The Hornets will head into Saturday’s tie at the Green Energy Sports Ground with the aim of securing yet another home tie in the last 16 of the competition.
If they are successful on Saturday, Hebburn will host the winners of the fourth-round tie between North West Counties League club Congleton Town and Hellenic League side Malvern Town.
Bolam described the draw as a positive but insisted that his full focus was on getting past a Liversedge side that have already sent three Northern League clubs out of this season’s competition.
He told The Gazette: “We can’t afford to look beyond what is a sizable task in facing Liversedge.
“We know there is a home draw lying in wait and that is a positive.
“We will only worry about what lies next if we manage to get through Saturday’s tie and even then, we will have another competitive game to focus on in midweek.
“It’s the old adage of one game at a time, that’s the way it has to be in the current circumstances.”
Birtley Town will provide the opposition for Hebburn in midweek after the two sides were paired in the Durham Challenge Cup quarter-final.
Bolam’s men will travel to the Arrowmark Home Improvements Stadium on Tuesday night after the Hoops claimed an impressive 2-1 win against the Hornets’ FA Vase Final opponents Consett in the last round.
The Hebburn boss is anticipating a tough challenge against the Northern League Division Two side as he looks to keep his hopes of silverware alive on two fronts this season.
He said: “Birtley had a great win against Consett on Saturday and they’re a very progressive club.
“We will have to manage our squad because of the games we have coming up and we have to be sensible.
“We aren’t in any doubt that they will provide us with a very tough test.”
The winners of the tie between Birtley and Hebburn will host the victors of the quarter-final between West Auckland Town and Easington Colliery in the last four of the competition.