1.70 g/t Au over 24.4 m within 1.13 g/t Au over 45.7 m
2.49 g/t Au over 10.7 m within 1.15 g/t Au over 35.1 m
1.84 g/t Au over 19.8 m within 1.06 g/t Au over 50.3 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company") is pleased to announce drill results from the Western Zone and Dip Slope Zone at the 100% controlled Goldstrike Gold Project in southwestern Utah. Throughout the Historic Mine Trend, the aggressive exploration program is focused on building continuity between the target areas and linking them together over large areas into continuous zones of mineralization.

The current drill results from the Western Zone are from holes drilled along the north margin of the Moosehead-Caribou Pit, and from the northern margin of the Beavertail Pit and mineralized zone, located 300 metres to the south of the Moosehead Pit.

Highlights from the Moosehead Pit area, Western Zone, include:

• 0.59 grams per tonne gold (g/t Au) over 50.3 metres (m) in PGS413
• 1.70 g/t Au over 24.4 m within 1.13 g/t Au over 45.7 m in PGS414
• 0.48 g/t Au over 35.1 m in PGS416
• 3.09 g/t Au over 4.6 m within 1.14 g/t Au over 30.5 m in PGS418
• 2.06 g/t Au over 4.6 m within 0.80 g/t Au over 47.2 m in PGS422

KEY POINTS

• The highlight holes complete drilling on approximately 50 m-spaced fences along the north margin of the Moosehead Pit, over an east-west strike length of approximately 300 metres.
• The holes extend unmined surface and near-surface mineralization to depth in a north-northwest direction.
• The zone appears to extend further to the west, and awaits further drilling.
• The drilling will add significantly to the mineralization endowment in the Western Zone.     

Highlights from the Beavertail Pit area, Western Zone, include:

• 2.35 g/t Au over 4.6 m within 0.72 g/t Au over 22.9 m and 0.69 g/t Au over 7.6 m and 0.55 g/t Au over 21.3 m in PGS433
• 0.76 g/t Au over 38.1 m and 0.50 g/t over 4.6 m in PGS436

KEY POINTS

• The highlight holes represent the first test of the Beavertail Pit area, located 300 m south of the Moosehead Pit.
• The highlight holes represent approximately 50 m step-outs to the northeast of existing mineralization.
• Mineralization starts at surface in this area, which includes a large number of unmined drill holes with gold mineralization at shallow depth.
• Additional drilling is planned for this area, and surface mapping and sampling will address the gap between Beavertail and Moosehead, with further drilling to be carried out if warranted.

Highlights from the Dip Slope Zone include:

• 2.49 g/t Au over 10.7 m within 1.15 g/t over 35.1 m in PGS415
• 1.84 g/t over 19.8 m within 1.06 g/t Au over 50.3 m in PGS421
• 2.23 g/t Au over 6.1 m within 1.05 g/t Au over 21.3 m in PGS440
• 1.47 g/t Au over 18.3 m and 1.06 g/t Au over 3.0 m in PGS445
• 1.63 g/t Au over 9.1 m within 0.96 g/t Au over 36.6 m in PGS450

KEY POINTS

• The Dip Slope is a very large, relatively sparsely drilled area that spans over 2 square kilometres.
• Current drill results include holes from the eastern Dip Slope Zone, which continues to yield excellent results in the area to the north of the Hassayampa historic pit.
• A newly-accessed area of the central Dip Slope Zone, characterized by the presence of extensive jasperoid mineralization with surface grab samples up to 11 g/t Au, is also represented. Mineralization in this area starts at or near surface.  Additional drilling is planned for this area.

For a complete table of drill results from the current holes, please click here: http://libertygold.ca/images/sites/default/files/GS_Intercepts01032018.pdf

For a complete table of results for all drilling by Liberty Gold at Goldstrike from 2015 to December 2017, please click here: http://libertygold.ca/images/sites/default/files/GS_Intercepts2015to01032018.pdf

For a map of drill collars and traces for the current release, please click here: http://libertygold.ca/images/sites/default/files/GoldStrike_NR012018.pdf

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.

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.  Metallic screen techniques may be employed where the presence of coarse free gold is suspected. Approximately 1000 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. 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.

Goldstrike is an early-stage exploration project and does not contain any mineral resource estimates as defined by NI 43-101.  The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource. Further information on Goldstrike is available in the technical report entitled "Technical Report on the Goldstrike Project, Washington County, Utah, U.S.A.", effective April 1, 2016 and dated October 7, 2016, prepared by Michael M. Gustin, C.P.G. and Moira Smith, Ph.D., P.Geo. found at the top of this page or under Liberty Gold's issuer profile in SEDAR (www.sedar.com).

ABOUT LIBERTY GOLD
Liberty Gold is led by a proven technical and capital markets team that continues to discover and define high-quality assets. Our flagship property is the Goldstrike Oxide Gold Project in Utah.  Liberty also has a pipeline of projects, including Black Pine in Idaho and Kinsley Mountain in Nevada, providing a solid platform for future growth.  Over the past 5 years, there have been 8 new open-pit, heap leach gold mines built around the world and the management team and/or directors of Liberty Gold are responsible for discovering, developing and/or building two of them.  Long Canyon in Nevada (Fronteer Gold) and Karma in Burkina Faso (True Gold) both reached commercial production in 2016.

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 licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, the availability of drill rigs, the release of an initial resource report, the completion 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 28, 2017 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.

Initial Drill Test Demonstrates Exceptional Exploration Potential for Oxide Gold Mineralization Beneath Shallow Historical Drilling

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 77.7 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that it has completed an initial round of drilling at the Black Pine Project, one of its three principle gold projects located in the prolific Great Basin of the United States. 

Black Pine, located in southeastern Idaho, is a past-producing heap leach oxide gold mine that contains a large, shallow, district-scale, Carlin-style gold system, similar in nature and scale to Liberty Gold’s Goldstrike Project.

In late 2017, twelve reverse circulation (RC) holes were drilled from five locations within a large, 12 square kilometre target area. The drilling has thus far succeeded in validating historical results  adjacent to a historical pit and more importantly, demonstrated exceptional exploration upside beneath the limit of shallow historical drilling.

Drill results highlights from LBP002:

• 0.58 grams per tonne gold (g/t Au) over 39.6 metres (m), including 1.54 g/t Au over 4.6 m starting near surface
• 1.10 g/t Au over 15.2 m including 1.55 g/t Au over 7.6 m
• 1.49 g/t Au over 77.7 m including 5.64 g/t Au over 6.1m and 3.23 g/t Au over 15.2 m.

Drill result highlights from LBP003 (testing shallow mineralization):

• 0.53 g/t Au over 27.4 m and 0.61 g/t Au over 15.2 m.

KEY POINTS

• LBP002 was drilled next to a historical pit that produced 11,200,000 tonnes of ore averaging 0.6 g/t Au for a total of 198,043 ounces of gold.
• LBP002 validated a shallow historical hole and extended to depth the oxide gold mineralization to twice the average historical drill hole depth on the property, at twice the average historical mined gold grade.
• This new intersection expands the potential for additional oxide gold mineralization at depth, confirming the Company thesis that historical drilling left vast areas of mineralization untested.
• Importantly, this new interval averaged 91.5% cyanide soluble, suggesting amenability to low-cost heap leaching.

Drill results are pending for 4 other targets.

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/BP_Intercepts01052018.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/BlackPine_NR012018.pdf

Phase 2 drilling is planned to commence mid-June in order to investigate the scope of multiple targets. An updated Plan of Operations is pending that will open up access to the entire 12 square kilometre area of anomalous surface geochemistry and historic gold in drill holes for comprehensive drill testing.  

HISTORICAL DATA COMPILATION RESULTS

• There have been 1,866 historical holes drilled, with an average depth of 93 metres. Most holes were vertical
• 19% of the historical holes bottomed in oxide gold mineralization
• 42% of the historical holes have unmined gold intercepts.

The presence of a large number of holes that bottomed in mineralization, as well as a number of areas of mineralization in the historic database that are open to depth, suggests that deeper angle drilling is appropriate in the future.

About Black Pine
The Black Pine property is part of the Great Basin and located in southeastern Idaho, and covers 31.7 square kilometres. 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 Au, with a reported recovery of 65%. 

Liberty Gold has data from 1,866 shallow holes, totaling 191,481 metres and has identified three broad target types for drill testing, including: 1) down-dip extensions of gold mineralization from mined pits under shallow cover; 2) unmined bodies of mineralization identified by previous operators; 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: http://libertygold.ca/images/Presentations/2018/Jan/Black_Pine_-_January_18_2018_Final.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 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.

Black Pine is an early-stage exploration project and does not contain any mineral resource estimates as defined by NI 43-101.  The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource. 

Some of the data presented herein, includes legacy data developed by previous operators of the Black Pine property prior to the introduction of NI43-101. Historic drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are unknown. Production data sourced from Pegasus internal yearly statements on production and remaining Reserves and Mineralized material. Liberty Gold is providing this legacy data for informational purposes only, and gives no assurance as to its reliability and relevance to the Company’s current results and proposed exploration program at Black Pine.  Liberty Gold has not completed any quality assurance program or applied quality control measures to the legacy data.  Accordingly, the legacy data should not be relied upon. 

ABOUT LIBERTY GOLD
Liberty Gold is led by a proven technical and capital markets team that continues to discover and define high-quality assets. Our flagship property is the Goldstrike Oxide Gold Project in Utah.  Liberty also has a pipeline of projects, including Black Pine in Idaho and Kinsley Mountain in Nevada, providing a solid platform for future growth.  Over the past 5 years, there have been 8 new open-pit, heap leach gold mines built around the world and the management team and/or directors of Liberty Gold are responsible for discovering, developing and/or building two of them.  Long Canyon in Nevada (Fronteer Gold) and Karma in Burkina Faso (True Gold) both reached commercial production in 2016.

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 approval for the pending Plan of Operations, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, the availability of drill rigs, the release of an initial resource report, the completion 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 28, 2017 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 it has entered into an agreement with a syndicate of underwriters (the “Underwriters”) pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 24,938,426 units of the Company (the “Units”) at a price of $0.42 per Unit (the “Private Placement”).  The gross proceeds to the Company will be $10,474,139. Under the Private Placement, RCF Opportunities Fund L.P. (“RCF”) has agreed to purchase, subject to certain conditions, 14,784,523 Units. Following closing of the Private Placement, RCF will own 8.4% of the Company’s issued and outstanding common shares and 12.1% on a partially-diluted basis.

Each Unit will consist of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”) with each Warrant exercisable by the holder into one common share of the Company at a price of $0.65 per share for a period of 36 months from the closing date.

The proceeds raised under the Private Placement will be used for the Company’s continued exploration and drilling programs, to finalize a resource estimate for the Goldstrike Project and for general corporate purposes.

The Private Placement is expected to close on or about January 26, 2018 and is subject to the Company receiving all necessary regulatory approvals, including approval of the Toronto Stock Exchange. Securities issued under the Private Placement will be subject to a four month hold period which will expire four months plus one day from the closing date of the Private Placement. 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities to, or for the account or benefit of, persons in the United States or “U.S. persons” (“U.S. Persons”), as such term is defined in Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”). The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. 

ABOUT LIBERTY GOLD
Liberty Gold is led by a proven technical and capital markets team that continues to discover and define high-quality assets. Our flagship property is the Goldstrike Oxide Gold Project in Utah. Liberty also has a pipeline of projects, including Black Pine in Idaho and Kinsley Mountain in Nevada, providing a solid platform for future growth. Over the past 5 years, there have been 8 new open-pit, heap leach gold mines built around the world and the management team and/or directors of Liberty Gold are responsible for discovering, developing and/or building two of them. Long Canyon in Nevada (Fronteer Gold) and Karma in Burkina Faso (True Gold) both reached commercial production in 2016. 

