Mr. Peter Shabestari reports

LIBERTY GOLD REPORTS Q3 2023 FINANCIAL AND OPERATING RESULTS

Liberty Gold Corp. has released its financial and operating results for the nine months ended Sept. 30, 2023. All amounts are presented in U.S. dollars unless otherwise stated.

Third quarter of 2023 and recent highlights:

• On Sept. 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.;
• On Sept. 5, 2023, published second annual environmental, social and governance report: Developing Gold Deposits in a Responsible and Sustainable Manner;
• On Nov. 8, 2023, announced the appointment of Cal Everett as chief executive officer and Jon Gilligan as president, effective Nov. 10, 2023.

At the Black Pine project, the company:

• Announced on Sept. 11, 2023, the purchase of the existing 0.5-per-cent net smelter royalty at Black Pine and the sale of a new 0.5-per-cent NSR to an affiliate of Wheaton, which include an option to reduce the NSR to 0.25 per cent in the future;
• On Sept. 6, 2023, announced the submission of a mining preplan of operations to U.S. federal agencies and the selection of M3 Consulting Ltd. as lead engineer for the prefeasibility study;
• Published reverse circulation exploration drill results from:
• Discovery zone:
  • 0.77 gram per tonne gold over 65.5 metres, including 2.47 g/t Au over 10.7 m in LBP9327;
• Back Range zone:
  • 3.40 g/t Au over 32.0 m, including 6.74 g/t Au over 9.1 m, in LBP9455;
  • 1.41 g/t Au over 22.9 m, including 4.28 g/t Au over 6.1 m, in LBP9435;
  • 1.41 g/t Au over 30.5 m, including 1.83 g/t Au over 13.7 m in LBP9267;
• Rangefront zone:
  • 0.61 g/t Au over 76.2 m, including 2.47 g/t Au over 12.2 m in LBP9416;
  • 0.45 g/t Au over 73.2 m, including 1.50 g/t Au over 3.0 m in LBP9546;
• CD-Tallman zone:
  • 0.86 g/t Au over 25.9 m, including 1.80 g/t Au over 6.1 m, in LBP9207;
  • Completed 2023 RC exploration drilling program as of Sept. 30, 2023, for a total of 27,461 metres drilled.

Selected financial data

The attached selected financial data are derived from its unaudited condensed interim consolidated financial statements and related notes thereto for the nine months ended Sept. 30, 2023, as prepared in accordance with international accounting standard 34 (Interim Financial Statements).

A copy of the interim financial statements is available on the company's website or on SEDAR+.

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. The company knows the Great basin and is driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios. Its flagship projects are Black Pine in Idaho and Goldstrike in Utah, both past-producing open-pit mines, where previous operators only scratched the surface.

Peter Shabestari, PGeo, 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.

We seek Safe Harbor.