Liberty Gold Announces Advancement of the Mine Permitting Process for the Black Pine Oxide Gold Project, Idaho

Rhea-AI Summary

Liberty Gold Corp. has achieved three significant milestones in the permitting process for its Black Pine Oxide Gold project in Idaho. The company has executed a Memorandum of Understanding and a Cost Recovery Agreement with the U.S. Forest Service, and received approval for a third-party contractor for the NEPA process from both USFS and BLM. The Sawtooth National Forest will prepare an Environmental Impact Statement for the Black Pine Mine Project. These developments represent important steps toward project feasibility and potential construction, while ensuring compliance with environmental standards and stakeholder engagement.

Positive

• Formal advancement in mine permitting process with key regulatory agreements
• Selection and approval of NEPA third-party contractor by both federal agencies
• Establishment of clear framework for environmental review process

Negative

• Additional costs incurred through Cost Recovery Agreement for NEPA review
• Extended timeline required for environmental impact assessment and regulatory compliance

VANCOUVER, British Columbia, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the "Company") is pleased to announce the achievement of three important milestones in the permitting process for its flagship Black Pine Oxide Gold project (“Black Pine”) in southeast Idaho. Collaborative efforts with the U.S. Forest Service (“USFS”) have resulted in the recent execution of a Memorandum of Understanding (“MOU”) and a Cost Recovery Agreement. Additionally, the selection and approval of a third-party contractor for the National Environmental Policy Act (“NEPA”) process was also received from the USFS and Bureau of Land Management (“BLM”).

These accomplishments mark critical steps in the Company’s ongoing efforts to advance Black Pine towards feasibility and an eventual construction decision, while ensuring compliance with federal and state environmental standards and maintaining a collaborative engagement with stakeholders.

Matt Zietlow, Director, Regulatory Affairs and Sustainability, of Liberty Gold: “We are pleased to formalize our collaboration with the U.S. Forest Service and look forward to advancing the NEPA process with an experienced third-party contractor approved by both lead federal agencies. These developments underscore our commitment to working closely with federal regulators to ensure a thorough and transparent permitting process that meets the highest environmental and regulatory standards. Our progress in permitting brings us closer to unlocking the significant value of our flagship project and aligns with our commitment to environmental responsibility and stakeholder engagement.”

Highlights

The Sawtooth National Forest of the Forest Service, Department of Agriculture, is following NEPA regulations to prepare an environmental report, an Environmental Impact Statement (“EIS”), for a major federal action proposed by the Cooperator, specifically the Black Pine Mine Project.

The MOU formalizes a collaborative partnership between Liberty Gold and the USFS, establishing a cooperative framework for the project’s NEPA permitting pathway. This agreement sets forth clear objectives, roles, and responsibilities for both parties, and is designed to facilitate efficient project progression while upholding federal environmental stewardship standards.

In conjunction with the MOU, Liberty Gold has entered into a Cost Recovery Agreement with the USFS to cover the expenses associated with the NEPA review, EIS preparation, and related administrative support. The agreement reflects the Company’s commitment to advancing the permitting process efficiently and responsibly, supporting the necessary resources to achieve regulatory milestones on schedule.

The USFS and BLM as co-lead, in consultation with Liberty Gold, have now selected a qualified third-party NEPA contractor to complete the EIS for the project. This selection is a significant milestone and key step towards initiation of the NEPA permitting process. The contractor will work closely with the USFS, BLM, and Liberty Gold as the proponent, into performing a comprehensive analysis of potential environmental impacts for the project and ensuring public transparency and stakeholder engagement.

ABOUT LIBERTY GOLD

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

For more information, visit 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. 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 PFS, 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.

FAQ

What are the three milestones achieved by Liberty Gold (LGDTF) for Black Pine project permitting?

Liberty Gold achieved execution of a Memorandum of Understanding, a Cost Recovery Agreement with USFS, and approval of a third-party contractor for the NEPA process.

What is the purpose of the Environmental Impact Statement (EIS) for Liberty Gold's Black Pine project?

The EIS will provide a comprehensive analysis of potential environmental impacts for the Black Pine Mine Project, ensuring public transparency and stakeholder engagement.

Which federal agencies are involved in Liberty Gold's Black Pine project permitting process?

The U.S. Forest Service (USFS) and Bureau of Land Management (BLM) are the co-lead federal agencies involved in the permitting process.