Liberty Gold report a resource of 2,613K Oz

May 15, 2023

Liberty Gold said that at the Black Pine project, we reported weighted average 86.9% gold extraction [Weighted average gold extraction is obtained using the equation multiplied by extraction (%) for all head grades/sum of all head grades.

Using arithmetic averages tends to over-represent low grade composites and under-represent high grade composites. The arithmetic extraction average of the 24 column tests is 76%] from 24 metallurgical column leach tests on Rangefront Zone oxide gold mineralization, showing that the Rangefront Zone comprises the most leach-amenable oxide material at Black Pine.

Key results include,

1: Gold extractions ranging from 54.1% to 95.8%.

2: >80% of leachable gold extracted within 10 days.

3: Announced an update to the independent mineral resource-the Black Pine Resource.

4: The new Black Pine Resource is reported using a constraining resource pit at a cut-off grade of 0.20 grams per tonne gold and consists of an indicated resource of 2,613,000 ounces of oxide gold at an average grade of 0.52 g/t Au and totalling 157,267,000 tonnes; and an inferred resource of 483,000 ounces of oxide gold at an average grade of 0.43 g/t Au and totalling 35,150,000 t.

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