VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to report initial assay results from the 2024 reverse circulation (“RC”) exploration drill program at its Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho. These results are from step-out drilling around the Rangefront deposit area, one of seven key targets defined in the expanded exploration permit area at Black Pine (see press release dated June 11, 2024). This first phase of feasibility drilling at Rangefront is targeting zones of open oxide gold mineralization in all directions from the main deposit area, as well as upgrading zones of inferred resources to the indicated category.y.

KEY POINTS

• Results from drilling have significantly expanded the footprint of the mineralized zone at Rangefront to the east, west and north.
• Drilling has also discovered a new shallow zone of oxide mineralization, this zone represents the highest grade thickness drilled in upper plate rocks at Rangefront to date. See Figure 1 below.
• Mineralization at Rangefront remains open and will be targeted in additional drilling starting in 2025.

FIGURE 1: RANGEFRONT ZONE CROSS SECTION

RANGEFRONT

Assays from the first 11 drill holes received from the western margin of Rangefront confirm that the known zone of oxide mineralization remains open to the west, with strong gold grades and good cyanide solubility similar to that seen throughout the Rangefront zone. These results have extended the western Rangefront mineralization over an area of approximately 250 meters (“m”) north-south and 130 m east-west. Importantly, 2024 drilling has defined a new, near-surface zone of higher-grade oxide gold mineralization in what was previously classified in the Black Pine Preliminary Feasibility Study^[1] (“PFS”) as non-mineralized material and treated as waste rock in the PFS mine plan (“Mine Plan”). This zone is open to the west and east extending back into the reserve pit area. It is anticipated that a conversion of this area into the mineral resource would have a positive impact on the Mine Plan. The 2024 drilling has now concluded, and results are pending from an additional twelve drill holes in Rangefront as well as 18 drill holes from lower Burnt Basin, CD Pit, A Pit and M Zone.

RANGEFRONT HIGHLIGHT TABLE*

_{¹See technical report “Black Pine Project NI 43-101 Technical Report, Oneida County, Idaho, USA”, effective June 1, 2024, and dated November 21, 2024, prepared by Valerie Wilson, P.Geo. SLR Consulting Ltd.; Todd Carstensen, RM-SME AGP Mining Consultants Inc.; Gary Simmons, MMSA GL Simmons Consulting, LLC; Nicholas T. Rocco, Ph.D., P.E.  NewFields Companies LLC; Benjamin Bermudez, P.E. M3 Engineering & Technology Corp.; Matthew Sletten, P.E. M3 Engineering & Technology Corp.; John Rupp, P.E. Piteau Associates Ltd. ; Daniel Yang, P.Eng., P.E. Knight Piésold Ltd.; Richard DeLong, M.Sc. Westland Engineering & Environmental Services Inc. on the Company’s profile on SEDAR+ at www.sedarplus.ca and press release dated October 10, 2024.}

Drilling along the east flank of Rangefront was successful in extending mineralization both towards the east and northeast. In the eastern areas oxide gold mineralization is near surface with a thin cover of alluvium. Additional drilling along the eastern margin of the Rangefront resource area has extended oxide gold mineralization up to 50 m from modeled mineralized zones and also remains open to the east.  A single drill hole targeting the northern extent of Rangefront mineralization was successful in identifying additional oxide gold mineralization up to 100 m northeast of the current block model.

Fifteen holes drilled south of Rangefront intersected scattered anomalous gold and pathfinder elements, with no reportable intercepts. The upper plate cover sandstone sequence appears thicker than expected in this area and receptive host rocks would be present at depth. Additional work targeting uplifted blocks of middle plate has commenced and drilling in 2025 is warranted in the large, untested areas further south.

DRILL RESULTS MAP

For a table showing complete drill results for the current release, see this link:
https://libertygold.ca/images/news/2024/December/BP_Intercepts12042024.pdf

These positive drill results support Liberty Gold’s strategy to optimize the Black Pine project, potentially expanding the current +1 million ounce gold resource base at Rangefront¹, which would add to the 4.1 million ounce gold indicated resource¹ at Black Pine.

A second phase, follow-up drill program across the Black Pine project is anticipated in early 2025 to bring in additional mineralization to the feasibility resource estimate, expected in the second half of 2025, ahead of the commencement of feasibility engineering studies. The results align well with the Company’s recently released PFS which outlined the strong economics of the Black Pine project, with significant upside potential.

Pete Shabestari, VP of Exploration at Liberty Gold, commented: "The results from our 2024 drill holes in Rangefront are highly encouraging as they show we are still not done at Rangefront, and the deposit shows potential to grow. With the drill program continuing to yield positive results, we are optimistic about the resource expansion opportunities as we move toward a full feasibility resource model in 2025."

The Company is also proceeding with the preparations for submission of the Mine Plan of Operations at Black Pine and anticipates filing with Federal and State Agencies by the end of the year.

QUALIFIED PERSONPeter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll-Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

QUALITY ASSURANCE – QUALITY CONTROL
Drill composites were calculated using a cut-off of 0.15 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 50% to 90% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10 parts per million an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. All holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation.

_{All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Black Pine, expected gold and silver recoveries from the Black Pine mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Black Pine and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources and mineral reserves, the availability of drill rigs, the accuracy of the PFS, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.}

_{Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca .}

_{The Mineral Resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

_{Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.}

VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) ("Liberty Gold" or the "Company") is pleased to announce that further to its news release dated October 10, 2024, the Company has filed a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report entitled  “Technical Report and Pre-feasibility Study for the Black Pine Gold Project, Cassia and Oneida Counties, Idaho, USA”, effective June 1, 2024, and dated November 21, 2024, on the Company’s profile on SEDAR+ at www.sedarplus.ca.

The Technical Report was prepared by the following team of industry experts:

The Technical Report is also available on the Company’s website at libertygold.ca.

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll-Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Black Pine, expected gold and silver recoveries from the Black Pine mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Black Pine and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources and mineral reserves, the availability of drill rigs, the accuracy of the pre-feasibility study, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca .

The Mineral Resource estimates referenced in this press release use the terms "indicated mineral resources", "inferred mineral resources" and “probable mineral reserves”. While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce the successful completion of a first pass field sampling program at the Antimony Ridge discovery, part of the Company’s Goldstrike Oxide Gold Project (“Goldstrike”) in southwestern Utah. Following a strategic staking program that added 3.2 square kilometers to the Goldstrike claim block in September (see press release dated September 5, 2024), recent field work has confirmed the presence of significant high-grade antimony and gold oxide mineralization at surface. A follow-up detailed surface sampling and mapping program has been initiated to better define the key target areas and exploration drill testing is being planned for 2025.

Pete Shabestari, Vice President, Exploration for Liberty Gold, commented: “Our successful fieldwork at Antimony Ridge confirms the high-grade potential of this discovery, not only for antimony but for gold as well. This program demonstrates our commitment to unlocking value from all parts of the Goldstrike project. We look forward to advancing Antimony Ridge into the next phase of exploration with an expanded field program and preparation for drilling in 2025.”

Key Sampling Results and Discoveries

Liberty Gold’s recent fieldwork has significantly increased the size and grade of the identified antimony mineralized zone at Goldstrike, with new sampling returning values of up to 5.7% (57,000 parts per million (“ppm”)) antimony (“Sb”) and 3.94 grams per tonne (“g/t”) gold (“Au”), surpassing previous high-grade results of 2.0% antimony  and 0.84 g/t gold. A total of 112 surface samples were taken from across the 6 square kilometer target area. The known high-grade mineralized zone is hosted within a laterally extensive jasperoid breccia body. The known mineralized zone spans greater than 450 meters along strike length and is five to locally over 10 meters thick. Sampling has been focused on areas of good exposure and regionally, the jasperoid is present throughout the eastern area at the contact between Eocene sediments and Miocene volcanics and dips 20-25 degrees to the northeast.

In addition to mapping and sampling at the main antimony and gold zone, the field program discovered a 300 meter exposure of mineralized jasperoid breccia area 1,500 meters to the east, along the same contact. See Figure 1 below:

Figure 1: ANTIMONY RIDGE AREA SAMPLING MAP

TABLE 1: HIGHLIGHT ASSAY RESULTS FOR GOLD AND ANTIMONY¹

¹Assay results from surface rock sample have been analyzed at ALS Labs in Reno, Nevada for assay using a fire assay for gold and silver and aqua regia ICP-MS for Antimony with over-limit results re-run using a KClO3/HCl digestion. 10,000 ppm = 1%; “fe-ox”=iron oxide

The mineralization at Antimony Ridge occurs as large, bladed to massive disseminated stibiconite in a multi-phase jasperoid breccia with gold. Stibiconite, is an antimony oxide formed from the in-situ oxidation of stibnite, the primary antimony sulfide mineral. The stibiconite occurs in a large, bedding-parallel jasperoid breccia. This same jasperoid breccia has also been identified at multiple locations throughout the property. We would expect for the near-surface antimony oxide mineralization to transition into primary antimony sulfide mineralization down dip, below the limit of oxidation.

The Antimony Ridge mineralization occurs in the younger stratigraphy, along an easily traceable contact. See Figure 2 below:

FIGURE 2: ANTIMONY RIDGE GEOLOGIC CROSS SECTION

Antimony Ridge Phase 2 Exploration Program

Building on these positive results, Liberty Gold intends to initiate a second-phase work program designed to further expand and refine the high-grade zones, along with the following next steps:

• Focused Rock Sampling: Conduct detailed sampling to extend the high-grade antimony and gold zones, with a focus on northeast continuity under thin volcanic cover.
• Drill Program Development: Initiate planning for a drill program, including preparation for a "Notice of Intent" permit application, to evaluate the mineralized zones further and at depth.
• Geological Mapping: Refine existing geologic mapping to better define the structural controls and mineralized trends of the antimony system.

Update on Process Water Supply for Goldstrike

In support of advancing Goldstrike, Liberty Gold has completed a hydrological desk study in collaboration with Loughlin and Associates and LRE Water, identifying potential water sources within the sub-basin. The findings of this study are commercial-in-confidence, and as such, the report has not been released. The Company is actively engaged in discussions with the Washington County Water Conservancy District to establish a collaborative approach to new water exploration and permitting in the Goldstrike project area. Securing a sustainable water supply for Goldstrike is a key priority as we continue to de-risk and advance the project.

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

_{All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws,  and the  potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.}

_{Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally;  delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at  www.sedarplus.ca.}

_{Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.}

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”), is pleased to announce its financial and operating results for the three and nine months ended September 30, 2024. All amounts are presented in United States dollars unless otherwise stated.

THIRD QUARTER OF 2024 AND RECENT HIGHLIGHTS

• On October 7, 2024, we announced the close of the sale of the TV Tower project in northwest Türkiye (“TV Tower”), through the sale of our 73.7% owned subsidiary Orta Truva Madencilik Şanayi ve Ticaret A.Ş (“Orta Truva”) to a major Turkish mining and construction company. The first of three staged consideration payments of $3.7 million was received on October 4, 2024. Our share of the remainder of the gross proceeds will be paid in two further stages as follows^[1]:
  • $2.2 million on October 4, 2025, and
  • $2.6 million on October 4, 2026.
• On October 24, 2024, we published our 2023 Environmental, Social and Governance disclosure update^[2].

At the Black Pine project in Idaho (“Black Pine”),

• On October 10, 2024^[3], we announced the results of a Black Pine preliminary feasibility study (“Black Pine PFS”), demonstrating the commercial viability of an open pit, run-of-mine heap leach operation with a one-year construction period.
• As part of the Black Pine PFS a first-time mineral reserve for Black Pine was released, and the mineral resource previously published on February 15, 2024^[4], was updated.
• On September 25, 2024^[5] we announced the receipt of the Hardrock Prospector Permit (“HPP”) at Black Pine adding 7.1 square kilometres (“km²”) of key exploration and development ground in the centre and south of the known mineralized area and expanding the Black Pine Project Area by 10% to a total of 69.3 km²
• On July 17, 2024, we announced the commencement of a 20,000-metre drill exploration program at Black Pine targeting seven key areas identified on newly permitted ground^[6].
• On July 3, 2024, the Company reported on the Black Pine Mine Permitting initiation meeting with federal and states agencies.^[7]

At the Goldstrike project in Utah, we announced the identification of a high-grade antimony mineralizing system that outcrops along the eastern extension of the main gold trend^[8].

SELECTED FINANCIAL DATA

The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the three and nine months ended September 30, 2024, as prepared in accordance with IFRS Accounting Standards – IAS 34: Interim Financial Statements.

A copy of the Interim Financial Statements is available on the Company’s website at libertygold.ca or on SEDAR+ at www.sedarplus.ca.

