VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce it has received approval from the Bureau of Mining and Petroleum Affairs of the Ministry of Energy and Natural Resources of the Turkish Government for the previously announced sale of its interest in the TV Tower copper gold project (“TV Tower” or the “Project”), located in Biga Province, northwest Türkiye (see press release dated April 17, 2024). The transaction is expected to close in September.

Cal Everett, CEO and Director of Liberty Gold commented, “The government approval of the sale of TV Tower represents the final approval required for the transaction, which upon closing will complete the monetization process of all of Liberty Gold’s Turkish assets and establish the Company as a pure Great Basin gold company advancing two Carlin-style gold deposits.”

Since signing the share purchase agreement, Liberty Gold has increased its interest in the Project to 73.7% through sole funding of certain project expenditures. Liberty Gold’s share of the US$11.5 million in gross proceeds has now increased to US$8.5 million which will be paid in three stages as follows:

US$3.7 million on the closing date.
US$2.2 million on the first anniversary of the closing date.
US$2.6 million on the second anniversary of the closing date.
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.

see & read more on https://libertygold.ca/news/news/66-2024-news/506-liberty-gold-provides-update-on-tv-tower-transaction.html