VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD, OTCQX:LGDTF) ("Liberty Gold" or the "Company"), is pleased to announce its financial and operating results for the three and six months ended June 30, 2024. All amounts are presented in United States dollars unless otherwise stated. SECOND QUARTER OF 2024 AND RECENT HIGHLIGHTS On April 29, 2024, we announced a non-brokered private placement for C$9.5 million, and on April 30, 2024, announced that the private placement was upsized to C$12.5 million1 (the "Private Placement"). Under the Private Placement the Company sold 35,715,362 units of the Company (the "Units") at an issue price of C$0.35 per Unit. Each Unit consists of one common share of Liberty Gold (each, a "Common Share") and 1/2 of a Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of C$0.45 for a period of 24 months following completion of the Private Placement. On April 17, 2024, we announced the signing of a definitive agreement to sell the TV Tower Project in Türkiye, for $11.5 Million on a 100% Basis. The Company's 73.7% share of the $11.5 million in gross proceeds ($8.5 million) will be paid in three stages as follows2: $3.7 million on the closing date. $2.2 million on the first anniversary of the closing date. $2.6 million on the second anniversary of the closing date. On June 11, 20243, we announced the appointment of a Director of Regulatory Affairs and Sustainability, Matthew Zietlow, to advance mine permitting with the federal and state agencies. Mr. Zietlow has over 30 years of experience in mine permitting, operational compliance, reclamation and closure at multiple active and idled locations throughout the western United States. He has held senior roles in community affairs, media relations, and academic advisory boards related to the mining sector, and also served as State chair of the Nevada Mining Association Executive Environmental Committee. At the Black Pine project ("Black Pine"), In June 20244, we commenced a 20,000 metre ("m") reverse circulation drill program focusing on seven new high-priority targets aimed to significantly enhance the Black Pine's resource base and unlock new areas of oxide gold mineralization. The Company progressed the pre-feasibility study, advancing engineering on infrastructure, heap leach pads, water & power supply and ran numerous iterations of mine development options, flexing production rate, cut-off grade, optimal pit shell pricing, stockpiling strategy and total material movement rates. During the quarter, geotechnical, hydrological, metallurgical studies and gold/silver leach recovery models were concluded and preliminary site, infrastructure & process plant layouts were completed. On June 26, 20245, the Company hosted a formal mine permitting kick-off meeting with key representatives from the US Forest Service, the Bureau of Land Management, and the Idaho Department of Lands. The meeting was led by Matt Zietlow, Director of Regulatory Affairs and Sustainability. On June 11, 20243, we announced the approval of the fourth plan of operations amendment, resulting in an increase to the permitted exploration area by 51% to 37.3 square kilometres ("km2"). The amendment opens up large areas that previously had timing restrictions for exploration activity. This greatly facilitates drill access to several lower-elevation areas, in particular South Rangefront and M Zone, for unrestricted, year-round drilling. The Company has additionally staked 46 unpatented mining claims3 in the southwest of the project area, totalling 3.3 km2. These claims are contiguous with the existing project area and cover the projected southern extension of the prospective middle plate host rock carbonate sequence, identified by field & structural mapping and soil geochemistry. The newly acquired ground expands the total project area to 69.3 km2. SELECTED FINANCIAL DATA The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the "Interim Financial Statements") for the three months ended June 30, 2024, as prepared in accordance with IFRS Accounting Standards – IAS 34: Interim Financial Statements. A copy of the Interim Financial Statements is available on the Company's website at libertygold.ca or on SEDAR+ at www.sedarplus.ca. The information in the tables below is presented in $'000s, except ‘per share' data:             Three months ended June 30, Six months ended ...