# Liberty Gold Announces Black Pine Feasibility Study with US$2.4 Billion NPV\(5%\) and 60% IRR at $3,250/oz Au \(after-tax\) Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1 Original source: https://www.globenewswire.com/news-release/2026/09/08/3357431/0/en/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-and-60-irr-at-3-250-oz-au-after-tax.html Publisher: globenewswire Original announcement: 2026-09-08T10:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Liberty Gold Corp. - Ticker: LGD - Exchange: Unavailable - Region: southern Idaho, USA - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Resource update, Metallurgy - Extracted: 2026-09-12 00:52:20 UTC Narrative sentiment: 1.00 · Bullish ## Minestarters Atlas summary Liberty Gold announced a Feasibility Study for its Black Pine Oxide Gold Project in Idaho, USA, outlining robust economics with an after-tax NPV\(5%\) of US$2.4 billion and an IRR of 60.5% at a base case gold price of US$3,250/oz. The study projects a 16-year mine life, supported by a 4.04 million ounce Probable Gold Reserve, and estimates average annual payable gold production of 176,700 ounces at an AISC of US$1,566/oz. The project, a large-scale, open-pit, run-of-mine heap leach operation, requires an initial capital of US$411.4 million and is advancing through permitting towards a potential construction decision. Reasoning: The Feasibility Study confirms the Black Pine project as a large-scale, long-life oxide gold operation with strong economic returns, a substantial Probable Mineral Reserve, and a clear, technically straightforward development path, significantly de-risking the project towards a construction decision. - Positive factor: Robust economics with high NPV and IRR at base case gold price - Positive factor: Large Probable Mineral Reserve supporting a long mine life - Positive factor: Competitive operating costs and manageable initial capital - Positive factor: Technically straightforward open-pit, ROM heap leach operation - Positive factor: High gold recovery for the processing route - Positive factor: NI 43-101 compliant study with multiple Qualified Persons - Negative factor: Silver not included in mineral reserves or production profile Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 32 ## Classification and evidence **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: The document is a Feasibility Study, which is the highest level of study to support a development decision. Evidence · text > Liberty Gold Announces Black Pine Feasibility Study **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Feasibility Study and associated estimates were prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects \(“NI 43-101”\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Multiple Qualified Persons are named and responsible for different sections of the Feasibility Study and estimates. Evidence · text > Todd Carstensen RM-SME, Principal Mining Engineer at AGP Mining Consultants Inc., Barrie ON, Canada \(AGP\) and has an effective date of August 1, 2026. Mr. Carstensen is the Qualified Person responsible as defined under NI 43-101 for the Mineral Reserve estimate **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The study establishes a 4.04 million oz Au Probable Mineral Reserve. Evidence · text > 4.04 million oz Au Probable Mineral Reserve **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The Mineral Resource estimate includes 521.7 million tonnes of Indicated Mineral Resources. Evidence · text > Indicated Mineral Resources total 521.7 million tonnes **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The Feasibility Study includes updated Mineral Resource and Mineral Reserve estimates. Evidence · text > incorporates updated Mineral Resource and Mineral Reserve estimates **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: The project is designed as a run-of-mine heap leach operation. Evidence · text > open-pit, run-of-mine \(“ROM”\) heap-leach operation **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The average gold recovery of 70.2% is strong for a heap leach operation, falling between the strong and exceptional bands for this processing route. Evidence · table > 70.2% Context: Average Gold Recovery **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: Extensive metallurgical testwork has been completed since 2019 using bulk samples and large-diameter PQ core, indicative of pilot-scale or advanced testwork. Evidence · text > extensive metallurgical testwork, including eight metallurgical programs completed since 2019 using bulk samples and large-diameter PQ core **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: The operation requires no ore crushing, screening or agglomeration, indicating free-milling characteristics. Evidence · text > requiring no ore crushing, screening or agglomeration ## Extracted facts Stored fact records: 32. Some facts used in scoring do not have a stored record. ## Resource Estimates (31) ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-0) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Todd Carstensen, RM-SME - Resource group id: resource:e523ab30de3e0d1a65f1 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 433300000 - Grade: 0.29 - Grade Unit: g/t - Contained Metal: 4.04 - Contained Unit: moz - Cutoff Grade: 0.05 - Cutoff Unit: g/t Au recoverable gold #### Prior Estimate - Resource Date: 2026-08-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Probable Mineral Reserve of 4.04 million ounces of gold at 0.29 g/t Au provides a strong foundation for the project's 16-year mine life, demonstrating significant scale and economic viability. - Positive factor: Large Probable Reserve supports long mine life - Positive factor: NI 43-101 compliant with QP sign-off - Positive factor: Low cut-off grade indicates bulk tonnage potential Evidence · table > 433.3 Context: Probable #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-1) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:dcde0be21906612898b8 - Deposit or zone: CD - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 37614000 - Grade: 0.28 - Grade Unit: g/t - Contained Metal: 336 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: This Indicated resource for the CD zone contributes to the overall project confidence and scale, supporting the Feasibility Study. - Positive factor: Indicated category provides good confidence - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 37,614 Context: CD #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-2) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:f4c18c79242795f507d2 - Deposit or zone: