GlobeNewswire·Mar 23, 2026, 8:30 AM ET

Liberty Gold Announces the Sale of the Goldstrike Project for Proceeds of US$72.5 Million

Liberty Gold Corp. signed a definitive share purchase agreement to sell Speciality American Metals Inc. to Heliostar Metals Ltd. for US$72.5 million.
The transaction includes the sale of the Goldstrike Project in southern Utah to provide capital for Liberty Gold's Black Pine Oxide Gold Project in Idaho.
Total consideration consists of US$10 million cash plus approximately 1.6 million Heliostar shares on closing, with additional cash payments scheduled at 12 months, 18 months, and upon specific milestones or within 5 years.
Closing is expected within 30 days and remains subject to TSX-V regulatory approvals and customary conditions.
Heliostar shares received as consideration will be subject to a hold period expiring four months plus one day after closing.
Canaccord Genuity Corp. and 3L Capital Inc. served as financial advisors, while Blake, Cassels & Graydon LLP and Parsons Behle & Latimer acted as legal counsel.
Canaccord Genuity provided a fairness opinion stating the transaction consideration is fair from a financial perspective.