Mr. Ian Harris reports

LIBERO COPPER CLOSES $3,000,000 FINANCING

Libero Copper & Gold Corp., further to its news release dated Jan. 22, 2024, has closed a non-brokered private placement for aggregate gross proceeds of $3-million. The offering was completed postconsolidation (as defined herein). Effective Feb. 13, 2024, Libero Copper consolidated its common shares on the basis of one new postconsolidation common share for every 10 preconsolidation common shares. The net proceeds of the offering will be used for exploration at Mocoa and general corporate purposes.

Libero Copper issued 19,999,335 units at a price of 15 cents per unit, with each unit consisting of one postconsolidation common share and one full common share purchase warrant, with each warrant entitling the holder to acquire an additional postconsolidation common share at an exercise price of 20 cents per warrant until Feb. 15, 2027. Common shares issued in the offering as well as any common shares issuable from the exercise of warrants, which were issued in the offering, are subject to a four-month hold period expiring June 16, 2024.

Early warning disclosure

Frank Giustra, through Fiore Aviation Corp. (a company owned and controlled by Mr. Giustra), acquired 4.2 million units of the company pursuant to the private placement. As a result of the acquisition of securities described above, Mr. Giustra now owns and/or controls directly and indirectly 4.2 million common shares and 3.7 million warrants, representing 11.21 per cent of the issued and outstanding common shares of the company, and 19.19 per cent on a partially diluted basis. Prior to this transaction, Mr. Giustra did not hold any securities of the company.

Mr. Giustra and his related entities acquired these securities for investment purposes and, as disclosed in the corresponding early warning report, may in the future acquire or dispose of securities of the company, through the market, privately or otherwise, as circumstances or market conditions warrant.

This news release is being issued under the early warning provisions of Canadian securities legislation. A copy of the early warning report to be filed by Mr. Giustra in connection with the transaction described above will be available under the company's profile on SEDAR+.

Change to board of directors

Ian Slater, Michael Sununu, Rob Pease and Brad Rourke have resigned from the board of Libero Copper, effective Feb. 15, 2024, and have been replaced by Rob Van Egmond. The board now consists of Mr. Van Egmond, Ian Harris, Ernest Mast and Jay Sujir.

Bonus warrants

Further to the company's news release dated Feb. 9, 2024, the company issued on Feb. 15, 2024, the 750,000 non-transferable warrants expiring Feb. 15, 2025, with an exercise price of 20 cents per common share, 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. Any common shares issuable from the exercise of bonus warrants are subject to a four-month hold period expiring June 16, 2024.

About Libero Copper & Gold Corp.

Libero Copper is a mineral exploration company that 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 the company 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.