Report Date: September 7, 2018 Effective Date: July 23, 2018 MINE DEVELOPMENT ASSOCIATES MINE ENGINEERING SERVICES TECHNICAL REPORT AND RESOURCE ESTIMATED FOR THE TECHNICAL REPORT ON THE BLACK PINE GOLD PROJECT DELAMAR AND FLORIDA MOUNTAIN GOLD – SILVER PROJECT, CASSIA COUNTY, IDAHO, USA OWYHEE COUNTY, IDAHO, USA Submitted to: Authors: LIBERTY GOLD CORP. Michael M. Gustin, CPG Suite 1900, 1055 West Hastings Moira T. Smith, Ph.D., P.Geo. Vancouver, B.C., Canada V6E 2E9 William A. Lepore, M.Sc., P.Geo. Telephone: 604-632-4677 775-856-5700 210 S Rock Blvd Reno, NV 89502 www.mda.com MINE DEVELOPMENT ASSOCIATES MINE ENGINEERING SERVICES CONTENTS 1.0 SUMMARY (ITEM 1) .................................................................................................................... 1 1.1 Property Description and Ownership ................................................................................... 1 1.2 Exploration and Mining History .......................................................................................... 1 1.3 Geology and Mineralization ................................................................................................. 2 1.4 Metallurgical Testing and Mineral Processing .................................................................... 3 1.5 Conclusions and Recommendations .................................................................................... 3 2.0 INTRODUCTION AND TERMS OF REFERENCE (ITEM 2) .................................................... 5 2.1 Project Scope and Terms of Reference ................................................................................ 5 2.2 Frequently Used Acronyms, Abbreviations, Definitions, and Units of Measure ................ 6 3.0 RELIANCE ON OTHER EXPERTS (ITEM 3) ............................................................................. 9 4.0 PROPERTY DESCRIPTION AND LOCATION (ITEM 4) ........................................................ 10 4.1 Location .............................................................................................................................. 10 4.2 Land Area ........................................................................................................................... 11 4.3 Agreements and Encumbrances ......................................................................................... 13 4.4 Environmental Liabilities ................................................................................................... 13 4.5 Environmental Permitting .................................................................................................. 14 4.6 Water Rights ....................................................................................................................... 15 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND PHYSIOGRAPHY (ITEM 5) ........................................................................................................ 16 5.1 Access to the Property ........................................................................................................ 16 5.2 Climate ............................................................................................................................... 17 5.3 Physiography ...................................................................................................................... 17 5.4 Local Resources and Infrastructure .................................................................................... 17 6.0 HISTORY (ITEM 6) ..................................................................................................................... 18 6.1 Exploration History ............................................................................................................ 18 6.2 Historical Geological Mapping .......................................................................................... 21 6.3 Historical Soil Sample and Stream Sediment Data ............................................................ 21 6.4 Historical Rock-Chip Geochemistry .................................................................................. 23 6.5 Historical Resource and Reserve Estimates ....................................................................... 25 6.5.1 Pegasus Historical Reserve Estimates ................................................................... 26 6.6 Past Production ................................................................................................................... 27 775-856-5700 210 South Rock Blvd. Reno, Nevada 89502 FAX: 775-856-6053 Technical Report on the Black Pine Gold Project, Idaho; Liberty Gold Corp. Page ii 7.0 GEOLOGIC SETTING AND MINERALIZATION (ITEM 7) ................................................... 28 7.1 Regional Geology ............................................................................................................... 28 7.2 Property Geology ............................................................................................................... 30 7.2.1 Stratigraphy ........................................................................................................... 33 7.2.2 Structural Geology ................................................................................................. 34 7.3 Alteration and Mineralization ............................................................................................ 35 7.3.1 Location of Mineralization – Historical Pits and Vicinity .................................... 41 7.3.2 Gold Mineralization and Soil Anomalies .............................................................. 42 8.0 DEPOSIT TYPES (ITEM 8) ......................................................................................................... 47 9.0 EXPLORATION (ITEM 9) ........................................................................................................... 49 9.1 Historical Data Compilation and Project Database Construction ...................................... 49 9.2 Liberty Gold Rock Sampling ............................................................................................. 51 9.3 Three-Dimensional Modeling ............................................................................................ 53 9.4 Summary Statement ........................................................................................................... 53 10.0 DRILLING (ITEM 10) .................................................................................................................. 54 10.1 Summary ............................................................................................................................ 54 10.2 Historical Drilling .............................................................................................................. 56 10.2.1 Newmont 1964 and 1974 ....................................................................................... 57 10.2.2 Gold Resources and Permian 1974-1976 .............................................................. 58 10.2.3 ASARCO 1977 ...................................................................................................... 58 10.2.4 Pioneer Nuclear 1979-1981 ................................................................................... 58 10.2.5 Permian and Pegasus 1983-1986 ........................................................................... 58 10.2.6 Noranda 1986-1990 ............................................................................................... 58 10.2.7 Pegasus 1990-1997 ................................................................................................ 59 10.2.8 Western Pacific 2011-2012 ................................................................................... 59 10.3 Liberty Gold Drilling 2017 ................................................................................................ 59 10.4 Drill-Hole Collar Surveys .................................................................................................. 66 10.5 Down-Hole Surveys ........................................................................................................... 66 10.6 Newmont Evaluation of Drill Sampling ............................................................................ 67 10.7 Summary Statement ........................................................................................................... 67 11.0 SAMPLE PREPARATION, ANALYSIS, AND SECURITY (ITEM 11) ................................... 69 11.1 Sample Preparation and Analysis ....................................................................................... 69 11.1.1 Historical Surface and Drilling Samples ............................................................... 69 11.1.2 Liberty Gold Surface Samples ............................................................................... 71 11.1.3 Liberty Gold Drilling Samples .............................................................................. 72 11.2 Sample Security ................................................................................................................. 72 11.3 Quality Assurance/Quality Control .................................................................................... 72 11.3.1 Historical QA/QC Procedures ............................................................................... 72 11.3.2 Liberty Gold QA/QC ............................................................................................. 73 11.4 Summary Statement 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