Liberty Gold Corp. Reports On International Tower Hill's New High-Grade Gold Intercepts On Adjoining Livengood Property

PHOENIX, Oct. 1, 2012 /PRNewswire/ -- Liberty Gold Corp. (OTCBB: LBGO; "Liberty Gold" and/or "the Company") is pleased to report on International Tower Hill's (ITH) August 21, 2012 announcement of new, high-grade gold intercepts surrounding ITH's main deposit at its Livengood Gold Project in Alaska. ITH's Livengood Property immediately adjoins the western side of Liberty Gold's 4,620-acre McCord Creek Property. The Money Knob deposit on ITH's Livengood Property represents a resource estimate of 16.5 million ounces (Moz) Measured & Indicated at 0.22 grams per tonne cut-off (see ITH website for complete disclosure), making it one of the largest gold deposits discovered in 20 years.

The latest ITH drill results were from a non-exploration directed drill program involving 45 geotechnical and condemnation drill holes in the Livengood project area. According to ITH's August 21, 2012 news release, assay results from four of the holes drilled returned multi-gram gold intersections (intercepts were calculated using a 0.25 g/t gold cutoff and a maximum of 3 meters of internal waste). ITH stressed that, since the new gold intersections are located well outboard of the main deposit, the results indicated the significant exploration potential of the Livengood district scale gold system while highlighting the potential for further bulk tonnage and high-grade discoveries on the property. ITH Interim CEO, Jeff Pontius, commented in the news release: "It is clear that the Livengood gold system is a District scale gold discovery with significant future potential."

ITH's New Selected Drill Intercepts (calculated using a 0.25 g/t gold cutoff and a maximum of 3 meters of internal waste)

HOLE ID

FROM (m)

TO (m)

LENGTH (m)

GOLD (g/t)

MK-12-281

51.66

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Liberty Gold Corp. Reports On International Tower Hill's New High-Grade Gold Intercepts On Adjoining Livengood Property