ABOUT RCF
Resource Capital Funds is a group of commonly managed private equity funds, established in 1998 with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions. Since inception, RCF has supported 166 mining companies, with projects located in 51 countries and across 29 commodities. Further information about RCF can be found on its website (www.resourcecapitalfunds.com).

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 about the gross proceeds of the Private Placement, the purchase of Units by RCF Opportunities Fund L.P., the expected closing date thereof and the intended use of proceeds. 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 approval for the pending Plan of Operations, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, the availability of drill rigs, the release of an initial resource report, the completion 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 28, 2017 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. JANUARY 26, 2018– Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce that it has completed its previously announced bought deal private placement (the “Private Placement”) of units (the “Units”).

Pursuant to the Private Placement the Company issued 24,938,426 Units at a price of $0.42 per Unit for gross proceeds to the Company of $10,474,138.92.  The Units consist of one common share in the capital of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”) with each Warrant exercisable by the holder into one Common Share at a price of $0.65 per share for a period of 36 months from the closing date.

The Private Placement was brokered by a syndicate of underwriters (the “Underwriters”).

The Company intends to use the net proceeds of the Private Placement for the Company’s continued exploration and drilling programs, to finalize a resource estimate for the Goldstrike Project and for general corporate purposes.

Pursuant to the Private Placement, RCF Opportunities Fund L.P. (“RCF”) purchased 14,784,523 Units, representing approximately 8.4% of the issued and outstanding Common Shares on an undiluted basis. Assuming the full exercise of RCF’s 7,392,261 Warrants, issued pursuant to the Private Placement, RCF would own 22,176,784 Common Shares, representing approximately 12.1% of the issued and outstanding Common Shares on a partially-diluted basis.

An insider of the Company purchased 200,000 Units pursuant to the Private Placement and accordingly the Private Placement 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(1)(a) of MI 61-101 as neither the fair market value of any securities issued to nor the consideration paid by such person exceeds 25.0% of the Company’s market capitalization. 

All of the securities issued pursuant to the Private Placement are subject to a four month and one day hold period expiring on May 27, 2018.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities to, or for the account or benefit of, persons in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. 

ABOUT LIBERTY GOLD

Liberty Gold is led by a proven technical and capital markets team that continues to discover and define high-quality Carlin-style assets. Our flagship property is the Goldstrike Oxide Gold Project in Utah. Liberty also has a pipeline of projects, including Black Pine in Idaho and Kinsley Mountain in Nevada, providing a solid platform for future growth.

ABOUT RCF

Resource Capital Funds is a group of commonly managed private equity funds, established in 1998 with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions. Since inception, RCF has supported 166 mining companies, with projects located in 51 countries and across 29 commodities. Further information about RCF can be found on its website (www.resourcecapitalfunds.com).

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 news 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 about the intended use of the proceeds of the Private Placement. 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, accuracy of any mineral resources, the availability of drill rigs, the release of an initial resource report, the completion 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 28, 2017 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.

2.39 g/t Au over 7.6 m within 0.91 g/t Au over 82.3 m
2.25 g/t Au over 13.7 m within 1.46 g/t Au over 24.4 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company") is pleased to announce final 2017 drill results from its 100% controlled Goldstrike Gold Project in southwestern Utah. Throughout the Historic Mine Trend, the aggressive exploration program is focused on building continuity within and between the target areas and linking them together over large areas into continuous zones of mineralization.

Liberty Gold has also stepped off of the mine trend to do an initial reconnaissance drill test of two new areas, located 1.5 km west and 2.3 km southwest respectively of the West Zone.  Both areas confirm new gold discoveries and warrant further drilling.

In 2017 Liberty Gold drilled 45,811 metres in 285 RC holes at Goldstrike, completed the initial phase of metallurgical testing, obtained a Plan of Operations permitting drill access to virtually all of the shallow gold targets on the property, initiated preliminary work for a PEA study, advanced the project to a pending resource estimate and confirmed and expanded mineralization in the Mineral Mountain area 6 km to the northwest of the main target area.

The Company did not raise capital in 2017 and completed its planned exploration program for $10.5 million Canadian dollars (“C$”).   Liberty has recently closed a bought deal financing and has approximately C$11 million in the treasury.  The proposed 2018 work program will include the first resource estimate for Goldstrike, advancement of the Project to a PEA decision, continued resource expansion drilling and resource update, phase 2 metallurgical testing, expanded permitting and continued liaison with potential stakeholders.

Highlights from the Dip Slope Zone include:

• 0.53 g/t Au over 30.5 m and 0.47 g/t Au over 9.1 m in PGS454
• 0.50 g/t Au over 36.6 m in PGS456
• 0.50 g/t Au over 21.3 m in PGS457
• 0.56 g/t Au over 24.4 m in PGS459
• 2.39 g/t Au over 7.6 m within 0.91 g/t Au over 82.3 m in PGS461
• 1.65 g/t Au over 10.7 m in PGS463
• 0.84 g/t Au over 3.0 m and 0.53 g/t over 15.2 m in PGS464

KEY POINTS

• Current drill results include holes from the eastern Dip Slope Zone, which continues to yield excellent results to the north.

• A newly-accessed area of the central Dip Slope Zone, characterized by the presence of extensive jasperoid mineralization with surface grab samples up to 11 g/t gold, is also represented. Mineralization in this area starts at or near surface.  Additional drilling is planned, commencing on March 1^st.    
• Over 2 square kilometers of the Dip Slope remain untested.

NEW DISCOVERIES:

Highlights include:

• 2.25 g/t Au over 13.7 m within 1.46 g/t Au over 24.4 m in PGS 473 (Fence Line).
• 0.78 g/t Au over 12.2 m in PGS 466 (Jack’s Camp)

KEY POINTS

• Two new discoveries have been drill confirmed 1.5 km northwest and 1.5 km south-southwest of the Beavertail Pit, the most westerly historic pit on the Goldstrike Historic Mine Trend.
• The intercept in PGS473 is the furthest west drill test for Liberty Gold to date along the same structural system that hosts mineralization in the Historic Mine Trend. This area, called Fence Line, contains surface soil samples grading up to 4 ppm gold, as well as a few scattered very shallow drill holes testing surface jasperoids.  Hole PGS473 is the first meaningful test of the potential of this area.
• The intercept in PGS466 (Jack’s Camp) is located in the southwestern part of the Property in an area tested with a few historic holes in the 1980s, for which no data is available. A zone of faulting and anomalous gold in surface samples extends approximately 1.5 km to the north and south of Jack’s Camp.
• Follow-up drilling is planned for both areas in 2018.
• Road access has been established to several other targets, with drilling planned for early in the 2018 season.

For a complete table of drill results from the current holes, please click here: http://libertygold.ca/images/sites/default/files/GS_Intercepts02062018.pdf

For a complete table of results for all drilling by Liberty Gold at Goldstrike from 2015 to December 2017, please click here: http://libertygold.ca/images/sites/default/files/GS_Intercepts2015to02062018.pdf

For a map of drill collars and traces for the current release, please click here: http://libertygold.ca/images/sites/default/files/GoldStrike_NR02062018.pdf

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.

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.  Metallic screen techniques may be employed where the presence of coarse free gold is suspected. Approximately 1000 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. 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.

Goldstrike is an early-stage exploration project and does not contain any mineral resource estimates as defined by NI 43-101.  The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource. Further information on Goldstrike is available in the technical report entitled "Technical Report on the Goldstrike Project, Washington County, Utah, U.S.A.", effective April 1, 2016 and dated October 7, 2016, prepared by Michael M. Gustin, C.P.G. and Moira Smith, Ph.D., P.Geo. under Liberty Gold's issuer profile in SEDAR (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 responsible for the majority of all gold produced in the USA 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 licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, the availability of drill rigs, the release of an initial resource report, the completion 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 28, 2017 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

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865,000 Indicated and 274,000 Inferred Gold Ounces

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company") is pleased to announce a maiden independent resource estimate at its Goldstrike Oxide Gold project in southwestern Utah. This resource estimate crystallizes 3 years of data compilation and drilling, and is a strong foundation on which to layer engineering, metallurgical studies, as well as ongoing expansion drilling.  It is a key asset in Liberty Gold’s portfolio of advanced-staged, Carlin-style gold projects in the Great Basin of the USA.

The Classified Mineral Resource estimate is quoted at a cut-off grade of 0.25 grams per tonne gold (g/t Au) and consists of:

• An indicated resource of 865,000 ounces of gold at an average grade of 0.54 g/t Au (49,553,000 tonnes); and
• An inferred resource of 274,000 ounces of gold at an average grade of 0.52 g/t Au (16,443,000 tonnes).

Commenting on these results, Cal Everett, President and CEO of Liberty Gold stated, “We are thrilled to release the first resource estimate for our flagship Goldstrike Property, the result of three years of hard work by our brilliant geological team.  We have exceeded our initial resource target expectation and will continue to drill and expand the Goldstrike Deposit as well as the new discoveries that surround it. This is an important first step in turning a 24 year-old, past-producing mine into a modern, multi-million ounce mining project.”

* See resource estimate notes below

KEY POINTS

• The resource captures drilling in the Historic Mine Trend, comprising the Main - Dip Slope, Peg Leg and Western zones, as well as the Mineral Mountain area.
• At higher cut-off grades, much of the resource is retained, potentially providing optionality in mine planning scenarios.
• A combination of historic and Liberty Gold drilling in 1,730 tightly-spaced drill holes, representing 153,000 metres of drilling, allows for the resource estimate to have a high degree of confidence, as illustrated by over 75% of the resource in the Indicated category.
• Most of the property remains unexplored or incompletely tested, including large areas extending from the Dip Slope zone that remain open in several directions for resource expansion.  
• Metallurgical results indicate rapid gold recoveries, relatively insensitive to crush size, which support a simple, low cost, run-of-mine heap leach process. Metallurgical test work by Liberty Gold shows that greater than 80% of the gold is recovered within the first 10 days of column leaching. 

Drilling will recommence on approximately March 1, 2018. Drilling will focus on expanding the resource, as well as 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%.

ESTIMATION METHODS

The resource estimate was completed by James N. Gray, P.Geo. of Advantage Geoservices Ltd., an Independent Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended.  Mr. Gray is the Qualified Person for this news release. Estimation methods are summarized below. Further details of the estimation methods and procedures will be available in a NI 43-101 technical report, to be co-authored and released by SRK Consulting (Canada) Inc. (“SRK”), which will be filed on SEDAR (www.sedar.com), within 45 days from the date of this release. 

Geologic controls for resource estimation are based on the geologic interpretation provided by Liberty Gold. Gold mineralization is primarily associated with a series of steeply dipping normal-oblique fault zones as well as with a low-angle unconformity surface (“Control Surfaces”). Gold grades have been estimated by inverse distance squared (ID²) interpolation into 10 m³ blocks. Sample selection during estimation is based on distance to the Control Surfaces and, in this way, reproduces the concentric or banded nature of fault zones and stratigraphic trends. Density has been applied at an average value of 2.52 t/m³ based on 159 measurements carried out by Liberty on drill core.

