Liberty Gold Corp. Announces Visible Gold Sample Results For Arizona-Based Domestic Portfolio

PHOENIX, Aug. 21, 2102 /PRNewswire/ -- Liberty Gold Corp. (OTCBB: LBGO; "Liberty Gold" and/or "the Company") is pleased to announce positive results following initial sampling and processing for visible gold on the Company's Domestic Portfolio. The Company has a 100% interest in the 794-acre Domestic Portfolio mining operations claim block, situated in the Cerbat Mountain range, roughly 75 miles southeast of Las Vegas and 15 miles northwest of Kingman in northwestern Arizona's Wallapai Mining District.

Initial samples were collected from 5 different locations within the Domestic Portfolio holdings to determine whether, once processed, visible gold was present at 3 different screen sizes: 100 minus, 50 minus and 25 minus. Samples from each of the 5 different locations resulted in the detection of visible metallics while 1 of the locations resulted in the detection of visible metallics and gold, as outlined in the table below.

Photos of the visible gold and metallics can be viewed on Liberty Gold's website at http://www.libertygoldcorp.com/gallery/visible-gold

Liberty Gold will now apply the same sampling and processing approach on a bulk sampling scale, which will involve:

• collecting at least 2 separate 200-pound samples from each location;
• transporting the samples to the test mill in Ione, California;
• weighing and then processing the samples (jaw crusher; twin set of rolls and impact mill; pre-screening for oversize material; taking head ore sample; drum screener that screens to 3 sizes: 100 minus, 50 minus, and 25 minus); weighing screened material;
• each size of screened material is separately run through a wind tunnel for concentrating and then concentrates are collected;
• head ore and concentrates are weighed, packaged and labeled from 100 minus, 50 minus and 25 minus for lab analysis.

The Company will be provided with a formal report that will include the weights described, including baghouse dust and all concentrate weights. Assays will be taken of all samples, with concentrate weights, including the baghouse. Fire assays will be performed on gold and silver while a spectrographic x-ray will be performed on all other elements (e.g., indium, gallium, copper, lead, lithium, zinc and rare earth metals). Sealed samples will be sent to ALS Chemex or Reed Labs for testing. Bulk sampling and processing will begin with 4 ore piles and ore from the Shooting Star location or the wire gold vein.

"We're encouraged to literally see mineralization in these initial samples from our Domestic Portfolio," said Lynn Harrison, Liberty Gold's President and CEO. "Now we can proceed with sampling on a greater scale together with lab analysis results that will help assess the Domestic Portfolio's mineral potential."

The Domestic Portfolio consists of 40 individual projects. According to a January 18, 2010 report on 8 of the mining claims alone,[1] estimated resources total ~2.48 million gold equivalent ounces.[2] A subsequent report from October 9, 2010 [3] also included preliminary minimum resource estimates for 25 of the other claims, representing an additional ~5.61 million gold equivalent ounces.[4] Of the 7 remaining claims, preliminary exploration related to 5 of the claims has shown encouraging results ranging up to 0.71 opt gold, 19.98 opt silver and 2.92% copper.

FOR MORE INFORMATION
To learn more about the Domestic Portfolio, and to read more about the Company and its latest news, visit Liberty Gold's website at http://www.libertygoldcorp.com.

ABOUT LIBERTY GOLD CORP.
Liberty Gold Corp. is a publicly traded (OTCBB: LBGO) gold and precious metals exploration company focused on emerging as an industry leader while effectively growing America's reserves of gold and silver. Headquartered in Phoenix, Arizona, Liberty Gold is committed to the responsible exploration and production of the nation's rich precious metals resources, as well as the proven resources of US-friendly nations. The Company's stable of major gold and silver projects is well established, and thanks to an active approach to property acquisitions, Liberty Gold's portfolio of significant assets continues to grow. For more information on the Company and its activities, visit Liberty Gold's website at http://www.libertygoldcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS,

Liberty Gold Corp.
Lynn Harrison, President and CEO

2415 East Camelback Road
Suite 700
Phoenix, AZ
85016

Investor Relations:
Toll Free: 1-800-961-5388
E-mail: [email protected]
OTCBB: LBGO

This press release includes certain statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on Liberty Gold Corp.'s current expectations and projections about future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to Liberty Gold Corp.'s anticipated financial performance, new developments, business prospects, strategies and similar matters. Liberty Gold Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

Sources:
1. Applied Resource Science (ARS) reserves & calculations report, Jan. 28, 2010.
2. Gold equivalent = Au oz + (Ag oz x Ag price/Au price) + (Zn lb x Zn price/Au price) using 1,271,096 oz gold @ $1590.10/oz, 31,323,400 oz silver @ $28.48/oz and 1,198,462,000 lbs zinc @ $0.8631/lb (May 22, 2012 prices).
3. Applied Resource Science (ARS) reserves & calculations report, Oct. 9, 2010.
4. Gold equivalent using 2,900,000 oz gold @ $1590.10/oz, 61,000,000 oz silver @ $28.48/oz and 2,975,000,000 lbs zinc @ $0.8631/lb (May 22, 2012 prices).

SOURCE Liberty Gold Corp.