The information in the tables below is presented in $’000s, except ‘per share’ data:

^[1] See news releases dated October 7, 2024 and April 17, 2024.
^[2] See news release dated October 24, 2024.
^[3] See news release dated October 10, 2024.
^[4] See news release dated February 15, 2024.
^[5] See news release dated September 25, 2024.
^[6] See news release dated July 17, 2024
^[7] See news release dated July 3, 2024.
^[8] See news release dated September 5, 2024.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

_{Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.}

_{This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements or information concerning, future financial or operating performance of Liberty Gold and its business, operations, properties and condition; planned de-risking activities at Liberty Gold’s mineral properties; the potential quantity, recoverability and/or grade of minerals; the potential size of a mineralized zone or potential expansion of mineralization; proposed exploration and development of Liberty Gold’s exploration property interests; the results of mineral resource estimates or mineral reserve estimates and preliminary feasibility studies; and the Company’s anticipated expenditures.}

_{Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, timing or results of the publication of any mineral resources,  mineral reserves, or pre-feasibility study, the availability of drill rigs, the timing of receipt of future staged payments from the sale of TV Tower, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.}

_{Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing or results of the publication of any mineral resources, mineral reserves or pre-feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing, timing of receipt of staged payments on the sale of TV Tower or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024, in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.}

_{Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except for material differences between actual results and previously disclosed material forward-looking information, or as otherwise required by law.}

_{Except for statements of historical fact, information contained herein or incorporated by reference herein constitutes forward-looking statements and forward-looking information. Readers should not place undue reliance on forward-looking information. All forward-looking statements and forward-looking information attributable to us is expressly qualified by these cautionary statements.}

_{Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources}

_{The information in this MD&A, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.}

_{Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “mineral reserves”. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards, adopted by the CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States Securities and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”) under the United States Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.}

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the "Company") is pleased to announce the achievement of three important milestones in the permitting process for its flagship Black Pine Oxide Gold project (“Black Pine”) in southeast Idaho.   Collaborative efforts with the U.S. Forest Service (“USFS”) have resulted in the recent execution of a Memorandum of Understanding (“MOU”) and a Cost Recovery Agreement. Additionally, the selection and approval of a third-party contractor for the National Environmental Policy Act (“NEPA”) process was also received from the USFS and Bureau of Land Management (“BLM”).

These accomplishments mark critical steps in the Company’s ongoing efforts to advance Black Pine  towards feasibility and an eventual construction decision, while ensuring compliance with federal and state environmental standards and maintaining a collaborative engagement with stakeholders.

Matt Zietlow, Director, Regulatory Affairs and Sustainability, of Liberty Gold: “We are pleased to formalize our collaboration with the U.S. Forest Service and look forward to advancing the NEPA process with an experienced third-party contractor approved by both lead federal agencies. These developments underscore our commitment to working closely with federal regulators to ensure a thorough and transparent permitting process that meets the highest environmental and regulatory standards. Our progress in permitting brings us closer to unlocking the significant value of our flagship project and aligns with our commitment to environmental responsibility and stakeholder engagement.”

Highlights

The Sawtooth National Forest of the Forest Service, Department of Agriculture, is following NEPA regulations to prepare an environmental report, an Environmental Impact Statement (“EIS”), for a major federal action proposed by the Cooperator, specifically the Black Pine Mine Project.

The MOU formalizes a collaborative partnership between Liberty Gold and the USFS, establishing a cooperative framework for the project’s NEPA permitting pathway. This agreement sets forth clear objectives, roles, and responsibilities for both parties, and is designed to facilitate efficient project progression while upholding federal environmental stewardship standards.

In conjunction with the MOU, Liberty Gold has entered into a Cost Recovery Agreement with the USFS to cover the expenses associated with the NEPA review, EIS preparation, and related administrative support. The agreement reflects the Company’s commitment to advancing the permitting process efficiently and responsibly, supporting the necessary resources to achieve regulatory milestones on schedule.

The USFS and BLM as co-lead, in consultation with Liberty Gold, have now selected a qualified third-party NEPA contractor to complete the EIS for the project. This selection is a significant milestone and key step towards initiation of the NEPA permitting process. The contractor will work closely with the USFS, BLM, and Liberty Gold as the proponent, into performing a comprehensive analysis of potential environmental impacts for the project and ensuring public transparency and stakeholder engagement.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit www.libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

 <sub>All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Black Pine, expected gold and silver recoveries from the Black Pine mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the timing and receipt of necessary permitting. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources and mineral reserves, the availability of drill rigs, the accuracy of the PFS, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca 

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.</sub>

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”) is pleased to announce the release of the company’s 2023 Environmental, Social and Governance (“ESG”) disclosure update report. The report demonstrates the Company’s continuing commitment to ESG transparency with this 2023 ESG disclosure update.

The report serves to update quantitative metrics and any relevant qualitative disclosures for our offices and site operations from January 1 to December 31, 2023, and should be read in conjunction with the Company’s 2022 ESG report. The report is aligned with the standards and framework of the Sustainability Accounting Standards Board (SASB). Liberty Gold will continue to report on our performance on an annual basis. As Liberty Gold continues its evolution as a mine development company, the report emphasizes the company's dedication to continual improvement and aligning with the evolving landscape of sustainability reporting standards.

Liberty Gold’s 2023 ESG Report is available for download at: https://libertygold.ca/esg/reports.html

ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.  Our flagship projects are Black Pine in Idaho and Goldstrike in Utah, both past- producing open-pit mines, where previous operators only scratched the surface.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

<sub>All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.</sub>

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the "Company") is pleased to announce the results of a Preliminary Feasibility Study (“PFS” or the “Study”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) at its flagship Black Pine Oxide Gold Project (“Black Pine” or the “Project”) in southern Idaho, USA. The Study supports a technically straight-forward, low capital intensity, open-pit, run-of-mine (“ROM”) (no ore crushing, screening or agglomeration) heap-leach operation processing oxide gold ore, with attractive economic returns.

This news release should be read in combination with the Study presentation slide deck available at this link: https://libertygold.ca/images/news/2024/October/BlackPineProjectPFSDeck.pdf

The Study assumes a base-case gold price of $2,000/ounce (“oz”) and all figures in this news release are stated in United States dollars (“$” or “US$”) unless otherwise noted. Table 1 below presents a summary of the key metrics for the Black Pine PFS.

Cal Everett, CEO and Director of Liberty Gold commented: “This PFS highlights the strong economic potential at Black Pine, representing our vision for a low-risk, sustainable and long-lived gold mining operation in Idaho. It demonstrates the Project’s ability to exploit higher grades early in the mine life, allowing for solid cash flows over the first five years, with a production profile that reduces the payback period and maximizes the initial return for our investors. The PFS mine plan produces more than 2 million ounces of gold over a projected mine life of 17 years, creating a solid pathway towards mine permitting, project advancement and a future construction decision.”

“We believe there is significant upside for project optimization and resource growth going into a full feasibility study. Growth will be driven by new resource discovery from multiple target areas, upgrade of inferred mineral resources into the measured and inferred mineral resource categories and assessment of gold production potential from the reclaimed heap leach pad. Work in many of these areas is already beginning to yield encouraging results. We look forward to keeping the market apprised of our progress.”

Table 1: Key Black Pine Project Metrics

¹ “koz” refers to thousand ounces ²Refer to “Non-GAAP Measures and Other Financial Information” below

Conference Call and Webcast
Liberty Gold will be hosting a conference call and webcast to discuss the results of the PFS:

Webcast
Date:                                                    Thursday, October 10th
Time:                                                    11:00 am Eastern Time (8:00 am Pacific Time)

Please register for the webcast here: https://edge.media-server.com/mmc/p/ve6u4vr3

Conference Call
Toll-free in U.S. and Canada:   +1.888.596.4144
International callers:                  +1.646.968.2525
Conference ID:                               5058354
_{The conference call will be archived for later playback until October 17, 2024, and can be accessed by dialing Toll-free in U.S. and Canada: +1.800.770.2030 or Toll: +1.609.800.9909 using the Playback ID 5058354#.}

Project Economics Sensitivity Analysis
A sensitivity analysis was carried out on the after-tax financial metrics from the PFS base case to illustrate the Project’s sensitivity to commodity prices, initial capital and operating costs. Results are illustrated in Tables 2 and 3 (all figures in US dollar millions unless otherwise indicated).   

Table 2: After-tax NPV (5%), IRR and Payback Sensitivity to Gold Price

Table 3: After-Tax NPV (5%) and IRR sensitivity to Changes in Project Parameters & Gold Price

PFS Overview

The PFS incorporates geological, assay, hydrological, metallurgical, geotechnical, environmental and cultural information collected by Liberty Gold and its consultants and contractors, as well as extensive historic information captured from the previous mining operation on site.

Project Description

Black Pine hosts a large, Carlin-style, sedimentary-hosted oxide gold system, located in southeastern Cassia County, southern Idaho, USA, a 2-hour drive north from Salt Lake City, Utah. The currently identified surface footprint of the gold mineralization extends over an approximate 18 square kilometre (“km^2”) target area contained within Liberty Gold’s 69.3 km² project area of which 40.6 km² are permitted for exploration activities including drilling. (see press releases dated June 11, 2024 and September 25, 2024).

Black Pine is a past-producing open-pit, ROM heap leach mine, active from 1991 to 1997 when Pegasus Gold produced 435,000 oz of gold and 189,000 oz of silver from five open pits. Road access to the site is well established with the I-84 highway running directly adjacent to the project area and existing power at the mine gate. The location is sparsely populated, semi-arid, with no surface water exposed in the project area and no threatened or endangered species.

The production from the Project is subject to a 0.5% net smelter royalty (with a 50% buyback right to the Company, which has been assumed to be exercised in the economic analysis).

For a 3D video of a run through of the site layout, click on this link: https://youtu.be/ScIQ4cF_QwE 

Mining

The PFS utilizes open pit mining with mine planning based on economic pit shells generated by mine planning software. Ore feed to the leach pad is planned at 50,000 tonnes per day or 18.3 million tonnes per year for the estimated 17-year life of mine. There will be a 9-month pre-production period to provide access to higher grade ore horizons for early years processing. There are significant opportunities to improve mid-life production through resource growth and conversion ahead of the feasibility study. Lower-grade ores are stockpiled throughout the mine life and re-handled on to the heap to optimize gold production.

Total material movement averages 47 million tonnes per year over life of mine, with a peak at 55 million tonnes per year. Ore is sourced from two large multi-phase open pits, together with six smaller ‘satellite’ open pits. The strip ratio is favourably low at 1.3:1 (waste:ore), resulting from the extensive envelope of lower-grade oxide gold mineralization surrounding the higher-grade horizons and permeating through the mass of carbonate host rock units. 

The open pit mining at Black Pine is designed as a conventional, owner-operated surface mining operation, where the owner is responsible for planning and executing direct mining and all mine fleet maintenance, equipment mobilization, supervision, labor, geology and grade control. Blasting would be performed as a contract service. The PFS mine plan proposes a blended mine fleet of 400 tonne-class hydraulic excavators, 100 tonne-class hydraulic excavators, 11.5 cubic metre bucket front end loaders, 136 tonne off-highway haul trucks and 64 tonne off-highway haul trucks. 

Metallurgy

Six phases of metallurgical testing have been completed on Black Pine oxide ores, using bulk samples and predominantly, large diameter PQ core. A total of six bulk samples and 174 variability composites have been tested at Kappes, Cassiday & Associates in Reno, Nevada and included extensive geo-metallurgical characterization, comminution testing, bottle roll and column leach testing and environmental characterization of head samples and column residues. The oxide ores respond very well to cyanide leaching with typically >80% of the leachable gold extracted in the first 10 days of laboratory column leaching. Modeling of column test data support ROM leaching  as the preferred processing method, with a primary leach cycle of 90 days.

Commercial scale ROM gold and silver grade-recovery models have been developed for the geo-metallurgical oxide ore types, defined by gold cyanide solubility, location and lithology. The limited amount of mineralized carbonaceous material present at Black Pine has been extensively modelled and has been treated as waste rock.

Processing

Gold will be recovered using run-of-mine (no crushing, screening or agglomeration) heap leaching with material placed by mine haul truck stacking onto a single heap leach pad sited at the eastern extent of the Project. The pad is designed in four phases to contain up to 315 million dry tonnes of leachable material, with operational segregation of the oxide ore types in isolated cells on the leach pad to prevent comingling.

ROM-sized ore will be stacked in 10 metre (“m”) vertical lifts to a maximum heap height of 100 m. Lime will be added prior to truck dumping on the pad, ore will be ripped and subsequently leached with dilute cyanide solution using conventional irrigation. Leach solution will flow by gravity through the heap and be conveyed to the process solution tank. No surface ponds other than an emergency event pond are included in the PFS design.

Leached gold will be recovered from solution using a 3-train, activated carbon adsorption circuit. The gold (and any silver) will then be stripped from carbon using a desorption process followed by electrowinning to produce a precipitate sludge, which is refined on site in a furnace to produce final doré bars.

Process water is drawn from five existing, active water wells, located within 5 kilometres from the processing facility. Power is grid supply over an existing 25 kV line to the mine gate.  

Cost Estimates

Capital and operating costs were estimated by M3 Engineering for the processing and general and administration components of the PFS costs estimate; all mining costs were estimated by AGP Mining.

The capital costs estimate presented in Table 4, is considered to have overall accuracy of -20% / +25%.

