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Gold Explorer Recaps Q1/20 Corporate Activities
News Update

Source:

Liberty Gold sold two assets and advanced its Idaho project.

Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) presented in a news release its corporate highlights from Q1/20.

The company pursued two transactions. One was the sale to Barrian Mining of its interest in the Kinsley Mountain gold deposit for total proceeds of $6.25 million and 9.9% of Barrian. Liberty Gold will receive the consideration in three tranches over two years.

The second was the sale to Ely Gold Royalties of Liberty Gold's 15% net profit interest in the Regent property in Nevada for a total consideration of $800,000 and 2 million warrants to purchase common Ely shares. The warrants, good until Dec. 18, 2021, are exercisable at CA$0.43 apiece.

During Q1/20, Liberty Gold continued exploration efforts at its Black Pine project in southern Idaho. It defined nine regional drill targets there and announced the start of a 2020 reverse circulation drill program that is fully funded.

The Vancouver-based explorer also requested an amendment to its plan of operations for Black Pine that increases the size of the permitted project area to 11.9 square kilometers from 7.3. Drilling will be done in the expanded area once approved. During Q1/20, the company also continued its metallurgical column testing.

It received CA$2.172 million and CA$325,000 since Jan. 1, 2020, from the early exercise of company common share purchase warrants that were issued with two 2018 bought deal financings. At the end of Q1/20, Liberty Gold had US$15.05 million in cash and short-term investments and US$12.208 million in working capital.

For the quarter, Liberty Gold posted a net loss of US$354,000 versus US$1.416 million a year earlier.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Liberty Gold and Ely Gold Royalties. Click here for important disclosures about sponsor fees.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Liberty Gold, a company mentioned in this article.




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