VANCOUVER, British Columbia, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Libero Copper Corporation (TSX-V: LBC,
OTCQB: LBCMF) is pleased to announce that the option agreement to acquire 100% of the Big Red porphyry copper-gold
property in the Golden Triangle in British Columbia, Canada (“Big Red”) announced on January 28, 2019 has closed. Libero Copper may acquire 100% of Big Red in return for the
issuance of 2,000,000 common shares of Libero Copper and cash payments of $440,000 over four years (the
“Option”). The vendors have retained a 1% net smelter return royalty, 0.5% of which may be repurchased by
Libero Copper at any time for $10 million.
About the Big Red Porphyry Copper-Gold Property
Big Red comprises 12 contiguous claims totalling 17,538 hectares in northwestern British Colombia, 45 kilometres
southwest of Telegraph Creek (Figure 1). Big Red lies within the Golden Triangle 70 kilometres north of Galore Creek and
80 kilometres west of GT Gold’s Tatogga discovery. Big Red is located 18 kilometres from paved highway with dirt roads
extending to the claim block. This transaction represents the first time that the entire project has been consolidated under one
operator.
The Golden Triangle is a geological province of prodigious copper and gold 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 all three of these styles exist, indicating that a large mineralised system has been preserved from erosion.
The porphyry centre to the mineralization is centred on a distinct magnetic-high feature that coincides with a radiometric
potassium anomaly, copper, gold and molybdenum anomalies and a mapped Jurassic aged porphyry intrusion.
Libero Copper understands that previous work programs returned surface rock chip sample assays over 0.3% copper
and 0.3 grams per tonne gold from the porphyry copper-gold target including results of up to 1% copper and 0.5 grams per tonne
gold. Five kilometres to the west, 36 boulders of up to two metres in diameter from an epithermal gold-silver target returned
up to 252 grams per tonne gold with an average of 24 grams per tonne gold (Figure 2).
Due to the consolidation of this property and the numerous data packages that have to be combined Libero Copper
has embarked on a data compilation exercise that, when complete, will better illustrate the properties potential and allow a work
plan and drill targets to be developed. In addition to Big Red, Libero Copper also controls two existing large tonnage copper
deposits; Mocoa in Colombia and Tomichi in the United States.
The scientific and technical information included above with respect to Big Red has been provided to Libero
Copper by third party sources and has not been independently verified. Libero Copper cannot at this time comment on or verify
the key assumptions, parameters, and methods used to prepare the scientific and technical information included above. There
have not been any current or historical mineral resources calculated on Big Red.
The technical information contained in this news release has been reviewed and approved by Libero Copper’s
Executive Vice President of Exploration, Leo Hathaway P.Geo., who is a Qualified Person as defined under NI 43-101
About Libero Copper
Libero Copper is acquiring high-quality copper deposits with significant resources but without any fatal flaws
or significant holding costs and exceptional copper exploration properties in the Americas. These assets are being advanced
and de-risked by a seasoned team to minimize dilution and maximize shareholder value. The portfolio currently includes the
Big Red exploration project in Canada, the Tomichi deposit in the United States and the Mocoa deposit in Colombia which both
contain large inferred mineral resources. In total the properties contain 7.9 billion pounds of copper and 1.1 billion pounds
of molybdenum.
Additional Information
Ian Slater
Chief Executive Officer
+1 604 638 2545
info@liberocopper.com
liberocopper.com
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, and include but are not limited to statements regarding any future
exploration work done on Big Red and the potential results of such work. 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.