Table 4: Black Pine PFS Capital Cost Breakdown

<sub>1. 13 million tonnes of ore stockpiled during pre-stripping
2. Includes down payment for lease financing of mine equipment
3. Excludes reclamation and closure costs estimated at $54 million</sub>

A summary of the operating costs estimate for Black Pine is presented in Table 5. Operating costs are based on ownership and owner’s direction of all mine and processing equipment and facilities. Reclamation and closure costs estimated from first principles at $54 million and validated with a Nevada Standardized Reclamation Cost Estimator model, are additional to sustaining capital costs illustrated in Table 4 and are included in the Project economic evaluation.

The mining costs are based on quotes for mining equipment and estimated owners’ costs. The PFS base case assumes the mine fleet is leased with the mine operating cost carrying the annual lease payment. Processing costs were estimated by M3 Engineering and NewFields, based on first principles, assuming the owner employs and directs all operations and maintenance for all site facilities. Labor costs were estimated using Idaho labor rates and specific staffing requirements. Unit consumption of materials, consumables, power and water were estimated from first principles.

Table 5: Black Pine Operating Cost Estimate

_{1.  Assumes lease financing of mine equipment}

Operating costs have an effective date of June 1, 2024, and are presented with no added contingency.

Sustainability

At Liberty Gold, sustainability is integral to our operations and decision-making, ensuring long-term value for stakeholders. Since 2021, we have published annual sustainability reports, reinforcing our commitment to transparency and accountability. At Black Pine, we engage regularly with stakeholders through updates, tours, and local events. We are deeply committed to preserving biodiversity, supporting sage grouse habitat restoration and funding a four-year mule deer migration study with Idaho Fish and Game. Sustainability initiatives included in the Black Pine PFS include renewable energy supply through local utility, no net increase in water draw, habitat mitigation, and waste rock backfill. We propose to explore mine fleet electrification and other key sustainable initiatives during feasibility to minimize our carbon and project footprint.

Further Opportunities

Optimization of the Black Pine Project will be evaluated ahead of and during feasibility. This includes:

• Potential to significantly increase the size and confidence of the resource at Black Pine. Approximately 60% of the project area has not yet been drill-tested:
  • The infill drilling and step-out drilling at Rangefront, M-Zone and Discovery, if successful, could expand the mineral resource and convert inferred mineral resource into the measured and indicated mineral resource categories.
  • Evaluation of the historic heap to determine the nature and extent of residual gold in the heap and its amenability to further processing.
  • New discovery from a currently on-going drill exploration program on seven high-priority targets across the project area.
  • The resulting feasibility mine plan would likely change based on continued exploration success and resource expansion.
• Mine planning and design focusing on cut-off grade optimization, stockpiling strategy, bulk-material movement options (e.g. conveyors) for ore to the heap, haul road layout optimization and the potential to expand leaching capacity to 24 million tonnes per year.
• Use of electric and potentially autonomous mining equipment in the open pits (shovels, drills & haul trucks).
• Further define the options for renewable energy, such as solar, to supply site requirements, particularly important for future electrification options.

Next Steps

• A Mine Plan of Operations is currently being drafted and is planned for submission to US federal and cooperating agencies in the fourth quarter of 2024 to commence formal mine permitting under the National Environmental Policy Act (“NEPA”).
• Advance all baseline studies required to support the mine permit applications.
• Technical work to further advance and de-risk the project towards feasibility level will continue into 2025 and the Company intends to conduct a feasibility study to provide the basis for a construction decision. Key areas of work include:
  • Resource upgrade and growth,
  • Evaluate historic heap potential as a future ore supply,
  • Refine geo-metallurgical models and complete metallurgical testing required,
  • Completion of additional studies on groundwater sources & quality, geotechnical data collection and design for the heap, pit slopes and rock waste facilities, and
  • Feasibility level rock geochemical characterisation for environmental studies.
• An NI 43-101 compliant technical report on the Black Pine PFS will be available on SEDAR within 45 days of this release (the “Technical Report”), including all qualifications, assumptions and exclusions that relate to this PFS. The Technical Report is intended to be read as a whole and sections should not be read or relied upon out of context.

Black Pine Mineral Reserve Estimate

Mineral Reserves have been estimated for a conventional, multiple pit, open pit mining operation utilizing surface waste rock storage facilities, pits backfill, extensive ore stockpiling and direct haul to a single ROM heap leach facility. Pit slope angles were defined by geotechnical evaluation supported by hydrological analysis.

Table 6: Black Pine Mineral Reserve Estimate

_Notes:

• _{The Mineral Reserve estimate was prepared by AGP Mining Consultants Inc., Toronto, Canada (“AGP”) and has an effective date of June 1, 2024. The Qualified Person responsible as defined under NI 43-101 for the Mineral Reserve estimate is Todd Carstensen RM-SME, Principal Mine Engineer and independent of Liberty Gold.}
• _{Mineral Reserves reported are consistent with the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014).}
• _{Mineral Reserves are converted from Mineral Resources through the process of pit optimization, pit design, production scheduling, stockpiling and cut-off grade optimization.}
• _{Mineral Reserves are reported to a cut-off grade of 0.10 g/t gold and are based on a gold price of US$1,650/oz.}
• _{Metallurgical recovery of gold is based on a variable gold leach recovery model derived from extensive metallurgical studies. All mineralized carbonaceous materials have been treated as waste.}
• _{Mine dilution was estimated based on a 1.0 m skin applied to ore to waste contacts.}
• _{Units are metric tonnes, metric grams & troy ounces; “Au” = gold.}
• _{The estimate of mineral reserves may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.}

Black Pine Mineral Resource Estimate

The Study has updated the Black Pine Mineral Resource estimate. Key changes relative to the previous Mineral Resource estimate (see press release dated February 15, 2024) are:

• Updated metallurgical recovery model for gold,
• Change in resource cut-off grade,
• Increase in constraining pit shell value ($2,000/oz gold price), and
• Revision to low-grade (<0.2 g/t) block resource classification.

Table 7: Black Pine Mineral Resource Estimate

_Notes:

• _{The Mineral Resource estimate was prepared by SLR Consulting (Canada) Ltd., Toronto, Canada (“SLR”) and has an effective date of June 1, 2024. The Qualified Person responsible as defined under NI 43-101 for the Mineral Resource is Valerie Wilson, M.Sc., P.Geo., Principal Resource Geologist, a fulltime employee of SLR and independent of Liberty Gold.}
• _{Mineral Resources reported are consistent with the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014).}
• _{Mineral Resources are reported within conceptual open pits estimated at a gold cut-off grade of 0.10 g/t, using the PFS pit slope parameters, a long-term gold price of US$2,000 per ounce and the PFS variable gold leach recovery model derived from extensive metallurgical studies. All carbonaceous material and gold mineralized material falling outside the conceptual open pits is considered waste rock and is excluded from resource classification.}
• _{Bulk density is variable by rock type.}
• _{Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.}
• _{Mineral Resources are reported inclusive of Mineral Reserves.}
• _{Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grades, and contained gold content.}
• _{Units are metric tonnes, metric grams & troy ounces; “Au” = gold.}
• _{The estimate of Mineral Resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.}
• _{Totals may not match due to rounding.}

Table 8: Black Pine Mineral Resource Cut-off Grade Sensitivity

_{*Please refer to notes accompanying Table 7, above. The reporting Mineral Resource estimate is shown in bold font. Tonnes, grade and ounces are expressed within a series of nested pit shells generated at $2,000/ounce gold whereby only the material above each cut-off grade is processed.}

Qualified Persons

This announcement has been reviewed and approved for release by Pete Shabestari, Vice President of Exploration at Liberty Gold and the Company's designated Qualified Person within the meaning of NI 43-101. Mr. Shabestari has verified the data disclosed including sampling, analytical, and test data underlying the drill results, using a variety of techniques including comparison against independently sourced assay certificates, site visit investigations, and digital based verification tests, and he consents to the inclusion in this release of said data in the form and context in which it appears.

The PFS was prepared by a team of independent industry experts.  The independent Qualified Persons for the “NI 43-101 Technical Report and Pre-feasibility Study for the Black Pine Project, Idaho, USA”, which will be filed within 45 days of the date of this press release, and which will be available on SEDAR+ (www.sedarplus.ca) and on Liberty Gold’s website, are as follows:

Table 9: Qualified Persons

Independent Third-Party Review

The heap design from NewFields was subject to independent third-party review by Tierra Group International Ltd. The financial model from M3 Engineering was subject independent third-party review by Hive Advisory Inc. All material recommendations arising have been incorporated into the Study.

Non-GAAP Measures and Other Financial Measures

Alternative performance measures are furnished to provide additional information. These non-GAAP performance measures are included in this news release because these statistics are key performance measures that management uses to monitor performance, to assess how the Company is performing, to plan and to assess the overall effectiveness and efficiency of mining operations. These performance measures including Initial Capital Costs, Total Cash Costs, and All-In Sustaining Costs, do not have a standard meaning within International Financial Reporting Standards (“IFRS”) and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. Each of these measures used are intended to provide additional information to the user and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

The non-IFRS financial measures used in this news release and common to the gold mining industry are defined below.

Initial Capital Costs

Initial Capital Cost is defined as capital required to develop, construct and to bring the Project to commercial production.

Total Cash Costs and Total Cash Costs per Gold Ounce

Total Cash Costs are reflective of the cost of production. Total Cash Costs reported in the PFS include mining costs, processing, on-site general & administrative costs, treatment & refining costs, and royalties. Total Cash Costs per Ounce is calculated as Total Cash Costs divided by total LOM payable gold ounces.

All-in Sustaining Costs (“AISC”) and AISC per Gold Ounce

AISC is reflective of all of the expenditures that are required to produce an ounce of gold from operations. AISC reported in the PFS includes Total Cash Costs, sustaining capital, closure costs and Idaho Mine License Tax. AISC per ounce is calculated as AISC divided by total LOM payable gold ounces.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit www.libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

_{All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Black Pine, expected gold and silver recoveries from the Black Pine mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Black Pine and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources and mineral reserves, the availability of drill rigs, the accuracy of the PFS, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.}

_{Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca .}

_{The Mineral Resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.}

_{Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.}

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce it has closed the previously announced sale of its interest in the TV Tower copper gold project (“TV Tower” or the “Project”), located in Biga Province, northwest Türkiye (see press release dated April 17, 2024) and has received US$3.7 million representing the Company’s share of the payment due upon closing.  There is no share dilution associated with this asset sale.

Liberty Gold’s share of the remainder of the gross proceeds will be paid in two stages as follows:

• US$2.2 million on October 4, 2025.
• US$2.6 million on October 4, 2026.

Cal Everett, CEO and Director of Liberty Gold commented, “The closing of the TV Tower transaction has completed the monetization process of all of Liberty Gold’s Turkish assets and removes the approximate one million dollar annual funding draw. It enables the Company to focus solely on advancing its projects in the Great Basin. The Company is nearing completion of a Pre-Feasibility study of the Black Pine Oxide Gold Project in Idaho.”

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including but not limited to; the payment of future staged proceeds of the Transaction, the exploration and development of open pit oxide deposits in the Great Basin, and the discovery and advancement of gold deposits in the Great Basin. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct. 

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing of the publication of any updated resources; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca. 

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. 

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce the receipt of a Hardrock Prospector Permit (“HPP”) covering four areas located directly adjacent to the Company’s Black Pine Oxide Gold Project (“Black Pine”).

The newly permitted areas are administered by the United States Government under the Weeks Act (1911) and as such are not eligible for unpatented mineral claims. Mineral prospecting can be licenced under the Mineral Leasing Act for Acquired Lands (1947), through a Hardrock Prospector Permit, which provides exclusive right to prospect and explore for leasable mineral deposits. Mineral discovery can lead to a mineral lease to enable future mining. After an extensive process of engagement with the United States Forest Service (“USFS”) and the Bureau of Land Management (“BLM”), the Company is delighted to receive approval to explore these areas.

The four HPP areas add 7.1 square kilometres (“km²”) of key exploration and development ground in the centre and south of the known mineralized area, expanding the Black Pine project area by 10% to a total of 69.3 km². (See FIGURE 1 below)

The recently received fourth amendment to the Black Pine Plan of Operations (see press release dated June 11, 2024) has approved exploration drill access to 3.4 km² of these new HPP areas. It is anticipated that initial drilling will commence in Q4 2024.

These permits pave the way for continued exploration opportunities in the prospective southern extension area at Black Pine that will be the focus of exploration over the next few years. Further amendments to the exploration Plan of Operations will allow access for drilling on the areas not included in the current approval.

Pete Shabestari, Vice President Exploration for Liberty Gold stated, ”We wish to acknowledge the extensive efforts made by the USFS and the BLM to support Liberty Gold in the permitting process for Black Pine. Hardrock Prospector Permits are not a typical mineral right in the Great Basin and achieving this important outcome required a cooperative and a collaborative approach. Having these new areas available to the exploration team is key for uncovering the extensions to the mineralized system at Black Pine and discovering additional gold oxide resources.”    

