Libero Announces Initial Results from Terry Target at Big Red

VANCOUVER, July 27, 2020 - Libero Copper & Gold Corp. (TSXV:LBC) (OTCQB:LBCMF) (DE:29H) is pleased to announce assay results from initial surface sampling at the Terry target including a 35 metre section where 8 grab samples contain 5.54%, 5.46%, 3.44%, 2.07%, 1.38%, 1.26%, 0.79% and 0.63% copper respectively.

Additional geochemical sampling and mapping follows up on the 19 multi-element geochemical anomalies identified in the 2019 program (Figure 1) and the conductive targets identified by the recent ZTEM geophysical survey (news release dated April 14, 2020). Work commenced at the lower elevation Terry target while the higher elevation Ridge and Poker targets where still snow covered.

The Terry target is characterized by a copper-gold surface sample anomaly with anomalous K/Th detected in airborne radiometrics, on the northeastern edge of the Limpoke Pluton. New sampling and mapping compliments historic sample results and has delineated two areas within the radiometric anomaly with elevated copper-gold - Limpoke Cliff and Terry Creek. Limpoke Cliff had not received any previous or historic sampling and new sampling returned up to 5.54% copper. Mineralization is associated with a felsic porphyry, pegmatitic dikes and a gossan breccia. At Terry Creek samples returned up to 0.43% copper in volcanics and porphyry intrusives.

Of the 57 grab samples collected from the Terry target area 27 returned above 0.1% copper and, of these, 11 returned up to 0.3% copper, 9 samples assayed between 0.3% and 1.0% copper and 7 samples graded more than 1.0% copper (Table 1 below). Additionally, anomalous gold graded up to 0.53 g/t gold.

Libero also announces the grant of 400,000 options to consultants, exercisable at a price of $0.17 until October 2, 2024.

About the Big Red Porphyry Gold-Copper Property

Big Red comprises 20 contiguous claims totalling 26,000 hectares in northwestern British Colombia, 45 kilometres southwest of Telegraph Creek along the Glenora Road. Big Red lies within the Golden Triangle 70 kilometres north of Galore Creek and 100 kilometres west of Red Chris.

The Golden Triangle is a geological province of prodigious gold and copper mineralisation and host to some of Canada's most famous mines, including Premier, Red Chris, Snip, Brucejack and Eskay Creek. Within the Golden Triangle porphyry copper and gold, epithermal gold and silver and volcanogenic massive sulfide styles of mineralisation have all been recognised. At Big Red the primary gold-copper targets are peripheral to a distinct large magnetic-high feature and coincide with a radiometric potassium anomaly, copper, gold, silver and molybdenum anomalies and a mapped Jurassic aged porphyry intrusion. Please see Libero's flickr site for photographs.

About Libero Copper & Gold

Libero holds a collection of porphyry deposits throughout the Americas in prolific but stable jurisdictions. The portfolio includes both exploration properties such as Big Red, a new gold discovery in the Golden Triangle, Canada, and high-quality deposits with significant resources but without any fatal flaws or significant holding costs. The Tomichi copper deposit in the United States and the Mocoa copper deposit in Colombia, both contain large inferred mineral resources. In total, the Mocoa and Tomichi properties contain 7.9 billion pounds of copper and 1.1 billion pounds of molybdenum. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.

The technical information contained in this news release has been reviewed and approved by Libero's Executive Vice President of Exploration, Leo Hathaway P.Geo., who is a Qualified Person as defined under NI 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

SOURCE Libero Copper & Gold Corp..