Mr. Ian Harris reports

LIBERO COPPER ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

Further to Libero Copper & Gold Corp.'s news release dated Jan. 19, 2024, the TSX Venture Exchange has approved the consolidation of its issued and outstanding common shares on the basis of one new postconsolidation common share for every 10 preconsolidation common shares. The consolidation will become effective at the opening of the market on Feb. 13, 2024. The company's name and trading symbol will remain unchanged following the consolidation. The new Cusip number will be 53014U700 and the new ISIN number will be CA53014U7006 for the postconsolidation common shares.

The company currently has 174,777,174 common shares issued and outstanding. Assuming no other changes in the number of common shares outstanding, after giving effect to the consolidation the company would have approximately 17,477,717 common shares outstanding. There is no maximum number of authorized common shares.

Any fractional interest in common shares resulting from the consolidation will be rounded down to the nearest whole common share and no cash consideration will be paid in respect of fractional shares. Registered shareholders will receive a letter of transmittal from the company's transfer agent, Olympia Trust Company, with information on how to replace their old share certificates/DRS (direct registration statement) with the new share certificates/DRS. Brokerage firms will handle the replacement of share certificates and DRS on behalf of their shareholder's accounts.

The exercise price and number of common shares issuable upon the exercise of Libero Copper's outstanding stock options and warrants will be proportionately adjusted to reflect the consolidation in accordance with the terms of such securities.

Related party loan and bonus warrants

Further to the company's news release dated Jan. 22, 2024, the exchange has conditionally approved the issuance of 750,000 non-transferable warrants (the bonus warrants) to Slater Capital Corp. (the lender) on a postconsolidation basis in connection with a loan agreement between the company and the lender dated Jan. 1, 2024. Pursuant to the terms of the loan agreement, the lender has granted an unsecured loan of $300,000 to the company. The term of the loan expires on Dec. 31, 2024. The loan is non-interest-bearing and repayable at any time by the company without penalty. The bonus warrants are being issued as consideration for the loan. There are no additional fees, financial covenants or security associated with the loan. Each bonus warrant will entitle the lender to purchase one additional common share at an exercise price of 20 cents per share for a period of 12 months from the date of issuance. It is expected that the bonus warrants will be issued on or about Feb. 13, 2024, after the consolidation becomes effective.

The loan constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions as the lender is wholly owned by Ian Slater, chairman of Libero Copper, and a related party of the company within the meaning of MI 61-101. The company has relied on exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 from the valuation and minority shareholder approval requirements in MI 61-101 in respect of the loan since neither the fair market value of the loan, nor the fair market value of the consideration for the loan, exceeds 25 per cent of the company's market capitalization.

About Libero Copper & Gold Corp.

Libero Copper is a mineral exploration company which is focused on unlocking the value of the Mocoa copper-molybdenum porphyry deposit located in Putumayo, Colombia. Mocoa is being advanced by a highly disciplined and seasoned professional team with successful records of discovery, resource development and permitting in Colombia. Libero Copper prioritizes building strong relationships with the communities in which it operates and is dedicated to creating long-term value for its shareholders through responsible exploration to fuel the green energy future.

We seek Safe Harbor.