FIGURE 1 – BLACK PINE PROJECT AND PERMITTING AREA MAP

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws, including statements or information concerning; the expansion of the mineralized system at Black Pine, the potential discovery of additional gold ounces, approvals for future amendments to any plans of operations, the timing and location of any exploration drilling, and the potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally;  delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at  www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce the  identification of a high-grade antimony (“Sb”) mineralizing system that outcrops along the eastern extension of the Goldstrike Oxide Gold deposit (“Goldstrike”), Southwest, Utah.

The Company has completed a staking program to the east of the main Goldstrike claim block to include all areas with potential for this mineralized system. Approximately 3.2 square kilometers of new ground has been acquired. See Figure 2 below.

The Antimony Ridge prospect is a known gold mineralized zone that was left under-explored by Liberty Gold due to its focus on drilling out the main oxide gold discovery area to the west at Goldstrike. Recent recognition of antimony as a critical mineral in the USA prompted the Company to re-assess its historic metals databases and the significant potential of the Antimony Ridge mineralization was identified. Additionally, elevated antimony levels were noted in drill hole assays on the Goldstrike Oxide deposit, up to 650 parts per million (0.065%) Sb. 

The mineralization at Antimony Ridge occurs as exceptionally large, bladed to massive stibiconite in a jasperoid breccia with gold. Stibiconite, (Sb₃O₆[OH]), is an antimony oxide formed from the in-situ oxidation of stibnite (Sb₂S₃), the primary antimony sulfide mineral. See images in Figure 1 below:

Figure 1: Stibiconite crystals

The stibiconite occurs in a large, bedding-parallel jasperoid breccia with a sampled strike length of 450 meters (“m”). This mineral contact has been identified at multiple locations throughout the property and current field work has identified additional zones of antimony mineralization along fault offsets of this contact.

Limited gold-focused surface sampling by the Company in 2015, followed the exposed jasperoid breccia body and identified surface antimony values up to 2.2% Sb, with gold grades up to 0.85 grams per tonne. The apparent thickness of the mineralized zone is up to 12 m, and it remains open along the east-west strike and down dip to the north. The jasperoid can be traced along this contact for more than 2 kilometres and there is no record of any exploration drilling along the mineralized jasperoid zone in this eastern area.

The Antimony Ridge mineralization occurs higher in the stratigraphy than at the main gold zone, along an easily traceable contact, which is currently being mapped & sampled within these newly acquired lands.

Historic records indicate small-scale production of 10 tons of antimony ore in the 1970s from the Lejaiv Unite Mine located on Antimony Ridge. Material was mined from two small open pits. Anecdotal evidence indicates the material mined was stibnite ore and contained 10% Sb.

Cal Everett, CEO and Director commented, “It is the nature of the exploration business to find what you were not looking for in plain sight, simply due to retention of archives that suddenly become relevant.”

Figure 2: Goldstrike New Claims Staking Map

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws,  and the  potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally;  delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at  www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce it has received approval from the Bureau of Mining and Petroleum Affairs of the Ministry of Energy and Natural Resources of the Turkish Government for the previously announced sale of its interest in the TV Tower copper gold project (“TV Tower” or the “Project”), located in Biga Province, northwest Türkiye (see press release dated April 17, 2024). The transaction is expected to close in September.

Cal Everett, CEO and Director of Liberty Gold commented, “The government approval of the sale of TV Tower represents the final approval required for the transaction, which upon closing will complete the monetization process of all of Liberty Gold’s Turkish assets and establish the Company as a pure Great Basin gold company advancing two Carlin-style gold deposits.”

Since signing the share purchase agreement, Liberty Gold has increased its interest in the Project to 73.7% through sole funding of certain project expenditures.  Liberty Gold’s share of the US$11.5 million in gross proceeds has now increased to US$8.5 million which will be paid in three stages as follows:

• US$3.7 million on the closing date.
• US$2.2 million on the first anniversary of the closing date.
• US$2.6 million on the second anniversary of the closing date.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

_{All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address the satisfaction of the closing conditions of the Transaction, including the approval of the Ministry, the payment of gross proceeds of the Transaction, the exploration and development of open pit oxide deposits in the Great Basin, and the discovery and advancement of gold deposits in the Great Basin. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, the timing of the closing of the sale of TV Tower, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.} 

_{Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; current economic conditions; future prices of commodities; the failure of contracted parties to perform; delays in finalising the necessary documentation to close the transaction on TV Tower; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.} 

_{Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.} 

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”), is pleased to announce its financial and operating results for the three and six months ended June 30, 2024. All amounts are presented in United States dollars unless otherwise stated.

SECOND QUARTER OF 2024 AND RECENT HIGHLIGHTS

• On April 29, 2024, we announced a non-brokered private placement for C$9.5 million, and on April 30, 2024, announced that the private placement was upsized to C$12.5 million^[1] (the “Private Placement”). Under the Private Placement the Company sold 35,715,362 units of the Company (the “Units”) at an issue price of C$0.35 per Unit. Each Unit consists of one common share of Liberty Gold (each, a “Common Share”) and 1/2 of a Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at a price of C$0.45 for a period of 24 months following completion of the Private Placement.
• On April 17, 2024, we announced the signing of a definitive agreement to sell the TV Tower Project in Türkiye, for $11.5 Million on a 100% Basis. The Company’s 73.7% share of the $11.5 million in gross proceeds ($8.5 million) will be paid in three stages as follows^[2]:
  • $3.7 million on the closing date.
  • $2.2 million on the first anniversary of the closing date.
  • $2.6 million on the second anniversary of the closing date.
• On June 11, 2024^[3], we announced the appointment of a Director of Regulatory Affairs and Sustainability, Matthew Zietlow, to advance mine permitting with the federal and state agencies. Mr. Zietlow has over 30 years of experience in mine permitting, operational compliance, reclamation and closure at multiple active and idled locations throughout the western United States. He has held senior roles in community affairs, media relations, and academic advisory boards related to the mining sector, and also served as State chair of the Nevada Mining Association Executive Environmental Committee.

At the Black Pine project (“Black Pine”),

• In June 2024^[4], we commenced a 20,000 metre (“m”) reverse circulation drill program focusing on seven new high-priority targets aimed to significantly enhance the Black Pine’s resource base and unlock new areas of oxide gold mineralization.
• The Company progressed the pre-feasibility study, advancing engineering on infrastructure, heap leach pads, water & power supply and ran numerous iterations of mine development options, flexing production rate, cut-off grade, optimal pit shell pricing, stockpiling strategy and total material movement rates. During the quarter, geotechnical, hydrological, metallurgical studies and gold/silver leach recovery models were concluded and preliminary site, infrastructure & process plant layouts were completed.
• On June 26, 2024^[5], the Company hosted a formal mine permitting kick-off meeting with key representatives from the US Forest Service, the Bureau of Land Management, and the Idaho Department of Lands. The meeting was led by Matt Zietlow, Director of Regulatory Affairs and Sustainability.
• On June 11, 2024³, we announced the approval of the fourth plan of operations amendment, resulting in an increase to the permitted exploration area by 51% to 37.3 square kilometres (“km²”). The amendment opens up large areas that previously had timing restrictions for exploration activity. This greatly facilitates drill access to several lower-elevation areas, in particular South Rangefront and M Zone, for unrestricted, year-round drilling.
• The Company has additionally staked 46 unpatented mining claims³ in the southwest of the project area, totalling 3.3 km². These claims are contiguous with the existing project area and cover the projected southern extension of the prospective middle plate host rock carbonate sequence, identified by field & structural mapping and soil geochemistry. The newly acquired ground expands the total project area to 69.3 km².

^[1] See press releases dated April 29, and April 30, 2024.
^[2] See press release dated April 17, 2024.
^[3] See press release dated June 11, 2024.
^[4] See press release dated July 17, 2024
^[5] See news release dated July 3, 2024

SELECTED FINANCIAL DATA

The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the three months ended June 30, 2024, as prepared in accordance with IFRS Accounting Standards – IAS 34: Interim Financial Statements.

A copy of the Interim Financial Statements is available on the Company’s website at libertygold.ca or on SEDAR+ at www.sedarplus.ca.

The information in the tables below is presented in $’000s, except ‘per share’ data:

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

_{Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.}

_{This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements or information concerning, future financial or operating performance of Liberty Gold and its business, operations, properties and condition; planned de-risking activities at Liberty Gold’s mineral properties; the potential quantity, recoverability and/or grade of minerals; the potential size of a mineralized zone or potential expansion of mineralization; proposed exploration and development of Liberty Gold’s exploration property interests; the results of mineral resource estimates and timing of pre-feasibility studies; and the Company’s anticipated expenditures.}

_{Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, timing or results of the publication of any mineral resources, or pre-feasibility study, the availability of drill rigs, the closing of the sale of TV Tower, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.}

_{Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing or results of the publication of any mineral resources , pre-feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing, sale of TV Tower or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024, in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.}

_{Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.}

_{Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources}

_{The information in this MD&A, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.}

_{Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Reserves (“CIM Definition Standards”), adopted by the CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States Securities and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”) under the United States Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.}

Drilling Commenced on Seven New High-Priority Targets

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce the commencement of a 20,000 metre (“m”) drill program at its Black Pine Oxide Gold Project (“Black Pine” or the “Project”) in southeast Idaho. This strategic campaign, focused on seven new high-priority targets, aims to significantly enhance the Project’s resource base and unlock new areas of oxide gold mineralization within the recently expanded exploration permit area.

This drilling initiative follows a major permitting milestone for Liberty Gold. A recent amendment to the existing exploration permit (see press release dated June 11, 2024) from the United States Forest Service (“USFS”) has expanded the permitted exploration area by 51%, bringing it to a total of 37.3 square kilometres (“km²”) (the “Expanded Permit Area”). The Expanded Permit Area opens up access to previously unexplored regions with high potential for the discovery of oxide gold mineralization.

The amendment to the permit also aligns access criteria across the USFS and adjacent Bureau of Land Management lands and opens up large areas that previously had timing restrictions for exploration activity. This greatly facilitates drill access to several lower-elevation areas, in particular South Rangefront and M Zone, for unrestricted, year-round drilling. With two drills on site, we anticipate drilling 3,000 m to 3,500 m per month.

“The commencement of this drill program is a pivotal step in our exploration strategy at Black Pine,” commented Pete Shabestari, Vice President of Exploration at Liberty Gold. “Our focus on these high-priority targets is driven by our confidence in the geological potential of these areas. We have been eagerly awaiting access to these targets and are excited to be once again drilling for new discovery and resource growth at Black Pine.”

Phase 1 Drill Program

The first reverse circulation (“RC”) drill rig arrived on site at Black Pine in mid-June and has commenced the 20,000 m program operating on a double shift; a second RC rig arrived on site this week and will further accelerate the exploration activities.

FIGURE 1 – BLACK PINE PROJECT DRILL TARGET AREAS MAP

Link to Figure 1 - Black Pine project drill target areas map: https://www.libertygold.ca/images/news/2024/BlackPine.jpg

Evaluate Seven High-Priority Targets

The Expanded Permit Area includes seven compelling previously untested targets that are now open to exploration drill-testing. These targets range from first tests of prospective horizons within the strongest linear mineralization trends on the property, to gold-in-soil anomalies ‘leaking’ through Upper Plate cover rocks, suggestive of strong gold systems hosted within the underlying Middle Plate rocks – similar targets have recently yielded +1 million ounce oxide gold discovery at Black Pine (see press release date February 15, 2024). All targets have been selected based on their structural, geochemical and geological similarities to areas of adjacent gold mineralization.

Brief target summaries, not in order of priority or prospectivity, are presented below:

1. Section 36: Drilling has commenced on this ~1.1 km² target area, which is a step-out target from the Rangefront Zone (+1 million ounce resource). Gravity data indicates a number of shallow bedrock blocks in this area, any of which could host near-surface oxide gold mineralization.
2. Rangefront South: Gold-bearing jasperoids and a strong gold-in-soil anomaly within Upper Plate cover rocks, similar to the Rangefront Zone, present a compelling target area of ~1.1 km² to test the highly-prospective underlying Middle Plate rocks.
3. MEX: The M Zone Extension target (“MEX”) has only seen, sparse, shallow historic drilling, which did not test to target depth, similar to the early Discovery Zone target. Drilling will be focused on extending oxide gold resources to the north of M Zone, where the highest average grade deposit at Black Pine is open for extension to the north and west.
4. Back Range Connector: This ~0.6 km² target area, represents a 1 kilometre (“km”) long gap that is undrilled to prospective target horizons, lying within an overall 6 km linear trend, stretching from Back Range to Rangefront, which hosts ~75% of the gold resource at Black Pine.
5. Burnt Basin: This ~3.1 km² target area, with a thin cover of Upper Plate rocks, hosts multiple, strong and widespread gold-in-soil ‘leakage’ anomalies, similar to those observed within overlying Upper Plate rocks at Rangefront. Field mapping and drill target refinement is underway in this large, highly-prospective target which has not had any historic drilling.
6. Crescent: This ~3.4 km² target is anchored by 2023 drilling in the southeastern-most corner of the property that intercepted oxide gold mineralization within Middle Plate rocks, suggesting that the widespread mineral system at Black Pine is still open for further discovery back to the defined resource areas to the north and west. This target area is further bolstered by gravity data suggesting potential alteration in shallow blocks of Middle Plate rocks.
7. Black Pine Canyon: This ~0.5 km² target covers the southwestern extension of the E Zone, which hosts the highest-grade mineralization at Black Pine. Gold-bearing structures ‘roll-over’ at E Zone and switch from dipping predominantly to the northeast throughout the majority of the deposit, to dipping southwest into Black Pine Canyon, where a strong gold-in-soil anomaly overlies where these structures should outcrop.