CD - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12223000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 80 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred resource for the CD zone provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 12,223 Context: CD #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-3) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:b7624085ae74f7cef3a2 - Deposit or zone: Discovery - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 188399000 - Grade: 0.35 - Grade Unit: g/t - Contained Metal: 2097 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Discovery zone represents a major component of the Indicated resource, contributing substantially to the project's overall scale and economic potential with a higher average grade. - Positive factor: Significant Indicated resource tonnage and contained gold - Positive factor: Higher grade than overall LOM average - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 188,399 Context: Discovery #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-4) Black Pine Oxide Gold Project · silver #### Identity - Project: Black Pine Oxide Gold Project - Commodity: silver - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:b7624085ae74f7cef3a2 - Deposit or zone: Discovery - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 188399000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 8147 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Discovery zone contains a substantial Indicated silver resource, adding byproduct potential to the gold project, although silver is not included in the current reserve. - Positive factor: Significant contained silver as a byproduct - Positive factor: Indicated category provides good confidence Evidence · table > 1.4 Context: Discovery #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-5) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:2c82edd7a693d52b6445 - Deposit or zone: Discovery - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 27503000 - Grade: 0.19 - Grade Unit: g/t - Contained Metal: 169 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred resource for the Discovery zone provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 27,503 Context: Discovery #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-6) Black Pine Oxide Gold Project · silver #### Identity - Project: Black Pine Oxide Gold Project - Commodity: silver - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:2c82edd7a693d52b6445 - Deposit or zone: Discovery - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 27503000 - Grade: 1 - Grade Unit: g/t - Contained Metal: 912 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred silver resource for the Discovery zone adds to the overall byproduct potential but requires further work to increase confidence. - Positive factor: Adds to overall contained silver - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 1.0 Context: Discovery #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-7) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:a81c353fa29e63870b62 - Deposit or zone: E Pit - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9657000 - Grade: 0.26 - Grade Unit: g/t - Contained Metal: 82 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: This Indicated resource for the E Pit zone contributes to the overall project confidence and scale, supporting the Feasibility Study. - Positive factor: Indicated category provides good confidence - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 9,657 Context: E Pit #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-8) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:ed04f66b90080c0c3538 - Deposit or zone: E Pit - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 11825000 - Grade: 0.22 - Grade Unit: g/t - Contained Metal: 82 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred resource for the E Pit zone provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 11,825 Context: E Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-9) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:931e377be0b8d45c72ad - Deposit or zone: F - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6543000 - Grade: 0.32 - Grade Unit: g/t - Contained Metal: 66 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: This Indicated resource for the F zone contributes to the overall project confidence and scale, supporting the Feasibility Study. - Positive factor: Indicated category provides good confidence - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 6,543 Context: F #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-10) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:5cef833b79af4e65319f - Deposit or zone: F - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1217000 - Grade: 0.24 - Grade Unit: g/t - Contained Metal: 10 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred resource for the F zone provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 1,217 Context: F #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-11) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:514f8f06e7154943b91f - Deposit or zone: J Zone - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 3601000 - Grade: 0.33 - Grade Unit: g/t - Contained Metal: 38 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: This Indicated resource for the J Zone contributes to the overall project confidence and scale, supporting the Feasibility Study. - Positive factor: Indicated category provides good confidence - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 3,601 Context: J Zone #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-12) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:8c3de46a6d69cd724aab - Deposit or zone: J Zone - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12731000 - Grade: 0.25 - Grade Unit: g/t - Contained Metal: 104 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred resource for the J Zone provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 12,731 Context: J Zone #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-13) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:193f627492c3c6f7e680 - Deposit or zone: M Zone - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7324000 - Grade: 0.51 - Grade Unit: g/t - Contained Metal: 120 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The M Zone Indicated resource shows a higher gold grade, contributing valuable ounces to the project with good confidence. - Positive factor: Higher grade than overall average - Positive factor: Indicated category provides good confidence - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 