The Mineral Resource estimate is supported by 1,730 holes, totaling 153.0 km, that fall inside the limits of the block models. Samples were composited to the average sample length of 1.524 m (5 feet) prior to use in grade estimation; 102,264 composites are contained inside the modelled volume. Statistical evaluation of composite data by fault and stratigraphic zones led to the establishment of high-grade capping limits by control surface. In total, 349 composites were capped for use in resource estimation.

The Mineral Resource has been classified based on available drill data as well as by proximity to the interpreted geologic controls. Inferred Mineral Resource blocks are within 50 m of a sample or must be estimated by at least two holes. Indicated Mineral Resource blocks must lie within 40 m of sample data and must be estimated by at least three holes if within 40 m of a Control Surface or by at least two holes if within 30 m of a Control Surface.

Reasonable prospects of eventual economic extraction were established through the generation of Whittle optimized pit shells; all reported resource is contained within those shells. Optimization parameters were (in U.S. Dollars): $2.25/tonne (t) mining cost; $4.30/t processing and G&A cost (assuming Run of Mine Heap Leach operation); 50 degree pit slopes; and $1500/oz gold less $2.20 selling cost.  An economic internal cut-off grade was estimated at 0.13 g/t Au. Based on on-going metallurgical studies, recovery was variable depending on head grade: Au ≥ 0.4 g/t - rec% = 0.8133*Au^0.0677; Au < 0.4 g/t - rec% = 0.8491*Au^0.1301.The Whittle pit model was produced by Grant Carlson, P. Eng. of SRK, an Independent Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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.  Metallic screen techniques may be employed where the presence of coarse free gold is suspected. Approximately 1000 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. 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.

The technical information contained in this news release has been reviewed and approved by James N. Gray, P.Geo. of Advantage Geoservices Ltd., an Independent Qualified Person as defined by NI 43-101. Mr. Gray has verified the data disclosed, including sampling, analytical, and test data underlying the drill results and he consents to the inclusion in this release of said data in the form and context in which it appears.

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.

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 responsible for the majority of all gold produced in the USA 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 licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, the availability of drill rigs, the release of an initial resource report, the completion 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 28, 2017 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.

 Initiation of PEA Study, Phase 2 Metallurgy and Exploration Drilling

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company") is pleased to provide an update on planned 2018 exploration activities at the Goldstrike Property, Utah.  As detailed in a press release dated February 8, 2018, Liberty Gold reported a maiden mineral resource estimate for the Property, quoted at a cut-off grade of 0.25 grams per tonne gold (g/t Au) and consisting of: An indicated resource of 865,000 ounces of gold at an average grade of 0.54 g/t Au (49,553,000 tonnes); and an inferred resource of 274,000 ounces of gold at an average grade of 0.52 g/t Au (16,443,000 tonnes). 

The primary goal of exploration activities in 2018 is to turn the focus from finding a deposit to setting it on a path toward a substantially de-risked mining project, with an emphasis on engineering, metallurgy, permitting and defining additional resource ounces.  Activities include:

1. Commencement of a Preliminary Economic Assessment: Liberty Gold has retained SRK Consulting (Canada) Inc., Golder Associates, Kappes Cassiday and Associates, and GL Simmons Consulting LLC to complete a Preliminary Economic Assessment (PEA). Initial project scoping and field investigations have commenced, with a targeted release date of mid-year.
   
   
2. Additional Metallurgical Testing: Diamond core drilling commenced on March 14 pursuant to providing additional material for metallurgical testing in areas of the deposit not previously studied. The program will comprise approximately 2,000 m of drilling in 16 holes, to provide material for a program similar in scope to that which was completed in January 2017.  In the prior study, 20 column tests returned a weighted average gold recovery of 85.9%, with leaching largely complete in 10 days; see press release dated April 3, 2017. The results suggest that a simple, low-cost, run-of-mine heap leach scenario may be feasible at Goldstrike.
   
   
3. Permitting: Two amendments to the existing Plan of Operations were submitted to the BLM in order to gain access to a larger area of the property for drilling than was contemplated when the existing Plan of Operations was submitted 2 years ago.
   
   The first amendment, which has been approved, permits access to all previously disturbed areas on the Property, including historic heap leach pads, stockpiles, etc.  Liberty Gold believes that these areas, and bedrock directly beneath them, may contain additional gold.
   
   The second Plan of Operations amendment will allow for more comprehensive access to a much larger area surrounding the existing resource, and will allow for exploration and growth along the margins of the deposit.
   
   
4. Exploration Drilling: Reverse circulation (RC) drilling will commence in early April, and will continue through late November, with a target of 14,900 metres in Phase 1. Liberty Gold is planning both resource expansion drilling and exploratory drilling of new targets.
   
   
5. Technical Report: Liberty Gold is pleased to announce the filing on SEDAR of the Technical Report for the Goldstrike Oxide Deposit. The Technical Report, authored by SRK, is entitled “Independent Technical Report and Resource Estimate for the Goldstrike Project, Washington County, Utah, USA” effective February 8, 2018 and signed March 21, 2018. (the “Technical Report”). The Technical Report was authored by Independent Qualified Persons David Rowe, CPG, of SRK Consulting (Canada) Inc., James N. Gray, P.Geo, of Advantage Geoservices and Gary Simmons, MMSA of GL Simmons Consulting LLC, and is in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The report is available under the Company’s profile at sedar.com and will also be available on the Company’s website at www.libertygold.ca.

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 approved the information contained in this news release.

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, the commencement of a PEA, proposed additional metallurgical testing 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 completion 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 28, 2017 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

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company"), formerly Pilot Gold Inc., is pleased to announce its financial and operating results for the year ended December 31, 2017, and to provide an outlook on 2018.

A copy of our consolidated annual financial statements and related notes thereto (“Annual Financial Statements”) and Management’s Discussion and Analysis (“MD&A”) can be found on the Company’s website (www.libertygold.ca) or on SEDAR at www.sedar.com.

Our exploration activities and budget in 2018 will continue to focus on our three significant gold projects, all of which are past producing, open-pit, heap leach, Carlin-style gold mines in the Great Basin of the United States. Our Goldstrike project in Utah, Black Pine project in Idaho, and Kinsley Mountain project in Nevada, are cornerstone assets that are extremely well located and have the potential for significant resource growth.

All amounts are presented in United States dollars unless otherwise stated.

Company highlights through and subsequent to December 31, 2017:

Bought-Deal Financing¹
Completed a bought deal financing of C$10.47 million (the "2018 Bought-Deal") on January 26, 2018.

Goldstrike, Utah
On February 8, 2018, Liberty Gold announced the completion of a maiden independent resource estimate² at our 100% controlled Goldstrike Oxide Gold project, quoted at a cut-off grade of 0.25 grams per tonne gold (g/t Au) and consisting of:

• An indicated resource of 865,000 ounces of gold at an average grade of 0.54 g/t Au (49,553,000 tonnes);
• An inferred resource of 274,000 ounces of gold at an average grade of 0.52 g/t Au (16,443,000 tonnes).

The resource estimate captures drilling in the Historic Mine Trend, comprising the Main, Dip Slope, Peg Leg and Western zones, as well as the Mineral Mountain area. It includes a combination of historic and Liberty Gold drilling in 1,730 tightly-spaced drill holes, representing 153,000 metres of drilling, allowing for the resource estimate to have a high degree of confidence, as illustrated by over 75% of the resource in the Indicated category.

For the year ended December 31, 2017, expenditures including non-cash items at Goldstrike were $6.55 million (year ended December 31, 2016: $4.44 million), including: drilling and assaying ($4.09 million), salaries ($1.04 million), land claim and lease payments ($0.32 million), analyses and surveys ($0.49 million).

This resource estimate provides a strong foundation on which to layer engineering, metallurgical studies, as well as ongoing expansion drilling. Most of the property remains unexplored or incompletely tested, including large areas extending from the Dip Slope zone that remain open in several directions for resource expansion.  

An initial reconnaissance drill test of two new areas, located 1.5 km west and 2.3 km southwest respectively of the Western Zone was completed. Both areas confirm new gold discoveries and warrant further drilling:

• 2.25 g/t Au over 13.7 m within 1.46 g/t Au over 24.4 m in PGS 473 (Fence Line)
• 0.78 g/t Au over 12.2 m in PGS 466 (Jack’s Camp)

Phase 1 of the 2018 program with a budget of $4.12 million, will focus on expanding the resource, the completion of a Preliminary Economic Assessment, metallurgical testing and the testing of new targets property-wide. Drilling recommenced on March 14, 2018.

¹See press releases of January 8, 2018 and January 26, 2018.Canadian dollars are herein expressed as “C$”.
²The mineral resource estimate is effective February 8, 2018. See press release of February 8, 2018 and related technical report under the Company’s profile on SEDAR at www.sedar.com for details and disclosures relating to the independent resources estimate for the Goldstrike project.

Black Pine, Idaho
A validation drill program was completed in late 2017, for a total of 2,077 m in 13 holes that were drilled from five locations within a large, 12 square kilometer target area. Drilling results thus far have succeeded in validating historical results and, more importantly, demonstrated exceptional exploration upside beneath the limit of shallow historical drilling.

Highlights include:

• LBP002:
  • 0.58 g/t Au over 39.6 m including 1.54 g/t Au over 4.6 m starting near surface
  • 1.10 g/t Au over 15.2 m including 1.55 g/t Au over 7.6 m
  • 1.49 g/t Au over 77.7 m including 5.64 g/t Au over 6.1m and 3.23 g/t Au over 15.2 m
• LBP003:
  • 0.53 g/t Au over 27.4 m and 0.61 g/t Au over 15.2 m

For the year ended December 31, 2017, expenditures at Black Pine totalled $0.68 million.

Kinsley, Nevada
In 2017, the Company released results from 4 RC holes drilled at the Western Flank East Extension Target.  The program was part of an ongoing effort to test 8 high-conviction targets and expand sparsely-drilled targets.  The program intersected significant gold mineralization, including 5.30 g/t Au over 29.0 m in PK 221, and a follow-up program is planned for 2018.

For the year ended December 31, 2017, our share of expenditures at Kinsley totalled $0.44 million.

Moira Smith, Ph.D., P.Geo., Vice President Exploration and Geosciences, 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 scientific and technical information contained in this release is accurate.

Goldstrike, Kinsley and Black Pine are early stage exploration projects; the potential quantities and grades disclosed herein are conceptual in nature and, except for the mineral resource estimate at the Goldstrike and the deposit at Kinsley, there has been insufficient exploration to define a mineral resource for other targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource.

SELECTED FINANCIAL DATA
The following selected financial data is derived from our Annual Financial Statements for the years ended December 31, 2017, 2016 and 2015 as prepared in accordance with International Financial Reporting Standards. Please refer to the Annual Financial Statements and MD&A for details on the results presented below. These documents are available on the Company’s website at www.libertygold.ca or on SEDAR at www.sedar.com.

In order to enhance the relevance to the decision making needs of users, and to improve comparability with our peers, the Company has voluntarily changed its accounting policy with respect to exploration properties and deferred exploration expenditures. In prior periods, the Company’s policy was to defer exploration expenditures until such time as the properties are put into commercial production, sold or become impaired. Effective with the presentation of the March 31, 2017 Interim Financial Statements, on a retrospective basis, the Company elected to change this accounting policy to expense exploration expenditures as incurred. The Company will continue to defer acquisition expenditures on mineral properties until such time as the properties are put into commercial production, sold or become impaired.

The information in the tables below is presented in $000s except per share data:

¹Comparative periods restated for the change in accounting policy discussed above.

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, the commencement of a PEA, proposed additional metallurgical testing and beliefs regarding gold resources being contained within the 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 completion 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.