Enhanced Geological Understanding

The drill program will contribute to a wider-scale geological understanding of the lithologic and structural controls at Black Pine. Detailed analysis of drilling will help refine the geological model, providing valuable insights into the distribution and characteristics of oxide gold mineralization in the Project area.

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws, the use of proceeds of the offering, the timing and completion of the Preliminary Feasibility Study, the timing and completion of formal mine permitting, and the  potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally;  delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at  www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce a significant milestone in the advancement of the Black Pine Oxide Gold project, located in southeast Idaho (“Black Pine” or the ”Project”). On Wednesday, June 26, the Company hosted a formal mine permitting kick-off meeting with key representatives from the US Forest Service (“USFS”), the Bureau of Land Management (“BLM”), and the Idaho Department of Lands. The meeting was led by Matt Zietlow, Director of Regulatory Affairs & Sustainability for Liberty Gold.

The primary focus of this meeting was to present a comprehensive framework and draft schedule to resource specialists from the attending federal and state agencies. This framework outlines the strategic plan and necessary deliverables required for the upcoming months in preparation for the formal submission of the Mine Plan of Operations (“MPO”) which is expected to be in Q4 of 2024. During the meeting, Liberty Gold provided an initial outline of the deliverables required from all parties, highlighting the key steps necessary for the timely and efficient completion of the MPO.

The Project represents a significant opportunity for economic growth and job creation in southern Idaho, while maintaining the highest standards of environmental stewardship and community relations. The Black Pine MPO will be supported by a pre-feasibility study on track for completion in Q3 of 2024.

“We are committed to ensuring a transparent and collaborative approach with the agencies, as we move forward with permitting the Black Pine Project,” commented Mr. Zietlow. “This meeting marks the beginning of a crucial dialogue with our regulatory partners and broader stakeholders to align our efforts and ensure all environmental and operational standards meet or exceed international best practices.”

Project activities for the second half of 2024 are focused in three key areas: 1) Completion of the pre-feasibility study, 2) Submission of the draft MPO to USFS to commence formally, the National Environmental Policy Act permitting process and, 3) Exploration drilling on priority target areas on recently permitted ground under the exploration Plan of Operations 4th amendment (see press release dated June 11, 2024) (the “PoO Amendment”).

As part of the approval of the PoO Amendment, the USFS modified the seasonal drilling access guidelines, based on newly acquired baseline data. Under the new, consolidated approval, the majority of the Discovery, Rangefront and M Zone targets are available for exploration drilling year-round. The remaining areas of the project have seasonal access controls, with improved consistency across the jurisdictions of USFS, BLM, and State wildlife management plans. The significantly improved seasonal access to the permitted area is a timely outcome, as we plan future exploration drilling, road construction and other field activities

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

 All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws, the use of proceeds of the offering, the timing and completion of the Preliminary Feasibility Study, the timing and completion of formal mine permitting, and the potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; the timing of the submission of the MPO and completion of the pre-feasibility study; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise

VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce voting results from the Company’s Annual General Meeting of Shareholders held on June 12, 2024 (the “Meeting”).

A total of 194,138,404 common shares were voted, representing the votes attached to 56.3% of all outstanding common shares. Shareholders voted in favour of the election of all director nominees. The percentage of votes cast for each is as follows:

The following were also approved by the shareholders:

The reappointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants as auditor of the Company:

Voting results are released in accordance with Toronto Stock Exchange requirements. Detailed voting results for the Meeting are available under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

Permitted Exploration Area Increases by 51% to 37.3 km² with Drilling to Commence mid-June 2024 on Seven High-Priority Targets

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce that it has received from the United States Forest Service (“USFS”) the final approval for an amendment to the current exploration Plan of Operations (“POO") at the Black Pine Oxide Gold Project, Idaho (“Black Pine”). This approval authorizes exploration activities on USFS lands where the Company holds mineral title but was not previously permitted to drill. Additionally, the Company has added a Director of Regulatory Affairs and Sustainability to advance mine permitting with the federal and state agencies.

Plan of Operations & Land Position Expansion

This new permit amendment from the USFS expands the current area for permitted exploration from 24.7 square kilometres (“km²”) by 51% to 37.3 km² (see Figure 1 below). This will allow the Company to explore seven new target areas where the prospective and permissive gold host-rock carbonate sequence (“middle plate”) is known to occur at shallow depth beneath sandstone cover rock (“upper plate”).

In addition, the amended POO further directs the Bureau of Land Management (“BLM”) to begin the process of issuing a Hardrock Prospector Permit (“HPP”) over contiguous, highly prospective, areas. The HPP would open a further 7.1 km² of ground to approved exploration activities.

The Company has additionally staked 46 unpatented mining claims in the southwest of the project area, totalling 3.3 km². These claims are contiguous with the existing project area and cover the projected southern extension of the prospective middle plate host rock carbonate sequence, identified by field & structural mapping and soil geochemistry. The newly acquired ground expands the total project area to 69.3 km².

Pete Shabestari, Vice President of Exploration commented, “We wish to thank the US Forest Service for processing this amendment diligently and efficiently. The amendment approval reflects the collaborative relationship established with the agencies over the last seven years and the well-managed and straightforward nature of permitting at Black Pine. With this new approval, we can now turn the exploration drill rigs towards gold discovery in these highly prospective target areas.”

FIGURE 1 – BLACK PINE PROJECT AND PERMITTING AREA MAP

For a map showing the Black Pine Project and Permitting area, click here: https://libertygold.ca/images/news/2024/June11/BlackPineMap06112024.pdf

Field Operations 2024

Field operations have begun at Black Pine in earnest, with the first reverse circulation (“RC”) drill rig expected to arrive mid-June and a second arriving in mid-July. The first phase of planned exploration drilling is budgeted at 20,000 meters (“m”) and will focus on new discovery in the seven outlying target areas with the key objective of growing the current Black Pine resource base which already exceeds 3 million ounces. (see press release dated February 15, 2024)

Appointment of Matt Zietlow as Director, Regulatory Affairs & Sustainability

The Company is also pleased to announce that Matthew Zietlow has joined Liberty Gold as the Director, Regulatory Affairs & Sustainability, based in Idaho. He will be responsible for leading the mine permitting process at Black Pine, with the objective of submission of the Mine Plan of Operations (“MPO”) to the respective regulatory agencies by Q4, 2024.

Mr. Zietlow has over 30 years of experience in mine permitting, operational compliance, reclamation and closure at multiple active and idled locations throughout the western United States. He has held senior roles in community affairs, media relations, and academic advisory boards related to the mining sector, and also served as State chair of the Nevada Mining Association Executive Environmental Committee.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws, the use of proceeds of the offering, the timing and completion of the Preliminary Feasibility Study, the timing and completion of formal mine permitting, and the potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the

interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce the closing of the non-brokered, private placement financing raising proceeds of C$12.5 million (the “Offering”).

Under the Offering, the Company sold 35,715,362 units of the Company (the “Units”) at an issue price of C$0.35 per Unit. Each Unit consists of one common share of Liberty Gold (each, a “Common Share”) and 1/2 of a common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one common share of Liberty Gold at a price of C$0.45 for a period of 24 months following completion of the Offering.

The proceeds of the Offering will be used for exploration drilling on seven new high-priority target areas identified at Black Pine, engineering, development, economic studies and permitting programs for the Company's projects in the Great Basin and for general working capital.

All securities issued under the Offering are subject to a four month and one day hold period which will expire on September 18, 2024.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”), is pleased to announce its financial and operating results for the three months ended March 31, 2024. All amounts are presented in United States dollars unless otherwise stated.

FIRST QUARTER OF 2024 AND RECENT HIGHLIGHTS

• On April 29, 2024, we announced a non-brokered private placement for C$9.5 million, and on April 30, 2024, announced that the private placement was upsized to C$12.5 million^[1] (the “Private Placement”). The Private Placement will consist of the issuance of up to 35,715,362 units of the Company (the “Units”) at an issue price of C$0.35 per Unit. Each Unit will consist of one common share of Liberty Gold (each, a “Common Share”) and 1/2 of a Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share of Liberty Gold at a price of C$0.45 for a period of 24 months following completion of the Offering.
• On April 17, 2024, we announced the signing of a definitive agreement to sell the TV Tower Project in Türkiye (“TV Tower”), for $11.5 Million on a 100% Basis. The Corporation’s 72.1% share of the $11.5 million in gross proceeds ($8.3 million) will be paid in three stages as follows^[2]:
  • $3.6 million on the closing date.
  • $2.2 million on the first anniversary of the closing date.
  • $2.5 million on the second anniversary of the closing date.

At the Black Pine project (“Black Pine”),

• On February 15, 2024, we announced an update to the independent mineral resource that was originally published on February 7, 2023^[3], (the “Updated Resource”). The new Updated Resource^[4] is reported using a $1,800/ounce constraining resource pit at a cut-off grade (“COG”) of 0.20 grams per tonne gold (“g/t Au”) and consists of:
  • An indicated resource of 3,206,000 ounces (“oz”) of oxide gold at an average grade of 0.49 g/t Au and totalling 203.8 million tonnes (“Mt”); and
  • An inferred resource of 325,000 oz of oxide gold at an average grade of 0.42 g/t Au and totalling 24.1 Mt.
    
    A high-grade subset of the Updated Resource contained within the 0.2 g/t Au resource pit, applying a COG of 0.5 g/t Au and consists of:
  • Indicated resources of 1,765,000 oz Au at an average grade of 1.01 g/t Au and totalling 54.2 Mt; and
  • Inferred resources of 143,000 oz Au at an average grade of 0.91 g/t Au and totalling 4.9 Mt.
    
    
• On March 14, 2024, we reported Phase 4 metallurgical column leaching results^[5]:
  • 36 variability composites from the Phase 4B and 4C test programs were selected from large-diameter (“PQ”) drill core from Discovery Zone, F Zone, Tallman, M Zone, and C/D Zone, representing a range of sample types across lithology and gold (“Au”) grade.
  • Key results include:
    • 84.2% weighted average gold extraction^[6] from column leach tests for the 31 oxide composites.
    • Gold extractions ranged from 52.7% to 94.2% for the oxide composites.
    • >80% of leachable gold extracted within 10 days.
      
      
• Reported core drill results from our 2023 core drill program:
  • Back Range - Drill holes LBP956C and LBP968C were the second and third best holes drilled to date at the Back Range Zone on a grams per tonne (“g/t”) x meter (“m”) basis and intersected strong grades of oxide gold mineralization, with the cyanide soluble assays showing an average of 74% and 87% recovery respectively. These drill results come from a highly deformed, strongly decalcified package of structurally thickened middle plate siltstones. Drill hole LBP969C was drilled for metallurgical testing purposes and hit as-expected results^[7].
  • J Zone – The first ever core hole drilled in J Zone, LBP1010C, was planned to add metallurgical data for this area and hit a thicker intercept than expected at 0.63 g/t  Au over 46.3 m beginning at 6.2 m depth. Initial cyanide solubility data indicate this hole is oxide with recoveries similar to other areas already tested at Black Pine. J Zone is a sparsely drilled resource area that has significant growth potential to the north, east and west^[8].
  • Tallman – One vertical hole was drilled in this large, near surface resource area to confirm other nearby metallurgical results and hit better than expected grades and widths of 0.51 g/t Au over 58.4 m and 0.85 g/t Au over 22.7 m including 1.83 g/t Au over 5.1 m. Overall this zone represents a near surface, 81.1 m thick interval with cyanide solubility data indicating this zone will also have high recoveries similar to other areas at Black Pine^[8].
  • F Zone – F Zone is a higher grade, near surface zone of mineralization extending 700 meters south from the main Discovery Zone toward the CD Pit area. The core hole drilled here returned 0.74 g/t Au over 40.3 m starting from surface, which is a slightly better intercept than a nearby Reverse Circulation hole (LBP660). Additional drilling in 2024 will be targeting infill and extensions to this zone^[8].

