# Liberty Gold Reports Q1 2026 Financial and Operating Results Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/liberty-gold-reports-q1-2026-financial-and-operating-results--ae7222df-2c40-421f-97c8-73ac2042db21 Original source: https://money.tmx.com/en/quote/LGD/news/8183381922532744/liberty-gold-reports-q1-2026-financial-and-operating-results Publisher: tmx Original announcement: 2026-05-11T21:05:04.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Liberty Gold Corp. - Ticker: LGD - Exchange: TSX - Region: Idaho - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Agreement transaction, Other, Drill results - Extracted: 2026-09-18 06:44:51 UTC Narrative sentiment: -0.20 · Bearish ## Minestarters Atlas summary Liberty Gold reported Q1 2026 results featuring an updated Mineral Resource Estimate for the Black Pine project, which includes 502.7 Mt of Indicated Resource at 0.30 g/t Au. The company also announced the closure of the Goldstrike and Gage asset transactions. Financially, the company reported a quarterly loss of $6.0 million, compared to $2.7 million in Q1 2025. Reasoning: The report contains significant material updates including a new Mineral Resource Estimate for Black Pine and the closure of two asset transactions, despite a widening quarterly net loss. - Positive factor: Significant resource growth at Black Pine - Positive factor: Closure of Goldstrike and Gage transactions providing cash/royalties - Positive factor: FAST-41 permitting progress - Negative factor: Increased quarterly loss compared to prior year - Negative factor: Decrease in cash and short-term investments Facts used in scoring: 6 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document reports an updated 2026 Mineral Resource Estimate for the Black Pine project. Evidence · text > we announced an update to the independent Mineral Resource Estimate \(the “ 2026 MRE ”\) for Black Pine **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the reported resource is in the Inferred category. Evidence · text > Inferred Resource of 157.1 Mt at an average grade of 0.21 g/t Au **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: The MRE was conducted by SLR Consulting Ltd. Evidence · text > conducted by SLR Consulting Ltd. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Drill Results (2) ### LBP1197 [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-reports-q1-2026-financial-and-operating-results--ae7222df-2c40-421f-97c8-73ac2042db21#fact-drill-facts-4) Black Pine · gold #### Identity - Hole ID: LBP1197 - Project: Black Pine - Commodity: gold - Region: usa\_id - Reported Region: usa\_id - Ticker: LGD #### Geometry - Grade: 0.86 - Grade Unit: g/t - Intercept: 123.4 m #### Classification - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-05-11T00:00:00.000Z Reasoning: Long intercept with decent grade. - Positive factor: Significant width Evidence · text > LBP1197 returning 0.86 g/t Au over 123.4 meters #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### LBP1197 [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-reports-q1-2026-financial-and-operating-results--ae7222df-2c40-421f-97c8-73ac2042db21#fact-drill-facts-5) Black Pine · gold #### Identity - Hole ID: LBP1197 - Project: Black Pine - Commodity: gold - Region: usa\_id - Reported Region: usa\_id - Ticker: LGD #### Geometry - Grade: 2.45 - Grade Unit: g/t - Intercept: 24.4 m #### Classification - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-05-11T00:00:00.000Z Reasoning: Strong grade within the larger intercept. - Positive factor: High-grade interval Evidence · text > including 2.45 g/t Au over 24.4 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (4) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/liberty-gold-reports-q1-2026-financial-and-operating-results--ae7222df-2c40-421f-97c8-73ac2042db21#fact-resource-facts-0) Black Pine · gold #### Identity - Project: Black Pine - Commodity: gold - Region: usa\_id - Reported Region: Idaho - Ticker: LGD #### Resource scope - Estimate type: resource - Effective date: 2026-02-10T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:25ca5d6c1b640fd534de - Deposit or zone: Black Pine - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 502700000 - Grade: 0.3 - Grade Unit: g/t - Contained Metal: 4882000 - Contained Unit: oz - Cutoff Grade: 0.1 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-02-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-11T00:00:00.000Z Reasoning: Significant indicated resource volume reported. - Positive factor: Large tonnage indicated resource Evidence · text > Indicated Resource of 502.7 million tonnes \(“ Mt ”\) at an average grade of 0.30 g/t Au totalling 4,882,000 ounces \(“ oz ”\) Au #### 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 **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 **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **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-reports-q1-2026-financial-and-operating-results--ae7222df-2c40-421f-97c8-73ac2042db21#fact-resource-facts-1) Black Pine · gold #### Identity - Project: Black Pine - Commodity: gold - Region: usa\_id - Reported Region: Idaho - Ticker: LGD #### Resource scope - Estimate type: resource - Effective date: 2026-02-10T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:5eef7e818629e97e2190 - Deposit or zone: Black Pine - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 157100000 - Grade: 0.21 - Grade Unit: g/t - Contained Metal: 1050000 - Contained Unit: oz - Cutoff Grade: 0.1 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-02-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-11T00:00:00.000Z Reasoning: Standard inferred resource component. - Positive factor: Adds to total resource scale - Negative factor: Lower confidence category Evidence · text > Inferred Resource of 157.1 Mt at an average grade of 0.21 g/t Au totalling 1,050,000 oz Au #### 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 **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 **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **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-reports-q1-2026-financial-and-operating-results--ae7222df-2c40-421f-97c8-73ac2042db21#fact-resource-facts-2) Black Pine · gold #### Identity - Project: Black Pine - Commodity: gold - Region: usa\_id - Reported Region: Idaho - Ticker: LGD #### Resource scope - Estimate type: resource - Effective date: 2026-02-10T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:03331f37a2d56bc11e34 - Deposit or zone: Black Pine \(high-grade subset\) - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 60100000 - Grade: 0.99 - Grade Unit: g/t - Contained Metal: 1907000 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-02-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-11T00:00:00.000Z Reasoning: Stronger grade profile within the resource. - Positive factor: High-grade subset identified Evidence · text > Indicated Resource of 60.1 Mt at an average grade of 0.99 g/t Au totalling 1,907,000 oz Au #### 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 **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 **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **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-reports-q1-2026-financial-and-operating-results--ae7222df-2c40-421f-97c8-73ac2042db21#fact-resource-facts-3) Black Pine · gold #### Identity - Project: Black Pine - Commodity: gold - Region: usa\_id - Reported Region: Idaho - Ticker: LGD #### Resource scope - Estimate type: resource - Effective date: 2026-02-10T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:d1c81e2ff4803c23fadc - Deposit or zone: Black Pine \(high-grade subset\) - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6400000 - Grade: 0.74 - Grade Unit: g/t - Contained Metal: 152000 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-02-10 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-11T00:00:00.000Z Reasoning: Inferred high-grade component. - Positive factor: High-grade subset identified Evidence · text > Inferred Resource of 6.4 Mt at an average grade of 0.74 g/t Au totalling 152,000 oz Au #### 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 **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 **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **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 ## 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.