2.37 g/t Au over 10.7 m and 0.65 g/t Au over 15.2 m including 1.38 g/t over 4.6 m
0.96 g/t Au over 27.4 m and 1.28 g/t Au over 6.1 m and .54 g/t Au over 15.2 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce the remaining results from a recent reverse circulation (“RC”) drill program at the Black Pine Project, one of its three principal gold projects located in the prolific Great Basin of the United States. 

Black Pine, located in southeastern Idaho, is a past-producing oxide - heap leach gold mine that contains a large, shallow, district-scale, Carlin-style gold system, similar in nature to Liberty Gold’s Goldstrike Project.

The drill program was designed to test five currently permitted target areas, four for verification and possible expansion of historical drill hole results and one to test the eastern edge of the main gold target area where historical base metal mining occurred.

In late 2017, twelve reverse circulation (RC) holes were successfully drilled from five locations within a 12 square kilometre target area distinguished by the presence of historic pits, gold-in-soil anomalies and over 1750 historic drill holes.  The drilling succeeded in validating and expanding historical results adjacent to historic pits and in established target areas and demonstrated exceptional exploration upside beneath the limit of shallow historical drilling.  

Drill highlights include:

• 0.96 grams per tonne gold (g/t Au) over 24.4 metres (m) including 6.18 g/t Au over 1.5 m and 1.03 g/t Au over 9.1 m including 1.28 g/t Au over 6.1 m and 0.54 g/t Au over 15.2 m in LBP004
• 0.72 g/t Au over 9.1 m including 2.65 g/t Au over 1.5 m and 0.42 g/t Au over 9.1 m in LBP005
• 1.80 g/t Au over 7.6 m including 2.77 g/t Au over 4.6 m and 0.60 g/t Au over 18.3 m in LBP006
• 0.52 g/t Au over 33.5 m including 1.41 g/t Au over 3.0 m and 0.45 g/t Au over 9.1 m and 0.69 g/t Au over 24.4 m in LBP009
• 2.37 g/t Au over 10.7 m and 0.65 g/t Au over 15.2 m including 1.38 g/t Au over 4.6 m in LBP011.

Two drill holes were previously released (see press release dated January 5, 2018):

• 1.49 g/t Au over 77.7 m and 1.10 g/t Au over 15.2 m and .58 g/t Au over 39.6 m in LBP002
• 0.61 g/t Au over 15.2 m and 0.53 g/t Au over 27.4 m in LBP003

KEY POINTS

• LBP004, 005 and 006 were drilled in the J Anomaly north of the historic A Pit. The area is characterized by limited historic drilling testing of a portion of large soil anomaly.  A large area of the soil anomaly remains untested, and drill-tested gold mineralization remains open in most directions with two gold zones identified in each hole.
• LBP009 and LBP011 were drilled in an area near the B Extension Pit, attesting to the upside in this area.
• LBP011, on the south side of the B Extension Pit, returned a high-grade intercept starting from surface. This area is open to the south and southwest, with no historic drill holes or soil geochemical sampling for a distance of over 200 m.
• A comprehensive Plan of Operations was submitted to U.S. Forest Service in Q2 2017 that will allow access to the entire main target area as well as other satellite areas.

On the basis of our validation drill program, compilation of 1874 historic holes, past production figures and comparison to the size and grade of other nearby sediment-hosted deposits, Liberty Gold is targeting a 2 to 4 million ounce oxide gold deposit (60-200 million tonnes grading between 0.4 and 1.5 g/t gold) in the main area of alteration and historic mining.*

* Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/BP_Intercepts032018.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/BlackPine_NR092018.pdf

The Company is targeting a Phase 2 drilling program in order to investigate the scope of multiple targets. This drill program will follow up on outstanding results from the A Basin area (see January 5, 2018 press release), J Anomaly and B pit extension, as well as test other high priority targets. A new Plan of Operations is pending that will open up access to the entire 12 square kilometre area of anomalous surface soil and rock geochemistry and historic gold in drill holes for comprehensive drill testing.  In particular, between and proximal to the historical C-D and E pits, there is an approximately 2.5 square km area where historical soil samples grade between 0.10 and 0.50 g/t Au, which warrants an extensive drill program.

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 Au, with a reported recovery of 65%. 

Liberty Gold is in possession of data from 1874 shallow holes, totaling 191,499 metres, 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: http://libertygold.ca/images/Presentations/2018/February/Black_Pine_-_FINAL_Feb_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 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.

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. Historic data largely predate the introduction of NI 43-101 and modern QA-QC protocols and therefore there are limitations on the level of verification that can be achieved.

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 responsible for the majority of all gold produced in the USA 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 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 26, 2018 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 9, 2018 (the “Meeting”). A total of 99,149,075 common shares were voted, representing the votes attached to 56.05% 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. 

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, 2018. All amounts are presented in United States dollars unless otherwise stated.

Liberty Gold will continue to focus on exploring, discovery and de-risking Carlin Style gold deposits in the Great Basin – USA.  Our focus is driven by a proven track record of multiple discoveries and a Company decision to focus our efforts in safe jurisdictions, Utah, Idaho and Nevada.  The Goldstrike Project in Utah has advanced from being an exploration property to a project with an active PEA underway.  The Black Pine Project in Idaho follows Goldstrike in terms of advancement and is being prepared for its first extensive RC drill program since historical mine closure in 1997.  Liberty Gold continues to drill test the Kinsley project in Nevada, targeting deeper high grade Carlin Style targets.

Recent Highlights:

Goldstrike

• Announced commencement of a Preliminary Economic Assessment (“PEA”)¹.
• Completed a 1,357 metre (m), 15 hole diamond core drilling program, providing additional material for metallurgical testing in areas of the deposit not previously studied.
• Commenced a 14,900m phase reverse circulation (“RC”) drill plan which will include resource expansion drilling and exploratory drilling of new targets.
• Announced a maiden resource estimate consisting of an indicated resource of 865,000 ounces of gold at an average grade of 0.54 g/t Au (49,553,000 tonnes); and an inferred resource of 274,000 ounces of gold at an average grade of 0.52 g/t Au (16,443,000 tonnes), quoted at a cut-off grade of 0.25 g/t Au.²

Black Pine³

• Announced the remaining drill results from the 2017 RC drill program at Black Pine:
  • 0.96 grams per tonne gold (g/t Au) over 24.4 metres (m) including 6.18 g/t Au over 1.5 m, and 1.03 g/t Au over 9.1 m including 1.28 g/t Au over 6.1 m and 0.54 g/t Au over 15.2 m in LBP004
  • 0.72 g/t Au over 9.1 m including 2.65 g/t Au over 1.5 m and 0.42 g/t Au over 9.1 m in LBP005
  • 1.80 g/t Au over 7.6 m including 2.77 g/t Au over 4.6 m and 0.60 g/t Au over 18.3 m in LBP006
  • 0.52 g/t Au over 33.5 m including 1.41 g/t Au over 3.0 m and 0.45 g/t Au over 9.1 m and 0.69 g/t Au over 24.4 m in LBP009
  • 2.37 g/t Au over 10.7 m and 0.65 g/t Au over 15.2 m including 1.38 g/t Au over 4.6 m in LBP011.

Kinsley

• Commenced a 2,250m RC drill program focusing on the Western Flank’s eastern extension and the Secret Canyon Shale horizon.

Moira Smith, Ph.D., P.Geo., Vice President Exploration and Geosciences, 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 scientific and technical information contained in this release is accurate.

Goldstrike, Kinsley and Black Pine are early stage exploration projects; the potential quantities and grades disclosed herein are conceptual in nature and, except for the mineral resource estimate at Goldstrike and Kinsley, there has been insufficient exploration to define a mineral resource for other targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource.

¹ See press release of March 22, 2018
² See the “Independent Technical Report and Resource Estimate for the Goldstrike Project, Washington County, Utah, USA” effective February 8, 2018 and signed March 21, 2018 authored by Independent Qualified Persons David Rowe, CPG, of SRK Consulting (Canada) Inc., James N. Gray, P.Geo, of Advantage Geoservices and Gary Simmons, MMSA of GL Simmons Consulting LLC, and is in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The report is available under the Company’s profile at sedar.com and is also available on the Company’s website at www.libertygold.ca.
³ See press release of April 11, 2018

SELECTED FINANCIAL DATA

The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the three months ended March 31, 2018 as prepared in accordance with International Accounting Standard 34, Interim Financial Reporting. A copy of the Interim Financial Statements is available on the Company’s website at www.libertygold.ca or on SEDAR at www.sedar.com.

The information in the tables below is presented in $000s except per share data:

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, the commencement of a PEA, proposed additional metallurgical testing and beliefs regarding gold resources being contained within the 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 completion 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.

Post-tax NPV5% of US$129.5 million, IRR of 29.4%, and Initial Capex of US$113.2 million

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company") is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) at its Goldstrike oxide gold property, Utah. The PEA utilizes the maiden resource estimate completed in February 2018 (see news release dated February 8, 2018), and provides a strong, base-case economic scenario upon which to expand the scope and scale of the project with ongoing drilling. The PEA confirms a low capital intensity, low operating cost, open-pit, run-of-mine, heap-leach operation, with a 7.5 year mine life and highly attractive economics.

“This positive PEA marks a solid milestone for the Goldstrike project and for Liberty Gold,” stated Cal Everett, President and CEO of Liberty Gold. “Importantly, it is based on a high degree of confidence in the deposit geometry because it is backed up by over 1,700 drill holes with 75% of the resource in the indicated category. There is a high level of certainty in the metallurgical assumptions, as they are consistent with historical recoveries obtained from 209,000 ounces of historical production between 1988 and 1994. The PEA does not include any potential benefits from by-product silver production or from processing residual gold remaining in the historical heap leach pads, which are currently being drill-tested. A gold cut-off grade of 0.20 grams per tonne (“g/t”) was selected for this study, in contrast to 0.25 g/t used in the original resource estimate. The lower cut-off improves the economics of the project, delivers a lower strip ratio, produces more ounces, and extends the mine life. We see this project as scalable in terms of both size and throughput through future additions to the resource base, moving us closer to our goal of becoming a 100,000+ ounce per year producer.”

PEA Highlights

The base case assumes a gold price of US$1,300/ounce (“oz”). All figures are stated in U.S. Dollars (“$”) unless otherwise noted. The Technical Report pursuant to National Instrument (“NI”) 43-101 guidelines for the Preliminary Economic Assessment will be filed on SEDAR within 45 days.

• After-tax Net Present Value at a 5% discount rate (“NPV5%”) and Internal Rate of Return (“IRR”) of $129.5 million and 29.4% respectively with a 2.3 year payback of initial capital (pre-tax NPV5% and IRR of $176.2 million and 34.8% respectively)
• Mine life of 7.5 years with a 2 year pre-production period
• Life of mine (“LOM”) head grade of 0.48 g/t gold
• Low LOM Strip Ratio of 1.2:1
• Total amount of gold recovered is estimated at 713,000 oz
• Average annual gold production of approximately 95,000 oz
• Peak annual gold production of approximately 117,000 oz
• LOM direct operating cash cost1 is estimated at $642/oz of gold recovered
• All-in sustaining cost or AISC2 is estimated at $793/oz of gold recovered
• Pre-production capital cost estimated at $113.2 million, using an owner-operator approach
• LOM sustaining capital costs estimated at $61.6 million, plus $20.0 million for closure costs

¹ Cash cost includes mining cost, mine-level G&A, leaching and refining cost
² All-in sustaining cost (AISC) includes adjusted cash cost per ounce, sustaining capital and closure costs. This is a non-GAAP performance measure; please see “Non-GAAP Measures and Other Financial Measures” below.

