Liberty Gold Closes TV Tower Sale Transaction
October 07 2024 - 6:00AM
Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the
“Company”) is pleased to announce it has closed the previously
announced sale of its interest in the TV Tower copper gold project
(“TV Tower” or the “Project”), located in Biga Province, northwest
Türkiye (see press release dated April 17, 2024) and has received
US$3.7 million representing the Company’s share of the payment due
upon closing. There is no share dilution associated with this asset
sale.
Liberty Gold’s share of the remainder of the
gross proceeds will be paid in two stages as follows:
-
US$2.2 million on October 4, 2025.
- US$2.6
million on October 4, 2026.
Cal Everett, CEO and Director of Liberty
Gold commented, “The closing of the TV Tower transaction
has completed the monetization process of all of Liberty Gold’s
Turkish assets and removes the approximate one million dollar
annual funding draw. It enables the Company to focus solely on
advancing its projects in the Great Basin. The Company is nearing
completion of a Pre-Feasibility study of the Black Pine Oxide Gold
Project in Idaho.”
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and
developing open pit oxide deposits in 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.
For more information, visit libertygold.ca or
contact:
Susie Bell, Manager, Investor Relations Phone:
604-632-4677 or Toll Free 1-877-632-4677 info@libertygold.ca
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 but not limited to; the payment of
future staged proceeds of the Transaction, the exploration and
development of open pit oxide deposits in the Great Basin, and the
discovery and advancement of gold deposits in the Great Basin.
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", 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, the availability of drill rigs, successful resolution of
disputes and anticipated costs and expenditures. Many assumptions
are based on factors and events that are not within the control of
Liberty Gold and there is no assurance they will prove to be
correct.
Such forward-looking information, involves known
and unknown risks, which may cause the actual results to be
materially different from any future results expressed or implied
by such forward-looking information, including, risks related to
the interpretation of results and/or the reliance on technical
information provided by third parties as related to the Company’s
mineral property interests; changes in project parameters as plans
continue to be refined; current economic conditions; future prices
of commodities; possible variations in grade or recovery rates; the
costs and timing of the development of new deposits; failure of
equipment or processes to operate as anticipated; the failure of
contracted parties to perform; the timing and success of
exploration activities generally; the timing of the publication of
any updated resources; 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 well as those factors discussed in
the Annual Information Form of the Company dated March 28, 2024 in
the section entitled "Risk Factors", under Liberty Gold’s SEDAR+
profile at www.sedarplus.ca.
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.
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