---

^{[1] See press releases dated April 29, and April 30, 2024.}

^{[2] See press release dated April 17, 2024.}

^{[3] See press releases dated February 7, 2023 and March 21, 2023 and “Technical Report on the Updated Mineral Resource Estimate at the Black Pine Gold Project, Cassia and Oneida Counties, Idaho, USA”, effective January 21, 2023, and signed March 10, 2023, prepared by Ryan Rodney, C.P.G of SLR Consulting (Canada) Ltd; Gary L. Simmons of GL Simmons Consulting LLC of Larkspur, Colorado, both independent Qualified Persons under National Instrument 43-101; and Moira Smith Ph.D., P.Geo.,  of Liberty Gold Corp;}

^{[4] See press release dated February 15, 2024}

^{[5] See press release dated March 14, 2024}

^{[6] Weighted average gold extraction is obtained using the following equation: (composite head grade (grams/tonnes) multiplied by extraction (%) for all head grades)/sum of all head grades for composites defined as “Oxide” mineralization having a cyanide gold solubility greater than 65%. Using arithmetic averages tends to over-represent low grade composites and under-represent high grade composites.  The arithmetic extraction average of the 36 column tests is 74.1%.}

^{[7] See press release dated January 18, 2024}

^{[8] See press release dated February 7, 2024}

SELECTED FINANCIAL DATA
The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the three months ended March 31, 2024, as prepared in accordance with IFRS Accounting Standards – IAS 34: Interim Financial Statements.
A copy of the Interim Financial Statements is available on the Company’s website at libertygold.ca or on SEDAR+ at www.sedarplus.ca.
The information in the tables below is presented in $’000s, except ‘per share’ data:

 

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

_{Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.}

_{This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements or information concerning, future financial or operating performance of Liberty Gold and its business, operations, properties and condition; planned de-risking activities at Liberty Gold’s mineral properties; the potential quantity, recoverability and/or grade of minerals; the potential size of a mineralized zone or potential expansion of mineralization; proposed exploration and development of Liberty Gold’s exploration property interests; the results of mineral resource estimates and timing of pre-feasibility studies; and the Company’s anticipated expenditures.}

_{Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, timing or results of the publication of any mineral resources, or pre-feasibility study, the availability of drill rigs, the closing of the sale of TV Tower the closing of the private placement, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.}

_{Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing or results of the publication of any mineral resources , pre-feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing, sale of TV Tower or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024, in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.}

_{Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.}

_{Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources}

_{The information in this MD&A, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.}

_{Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Reserves (“CIM Definition Standards”), adopted by the CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States Securities and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”) under the United States Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.}

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce the successful upsizing of its non-brokered, private placement financing from C$9.5 million to C$12.5 million (the “Offering”).

The terms of the Offering remain unchanged and will consist of the issuance of up to 35,715,362 units of the Company (the “Units”) at an issue price of C$0.35 per Unit. Each Unit will consist of one common share of Liberty Gold (each, a “Common Share”) and 1/2 of a common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share of Liberty Gold at a price of C$0.45 for a period of 24 months following completion of the Offering.

The proceeds of the Offering will be used for exploration drilling on seven high-priority target areas identified at the Black Pine Oxide Gold Project in Idaho, engineering, development, economic studies and permitting programs for the Company's projects in the Great Basin and for general working capital.

In line with the Liberty Gold’s commitment to efficient capital allocation, the Company confirms that no finders or broker fees are payable in this non-brokered offering.

“This upsize reflects the response from our investors and underscores the compelling value proposition of Liberty Gold,” stated Cal Everett, CEO and Director of Liberty Gold. “This additional capital will further strengthen our financial position as we advance Black Pine and pursue our strategic development objectives and our goal of building the resource to the  +5 million ounce range.”

The Offering is scheduled to close on or about May 17, 2024, and is subject to a number of conditions including, but not limited to, receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

The Offering will be conducted on a private placement basis and all securities issued under the Offering will be subject to a hold period which will expire four months and one day from the date of the applicable closing of the Offering. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S.

Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
 
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 
 
For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws, including statements that about the size, timing and completion of the Offering, the use of proceeds of the offering, the timing and completion of the Preliminary Feasibility Study, the timing and completion of formal mine permitting, and the  potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally;  delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at  www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce a non-brokered, private placement financing raising proceeds of up to C$9.50 million (the “Offering”).

The Offering will consist of the issuance of up to 27,142,858 units of the Company (the “Units”) at an issue price of C$0.35 per Unit. Each Unit will consist of one common share of Liberty Gold (each, a “Common Share”) and 1/2 of a common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share of Liberty Gold at a price of C$0.45 for a period of 24 months following completion of the Offering.

The proceeds of the Offering will be used for exploration drilling on seven high-priority target areas identified at Black Pine, engineering, development, economic studies and permitting programs for the Company's projects in the Great Basin and for general working capital.

In a strategic move to bolster its financial position, Liberty Gold confirms that no finders or broker fees are payable in this non-brokered offering.

Cal Everett, CEO and Director of Liberty Gold, “This strategic infusion of capital will significantly underpin efforts towards advancing our Black Pine Project, not only completing the Preliminary Feasibility Study in the third quarter, and initiating formal mine permitting in the fourth quarter, but also the initial drill evaluation of new exploration targets. We are grateful for the support of our investors and remain committed to delivering value as we progress towards our goal of building the resource to the +5 million ounce range.”

The Offering is scheduled to close on or about May 17, 2024, and is subject to a number of conditions including, but not limited to, receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

The Offering will be conducted on a private placement basis and all securities issued under the Offering will be subject to a hold period which will expire four months and one day from the date of the applicable closing of the Offering. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws, including statements that about the size, timing and completion of the Offering, the use of proceeds of the offering, the timing and completion of the Preliminary Feasibility Study, the timing and completion of formal mine permitting, and the potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce it has signed a share purchase agreement (the “Agreement”) for the sale of its interest in the TV Tower copper gold project (“TV Tower” or the “Project”), located in Biga Province, northwest Türkiye, to a foreign mining company.

Pursuant to the terms of the Agreement, Liberty Gold has agreed to sell its 72.1% interest in the company that holds the Project for gross proceeds to the Company of US$8.3 million in cash, to be paid in three stages over a two-year period (the “Transaction”).

Cal Everett, CEO and Director of Liberty Gold commented, “The sale of TV Tower strengthens Liberty Gold’s treasury position without diluting shareholder’s exposure to our flagship Black Pine project in Southern Idaho while also removing annual carrying costs related to the project. Liberty Gold will now be 100% Great Basin focused advancing two Carlin-style gold deposits.”

TERMS OF THE AGREEMENT:

Closing of the Transaction is subject to customary conditions including the approval of the local mining authorities.

Liberty Gold’s share of the US$11.5 million in gross proceeds (US$8.3 million) will be paid in three stages as follows:

• US$3.6 million on the closing date.
• US$2.2 million on the first anniversary of the closing date.
• US$2.5 million on the second anniversary of the closing date.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address the satisfaction of the closing conditions of the Transaction, including the approval of the Ministry, the payment of gross proceeds of the Transaction, the exploration and development of open pit oxide deposits in the Great Basin, and the discovery and advancement of gold deposits in the Great Basin. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct. 

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing of the publication of any updated resources; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca. 

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. 

Cautionary Note for United States Investors 

The information in this news release, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. 

Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. Shareholders in the United States are advised that, while such terms are defined in and required by Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility, pre-feasibility or other technical reports or studies, except in rare cases. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of contained ounces is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report resources as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in these documents may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC. 

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”), is pleased to announce its financial and operating results for the fiscal year ended December 31, 2023. All amounts are presented in United States dollars unless otherwise stated.

2023 AND RECENT HIGHLIGHTS

• On September 15, 2023, closed a non-brokered private placement raising proceeds of $5.7 million, anchored by a $5.0 million strategic investment by Wheaton Precious Metals Corp. (“Wheaton”)^[1].
• On September 5, 2023, published second annual Environmental, Social and Governance report: Developing Gold Deposits in a Responsible and Sustainable Manner^[2].
• On November 8, 2023, announced the appointment of Cal Everett as Chief Executive Officer and Jon Gilligan as President, effective November 10, 2023^[3].

At the Black Pine project (“Black Pine”),

• On February 15, 2024, announced an update to the independent mineral resource that was originally published on February 7 2023^[4] (the “Updated Resource”). The new Updated Resource^[5] is reported using a $1,800 USD constraining resource pit at a cut-off grade (“COG”) of 0.20 grams per tonne (“g/t”) gold (“Au”) and consists of:
  • An indicated resource of 3,206,000 ounces (“oz”) of oxide gold at an average grade of 0.49 g/t Au and totalling 203.8 million tonnes (“Mt”); and
  • An inferred resource of 325,000 oz of oxide gold at an average grade of 0.42 g/t Au and totalling 24.1 Mt.

A high-grade subset of the Updated Resource contained within the 0.2 g/t Au resource pit, applying a COG of 0.5 g/t Au and consists of:

• Indicated resources of 1,765,000 oz Au at an average grade of 1.01 g/t Au and totalling 54.2 Mt; and
• Inferred resources of 143,000 oz Au at an average grade of 0.91 g/t Au and totalling 4.9 Mt.

• On September 11, 2023, announced the purchase of the existing 0.5% Net Smelter Royalty (“NSR”) at Black Pine from a private company, and the sale of a new 0.5% NSR to an affiliate of Wheaton, including an option to repurchase 50% of the royalty for US$3.6 million at any point in time up to the earlier of commercial production at Black Pine, or January 1, 2030, which would reduce the NSR to 0.25%¹.
• On September 6, 2023, announced the submission of a Mining Pre-Plan of Operations to US Federal Agencies, and the selection of M3 Engineering & Technology as lead engineer for the pre-feasibility study^[6].
• Completed 2023 RC exploration drilling program as of December 31, 2023, for a total of 27,461 meters drilled. The drill program targeted resource upgrade and expansion over several areas of the deposit, as well as some reconnaissance drilling in new areas along the eastern and southern margins of Rangefront and the northern margin of Back Range.
• On July 24, 2023, announced a new discovery area “Rangefront South” located approximately two kilometres to the south of the main Rangefront Zone, with two reportable intercepts of oxide gold: 0.37 g/t Au over 9.1 m, and 0.31 g/t Au over 7.6 m in drill hole LBP931^[7].
• Reported weighted average 86.9% gold extraction^[8] from 24 Phase 4A metallurgical column leach tests on Rangefront Zone oxide gold mineralization, showing that the Rangefront Zone comprises the most leach-amenable oxide material at Black Pine.

SELECTED FINANCIAL DATA

The following selected financial data is derived from our Annual Financial Statements and related notes thereto (the “Annual Financial Statements”) for the year ended December 31, 2023, as prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board.

A copy of the Annual Financial Statements is available on the Company’s website at www.libertygold.ca or on SEDAR+ at www.sedarplus.ca.

The information in the tables below is presented in $’000s, except ‘per share’ data:

ABOUT LIBERTY GOLD                                                                                                         

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

_{Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.}

_{This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements or information concerning, future financial or operating performance of Liberty Gold and its business, operations, properties and condition; planned de-risking activities at Liberty Gold’s mineral properties; the potential quantity, recoverability and/or grade of minerals; the potential size of a mineralized zone or potential expansion of mineralization; proposed exploration and development of Liberty Gold’s exploration property interests; the results of mineral resource estimates and timing of pre-feasibility studies; and the Company’s anticipated expenditures.}

_{Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, timing or results of the publication of any mineral resources, pre-feasibility study, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.}

_{Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing or results of the publication of any mineral resources , pre-feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024, in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.}

_{Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.}

_{Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources}

_{The information in this MD&A, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.}

_{Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Reserves (“CIM Definition Standards”), adopted by the CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States Securities and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”) under the United States Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.}

^[1] See press releases dated September 11, and September 18, 2023

^[2] See press release dated September 5, 2023

^[3] See press release dated November 8, 2023

^[4] See press releases dated February 7, 2023 and March 21, 2023 and “Technical Report on the Updated Mineral Resource Estimate at the Black Pine Gold Project, Cassia and Oneida Counties, Idaho, USA”, effective January 21, 2023, and signed March 10, 2023, prepared by Ryan Rodney, C.P.G of SLR Consulting (Canada) Ltd; Gary L. Simmons of GL Simmons Consulting LLC of Larkspur, Colorado, both independent Qualified Persons under National Instrument 43-101; and Moira Smith Ph.D., P.Geo.,  of Liberty Gold Corp;

^[5] See press release dated February 15, 2024

^[6] See press release dated September 6, 2023

^[7] See press release dated July 24, 2023

^[8] Weighted average gold extraction is obtained using the following equation: (composite head grade (grams/tonnes) multiplied by extraction (%) for all head grades)/sum of all head grades.  Using arithmetic averages tends to over-represent low grade composites and under-represent high grade composites.  The arithmetic extraction average of the 24 column tests is 76%.

84.2% weighted average gold extraction¹ from 36 column leach tests

VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to report results from Phase 4B and 4C metallurgical bottle roll and column testing of gold mineralization in 36 variability composites taken from the Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho. Additionally, final assay results are released on the remaining 4 metallurgical core holes drilled in 2023 to provide samples for the Phase 5 metallurgical test program.

HIGHLIGHTS

• 36 variability composites from the Phase 4B and 4C test programs were selected from large-diameter (”PQ”) drill core from Discovery Zone, F Zone, Tallman, M Zone, and C/D Zone, representing a range of sample types across lithology and gold (“Au”) grade.

