Libero Announces 2021 Work Program

VANCOUVER, BC, Feb. 8, 2021 /CNW/ - Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) announces 2021 work programs, including a total of 12,000 metres of drilling to advance the Big Red, Big Bulk, Esperanza and Mocoa porphyry copper projects.

Highlights

• Esperanza, in San Juan, Argentina – Surface work is starting immediately followed by 5,000 metres of drilling commencing in April focused on the large 2.0-kilometre by 1.2-kilometre surface alteration footprint and stepping-out from the discovery hole that intercepted 387 metres of 0.78% copper equivalent from surface through the end of hole.

• Big Red, in BC's Golden Triangle – Surface mapping, sampling and IP commencing in June, followed by 5,000 metres of drilling following up the 2020 greenfield porphyry discovery on the periphery of a greater than one kilometre in diameter porphyry footprint.

• Big Bulk, in BC's Golden Triangle – 2,000 metres of drilling commencing in August to test interpretations indicating that the target is a much larger calc-alkaline porphyry system tilted on its side with higher grade mineralization in a discreet mineralized phase not targeted by historic drilling.

• Mocoa, in Colombia – Focus on drill permitting, community engagement and creation of long-term relationships.

"Our 2021 plan is a significant step forward in Libero's strategy of year-round value creation achieved through drilling in multiple jurisdications while operating with a a future looking mentality. At both Esperanza and Big Red we are following up on discoveries with significant targets, solid grades, and mineralization from surface. At Big Bulk we are looking to make a new discovery based on drilling new interpretations. Finally, we will be leveraging management and local team experience in developing projects in Latin America to ensure sustainable project development to unlock the value of Mocoa," comments Ian Harris, Chief Executive Officer. "We look forward to advancing our project pipeline of copper porphyry deposits in mining-friendly jurisdictions that have the potential to become significant future mines."

About Libero Copper & Gold

Libero is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new greenfield discovery) and Big Bulk in the Golden Triangle, Canada, Esperanza in San Juan, Argentina and the Mocoa deposit in Colombia. 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 Dr. Thomas Mumford P.Geo, President of Serac Exploration, 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 Corporation.

Ian Harris, Chief Executive Officer, [phone], [email protected]; Tetiana Konstantynivska, Investor Relations, [phone], [email protected]