7,324 Context: M Zone #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-14) Black Pine Oxide Gold Project · silver #### Identity - Project: Black Pine Oxide Gold Project - Commodity: silver - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:193f627492c3c6f7e680 - Deposit or zone: M Zone - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7324000 - Grade: 2.6 - Grade Unit: g/t - Contained Metal: 606 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The M Zone contains a substantial Indicated silver resource, adding byproduct potential to the gold project, although silver is not included in the current reserve. - Positive factor: Significant contained silver as a byproduct - Positive factor: Indicated category provides good confidence Evidence · table > 2.6 Context: M Zone #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-15) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:e11b1f82a6fbf4854cf2 - Deposit or zone: M Zone - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5406000 - Grade: 0.21 - Grade Unit: g/t - Contained Metal: 36 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred resource for the M Zone provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 5,406 Context: M Zone #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-16) Black Pine Oxide Gold Project · silver #### Identity - Project: Black Pine Oxide Gold Project - Commodity: silver - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:e11b1f82a6fbf4854cf2 - Deposit or zone: M Zone - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5406000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 217 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred silver resource for the M Zone adds to the overall byproduct potential but requires further work to increase confidence. - Positive factor: Adds to overall contained silver - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 1.3 Context: M Zone #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-17) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:f2d30fa07cdd11d5cfe0 - Deposit or zone: Rangefront - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 237679000 - Grade: 0.26 - Grade Unit: g/t - Contained Metal: 1998 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Rangefront zone represents the largest component of the Indicated resource, significantly contributing to the project's overall scale and economic potential. - Positive factor: Largest Indicated resource tonnage and contained gold - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 237,679 Context: Rangefront #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-18) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:e6919f15d2031135ba82 - Deposit or zone: Rangefront - Mining method: open\_pit - Material type: In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 59787000 - Grade: 0.19 - Grade Unit: g/t - Contained Metal: 371 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred resource for the Rangefront zone provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 59,787 Context: Rangefront #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-19) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:796915924b300dd939ec - Deposit or zone: Total In-Situ - Mining method: open\_pit - Material type: Total In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 490816000 - Grade: 0.3 - Grade Unit: g/t - Contained Metal: 4737 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The total In-Situ Indicated resource represents a very substantial and high-confidence gold inventory for the project. - Positive factor: Very large Indicated resource base - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 490,816 Context: Total In-Situ #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-20) Black Pine Oxide Gold Project · silver #### Identity - Project: Black Pine Oxide Gold Project - Commodity: silver - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:796915924b300dd939ec - Deposit or zone: Total In-Situ - Mining method: open\_pit - Material type: Total In-Situ - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 490816000 - Contained Metal: 8754 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The total In-Situ Indicated silver resource adds significant byproduct potential, although the average grade is not explicitly stated for this total. - Positive factor: Significant total contained silver as a byproduct - Positive factor: Indicated category provides good confidence - Negative factor: Grade not reported for total In-Situ silver Evidence · table > 8,754 Context: Total In-Situ #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-21) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:96fe336d87a1c962f721 - Deposit or zone: Total In-Situ - Mining method: open\_pit - Material type: Total In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 130691000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 851 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The total In-Situ Inferred resource provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 130,691 Context: Total In-Situ #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-22) Black Pine Oxide Gold Project · silver #### Identity - Project: Black Pine Oxide Gold Project - Commodity: silver - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:96fe336d87a1c962f721 - Deposit or zone: Total In-Situ - Mining method: open\_pit - Material type: Total In-Situ - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 130691000 - Contained Metal: 1133 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The total In-Situ Inferred silver resource adds byproduct potential but requires further work to increase confidence, and its average grade is not explicitly stated. - Positive factor: Adds to overall contained silver - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence - Negative factor: Grade not reported for total In-Situ silver Evidence · table > 1,133 Context: Total In-Situ #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-23) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:0d62bd747d12caec8b36 - Deposit or zone: Backfill and Waste Dumps - Mining method: open\_pit - Material type: Backfill and Waste Dumps - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 0 - Contained Metal: 0 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: This entry indicates no Indicated gold resource in backfill and waste dumps, which is a neutral finding. - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: No contained gold in this category Evidence · table > 0 Context: Backfill and Waste Dumps #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-24) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:eaf7b59952cc1c4ca48a - Deposit or zone: Backfill and Waste Dumps - Mining method: open\_pit - Material type: Backfill and Waste Dumps - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 18144000 - Grade: 0.25 - Grade Unit: g/t - Contained Metal: 145 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Inferred resource in backfill and waste dumps provides additional potential from previously disturbed material, but with lower confidence. - Positive factor: Adds to overall resource base from waste material - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 18,144 Context: Backfill and Waste Dumps #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-25) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:5baff89b7099510d054f - Deposit or zone: Legacy Heap Leach Facility - Mining method: open\_pit - Material type: Legacy Heap Leach Facility - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 30844000 - Grade: 0.19 - Grade Unit: g/t - Contained Metal: 190 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The Indicated resource from the Legacy Heap Leach Facility adds to the project's inventory, indicating potential to re-process existing material with good confidence. - Positive factor: Indicated resource from existing leach facility - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 30,844 Context: Legacy Heap Leach Facility #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-26) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:d9336772674436b31517 - Deposit or zone: Legacy Heap Leach Facility - Mining method: open\_pit - Material type: Legacy Heap Leach Facility - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 0 - Contained Metal: 0 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: This entry indicates no Inferred gold resource in the Legacy Heap Leach Facility, which is a neutral finding. - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: No contained gold in this category Evidence · table > 0 Context: Legacy Heap Leach Facility #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-27) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:a51414e08d1011fb116c - Deposit or zone: Total - Mining method: open\_pit - Material type: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 521660000 - Grade: 0.29 - Grade Unit: g/t - Contained Metal: 4927 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The total Indicated resource of 4.93 million ounces of gold at 0.29 g/t Au provides a robust and high-confidence resource base for the project. - Positive factor: Very large total Indicated resource - Positive factor: NI 43-101 compliant with QP sign-off Evidence · table > 521,660 Context: Total #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-28) Black Pine Oxide Gold Project · silver #### Identity - Project: Black Pine Oxide Gold Project - Commodity: silver - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:a51414e08d1011fb116c - Deposit or zone: Total - Mining method: open\_pit - Material type: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 521660000 - Contained Metal: 8754 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The total Indicated silver resource adds significant byproduct potential, although the average grade is not explicitly stated for this total. - Positive factor: Significant total contained silver as a byproduct - Positive factor: Indicated category provides good confidence - Negative factor: Grade not reported for total silver Evidence · table > 8,754 Context: Total #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-29) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:dce0d7205f1ce5fe5f50 - Deposit or zone: Total - Mining method: open\_pit - Material type: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 148835000 - Grade: 0.21 - Grade Unit: g/t - Contained Metal: 996 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The total Inferred resource provides additional exploration upside but requires further drilling to upgrade confidence for economic studies. - Positive factor: Adds to overall resource base - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence Evidence · table > 148,835 Context: Total #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-resource-facts-30) Black Pine Oxide Gold Project · silver #### Identity - Project: Black Pine Oxide Gold Project - Commodity: silver - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Valerie Wilson, P.Geo., Don Hulse, RM-SME - Resource group id: resource:dce0d7205f1ce5fe5f50 - Deposit or zone: Total - Mining method: open\_pit - Material type: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 148835000 - Contained Metal: 1133 - Contained Unit: koz - Cutoff Grade: 0.1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The total Inferred silver resource adds byproduct potential but requires further work to increase confidence, and its average grade is not explicitly stated. - Positive factor: Adds to overall contained silver - Positive factor: NI 43-101 compliant with QP sign-off - Negative factor: Inferred category has lower geological confidence - Negative factor: Grade not reported for total silver Evidence · table > 1,133 Context: Total #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (1) ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-announces-black-pine-feasibility-study-with-us-2-4-billion-npv-5-an--0ffc03ae-156c-491a-bb42-760a48e471f1#fact-metallurgical-facts-31) Black Pine Oxide Gold Project · gold #### Identity - Project: Black Pine Oxide Gold Project - Commodity: gold - Region: usa\_id - Reported Region: southern Idaho, USA - Ticker: LGD #### Test Work - Program Status: detailed - Test Type: heap leach - Processing Route: ROM heap leaching with no crushing, screening or agglomeration #### Recovery - Recovery: 70.2 % - Recovery Basis: actual\_test #### Lab - Laboratory: Kappes, Cassiday & Associates - Consultant: GL Simmons Consulting LLC #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-08T00:00:00.000Z Reasoning: The average gold recovery of 70.2% for the ROM heap leach operation is strong for this processing route, supported by extensive metallurgical testwork, confirming the technical viability of the project. - Positive factor: High recovery for heap leach operation - Positive factor: Extensive testwork completed using bulk samples and large-diameter core - Positive factor: Technically straightforward process with no crushing or agglomeration Evidence · table > 70.2% Context: Average Gold Recovery #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.