• Key results include:

• 84.2% weighted average gold extraction¹ from column leach tests for the 31 oxide composites.

• Gold extractions ranged from 52.7% to 94.2% for the oxide composites.

• >80% of leachable gold extracted within 10 days.

• Metallurgical testwork results on 149 composites and six bulk samples over five years are highly consistent, showing rapid leach kinetics, predictable grade-recovery and size-recovery relationships.

• Phase 5 composite selection and sample preparation is under way on an additional 25 variability composites from previously untested areas.

Jon Gilligan, President & Chief Operating Officer for Liberty Gold said, “The results of this latest phase of metallurgical column testwork add key infill data to the gold recovery model at Black Pine. The consistency of results across all phases of test work is encouraging and demonstrates the predictable nature of gold recovery across this extensive Carlin-style oxide gold system. With more than 150 columns completed the test results provide a strong level of confidence for the proposed run of mine heap leach processing approach.”

BLACK PINE METALLURGICAL TEST WORK

Liberty Gold has completed multiple phases of metallurgical testing at Black Pine including:

• Bulk sample column tests

  • Phase 1A² (6 x 300 kilogram surface bulk samples):

    • 78.9% weighted average gold extraction, ranging up to 92.8%

• Variability composite column tests (149 composites from PQ drill core)

  • Phase 1B³(29 composites):

    • 82.9% weighted average gold extraction, ranging up to 94.5%

  • Phase 2⁴(45 composites):

    • 80.8% weighted average gold extraction, ranging up to 94.8%

  • Phase 3 (15 low-grade composites):

    • 65.2% weighted average gold extraction ranging up to 80.8% (see press release dated October 27, 2021)

  • Phase 4A (24 composites):

    • 86.9% weighted average gold extraction, ranging up to 95.8% (see press release dated March 22, 2023)

  • Phase 4B and 4C (36 composites):

    • 84.2% weighted average gold extraction, ranging up to 94.2%.

Phase 4B and 4C composites and the pending Phase 5 variability test program filled gaps in the Black Pine resource metallurgical database. The Phase 4B and 4C data have updated the metallurgical recovery equations supporting the deposit-wide gold recovery model. Phase 5 initial results are expected in Q2 2024 and will support the on-going pre-feasibility engineering and economic study at Black Pine.

¹Weighted average gold extraction is obtained using the following equation: (composite head grade (grams/tonnes) multiplied by extraction (%) for all head grades)/sum of all head grades for composites defined as “Oxide” mineralization having a cyanide gold solubility greater than 65%. Using arithmetic averages tends to over-represent low grade composites and under-represent high grade composites.  The arithmetic extraction average of the 36 column tests is 74.1%.

Phase 4B Test Results

Phase 4B focused on gap filling in Discovery Zone, E-Pit, F Zone, Tallman, I-Pit and M Zone, sampling across rock types, gold grades and geo-metallurgical zones with 25 composites taken. Twenty (20) of these composites represent typical oxide (database Au cyanide solubility > 65%) material at Black Pine, while 5 additional composites were made up to test leach recoveries in lower gold solubility oxide materials (Au Cyanide solubility between 25% and 65%). Bottle roll and column leach test results are in linked table below.

Phase 4B column tests produced the following results:

• Oxide material produced a weighted average 86.1% gold extraction, with a range from 56.9% to 94.2% gold extraction.

Phase 4C Test Results

Phase 4C focused exclusively on the C/D Pit area with 11 composites of oxide gold mineralization taken. Bottle roll and column leach test results are in linked table below.

Phase 4C column tests produced the following results:

• A weighted average 73.4% gold extraction, with a range from 52.7% to 89.8% gold extraction.

² _{Previously referred to as “Phase 1” – see press release dated June 16, 2020}

³ _{Previously referred to as “Phase 2” – see press release dated August 18, 2020}

⁴ _{Previously referred to as “Phase 3” – see press release dated October 27, 2021}

For a graph of results of the Liberty Gold Phase 4B and 4C oxide variability composite results compared to previous test work, see Figure 1 below.

Figure 1: Black Pine Oxide Column Test Results – All Phases

 

_{*Data from columns of lower gold solubility are not shown in the above graph}

For a table of laboratory test results of the Phase 4B and 4C variability composites click here: images/news/2024/March14/Table_of_laboratory_test_results_of_the_Phase_4B_and_4C_variability_composite.pdf

Gold extraction was rapid, with >80% of the leachable gold extracted within the first 10 days of column leaching for both phases of testing.

Five composites of lower gold solubility oxide materials were also tested and are not included in these results and are highlighted in orange in the table.

For graphs of results of the Phase 4B and 4C variability composite leach curves click here:images/news/2024/March14/Graphs_of_results_of_the_Liberty_Gold_Phase_4B_and_4C_variability_composite_leach_curves.pdf

Laboratory Test Program

Samples for Phase 4B and 4C test work were obtained through drilling PQ core holes. Composites were selected through consideration of rock type, alteration, and gold grade to achieve a wide range of geo-metallurgical types. Composites were assembled in Elko, Nevada by Liberty Gold staff, utilizing one-half or three-quarter sawed core, then shipped to Kappes, Cassiday and Associates in Reno, Nevada for metallurgical testing, comprising bottle rolls, column testing and geo-metallurgical characterization, including gold and silver assays, cyanide solubility, sulphur and carbon speciation, preg-robbing analysis, ICP geochemical assays, whole rock analysis, QXRD, load-permeability tests and environmental chemistry.

For a map showing locations of all Black Pine bulk samples and core drill holes used for metallurgical testing, including Phase 4B and 4C, plus the upcoming Phase 5 test work see Figure 2, below.

Figure 2: Map of all Black Pine Bulk Sample and Metallurgical Core Locations

 

Program details included:

• Direct Leach (“DL”) and Carbon-in-Leach (“CIL”) coarse bottle roll tests (target of 80% passing 10 mesh or 1.7 millimeter (“mm”) particle size)

• DL and CIL fine bottle roll tests (target of 80% passing 200 mesh or 75 micron particle size)

• The DL samples were rolled/agitated in bottles in a 1.0 grams per liter (“g/l”) dilute sodium cyanide (“NaCN”) solution for 72 hours (for 200 mesh) or 144 hours (for 10 mesh).

• The CIL samples were rolled/agitated in bottles for 72 hours in a 1.0 g/l dilute NaCN solution, containing 20 g/l of activated carbon.

• Column composites were leached in 10.2 mm and 15.2 mm (four and six inch) diameter columns between 93 and 107 days. And were leached with low strength (0,50 g/l) NaCN solution. Gold and silver were recovered from column leach pregnant solutions by passing it through a small (separate) column containing activated carbon.

BLACK PINE METALLURGICAL DRILL CORE – PHASE 5

Results for the final four core holes from the 2023 PQ drill program are summarized in Table 1 below:

Table 1: Core Drilling Results from the 2023 PQ Drill Program*

 

* Results are reported as drilled thicknesses, with true thicknesses approximately 50% to 90% of drilled thickness. Gold grades are uncapped. Au (g/t) = grams per tonne of gold; m=meters.

All metallurgical work at Black Pine has been supervised by Gary Simmons MMSA, formerly the Director of Metallurgy and Technology for Newmont Mining Corp. Mr. Simmons has managed or supervised many metallurgical testing programs on similar Carlin-style sedimentary rock-hosted deposits.

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

QUALITY ASSURANCE – QUALITY CONTROL

Drill composites were calculated using a cut-off of 0.10 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 50% to 90% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10 parts per million an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation.

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, the potential size of the mineralized zone, the potential recovery in a future mine at Black Pine, the proposed timing of exploration and development plans, the expansion and future resource growth expected at Black Pine, expected capital costs at Black Pine, expected gold recoveries from the Black Pine mineralized material, the potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for future additions to the current mineral resource estimate, the 2023 work program and the results thereof, and the planned development work at Black Pine. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing of the publication of any updated resources; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration well as those factors discussed in the Annual Information Form of the Company dated March 28, 2023 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Cautionary Note for United States Investors

The information in this news release, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.

Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. Shareholders in the United States are advised that, while such terms are defined in and required by Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility, pre-feasibility or other technical reports or studies, except in rare cases. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of contained ounces is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report resources as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in these documents may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC.

3,206,000 Indicated and 325,000 Inferred Gold Ounces

VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce an update to the independent Mineral Resource Estimate (the “Resource” or “MRE”) at its Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho.

• The Resource is reported at a cut-off grade (“COG”) of 0.2 grams per tonne (“g/t”) gold (“Au”) and consists of:

  • Indicated resources of 3,206,000 oz Au at an average grade of 0.49 g/t Au and totalling 203.8 million tonnes (“Mt”); and

  • Inferred resources of 325,000 oz Au at an average grade of 0.42 g/t Au and totalling 24.1 Mt.

• A high-grade subset of the Resource contained within the 0.2 g/t Au resource pit, applying a COG of 0.5 g/t Au and consists of:

  • Indicated resources of 1,765,000 oz Au at an average grade of 1.01 g/t Au and totalling 54.2 Mt; and

  • Inferred resources of 143,000 oz Au at an average grade of 0.91 g/t Au and totalling 4.9 Mt.

The updated MRE represents an increase of 593,000 Indicated gold ounces from the 2023 estimate (see press release dated February 7, 2023).

Jon Gilligan, President and COO of Liberty Gold stated, “This updated Mineral Resource Estimate represents an important milestone for the Black Pine project, passing 3 million gold ounces in the Indicated class. The new resource solidly underpins the Pre-Feasibility Study, which is on track for completion in the third quarter 2024”.

For maps, cross sections and a sensitivity analysis table of the Black Pine Mineral Resource block model, please click here: images/news/2024/Feb15/BlackPineMapSectionSensitivityAnalysis02152024.pdf

Image 1: Map of the Black Pine Mineral Resource Block Model

TABLE 1: BLACK PINE UPDATED MINERAL RESOURCE ESTIMATE BY ZONE

Notes:

• CIM (2014) definitions were followed for Mineral Resources.

• Mineral Resources are reported within conceptual open pits estimated at a gold cut-off grade of 0.20 g/t, using a long-term gold price of US$1,800 per ounce and a variable gold leach recovery model derived from extensive metallurgical studies.

• Bulk density is variable by rock type.

• There are no Mineral Reserves.

• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

• Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grades, and contained gold content.

• The effective date of the Mineral Resource estimate is February 15, 2024.

• The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

• The MRE was prepared by SLR Consulting (Canada) Ltd., Toronto, Canada (“SLR”).

RESOURCE ESTIMATE – CUT-OFF GRADE SENSITIVITY

The average grade of the deposit within the limits of the 0.20 g/t Au resource pit shell reflects a wide range of block grades. At successively higher cut-off grades, a sizeable portion of the deposit remains (Table 2). At a block COG of 0.50 g/t Au, 1,765,000 Indicated ounces at an average grade of 1.01 g/t Au and 143,000 Inferred ounces at an average grade of 0.91 g/t Au remain. This higher-grade core of the mineralization continues to grow with additional drilling.

TABLE 2: RESOURCE GRADE DISTRIBUTION AT SUCCESSIVELY HIGHER CUT-OFF GRADES WITHIN THE 0.2 G/T AU REPORTING PIT*

*Please refer to the notes accompanying Table 1, above, for additional information. The Black Pine updated MRE is shown in bold and italic font.

TABLE 3: SENSITIVITY ANALYSIS USING LOWER CUT-OFF GRADES*

*Please refer to notes accompanying Table 1, above. The reporting MRE is shown in bold and italic font. Tonnes, grade and ounces are expressed within a series of nested pit shells generated at USD$1800/ounce gold whereby only the material above each cut-off grade is processed.

KEY POINTS

• The 2023 work program resulted in a MRE increase of 593,000 Indicated gold ounces from the 2023 mineral resource estimate. The updated Indicated resource of 3,206,000 gold ounces will form the basis of the on-going Pre-Feasibility Study (“PFS”) being conducted on Black Pine. Work is progressing on track for a Q3, 2024 release.

• An analysis of the mineralization at lower cut-off grades, suggests that significant upside potential exists for recovery of additional ounces in a future mine at Black Pine by applying operational cut-off grades similar to run-of-mine oxide operations in the Great Basin.

• This Mineral Resource Update includes an additional 199 Reverse Circulation (“RC”) totaling 39,426 metres (“m”) drilled by Liberty Gold in late 2022 and in 2023. Combining historic and Liberty Gold drilling results in a total of 2,821 drill holes representing 422,142 m of drilling contributing to the new resource.

• Based on exploration drilling costs for 2023, additional ounces added in this Mineral Resource update reflect a <$10/ounce discovery cost.

• The updated MRE is supported by extensive metallurgical testing on 124 variability composites completed. (See press release dated March 22, 2023).

