Liberty Silver Corp. Amends Letter of Intent to Acquire Bunker Hill Mine

TORONTO, ONTARIO--(Marketwired - May 23, 2017) - Liberty Silver Corp. ("Liberty" or the "Company") (CSE:LSL) is pleased to announce that, following discussions with Placer Mining Corp. ("Placer" or the "Vendor"), the current owner of the Bunker Hill Mine, that have occurred over the last several days, Placer and Liberty have elected to undertake several modifications to the Letter of Intent that exists between the Parties.

Pursuant to these amendments, the parties have agreed, among other things, that, in consideration of the use of the Russell Tunnel, Liberty will indemnify the vendor and its officers, agents and employees from any liabilities arising out of Liberty's repair and use of the Russell Tunnel, the connected ramp system and access to the Newgard area and other tunnels connected to the Russell Tunnel that will be accessed by Liberty's due diligence programs. Liberty also agrees to provide certain evidence of insurance coverage and workmen's compensation insurance compliance from its principal contractor, who is currently working at the Russell Tunnel.

Also, in consideration of Liberty's continuing to make public news releases and public filings regarding agreements, progress and timelines with respect to due diligence and progress toward closing the Bunker Hill Mine purchase, Liberty agrees to indemnify the Vendor and its officers, agents and employees from any liabilities arising out of the filing or dissemination of news releases, reports and other market information with respect to the Bunker Hill proposed transaction, including any alleged negligence of the vendor with respect to dissemination of information. In this regard, Liberty agrees to notify Placer of any future news releases to enable Placer to provide comments.

The closing date for the sale is extended to July 28, 2017 to enable the parties to complete necessary agreements and plans with applicable United States government agencies. Additionally, either party can request a further extension of 30 days if requested. Liberty agrees to make a partial payment of US$100,000 to be credited toward the purchase price (and an additional US$100,000 if closing is extended for an additional 30 days) and Placer agrees to provide, within a defined period, certain financial and corporate information specified by the terms of the Letter of Intent. The Vendor also agrees to provide its comments and proposed changes to the definitive purchase agreement by June 10, 2017 with both parties acknowledging that further changes to the definitive agreement may result from due diligence, discovery, and results of upcoming meetings with applicable United States governmental agencies. Finally, the vendor has retracted certain notices of default that have been addressed by the recent amendments.