit in Türkiye

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce it has received a US$4,000,000 nonrefundable pre -payment from Cengiz Holdings A.Ș. (“Cengiz”) for the sale of its 40% interest in the Halilağa copper gold porphyry deposit (“Halilağa” or “the Project”), located in Biga Province, northwest Türkiye.

The terms of the original share purchase agreement (the “Agreement”) for the sale of its interest in Halilağa (see press release of July 12, 2019[1]) were amended (the “Amended Agreement”) as follows:

Terms of the Amended Agreement

• US$4,000,000 nonrefundable payment (received)
• US$6,000,000 on closing of the amended sale agreement, August 15th, 2020
• US$6,000,000 on the first anniversary of the closing date, August 15th, 2021
• US$6,000,000 on the second anniversary of the closing date, August 15th, 2022

The first and second anniversary payments will be bank guaranteed.

Cengiz will acquire Liberty Gold’s 40% interest in the Project by purchasing the Company’s shares representing 40% of a Turkish holding corporation (the “Transaction”). As a result of the Transaction, Liberty Gold will receive a total of US$22 million, unchanged in aggregate from the original Agreement.

Closing of the Transaction is subject to customary conditions including the approval of the Turkish Ministry of Energy and Natural Resources.

Proceeds from this transaction will be used to fast-track the drill program at Liberty Gold’s Black Pine high grade Carlin–style oxide gold property in southern Idaho.  The 2020 drill program will be expanded to include an estimated 45,000 metres of reverse circulation drilling and resource estimation, core drilling and metallurgical column testing. The program will expand on exceptional results thus far in 2019, augmenting historical results showing shallow oxide gold mineralization present over a 7 square kilometer area.

ABOUT LIBERTY GOLD

Liberty Gold will continue to own 60% of the TV Tower project in the Biga Province that contains a large number of exploration targets including the Kucukdag high-sulphidation gold-silver-copper deposit, several drill-tested high sulphidation oxide gold discoveries, low-sulphidation epithermal gold-silver veins and three drill confirmed porphyry copper-gold discoveries.

Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

_{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, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, the closing of the Transaction, the receipt of the staged payments, the approval of the Transaction by the Turkish Ministry of Energy and Natural Resources, 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law.}

[1] https://www.libertygold.ca/news/2019-news/343-liberty-gold-announces-signing-of-definitive-agreement-to-sell-the-halila%C4%9Fa-porphyry-copper-gold-deposit-in-türkiye.html

Liberty Gold Announces Signing of Definitive Agreement to Sell its share of the Kinsley Mountain Gold Deposit, Nevada

VANCOUVER,B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce it has signed a definitive purchase option agreement (the “Agreement”) for the sale of its 79.1% interest in the Kinsley Mountain Gold project (“Kinsley”), located in northwest Nevada, to Barrian Mining Corp. (BARI-TSX.V) (“Barrian”).

Pursuant to the terms of the Agreement, on closing, Liberty Gold will receive an aggregate of over US$7,500,000 in value for Kinsley (the “Transaction”).

Terms of the Agreement:

Closing of the Transaction is subject to completion of a financing by Barrian and other customary conditions including approval by the TSX Venture Exchange.

The US$7,500,000 purchase price will be paid in 3 stages over a 2 year period as follows:

• US$2,500,000 on the closing date plus 2,000,000 Barrian common shares on a post-consolidation and pre-acquisition financing basis (subject to a contractual 12 month hold period).
• US$2,500,000 on or before the 1^st anniversary of the closing date plus 1,000,000 Barrian common shares (subject to a contractual 12 month hold period).
• US$2,500,000 in common shares of Barrian on or before the 2^nd anniversary of the closing date (subject to a 4 month statutory hold period).
• A 1% Net Smelter Return Royalty (“NSR”) on the 79.1% interest in Kinsley: where Barrian, at its sole discretion has the right to re-purchase up to one-half percent (0.5%) of the NSR royalty upon payment of US$500,000.

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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.  Our flagship projects are Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

^{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. 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, the closing of the Transaction, the receipt of the staged payments, the successful financing by Barrian, the approval of the Transaction by the TSX-V, 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law.}

Liberty Gold Sells Net Profits Interest on the Regent Gold Project, Nevada, USA to Ely Gold Royalties Inc.

Griffon Project Sold to Fremont Gold Ltd.

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that it has signed a binding term sheet for the sale and assignment of a Net Profits Interest (“NPI”) in the Regent Hill property, Nevada, to Ely Gold Royalties Inc. (ELY-TSXV) (“Ely Gold”). 

Liberty Gold has also entered into an agreement to sell the Griffon project, Nevada, to Fremont Gold Ltd. (FRE-TSXV) (“Fremont”) through a purchase-option agreement (the “Option Agreement”).

Terms of the Regent Hill property NPI sale agreement with Ely Gold include:

• US$800,000;
• 2,000,000 Ely Gold two-year purchase warrants to be priced at closing.

Terms of the Griffon Property Option Agreement include:

• US$25,000 upon executing the Option Agreement (the “Execution Date”); (received).
• US$25,000 and 2,500,000 Fremont common shares to be issued to Liberty Gold following TSX Venture Exchange approval of the Option Agreement (the “Effective Date”);
• US$50,000 and a number of Fremont common shares that will bring Liberty Gold’s total ownership of Fremont’s issued and outstanding common shares to 9.9% on the first anniversary of the Execution Date;
• US$50,000 on the second anniversary of the Execution Date;
• US$75,000 on the third anniversary of the Execution Date;
• US$100,000 on the fourth anniversary of the Execution Date.
• 1% Net Smelter Return Royalty (“NSR”) which may be repurchased for US$1,000,000.

With the sale of Liberty Gold’s 40% interest in the Halilağa copper gold Project in Turkey (see press release of November 18, 2019); the pending sale of the Kinsley Mountain project in Nevada (see press release of December 2, 2019); and the monetization of the Regent project NPI and the Griffon project, the Company can focus its exploration efforts on its core projects, the Black Pine oxide gold discovery in Idaho and the Goldstrike oxide gold deposit in Utah.  The Company’s intent is to continue to lower non-core project obligations and maximize exploration expenditures with no equity dilution to shareholders.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring 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 large oxide gold deposits that can be mined profitably in open-pit scenarios.  Our flagship projects are Black Pine and Goldstrike, both past producing open-pit mines, where previous operators only scratched the surface of large-scale sediment hosted gold systems.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

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. 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, the closing of the Option Agreement and the Regent Hill NPI Sale Agreement with Ely Gold, the receipt of staged payments, the approval of the Option Agreement by the TSX-V, 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, accuracy of any mineral resources, 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; 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 27, 2019 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 unless required by law.