VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce it has signed a share purchase agreement (the “Agreement”) for the sale of its interest in the TV Tower copper gold project (“TV Tower” or the “Project”), located in Biga Province, northwest Türkiye, to a foreign mining company.

Pursuant to the terms of the Agreement, Liberty Gold has agreed to sell its 72.1% interest in the company that holds the Project for gross proceeds to the Company of US$8.3 million in cash, to be paid in three stages over a two-year period (the “Transaction”).

Cal Everett, CEO and Director of Liberty Gold commented, “The sale of TV Tower strengthens Liberty Gold’s treasury position without diluting shareholder’s exposure to our flagship Black Pine project in Southern Idaho while also removing annual carrying costs related to the project. Liberty Gold will now be 100% Great Basin focused advancing two Carlin-style gold deposits.”

TERMS OF THE AGREEMENT:

Closing of the Transaction is subject to customary conditions including the approval of the local mining authorities.

Liberty Gold’s share of the US$11.5 million in gross proceeds (US$8.3 million) will be paid in three stages as follows:

US$3.6 million on the closing date.
US$2.2 million on the first anniversary of the closing date.

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