The PEA was prepared by SRK Consulting (Canada) Inc., of Vancouver, British Columbia (“SRK”), Golder Associates Inc. of Reno, Nevada (“Golder”), Kappes Cassiday and Associates of Reno, Nevada (“Kappes”), Advantage Geoservices of Osoyoos, British Columbia and GL Simmons Consulting LLC of Larkspur, Colorado.

The PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

PEA Overview

Goldstrike hosts disseminated gold mineralization similar to deposits on the Carlin Trend, with strong oxidation in most areas.

The PEA envisions recovery of gold and silver from the Goldstrike mineralized material using a run of mine (“ROM”) heap-leach circuit. The ROM material will be leached with a dilute cyanide solution, and the leached gold will be recovered from solution using a carbon adsorption circuit followed by electrowinning and refining in a furnace to produce doré bars.

Important project metrics are presented in the following tables.

¹Includes mining cost, mine-level G&A, leaching and refining cost
²Includes the above plus royalties
³Includes the above plus sustaining and closure costs

Mining

The PEA Study utilizes open pit mining with mine planning based on economic pit shells generated by mine planning software. Mine production is planned at 22,500 tonnes per day or 8.2 million tonnes per year of leach feed (mineralized) material. With an average waste to leach feed material strip ratio of 1.2 to 1, the average mining rate is approximately 50,000 tonnes per day of leach feed and waste material. The open pit mining at Goldstrike was designed utilizing an owner-operated, conventional mine fleet of front end loaders and trucks.

¹million tonnes
²numbers may not add due to rounding

Processing

The PEA Study assumes processing of run-of-mine (without crushing) leach feed material by truck stacking onto a single heap leach pad in nine metre vertical lifts. Gold and silver will be extracted via conventional heap leaching and will be recovered from the pregnant solution using a carbon adsorption circuit. The gold and silver will then be stripped from carbon using a desorption process followed by electrowinning to produce a precipitate sludge. The sludge is then roughly refined on site in a furnace to produce doré bars, which are shipped to a refinery.

Operating Costs

Operating costs are based on the mining and processing scenario outlined above. Mining costs are relatively well known in the Great Basin, where a large number of similar operations are in existence.

¹Includes extraction of both mineralized material and waste rock

PEA Sensitivities

The PEA examines the effect on NPV5% of up to a 40% increase or decrease in capital (Capex) and operating (Opex) expenditures. NPV5% is strongly influenced by the price of gold.

The following tables show the change in NPV5% over a range of Opex, Capex and gold prices. The base case is shaded grey.

The following tables show the effect of Capex, Opex and Gold Price on IRR

The following table illustrates the effect of gold price and discount rate on NPV.

 Project Enhancement Opportunities

The PEA demonstrates the potential economic viability of the Goldstrike Project. The PEA also outlines a number of opportunities for Project Enhancement.

• Potential additions to the bedrock resource base: drilling is ongoing at Goldstrike, and a large number of areas, both peripheral to the current resource and in satellite targets, are undrilled, insufficiently drilled or are currently undergoing drill testing. An updated resource estimate is targeted for the first half of 2019.
• Potential additions to the resource through testing of surficial areas: Historic heap leach pads, stockpiles and waste dumps are currently undergoing drill testing. While these areas were considered sub-economic in the late 1990s, they may prove to be of greater interest today. Much of this material, currently classified as waste, falls within the high walls of the PEA pits.
• Potential upgrade of inferred mineral resources to measured and indicated mineral resources: Infill drilling for this purpose is ongoing.
• Silver credits: The Goldstrike Mine operated from 1988 through 1994 and, based on historical records from operators Tenneco Minerals Co. and USMX, produced 209,000 oz of gold and 197,000 oz of silver, or approximately 0.95 oz of silver for every oz of gold recovered. Based on this, silver assays from approximately 550 Liberty Gold drill holes, and Liberty Gold metallurgical testing carried out to date, the Company believes there is potential for significant silver revenues from a future operation at Goldstrike. Liberty Gold intends to pursue a silver resource study to quantify a silver resource, as well as a review of metallurgical test data to estimate silver recoveries that could be expected at the Goldstrike Project.
• Optimization of the mine plan: The PEA represents the first step toward addressing the viability of a mining operation at Goldstrike. Further work may identify opportunities for cost-saving, such as waste haul optimization and improved pit sequencing through pit phasing. Contract mining or a leased mine fleet will also be assessed.
• Further metallurgical test work: Metallurgical test work is currently underway in areas not previously tested. This work may lead to changes in the recovery curves used for this study, and more advanced studies may identify other ways to enhance recovery.

Jim Lincoln, Chief Operating Officer for Pilot Goldstrike, a subsidiary of Liberty Gold, stated, “In our team’s operating history, we have consistently adopted a mine development approach that emphasizes project de-risking through concurrent engineering, metallurgy, social license considerations, procurement of process water and addressing what is necessary to a develop a mine from advanced exploration projects. This has proven to add value to mining projects which I have worked on such as Long Canyon, Nevada and Karma, Burkina Faso, West Africa. Liberty Gold’s Goldstrike project continues to progress with this development philosophy.”

Further details of the PEA will be available in a NI 43-101 technical report to be filed on SEDAR within 45 days. For an illustrative graphic of the PEA highlights, as-mined resource blocks and mine site layout, please click here:

https://libertygold.ca/images/sites/default/files/GS PEA Highlights.pdf

Future Plans

Liberty Gold is committed to a program of continuing to address key development requirements and advance the project while further demonstrating economic viability in the most efficient way possible through:

• Continued drilling to address potential resource conversion, possible additions to the resource through drilling adjacent to the existing resource and drilling of superjacent surficial deposits, and testing of new targets (in progress)
• Metallurgical testing (in progress)
• Geochemical characterization of waste rock
• Baseline studies (meteorology, hydrology, etc.)
• Procurement of process water (in progress)
• Expanded permitting for drilling (in progress)
• Earning our social license (ongoing).

Restated Mineral Resource Estimate

The Company’s February 2018 mineral resource estimate formed the original basis for the PEA. This resource estimate, and the Technical Report within which it is reported, was prepared by SRK, and entitled “Independent Technical Report and Resource Estimate for the Goldstrike Project, Washington County, Utah, USA” effective February 8, 2018 and signed March 21, 2018. (the “Technical Report”). The Technical Report was authored by Independent Qualified Persons David Rowe, CPG, of SRK Consulting (Canada) Inc., James N. Gray, P.Geo, of Advantage Geoservices and Gary Simmons, MMSA of GL Simmons Consulting LLC. The report is available under the Company’s profile at www.sedar.com and on the Company’s website at www.libertygold.ca.

In the course of preparing the PEA, a lower cut-off grade of 0.20 g/t gold (compared to 0.25 g/t gold in the original resource) was determined to be more suitable for the economic assessment. Accordingly, the mineral resource was restated to reflect this change (the mineral endowment at the 0.20 g/t gold cut off was previously released in a sensitivity table in the Technical Report).The effective date for the data used in the resource estimate remains February 8, 2018, and all other parameters remain the same.

Restated Mineral Resource Statement for Goldstrike Project – Effective February 8, 2018*

*   Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves. The estimate of Mineral Resources may be materially affected by changes in environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that may arise subsequent to the effective date. The CIM definitions were followed for the classification of Indicated and Inferred Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated Mineral Resource category. All figures have been rounded to reflect the relative precision of the estimates. Mineral Resources are reported at a cut-off grade of 0.20 g/t gold based on $1,500 per troy ounce gold and gold metallurgical recoveries on a sliding scale by grade.

Qualified Persons

The following persons are the Company's designated Qualified Persons for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and have reviewed and approved the information contained in this news release and verified all data for which they are responsible, including sampling, analytical and test results underlying the information or opinions contained herein. Each of the following persons is an “Independent Qualified Person” under NI 43-101.

• Bob McCarthy, P.Eng. - SRK Consulting (Canada) Inc.
• Russ Browne, PE - Golder Associates Inc.
• Carl Defilippi, RM SME - Kappes Cassiday & Associates
• James N. Gray, P.Geo. - Advantage Geoservices Ltd
• Gary Simmons, MMSA - GL Simmons Consulting, LLC

Non-GAAP Measures and Other Financial Measures

Alternative performance measures are furnished to provide additional information. These non-GAAP performance measures are included in this news release because these statistics are key performance measures that management uses to monitor performance, to assess how the Company is performing, to plan and to assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a standard meaning within International Financial Reporting Standards (“IFRS”) and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.

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 gold and an average recovery of approximately 75%.

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.

VANCOUVER, B.C. – Liberty Gold Corp. (LGD - TSX) ("Liberty Gold" or the "Company") is pleased to announce that further to its news release dated July 10, 2018, the Company has filed on SEDAR a National Instrument (“NI”) 43-101 Preliminary Economic Assessment (“PEA”) Technical Report for the Goldstrike Oxide Gold Deposit, Utah, USA.

The NI 43-101 PEA Technical Report is entitled “Preliminary Economic Assessment and Independent Technical Report for the Goldstrike Project, Washington County, Utah USA”, effective February 8, 2018 and signed July 16, 2018 (the “Technical Report”). The Technical Report was authored by independent Qualified Persons and is in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

The Technical Report is available under the Company’s profile at www.sedar.com and will also be available on the Company’s website at www.libertygold.ca.

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 gold and an average recovery of approximately 75%.

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. 

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, 2018. All amounts are presented in United States dollars unless otherwise stated.

Liberty Gold will continue to focus on discovering, exploring and de-risking Carlin Style gold deposits in the Great Basin – USA.  Our focus is driven by a proven track record of multiple discoveries and a Company decision to focus our efforts in the jurisdictions of Utah, Idaho and Nevada.  The Goldstrike Project in Utah has been advanced from an exploration property to a project with a Preliminary Economic Assessment (“PEA”). 

The Black Pine Project in Idaho follows Goldstrike in terms of advancement and is being prepared for its first extensive RC drill program since historical mine closure in 1997.  Liberty Gold continues to drill test the Kinsley project in Nevada, targeting deeper, high-grade, Carlin style targets.

Recent Highlights:

Goldstrike

• Announced completion of a PEA¹:
  • After-tax Net Present Value at a 5% discount rate and Internal Rate of Return of $129.5 million and 29.4% respectively ($1,300 per ounce “oz” gold price)
  • Initial capital payback in 2.3 years
  • Mine life of 7.5 years with a 2 year pre-production period
  • Life of mine (“LOM”) head grade of 0.48 grams per tonne gold
  • Low LOM Strip Ratio of 1.2:1
  • Total amount of gold recovered estimated at 713,000 oz
  • Average annual gold production of approximately 95,000 oz
  • Peak annual gold production of approximately 117,000 oz
  • Pre-production capital cost estimated at $113.2 million, using an owner-operator approach
  • LOM sustaining capital costs estimated at $61.6 million, plus $20.0 million for closure costs

Kinsley

• Completed a 2,250 m reverse circulation (“RC”) drill program focusing on the Western Flank’s eastern extension and the Secret Canyon Shale horizon.

Moira Smith, Ph.D., P.Geo., Vice President Exploration and Geosciences, 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 scientific and technical information contained in this release is accurate.

Goldstrike, Kinsley and Black Pine are early stage exploration projects; the potential quantities and grades disclosed herein are conceptual in nature and, except for the mineral resource estimate at Goldstrike and Kinsley, there has been insufficient exploration to define a mineral resource for other targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource.