ESTIMATION METHODS

The resource estimate was completed by Valerie Wilson, M.Sc., P.Geo., Principal Resource Geologist at SLR. Ms. Wilson is an Independent Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The resource estimate was prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended.  Estimation methods are summarized below:

• The gold mineral resources at the Black Pine Project were modeled and estimated by:

• Developing a geological model, in Leapfrog Geo reflecting low-angle fault control and stratigraphic control of mineralization hosted in receptive carbonate host rocks;

• Evaluating the drill data statistically;

• Interpreting low (0.1 g/t Au) and high-grade (0.3 g/t Au for Rangefront and 0.5 g/t Au for all other areas) gold-domains using Leapfrog Geo;

• Compositing data to 3.048 metres (10 feet) within the gold domains;

• Coding a unified block model comprised of 10 x 10 x 5 (x, y, z) metre blocks from seven 2.5 x 2.5 x 1.25 sub-blocked models;

• Analyzing the modeled mineralization geostatistically to aid in the establishment of interpolation and classification parameters;

• Interpolating gold grades using inverse distance cubed (ID³) and a three-pass interpolation strategy into the model blocks in Leapfrog Edge using the mineral domain coding to explicitly constrain the gold grade estimations; and,

• Evaluating, statistically and visually, the resulting model in detail prior to finalizing the mineral resource estimation.

• The Black Pine Deposit mineral resource has been constrained by optimized pit shells created using a gold price of USD$1,800/ounce and pit slopes ranging from 45 to 47 degrees. Additional inputs for the pit-optimizations include: Mining - $2.35/tonne mined, heap leaching - $2.00/tonne processed; and G&A cost of $0.80/tonne processed at an assumed 10 million tonnes per year processing rate. Gold recoveries are based on equations derived from metallurgical data and vary by grade and rock unit. A 0.5% net smelter return royalty was also applied.

• The Company has concluded that a Technical Report update is not required with this new Mineral Resource and will include the resource estimate update into the Pre-feasibility Technical Report expected to be completed in Q3 2024.

The technical information contained in this news release has been reviewed and approved by Valerie Wilson, M.Sc., P.Geo, Principal Resource Geologist for SLR Consulting, an Independent Qualified Person as defined by NI 43-101. Ms. Wilson has verified the data disclosed including sampling, analytical, and test data underlying the drill results, using a variety of techniques including comparison against independently sourced assay certificates, site visit investigations, and digital based verification tests, and she consents to the inclusion in this release of said data in the form and context in which it appears. Ms. Wilson experienced no limitations with respect to data verification activities related to the Black Pine project.

ABOUT BLACK PINE

Black Pine is located in the northern Great Basin, immediately adjacent to the Utah/Idaho border. It is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend.  Like Nevada Gold Mine’s Long Canyon deposit, Black Pine represents a growing number of Carlin-style gold systems located off the main Carlin and Cortez trends in under-explored parts of the Great Basin.  The historic Black Pine Mine operated from 1992 to 1997, during a period of historically low gold prices, with 435,000 ounces of gold produced from five composite, shallow pits, at an average grade of 0.63 g/t Au.

Gold mineralization at Black Pine is hosted in a 100 to 500 m-thick package of receptive, faulted carbonate rocks of the Pennsylvanian Oquirrh Formation. The rocks show evidence of extensive decalcification and clay alteration typical of Carlin-style gold deposits and are strongly oxidized over the entire extent of the 14 km², exposed portion of the gold system.

Metallurgical column test results received to date indicate rapid gold recoveries, relatively insensitive to crush size, which support a simple, low-cost process.

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

QUALITY ASSURANCE – QUALITY CONTROL

Drill composites were calculated using a cut-off of 0.10 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 50% to 90% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10 parts per million an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation.

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, the potential size of the mineralized zone, the proposed timing of exploration and development plans, proposed timing of a PFS, the expansion and future resource growth expected at Black Pine, expected capital costs at Black Pine, expected gold recoveries from the Black Pine mineralized material, the potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for future additions to the current mineral resource estimate, the 2024 work program and the results thereof, the timing and results of any resource updates and the planned development work at Black Pine. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing of the publication of any updated resources; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2023 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Cautionary Note for United States Investors

The information in this news release, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.

Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. Shareholders in the United States are advised that, while such terms are defined in and required by Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility, pre-feasibility or other technical reports or studies, except in rare cases. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of contained ounces is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report resources as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in these documents may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC.

0.74 g/t Au over 40.3 m including 1.06 g/t Au over 10.1 m

0.51 g/t Au over 58.4 m and 0.85 g/t Au over 22.7 m
 

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to report assay results from an additional four core holes from the 11 hole, property-wide 2023 core drill program at its Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho. Drill results released herein include core drilling from the Discovery Zone and surrounding areas.

Cal Everett, CEO and Director of Liberty Gold commented, “These latest core drill results from 2023 drilling returned better than expected grades and widths and continue to increase our confidence in the oxide gold deposit at Black Pine.”

Four core holes were drilled along the main resource periphery in J Zone (north), Tallman (east), and F Zone (south) and one hole in the center of the Discovery Zone.

• J Zone – The first ever core hole drilled in J Zone, LBP1010C, was planned to add metallurgical data for this area and hit a thicker intercept than expected at 0.63 grams per tonne (“g/t”) gold (“Au”) over 46.3 meters (“m”) beginning at 6.2 m depth. Initial cyanide solubility data indicate this hole is oxide with recoveries similar to other areas already tested at Black Pine. J Zone is a sparsely drilled resource area that has significant growth potential to the north, east and west.

• Tallman – One vertical hole was drilled in this large, near surface resource area to confirm other nearby metallurgical results and hit better than expected grades and widths of 0.51 g/t Au over 58.4 m and 0.85 g/t Au over 22.7 m including 1.83 g/t Au over 5.1 m. Overall this zone represents a near surface, 81.1 m thick interval with cyanide solubility data indicating this zone will also have high recoveries similar to other areas at Black Pine.

• F Zone – F Zone is a higher grade, near surface zone of mineralization extending 700 meters south from the Main Discovery Zone toward the CD Pit area. The core hole drilled here returned 0.74 g/t Au over 40.3 m starting from surface, which is a slightly better intercept than a nearby Reverse Circulation hole (LBP660). Additional drilling in 2024 will be targeting infill and extensions to this zone.

• Discovery Main – One core hole (LBP1011C) was drilled in the central Discovery Zone and hit a near continuous zone of mineralized material from surface to the end of hole at 350 m. Drill intersection highlights from this drilling are included in the table below.

DRILL HOLE MAP:

For the map showing locations of drill holes in this release, click here:

https://libertygold.ca/images/news/2024/Feb7/BlackPineMap02072024.pdf 

DRILL RESULTS TABLE*

* Results are reported as drilled thicknesses, with true thicknesses approximately 50% to 90% of drilled thickness. Some intercepts have zones of reduced cyanide solubility. Gold grades are uncapped. Au (g/t) = grams per tonne of gold.

2024 WORK PLAN

• The permit amendment Plan of Operations (“PoO”) #4 for the expanded exploration area on United States Forest Service (“USFS”) lands is expected to be received in Q2 2024.

• An exploration drill program is being planned for new discovery in the currently permitted lands as well as throughout this new expanded permit area.

• Final work is being completed on an update to the mineral resource that is expected to be released in Q1 2024.

• A Phase 5 Metallurgical program is expected to begin on core samples from 2023

• Work is well underway on the Pre-Feasibility Study for the Black Pine with results expected in Q3 2024.

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining.  This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah.  We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. 

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

QUALITY ASSURANCE – QUALITY CONTROL

Drill composites were calculated using a cut-off of 0.15 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 50% to 90% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10 parts per million an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. All holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation.

_{All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, the potential size of the mineralized zone, the proposed timing of exploration and development plans, the timing of metallurgical program, the timing of the receipt of any PoO, the expansion and future resource growth expected at Black Pine, expected capital costs at Black Pine, expected gold recoveries from the Black Pine mineralized material, the potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for future additions to the current mineral resource estimate, the 2024 work program and the results thereof, the timing and results of any resource updates and the planned development work at Black Pine. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing of the publication of any updated resources; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2023 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.
Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Cautionary Note for United States Investors
The information in this news release, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.
Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. Shareholders in the United States are advised that, while such terms are defined in and required by Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility, pre-feasibility or other technical reports or studies, except in rare cases. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of contained ounces is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report resources as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in these documents may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC.}

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to report assay results from the 2023 core drill program at the Back Range Zone at its Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho. Results released herein are from the first three drill holes of the 11 hole, property-wide core program.

BACK RANGE ZONE HIGHLIGHTS:

Drill results from the three core drill holes that were completed in the Back Range Zone have been received with results confirming the strong grades and near-surface mineralization. These core holes were drilled for a Phase 5 metallurgical program projected to begin in 2024 and to gain insights into the complex structural controls in this area.

Drill holes LBP956C and LBP968C were the second and third best holes drilled to date at the Back Range Zone on a grams per tonne x meter (“g/t x m”) basis and intersected strong grades of oxide gold mineralization, with the cyanide soluble assays showing an average of 74% and 87% recovery respectively. These drill results come from a highly deformed, strongly decalcified package of structurally thickened middle plate siltstones. Drill hole LBP969C was drilled for metallurgical testing purposes and hit as-expected results.

Cal Everett, CEO and Director of Liberty Gold commented, “The high grade, oxide gold intercepts from the recent core holes in the Back Range Zone are an important beginning for Liberty Gold this year. The resource grade of Back Range is approximately 20% higher than the average grade of the rest of the Black Pine resource areas discovered to date.

Liberty Gold anticipates approval of the fourth Plan of Operations by mid year that will allow us to drill test the 800 meter long gap between Back Range and the main Discovery area. An updated resource estimate is being completed, which will be the basis for the Pre-feasibility Study due in H2 2024. While these new results will not be included in the new resource estimate, they will be included in future resource updates. Additional core holes in the Discovery area, Tallman and M Zones are pending final analysis.”

BACK RANGE ZONE DRILL TABLE*

* Results are reported as drilled thicknesses, with true thicknesses approximately 50% to 90% of drilled thickness. Some intercepts have zones of reduced cyanide solubility, please refer to the full table at the link above for complete results. Gold grades are uncapped. Au (g/t) = grams per tonne of gold.

Based on these results and reverse circulation drilling in 2023, additional drilling is warranted in Back Range in 2024. New insights on structural controls at Back Range show strong targets to the west, southeast and northeast where the middle plate rocks are largely untested.

Also, the permit amendment Plan of Operations (“PoO”) #4, is expected to be received in H1 2024. This permit will increase our drillable target area by 36% to cover a 40 square kilometer area, adding another 7 large target areas and will allow access to the high priority target area located in between the Back Range Zone and the Main Discovery area. This target encompasses an area of approximately 1.5 square kilometers that has only seen sparse, shallow historic drilling.

For a map showing the permit amendment, click here: https://libertygold.ca/images/news/2024/Jan/Black_Pine_Oxide_Gold_Permit_Expansion_Area_01182024.pdf

BACK RANGE ZONE:

The Back Range Zone hosts an indicated resource of 32,000 ounces of oxide gold averaging 0.62 grams per tonne of gold (“g/t Au”) in 1,584,000 tonnes (“t”) and an inferred resource of 77,000 ounces of oxide gold averaging 0.63 g/t Au in 3,783,000 t. (see press release dated February 7, 2023)

During 2023, 38 holes were drilled in the Back Range Zone totaling 5,307 meters (“m”). This new drilling and a new structural model will be included in an updated resource study projected to be completed in H1 2024.

Previously released highlight assays from holes drilled at Back Range in 2023 include:

· 3.10 g/t Au over 27.4 m from 50.3 m depth including 4.33 g/t Au over 18.3 m in LBP796

· 0.78 g/t Au over 115.8 m from 15.2 m depth including 1.29 g/t Au over 25.9 m in LBP782 (see press release dated February 21, 2023)

· 3.40 g/t Au over 32.0 m, from 74.7 m depth including 6.74 g/t Au over 9.1 m in LBP945

· 1.41 g/t Au over 22.9 m, from 79.3 m depth including 4.28 g/t Au over 6.1 m in LBP943. (see press release dated September 5, 2023)

Figure 1: Core Drill Hole Locations

For the map and cross section showing locations of drill holes in this release, click here: https://libertygold.ca/images/news/2024/Jan/BlackPineMap_Section_01182024.pdf

QUALIFIED PERSON

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it.

QUALITY ASSURANCE – QUALITY CONTROL

Drill composites were calculated using a cut-off of 0.15 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 50% to 90% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10 parts per million an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. All holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation.

_{All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, the potential size of the mineralized zone, the proposed timing of exploration and development plans, the timing of metallurgical program, the timing of the receipt of any PoO, the expansion and future resource growth expected at Black Pine, expected capital costs at Black Pine, expected gold recoveries from the Black Pine mineralized material, the potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for future additions to the current mineral resource estimate, the 2024 work program and the results thereof, the timing and results of any resource updates and the planned development work at Black Pine. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing of the publication of any updated resources; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2023 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.
Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Cautionary Note for United States Investors
The information in this news release, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.
Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “probable mineral reserves”. Shareholders in the United States are advised that, while such terms are defined in and required by Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility, pre-feasibility or other technical reports or studies, except in rare cases. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of contained ounces is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report resources as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in these documents may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC.}