Liberty Gold Advances Black Pine Gold Project in Idaho with Submission of the Draft Mine Plan of Operations

Rhea-AI Summary

Liberty Gold Corp (TSX:LGD; OTCQX:LGDTF) has achieved two major milestones for its Black Pine Oxide Gold Project in Idaho. The company has submitted the draft Mine Plan of Operations (MPO) to various regulatory authorities and executed an interagency Memorandum of Understanding (MOU) to coordinate the mine permitting process.

The draft MPO, based on the recently published Preliminary Feasibility Study from October and November 2024, will initiate the federal permitting process under NEPA, including an Environmental Impact Statement (EIS). Stantec has been appointed as the independent third-party EIS contractor.

The MOU establishes a clear roadmap with timelines for the NEPA permitting process, aiming for a potential construction decision within 3 years. The project will also participate in Idaho Governor Brad Little's Executive Order 2025-02, the Strategic Permitting, Efficiency, and Economic Development (SPEED) Act.

Positive

• Project advancing towards construction decision within 3 years
• Successful execution of MOU streamlining permitting process
• Support from Idaho government through SPEED Act
• Independent third-party contractor (Stantec) secured for EIS

Negative

• Extended permitting process still required
• Multiple regulatory approvals needed before construction

VANCOUVER, British Columbia, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the "Company") is pleased to announce two major milestones for its flagship Black Pine Oxide Gold Project (“Black Pine”) in southern Idaho, USA. Firstly, the formal submission of the draft Black Pine Mine Plan of Operations (“MPO”) to the United States Forest Service (“USFS”), the Bureau of Land Management (“BLM”), the Idaho Department of Environmental Quality (“IDEQ”), and the Idaho Department of Lands (“IDL”); and secondly, the successful execution of an interagency Memorandum of Understanding (“MOU”) between Liberty Gold, USFS, BLM, the Idaho Governor’s Office of Energy and Mineral Resources (“OEMR”), the IDEQ, and the IDL, to facilitate coordination of the entire mine permitting process for Black Pine.

The draft MPO is based on the recently published Preliminary Feasibility Study (see press releases dated October 10, 2024 and November 21, 2024) with a general site layout shown in Figure 1 below.

Figure 1: Black Pine Draft Mine Plan of Operations General Site Layout

Liberty Gold has worked closely with regulatory authorities, stakeholders, and the local community to ensure the draft MPO adheres to the highest environmental and operational standards and anticipates continued engagement with stakeholders to address feedback and advance the project through the permitting and approval process. The draft MPO submission is the precursor leading to initiation of the federal permitting process under the National Environmental Protection Act (“NEPA”), which will include the completion of an Environmental Impact Statement (“EIS”).

The EIS process will be co-led by the USFS and the BLM and will include a detailed review of the MPO, public scoping meetings, analysis of extensive baseline studies, and an assessment of potential environmental and socioeconomic effects with proposed mitigations. Cooperating regulatory agencies, including OEMR, IDEQ, IDL and other federal and state entities, will work closely with the USFS and BLM on the MPO review and the resulting EIS process. Stantec, a global leader in sustainable engineering, architecture, and environmental consulting, has been retained as the independent third-party EIS contractor and will work under the direction of the USFS to prepare the Black Pine EIS and related documentation. This action represents a major step advancing Black Pine towards a construction decision.

Execution of the interagency Memorandum of Understanding formalizes a collaborative partnership between Liberty Gold, and various cooperating agencies for completion of the EIS. The MOU establishes a clear roadmap with timelines for the NEPA permitting process and defines the roles, responsibilities, and objectives of all parties to ensure efficient project progression while upholding federal environmental standards, assuring stakeholder engagement, including comprehensive reclamation and closure planning and all related permitting requirements.

Jon Gilligan, President and Chief Operating Officer of Liberty Gold stated: “Submission of the draft Mine Plan of Operations and completion of the interagency MOU formalizing a strong, collaborative partnership with federal and state cooperating agencies, reflects our deep commitment to responsible resource development, project transparency and environmental stewardship.

“We are establishing a strong foundation for advancing Black Pine through the permitting process to a potential construction decision within 3 years, ensuring the project meets the highest environmental and operating standards. We look forward to working closely with the regulatory agencies and community stakeholders over the coming period to complete the Environmental Impact Statement and concurrently build the team that will deliver on Black Pine’s full potential.  

“We also would like to commend Idaho Governor Brad Little for his Executive Order 2025-02, the Strategic Permitting, Efficiency, and Economic Development (“SPEED”) Act, which will improve coordination among state agencies, reduce permitting delays, and drive forward projects that promote energy independence, national security, and economic growth. Liberty Gold looks forward to our Black Pine Mine being an active part of the SPEED Act process in the coming months.”

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance significant gold deposits that can be mined sustainably and profitably in open-pit scenarios.

For more information, visit www.libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
info@libertygold.ca 

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Black Pine, expected gold and silver recoveries from the Black Pine mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the timing and receipt of necessary permitting and approval of the final mine plan of operations. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources and mineral reserves, the availability of drill rigs, the accuracy of the preliminary feasibility study, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8b55e044-e1e3-42e0-9020-e16eee541667

FAQ

What is the timeline for Liberty Gold's Black Pine project construction decision?

Liberty Gold (LGDTF) aims to reach a potential construction decision within 3 years through the NEPA permitting process.

What major milestones did Liberty Gold (LGDTF) achieve for the Black Pine project?

Liberty Gold submitted the draft Mine Plan of Operations and executed an interagency Memorandum of Understanding for coordinating the mine permitting process.

Who will prepare the Environmental Impact Statement for Liberty Gold's Black Pine project?

Stantec, a global leader in sustainable engineering and environmental consulting, will prepare the EIS as an independent third-party contractor.

How will Idaho's SPEED Act affect Liberty Gold's Black Pine project?

The SPEED Act will improve coordination among state agencies and reduce permitting delays for the Black Pine project's development.