SELECTED FINANCIAL DATA

The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the six months ended June 30, 2018 as prepared in accordance with International Accounting Standard 34, Interim Financial Reporting. 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.

______________________________

¹ See the  “Preliminary Economic Assessment and Independent Technical Report for the Goldstrike Project, Washington County, Utah USA”, effective February 8, 2018 and signed July 16, 2018 authored by Independent Qualified Persons Bob McCarthy, P.Eng. Valerie Sawyer, SME , David Rowe, CPG  and Neil Winkelmann, FAusIMM of SRK Consulting (Canada) Inc.; Gary Simmons, MMSA of GL Simmons Consulting, LLC;  James N. Gray, P.Geo. of Advantage Geoservices Ltd; George Lightwood, SME, Russell Browne, P.E.  and Michael Bidart, P.E. of Golder Associates Inc.;  and Carl Defilippi, RM SME of Kappes Cassidy & Associates, and is in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The report is available under the Company’s profile at sedar.com and is also available on the Company’s website at www.libertygold.ca.

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,  proposed additional metallurgical testing and beliefs regarding gold resources being contained within the 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 any 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.

Leach Pad: 0.57 g/t Au over 32.0 m; 0.62 g/t Au over 15.2 m;
Back Fill: 0.58 g/t Au over 16.7 m; 0.69 g/t Au over 6.1 m;
Bedrock: 1.42 g/t Au over 13.7 m; 0.85 g/t Au over 39.6 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce the results from initial reverse circulation (“RC”) drill testing of the historic heap leach pads and one area of historic mine waste backfill at the Goldstrike Project, the flagship of its three principal gold projects located in the prolific Great Basin of the United States.

Results confirm that the historical leach pads, the back fill below the pad linings and bedrock to depth contain areas of gold mineralization above the cut-off grade used in the Goldstrike Preliminary Economic Assessment (“PEA”)¹.

On July 10, 2018, Liberty Gold released a PEA for Goldstrike, confirming a low capital intensity, low operating cost, open-pit, run-of-mine, heap-leach operation, with a 7.5 year mine life and highly attractive economics, including a post-tax Net Present Value (5% discount rate) of US$129.5 million, Internal Rate of Return of 29.4%, and Initial Capex of US$113.2 million. 

To aid in further advancement and de-risking of the Goldstrike Property, drill testing of the historic heap leach pads, stockpiles, waste dumps and pit backfill is underway.  Most of the areas currently being tested lie within the PEA pit and are classified as waste in the model.  Conversion of any of these areas to mineralized leach material would potentially add low-cost ounces to the resource, consisting of gold in material previously drilled, blasted and placed on surface.

¹ See the  “Preliminary Economic Assessment and Independent Technical Report for the Goldstrike Project, Washington County, Utah USA”, effective February 8, 2018 and signed July 16, 2018 authored by Independent Qualified Persons Bob McCarthy, P.Eng. Valerie Sawyer, SME , David Rowe, CPG  and Neil Winkelmann, FAusIMM of SRK Consulting (Canada) Inc.; Gary Simmons, MMSA of GL Simmons Consulting, LLC;  James N. Gray, P.Geo. of Advantage Geoservices Ltd; George Lightwood, SME, Russell Browne, P.E.  and Michael Bidart, P.E. of Golder Associates Inc.;  and Carl Defilippi, RM SME of Kappes Cassidy & Associates, and is in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The report is available under the Company’s profile at sedar.com and is also available on the Company’s website at www.libertygold.ca.

Goldstrike 2018 Surficial Targets Drill Results

Defined terms: grams per tonne (“g/t”), gold (“Au”), Azimuth (“Az”), metres (“m”)

KEY POINTS

• The results to date support Liberty Gold’s thesis that considerable gold remains in surficial deposits created during the historic mining operation, which operated during a period of very low gold prices and much higher ore-to-waste cut-off grades. Heap leach technology has advanced considerably in the last 20 years, with recovery of gold possible from previously-leached material.
• The heap leach pads are underlain by considerable thicknesses of mineralized backfill material.
• Drill holes encountered areas of unmined mineralization in the pit floors and walls under backfilled areas.
• Cyanide solubility tests carried out in conjunction with fire assaying of the drill samples from the heap leaches show moderate cyanide solubility. Additional testing will be carried out to determine potential recovery and the best methods to achieve it.
• Cyanide solubility of backfill material averages 86%.
• Additional drilling in these areas is warranted, as well as testing of other areas designated as historic stockpiles, waste dumps and pit backfill.
• Drone lidar surveying is being utilized to accurately estimate the volume of material stacked on the heap leach pads, currently estimated at approximately 8 million tons¹.
• Results will be included in the next resource estimate.

For a map of drill collars and traces and a cross section for the current release, please click here:  http://libertygold.ca/images/sites/default/files/Goldstrike_NR082018.pdf

An RC drill program is currently underway with two drills, with over 16,000 metres drilled to date.  In addition to testing of the historic heap-leach, stockpile and waste dump areas, infill and step out drilling around the existing resource and testing of new targets property-wide is also underway.  An amendment to the current Plan of Operations to grant access to an additional >878 acres in and adjacent to the resource area is expected in in the final quarter of 2018.

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. Holes were drilled using a casing-advance system with a centre-return hammer in order to insure sample integrity and minimize the likelihood of cross contamination between samples. 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

0.79 g/t Au over 69.6 m including 2.46 g/t Au over 7.6 m
1.41 g/t Au over 36.9 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce the results from a large-diameter metallurgical core 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.

Liberty Gold continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate released in February¹. On July 10, 2018, Liberty Gold released a Preliminary Economic Assessment for Goldstrike (“PEA”)², confirming a low capital intensity, low operating cost, open-pit, run-of-mine, heap-leach operation, with a 7.5 year mine life and highly attractive economics, including a post-tax Net Present Value (5% discount rate) of US$129.5 million, Internal Rate of Return of 29.4%, and Initial Capex of US$113.2 million. 

To aid in further advancement of the Goldstrike Property, a large diameter (PQ) core drilling project was undertaken in order to obtain the material needed to approximately double the number of metallurgical column tests in the resource area from a current 20 columns, primarily located in the Main Zone, to approximately 40, located throughout the resource area.  Fifteen PQ diamond core holes, totaling 1,357 metres, were completed.

Drill Highlights include:

• 0.59 grams per tonne gold (g/t Au) over 8.7 metres (m) and 0.79 g/t Au over 69.6 m including 2.46 g/t Au over 7.6 m in PGS483C
• 1.41 g/t Au over 36.9 m in PGS486C
• 0.71 g/t Au over 45.6 m in PGS487C
• 0.70 g/t Au over 47.4 m in PGS484C
• 0.67 g/t Au over 33.5 m, including 1.45 g/t Au over 9.8 m in PGS478C
• 0.33 g/t Au over 36.7 m and 0.41 g/t Au over 18.3 m in PGS488CA

¹ See press release dated February 8, 2018
² See the  “Preliminary Economic Assessment and Independent Technical Report for the Goldstrike Project, Washington County, Utah USA”, effective February 8, 2018 and signed July 16, 2018 authored by Independent Qualified Persons Bob McCarthy, P.Eng. Valerie Sawyer, SME , David Rowe, CPG  and Neil Winkelmann, FAusIMM of SRK Consulting (Canada) Inc.; Gary Simmons, MMSA of GL Simmons Consulting, LLC;  James N. Gray, P.Geo. of Advantage Geoservices Ltd; George Lightwood, SME, Russell Browne, P.E.  and Michael Bidart, P.E. of Golder Associates Inc.;  and Carl Defilippi, RM SME of Kappes Cassidy & Associates, and is in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The report is available under the Company’s profile at sedar.com and is also available on the Company’s website at www.libertygold.ca.

KEY POINTS

• Liberty Gold continues to execute and deliver on its commitment to advance the Goldstrike Project through additional metallurgical drilling throughout the current resource area.
• The drill holes also infill targets in the Dip Slope and Western resource zones, and results are consistent with previous RC drilling from these areas.
• Composite selection for column tests is underway, with final results expected in the first half of 2019.

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/GS_Intercepts08282018.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/Goldstrike_NR08282018.pdf

In addition to the core drilling program, a reverse circulation program is currently underway with two drills.  To date, over 16,000 m have been drilled, with a low all-in cost for RC drilling of only US$55/m, well under the industry average. The program is 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 August 16, 2018 press release); and 3) testing of new targets property-wide.  An amendment to the current Plan of Operations to grant access to an additional >878 acres in and adjacent to the resource area is expected in the final quarter of 2018.

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

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce it has filed on SEDAR a National Instrument (“NI”) 43-101 Technical Report for the Black Pine Oxide Gold Deposit, Idaho, USA, entitled “Technical Report of the Black Pine Gold Project, Cassia County, Idaho, USA”, effective July 23, 2018 and signed September 7, 2018 (the “Report”).

The Report was prepared by Michael M. Gustin, CPG, of Mine Development Associates of Reno, Nevada, Moira T. Smith, Ph.D., P.Geo., Vice President, Exploration and Geoscience, Liberty Gold and William A. Lepore, M.Sc., P.Geo., Senior Project Geologist, Liberty Gold. Mr. Gustin is independent of Liberty Gold Corp and all its subsidiaries. Mr. Gustin, Dr. Smith and Mr. Lepore are “Qualified Persons” as defined by NI 43-101.

Black Pine, located in southeastern Idaho, is a past-producing, run-of-mine, oxide - heap leach gold mine that contains a large, shallow, district-scale, Carlin-style gold system, similar in nature to Liberty Gold’s Goldstrike Project.

The Company released results (See press releases dated January 5, 2018 and April 11, 2018) of a late 2017 drill program designed to test five permitted target areas, four for verification and possible expansion of the historical drill results and one to test the eastern edge of the main gold target area where historical base metal mining occurred.

On the basis of this validation drill program, compilation of 1874 historic holes, past production figures, new geological modeling and comparison to the size and grade of other nearby sediment-hosted deposits, Liberty Gold is targeting a 2 to 4 million ounce oxide gold deposit [60-200 million tonnes grading between 0.4 and 1.5 grams/tonne gold (“g/t Au”)] in the main area of alteration and historic mining.*

* Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

The Technical Report is available under the Company’s profile at www.sedar.com and will also be available on the Company’s website at www.libertygold.ca.

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 Au, with a reported recovery of 65%. 

Liberty Gold is in possession of data from 1874 shallow holes, totaling 191,499 metres, 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 and structural and stratigraphic targets.

_{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.}

_{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 and potential size of a mineralized zone. 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 26, 2018 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 entered into an agreement with a syndicate of underwriters led by Sprott Capital Partners, a division of Sprott Private Wealth LP (collectively, the “Underwriters”) pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 15,000,000 units of the Company (the “Units”) at a price of C$0.40 per Unit (the “Issue Price”) for gross proceeds to the Company of C$6,000,000 (the “Offering”). Each Unit will consist of one common share of Liberty Gold (each, a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share of Liberty Gold at a price of C$0.60 at any time prior to the date which is three years following completion of the Offering.

In addition, Liberty Gold has granted the Underwriters an option (the “Underwriters’ Option”), exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the financing, to purchase up to an additional 15% of the number of Units solely to cover over-allotments, if any, and for market stabilization purposes.

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, focused on the Goldstrike project in Utah, as well as the Black Pine project in Idaho, and the Kinsley deposit in Nevada and for general working capital purposes.

