Mr. Jason Attew reports

LIBERTY GOLD REPORTS ADDITIONAL DRILL RESULTS AT THE BLACK PINE OXIDE GOLD PROJECT, IDAHO

Liberty Gold Corp. has released additional assay results from the reverse circulation (RC) exploration drill program at its Black Pine oxide gold project in southeastern Idaho. Results released herein are from 39 drill holes, located in the Back Range zone, Rangefront zone and M zone.

Jason Attew, president and chief executive officer of Liberty Gold, commented: "We are very pleased with these assay results, as they highlight the size and continuity of the oxide-gold-mineralizing system at Black Pine and confirm our views on tremendous growth potential for the deposit. We are further encouraged as the majority of these holes demonstrate mineralization at or near surface, which was consistent with the design of our 2023 drilling program. These results should have a positive impact on the economics of the pending prefeasibility study in 2024."

Back Range zone highlights

Drill results from 16 additional RC drill holes completed in the Back Range zone have been received, with results confirming the known mineralization and opening up potential new zones of mineralization to the north and west. Notably, a thick zone of mineralization defined by hole LBP1005 begins at surface and extends down to 100 metres depth. This is the northernmost hole drilled in the Back Range zone, and this new zone of mineralization is open for extension and expansion through additional drill testing in 2024.

Rangefront zone highlights

Drill results from 15 additional RC drill holes completed in the Rangefront zone have been received, with results confirming that the newly discovered extension to high-grade mineralization shows strong lateral continuity over a large area. These infill holes were drilled to convert currently classified inferred resource blocks to indicated resource blocks, and to further define the thick, near-surface zones of oxide gold mineralization discovered on the eastern margin of the Rangefront zone earlier in the year (see press release dated Sept. 7, 2023). This area remains open and is a key target for the next phase of resource expansion drilling in 2024.

M zone highlights

Drill results for an additional eight holes drilled in the M zone have been received. Holes were drilled for infill/resource conversion and to expand mineralization adjacent to the two new discoveries made in the M zone earlier in the year (see press release dated Feb. 21, 2023); two holes were drilled as RC precollars for metallurgical core holes. These results now confirm that the M zone mineralization has a minimum footprint of 800 m long by 400 m wide and remains open to the north and west. Mineralization continues to exhibit gold grades above the resource average, which, combined with its location close to a preferred site for a future heap-leach pad, makes the M zone a strong candidate for early metal production in a future oxide gold mining operation.

Qualified person

Peter Shabestari, PGeo, vice-president of exploration, 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 Corp.

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. Liberty Gold knows the Great Basin and is driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

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 per cent and 100 per cent of the reported lengths due to varying drill hole orientations but are typically in the range of 50 per cent to 90 per cent of true width. Drill samples were assayed by ALS Ltd. in Reno, Nev., for gold by fire assay of a 30-gram (one-assay-ton) charge with an atomic absorption finish, or if over 5.0 g/t Au were reassayed 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 part per million, an additional cyanide leach analysis is done, where the sample is treated with a 0.25 per cent sodium cyanide solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by atomic absorption spectroscopy. Quality assurance/quality control 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-element geochemical suite by ICP-MS. ALS is ISO 17025:2005 accredited, with the Elko and Twin Falls preparation laboratory listed on the scope of accreditation.

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