Liberty Gold starts feasibility study work at BP

Executive Summary

• Liberty Gold Corp. has formally commenced the Feasibility Study (FS) engineering phase for its Black Pine oxide gold project in southeastern Idaho, following the completion of the Preliminary Feasibility Study (PFS) in October 2024.
• The company has assembled a specialized engineering consortium led by M3 Engineering & Technology Corp., retaining key consultants from the previous PFS phase to ensure technical continuity, schedule efficiency, and regulatory rigor.
• Liberty Gold targets the delivery of the feasibility study in early Q4 2026, aiming to move the project toward construction readiness.

Key Details

• Project Phase: Commencement of Feasibility Study (FS) engineering for the Black Pine oxide gold project.
• Lead Consultant: M3 Engineering & Technology Corp. (M3) re-engaged as lead FS consultant for overall project coordination, processing plant design, and site infrastructure.
• Consulting Team & Scope:
  • SLR Consulting Ltd.: Mineral resource.
  • AGP Mining Consultants Inc.: Mine engineering, open pit optimization and design, and mineral reserve.
  • Knight Piesold Ltd.: Pit geotechnical analysis and design recommendations.
  • Forte Dynamics Inc.: Heap leach modelling and process optimization.
  • NewFields Inc.: Heap leach facility and infrastructure design.
  • Piteau Associates Ltd.: Hydrology and hydrogeology.
• Regulatory Compliance: All disciplines overseen by Qualified Persons under National Instrument 43-101 who contributed to the Black Pine PFS.
• Timeline: Feasibility study expected to be delivered in early Q4 2026.
• Strategic Rationale: Retention of the same technical team from the PFS is intended to preserve detailed project knowledge, strengthen schedule efficiency, and minimize rework between study phases.

Notable Quotes

• Jon Gilligan, President and CEO, Liberty Gold: "We are excited to move into the feasibility engineering phase for Black Pine... With a strong technical foundation, a highly experienced and capable in-house owner's team and a solid funding position, Liberty Gold is well positioned to deliver the feasibility study in early Q4 2026 and move decisively toward construction readiness."
• Alberto Bennett, CEO, M3 Engineering: "This study represents an important step in demonstrating the potential of a significant project at Black Pine, and we're proud to contribute our technical expertise to its development."