Liberty Gold intends to file with the securities commissions and other similar regulatory authorities in the provinces of Canada, other than Quebec, a preliminary short form prospectus relating to the issuance of the Units by September 18, 2018.

The Offering is scheduled to close on or about October 2, 2018 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 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 regarding the intention to file a prospectus in each of the provinces in Canada other than Quebec, 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 26, 2018 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 entered into an amended agreement with a syndicate of underwriters led by Sprott Capital Partners, a division of Sprott Private Wealth LP (collectively, the “Underwriters”) pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 25,125,000 units of the Company (the “Units”) at a price of C$0.40 per Unit (the “Issue Price”) for gross proceeds to the Company of C$10,050,000 (the “Offering”). Each Unit will consist of one common share of Liberty Gold (each, a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share of Liberty Gold at a price of C$0.60 at any time prior to the date which is three years following completion of the Offering.

In addition, Liberty Gold has granted the Underwriters an option (the “Underwriters’ Option”), exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the financing, to purchase up to an additional 15% of the number of Units solely to cover over-allotments, if any, and for market stabilization purposes.

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, focused on the Goldstrike project in Utah, as well as the Black Pine project in Idaho, and the Kinsley deposit in Nevada and for general working capital purposes.

Liberty Gold intends to file with the securities commissions and other similar regulatory authorities in the provinces of Canada, other than Quebec, a preliminary short form prospectus relating to the issuance of the Units by September 18, 2018.

The Offering is scheduled to close on or about October 2, 2018 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 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 regarding the intention to file a prospectus in each of the provinces in Canada other than Quebec, 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 26, 2018 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$11,557,500 (the “Offering”).

A syndicate of underwriters (collectively, the “Underwriters”) purchased, on a bought deal basis, 25,125,000 units of the Company (the “Units”) at a price of C$0.40 per Unit (the “Issue Price”) for gross proceeds to the Company of C$10,050,000.  The underwriters also exercised the over-allotment option in full and purchased an additional 3,768,750 Units to cover over-allotments for additional gross proceeds to the Company of C$1,507,500. Each Unit consisted of one common share of Liberty Gold (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at a price of C$0.60 at any time prior to October 2, 2021.

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, focused on the Goldstrike project in Utah, as well as the Black Pine project in Idaho, and the Kinsley deposit in Nevada and for general working capital purposes.

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 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 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 regarding the expected use of proceeds. 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 26, 2018 in the section entitled "Risk Factors" and those factors discussed in the short form prospectus of the Company dated September 26, 2018 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.

1.17 g/t Au over 67.1 m including 2.21 g/t Au over 25.9 m
0.99 g/t Au over 51.8 m including 2.45 g/t Au over 10.7 m and 1.84 g/t Au over 4.6 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce the results from ongoing Reverse Circulation (RC) drilling 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.

The Peg Leg area is located 250 m south of the main Goldstrike Deposit. This area is currently the subject of infill and step out drilling in order to increase the historical footprint of mineralization and bring unclassified mineralization outside of the resource pit limit into the pit.  Results have been received from 31 drill holes, with several more pending.

Cal Everett, President and CEO of Liberty Gold commented, “The Peg Leg exploration results have confirmed this area to have starter pit potential given the higher grade results over significant widths. It confirms our belief that oxide gold bearing feeder structures follow multiple orientations that crosscut the main Goldstrike Deposit trend.”

Liberty Gold continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate released in February¹. The Preliminary Economic Assessment (“PEA”)², published in July 2018, is based on a resource that includes drill results through the end of 2017.  Liberty Gold resumed drilling in April 2018 and has drilled over 20,000 m of RC to date.  Drilling has focused on resource growth around the PEA pits, as well as testing of reconnaissance targets in other areas of the property. 

Drill Highlights include:

PEG LEG

• 1.17 grams per tonne gold (g/t Au) over 67.1 metres (m) including 2.21 g/t Au over 25.9 m in PGS630
• 0.44 g/t Au over 32.0 m and 1.14 g/t Au over 42.7 m including 2.00 g/t Au over 18.3 m in PGS579 (starting from surface)
• 0.99 g/t Au over 51.8 m including 2.45 g/t Au over 10.7 m and 1.84 g/t Au over 4.6 m in PGS631
• 1.63 g/t Au over 9.1 m and 1.59 g/t Au over 21.3 m in PGS636 (starting from surface)
• 0.79 g/t Au over 45.7 m including 1.88 g/t Au over 10.7 m in PGS574
• 0.48 g/t Au over 16.8 m and 0.71 g/t over 36.6 m in PGS577
• 0.57 g/t Au over 42.7 m including 3.43 g/t Au over 3.0 m and 0.52 g/t over 13.7 m in PGS580

PEG LEG KEY POINTS

• Liberty Gold continues to advance its effort to add to the Goldstrike resource base through infill and step out drilling in the areas of previously defined resources.
• Infill and step-out drilling in the Peg Leg area continues to yield additional areas of mineralization as fault- and breccia-hosted and basal Claron Formation-hosted jasperoid, at relatively shallow depth.
• Peg Leg drilling in 2018 has yielded some of the best intercepts ever drilled on the property, on a grade multiplied by thickness basis.

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/GS_Intercepts10242018.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/Goldstrike_NR10242018.pdf

The reverse circulation program is currently underway with one drill. The program is 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 August 16, 2018 press release); and 3) testing of new targets property-wide.  An amendment to the current Plan of Operations to grant access to an additional >878 acres in and adjacent to the resource area is expected in the final quarter of 2018.

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}

0.72 g/t Au over 76.2 m including 1.26 g/t Au over 6.1 m
0.98 g/t Au over 15.2 m and 0.81 g/t Au over 27.4 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce results from its ongoing Reverse Circulation (RC) drilling 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.

In 2018, The Southwest Goldstrike Trend (Beavertail Area) was drill-tested both within and outside of gold resources¹ contained within the Preliminary Economic Assessment² (“PEA”) pit.  Results have been received for 19 holes to date, with additional results pending. 

To the west of the resource area and PEA pit, drilling targeted a large area with surface gold-in-soil anomalies and associated jasperoid alteration (West Beavertail).  Shallow oxide gold mineralization was encountered in multiple drill holes, extending drill-tested gold mineralization over 300 metres from the Main Beavertail area.  The mineralized zone remains open for extension to the south and west.  Future drilling will focus on bringing the new extension into the existing resource model.

Drill Highlights include:

GOLDSTRIKE DEPOSIT (BEAVERTAIL MAIN) – INFILL AND STEP-OUT WITHIN AND ADJACENT TO CURRENT RESOURCE AREA

Defined terms: grams per tonne (“g/t”), gold (“Au”), Azimuth (“Az”), metres (“m”)

WEST BEAVERTAIL

SOUTHWEST EXTENSION (BEAVERTAIL AND WEST BEAVERTAIL) KEY POINTS

• The Goldstrike Resource in the Beavertail area is characterized by a contiguous body of mineralization that starts at surface and was partially mined by the historic operators
• Infill and step out drilling by Liberty Gold demonstrates that mineralization extends laterally beyond as well as below the limit of historic drilling.
• Liberty Gold discovered a new zone of mineralization extending to the west of the Goldstrike deposit (West Beavertail). It has been tested by 19 holes to date, with assays pending for 12 additional holes. The zone extends westward from the historic pit at least 300 m and is open to the south and west. 
• The zone lies on surface at the collars of holes PGS646, PGS648 and PGS650, which are spaced approximately 100 m apart, and is marked by abundant jasperoid float.
• Unlike other areas of the Goldstrike deposit, mineralization in this area is entirely hosted in Upper Paleozoic carbonate rocks. This is the first significant “stand alone” test of carbonate rocks by Liberty Gold. With roughly half the property underlain by Paleozoic carbonate strata at surface, the potential for additional mineralization hosted in this rock type is significant.
• Pending holes test areas to the south and up to 100 metres west of the holes reported in this release. All contain zones of jasperoid alteration similar to alteration in the highlighted holes.

GOLDSTRIKE GRABEN (CONDEMNATION DRILLING FOR HEAP LEACH PAD SITE)

The Goldstrike Graben area in the Western Zone was subject to condemnation drilling to assess suitability for location of a heap leach pad.  Results ranged from No Significant Results to a high of 0.35 g/t Au over 6.1 m and 1.03 g/t Au over 3.0 m and 0.39 g/t Au over 3.0 m in PGS606.  Combined with drilling from previous years, it is clear that there may be areas of gold mineralization inside the proposed PEA heap leach pad footprint that could warrant some follow-up work but, at present, most of the area appears to be better suited for location of infrastructure.

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/GS_Intercepts11052018.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/Goldstrike11052018.pdf

Liberty Gold continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate released in February³. The PEA⁴, published in July 2018, is based on a resource that includes drill results through the end of 2017 (1730 holes).   2018 drilling was 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 PEA pit model (see August 16, 2018 press release); and 3) testing of new targets property-wide.  An amendment to the current Plan of Operations to grant access to an additional >878 acres in and adjacent to the resource area is expected in the final quarter of 2018.

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 produced gold at an average head 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

¹See press release dated February 8, 2018
²See press release dated July 16, 2018
³See press release dated February 8, 2018
⁴See press release dated July 16, 2018

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, 2018. All amounts are presented in United States dollars unless otherwise stated.

Liberty Gold continues to focus on discovering, exploring and de-risking Carlin Style gold deposits in the Great Basin, USA.  Our focus is driven by a proven track record of multiple discoveries and a Company decision to focus our efforts in the mining-friendly jurisdictions of Utah, Idaho and Nevada.  The Goldstrike Project in Utah has been advanced from an exploration property to a project with a Preliminary Economic Assessment (“PEA”). 

The Black Pine Project in Idaho follows Goldstrike in terms of advancement and is being prepared for its first extensive RC drill program since historical mine closure in 1997.  Liberty Gold continues to drill test the Kinsley project in Nevada, targeting deeper, high-grade, Carlin style targets.

Recent Highlights:
Bought-Deal Financing¹

• Completed a bought deal financing, including the exercise of the overallotment in full, of C$11.56 million, (the "2018 Fall Bought-Deal") on October 2, 2018.

Goldstrike

• Announced results from the Reverse Circulation (“RC”) drill program designed to expand the current resource, and from drill testing of the historic heap leach pads and an area of historic mine waste backfill. Highlights include²
  • Beaver Tail
    • 0.72 grams per tonne gold (g/t Au) over 76.2 metres (m) including 1.26 g/t Au over 6.1 m in PGS591
    • 0.98 g/t Au over 15.2 m and 0.81 g/t Au over 27.4 m in PGS594
  • Peg Leg:
    • 1.17 grams per tonne gold (g/t Au) over 67.1 metres (m) including 2.21 g/t Au over 25.9 m in PGS630;
    • 0.44 g/t Au over 32.0 m and 1.14 g/t Au over 42.7 m including 2.00 g/t Au over 18.3 m in PGS579 (starting from surface);
    • 0.99 g/t Au over 51.8 m including 2.45 g/t Au over 10.7 m and 1.84 g/t Au over 4.6 m in PGS631;
    • 1.63 g/t Au over 9.1 m and 1.59 g/t Au over 21.3 m in PGS636 (starting from surface);
  • Drilling of surficial materials and underlying bedrock in areas of historical operations:
    • Leach Pad: 0.57 g/t Au over 32.0 m in PGS526; 0.62 g/t Au over 15.2 m in PGS536;
    • Back Fill: 0.58 g/t Au over 16.7 m in PGS538; 0.69 g/t Au over 6.1 m in PGS 551;
    • Bedrock (under leach pad): 1.42 g/t Au over 13.7 m in PGS556; 0.85 g/t Au over 39.6 m in PGS533
• Announced assay results from metallurgical core drilling with the following highlights²:
  • 0.59 g/t Au over 8.7 m and 0.79 g/t Au over 69.6 m including 2.46 g/t Au over 7.6 m in PGS483C;
  • 1.41 g/t Au over 36.9 m in PGS486C;
  • 0.71 g/t Au over 45.6 m in PGS487C;
  • 0.70 g/t Au over 47.4 m in PGS484C;
• Announced completion of a PEA³, with an after-tax Net Present Value at a 5% discount rate and Internal Rate of Return, of $129.5 million and 29.4% respectively, and with a 2.3 year payback of initial capital.

^{Moira Smith, Ph.D., P.Geo., Vice President Exploration and Geosciences, 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 scientific and technical information contained in this release is accurate.
Goldstrike, Kinsley and Black Pine are early stage exploration projects; the potential quantities and grades disclosed herein are conceptual in nature and, except for the mineral resource estimate at Goldstrike and Kinsley, there has been insufficient exploration to define a mineral resource for other targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource.}

SELECTED FINANCIAL DATA

The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the nine months ended September 30, 2018 as prepared in accordance with International Accounting Standard 34, Interim Financial Reporting. A copy of the Interim Financial Statements is available on the Company’s website at www.libertygold.ca or on SEDAR at www.sedar.com.

The information in the tables below is presented in $000s except per share data:

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}

¹See press release dated October 2, 2018.
²See press releases dated August 16, 2018, August 28, 2018, October 24, 2018 and November 5, 2018.
³See press release dated July 16, 2018

0.62 g/t Au over 61 m including 1.70 g/t Au over 7.6 m

1.06 g/t over 16.8 m

0.97 g/t over 33.5 m including 1.64 g/t over 15.2 m

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce results from ongoing Reverse Circulation (“RC”) drilling 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.

Liberty Gold drilled a total of 24,716 metres (“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.

The western portion of the Main Zone was subject to infill drilling of a 150 x 75 m inlier near the southern edge of the Preliminary Economic Assessment (“PEA”)[1] pit that was essentially undrilled.  Results have been received from seven drill holes, with additional holes pending. Drilling has also been completed within, under and adjacent to the PEA pit shell further to the west.  Additional mineralization was encountered in several locations.

Drill Highlights include:

WEST MAIN ZONE

• 1.01 grams per tonne gold (g/t Au) over 9.1 m and 0.30 g/t Au over 10.7 m and 0.80 g/t Au over 25.9 m including 2.03 g/t Au over 4.6 m in PGS633 (from surface)
• 0.62 g/t Au over 61 m including 1.70 g/t Au over 7.6 m in PGS635
• 0.63 g/t Au over 24.4 m in PGS639
• 1.34 g/t Au over 3.0 m and 0.53 g/t Au over 24.4 m in PGS642
• 0.52 g/t Au over 22.9 m in PGS637
• 0.74 g/t Au over 21.3 m and 0.42 g/t Au over 48.8 m and 0.27 g/t au over 9.1 m in PGS584
• 0.97 g/t Au over 33.5 m including 1.64 g/t Au over 15.2 m in PGS595
• 1.06 g/t Au over 16.8 m in PGS597
• 0.52 g/t Au over 9.1 m and 0.46 g/t Au over 33.5 m in PGS608

KEY POINTS

• Drilling in the south Main Zone area extends a known zone of higher-grade mineralization another 150 m to the west-northwest along the near-vertical Hamburg Fault feeder structure.
• This drilling fills in a large inlier with little drilling or previously identified mineralization southwest of the southern border of the PEA pit.
• Intercepts are relatively shallow, and likely project to surface in a covered area to the south of the drill sites.
• Results will be incorporated into an updated resource estimate in Q1 2019.
• Infill drilling in the western Main Zone filled in key gaps within higher-grade corridors of mineralization, in order to convert areas of Inferred resource to Indicated.
• Step-out drilling extended mineralization to depth and to the west along the west edge of the PEA pit.

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/GS_Intercepts11152018.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/Goldstrike_NR11152018.pdf

Liberty Gold continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate released in February[2]. A subsequent 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 August 16, 2018 press release); and 3) testing of new targets property-wide.  An amendment to the current Plan of Operations to grant access to an additional >878 acres in and adjacent to the resource area is expected before the end of the year.

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

VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce the receipt of a significant amendment to its Plan of Operations 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.
 
Liberty Gold continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate released in February¹, and a Preliminary Economic Assessment (“PEA”)² released in July. This permitting milestone is an important step toward meeting additional project goals.
 
Receipt of the Amendment to the Plan of Operations will expand access along the Goldstrike deposit trend from a fragmented area of approximately 5.11 km², to a contiguous 8.66 km² area. Within this area, Liberty Gold is no longer restricted to operating on site-specific roads and drill pads with fixed locations. The amended permit will allow Liberty Gold 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 areas was previously unavailable.  The amount of permitted disturbance remains unchanged.
 
Liberty Gold,  CEO Cal Everett stated, “Receipt of this important upgrade to our Plan of Operations will help address our goal of increasing the total recoverable gold ounces in the Goldstrike deposit to over 1 million ounces and a projected mine life of 10 years or greater. The current PEA base case for Goldstrike is 713,000 recoverable ounces and a 7.5 year mine life. The expanded access and removal of fixed roads and drill sites will help us meet that goal.”
 
REGIONAL TARGETS OUTSIDE OF THE UPGRADED PLAN OF OPERATIONS

Liberty Gold resumed drilling in April 2018 and completed a total of 24,716 m in 200 reverse circulation (“RC”) and 15 diamond core holes in 2018.  A number of holes tested mineralization in targets beyond the limits of the Goldstrike resource and amended Plan of Operations, the results of which are summarized below.  These holes build on the 2017 drill results, including holes at Mineral Mountain (1.78 grams per tonne gold (g/t Au) over 67.1 metres (m) including 3.14 g/t Au over 32.0 m in PGS277); Fence Line (2.25 g/t Au over 13.7 m within 1.46 g/t Au over 24.4 m in PGS 473); and Jack’s Camp (0.78 g/t Au over 12.2 m in PGS 466).
 
New Drill Highlights include:

JACK’S CAMP

• 0.72 g/t Au over 19.8 m in PGS524
• 0.64 g/t Au over 10.7 m and 0.28 g/t Au over 9.1 m in PGS525
• 0.61 g/t Au over 13.7 m in PGS523

FENCE LINE

• 2.77 g/t Au over 7.6 m in PGS532
• 1.10 g/t Au over 13.7 m in PGS585

BIG RED

• 0.23 g/t Au over 4.6 m and 1.12 g/t Au over 4.6 m and 0.30 g/t Au over 3.0 m in PGS558

POTTER’S PEAK

• 0.94 g/t Au over 4.6 m in PGS565

KEY POINTS

• Drilling at the Jack’s Camp - Jedi exploration target in the southern part of the property identified mineralization starting from surface along the margin of a granodiorite dyke. Additional drilling is warranted.
• The Fence Line exploration target yielded two higher-grade intercepts associated with an east-west striking structural zone and a graben bounding structure. This zone is open to the east and west and warrants further drilling
• Drill holes at Potter’s Peak targeted jasperoid along the basal contact of the Claron Formation, which is exposed and mineralized at surface along the south side of the target, and projected to lie at shallow depth to the north over an area >2 km². Initial drilling suggests that the jasperoid zone is relatively thin and variably mineralized, but the area tested is small in relationship to the size of the target, and more drilling is warranted.
• Future amendments to the Plan of Operations will focus on more comprehensive access to these areas.

For a complete table of drill results from the current holes, please click here:  http://libertygold.ca/images/sites/default/files/GS_Intercepts11292018.pdf

For a map of drill collars and traces for the current release, please click here:  http://libertygold.ca/images/sites/default/files/Goldstrike_NR11292018.pdf

The 2018 RC program was completed on November 1, 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 August 16, 2018 press release); 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}

Liberty Gold Announces Results of Infill and Step Out RC Drilling along the Northern Edge of the Main Goldstrike Deposit, Great Basin, USA

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.
 
The northern portion of the Main Goldstrike Deposit was tested with RC holes pursuant to infilling gaps in the existing resource model.  Mineralization in this area, known as the Dip Slope zone, is relatively shallow and drilling in 2018 was restricted to widely spaced, pre-determined roads and pads.  With the receipt of an amendment to the Plan of Operations that permits placement of roads and pads in optimal locations (see press release dated November 29, 2018), additional drilling is planned in 2019 that will fully address the infill drilling program.  The new Plan of Operations opens up over 2 square kilometres of new ground on the northern boundary to the Goldstrike Deposit for resource expansion.
 
Drill Highlights include: 

NORTHERN MAIN GOLDSTRIKE DEPOSIT (DIP SLOPE ZONE)

• 2.09 grams per tonne gold (g/t Au) over 16.8 metres (m) including 3.94 g/t Au over 7.6 m; and 0.90 g/t Au over 12.2 m in PGS615
• 1.08 g/t Au over 12.2 m in PGS493
• 0.39 g/t Au over 3.0 m and 0.48 g/t over 1.5 m and 0.69 g/t Au over 1.5 m and 0.49 g/t Au over 18.3 m and 2.42 g/t Au over 3.0 m in PGS674
• 0.28 g/t Au over 3.0 m and 0.36 g/t Au over 4.6 m and 0.72 g/t Au over 12.2 m in PGS675

KEY POINTS

• Drilling in the northern Main Goldstrike Deposit (Dip Slope Zone) area continues to expand mineralization along the shallowly north-dipping Claron Formation unconformity, with higher-grade intervals located along west-northwest-striking faults.
• Mineralization in this area is shallow, and, with infill drilling in 2018 restricted to previously-defined, widely-spaced drill sites, additional drilling will be necessary in 2019 in order to reduce the drill intercept spacing in this area with a goal to expand the current resource.
• 2019 drilling will be greatly aided by the receipt of an amendment to the Plan of Operations that will allow for drill sites to be placed where needed.
• 2018 Results will be incorporated into an updated resource estimate in Q1 – Q2, 2019.

 
MAIN GOLDSTRIKE DEPOSIT PIT BACKFILL DRILLING

Results have also been received for drill holes testing back-filled areas of two nearby historic pits in the Main Goldstrike Deposit.
 
Drill Highlights Include:

• 0.37 g/t Au over 22.9 m in PGS640 in the Hamburg Pit backfill area
• 1.58 g/t Au over 4.6 m in PGS610 in the Hassayampa pit backfill area

KEY POINTS

• Testing of backfilled areas of the historic pits continues to identify areas of above cut-off backfill material.
• These areas are currently classified as waste in the resource model and will be further tested and included in subsequent resource estimates.

For a complete table of drill results from the current holes, please click
here:  http://libertygold.ca/images/sites/default/files/GS_Intercepts12102018.pdf

For a complete table of results for all drilling from 2015 to November 2018, please

click here: http://libertygold.ca/images/sites/default/files/GS_Intercepts2015to12102018.pdf

For a map of drill collars and traces for the current release, please click
here:  http://libertygold.ca/images/sites/default/files/Goldstrike_NR12102018.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 continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate released in February1. A subsequent Preliminary Economic Assessment (“PEA”)2 is based on this resource, which includes drill results through the end of 2017.  The 2018 reverse circulation program was completed on November 1. 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 February 8, 2018
2 See press release dated July 16, 2018}