Mr. Jon Gilligan reports

LIBERTY GOLD COMMENCES FEASIBILITY STUDY ENGINEERING AT BLACK PINE OXIDE GOLD PROJECT, IDAHO

Liberty Gold Corp. has formally commenced feasibility study (FS) engineering for its flagship Black Pine oxide gold project in southeastern Idaho.

Following the successful completion of the preliminary feasibility study (PFS) in October, 2024, Liberty Gold has assembled a highly experienced and integrated engineering team to advance the project through the FS phase. The contracting process included a comprehensive review of proposals from multiple qualified firms, culminating in the selection of the most technically aligned and cost-effective partners for the next stage of project development.

M3 Engineering & Technology Corp. (M3), lead consultant for the PFS, has been re-engaged as the lead FS consultant, responsible for the overall project coordination as well as design of the processing plant and site infrastructure. This continuity of lead consultant preserves detailed project knowledge, strengthens schedule efficiency and minimizes rework between study phases.

Complementing M3's role, Liberty Gold has retained the following key consultants, each previously engaged during the PFS phase and already deeply familiar with Black Pine's data and design basis:

• SLR Consulting Ltd. -- mineral resource;
• AGP Mining Consultants Inc. -- mine engineering, open pit optimization and design, and mineral reserve;
• Knight Piesold Ltd. -- pit geotechnical analysis and design recommendations;
• Forte Dynamics Inc. -- heap leach modelling and process optimization;
• NewFields Inc. -- heap leach facility and infrastructure design;
• Piteau Associates Ltd. -- hydrology and hydrogeology.

Each discipline within the feasibility study will be overseen by qualified persons under National Instrument 43-101 who contributed to the Black Pine PFS, ensuring technical continuity and regulatory rigor throughout the FS process.

These firms were selected following a rigorous evaluation and competitive review process, based on their demonstrated technical excellence, team integration and prior performance on the Black Pine project. Together, they form a cohesive and high-calibre engineering consortium with proven success delivering complex oxide gold projects in the Great basin.

"We are excited to move into the feasibility engineering phase for Black Pine," stated Jon Gilligan, president and chief executive officer of Liberty Gold. "Continuing with much of the same technical team that delivered the PFS provides consistency, efficiency and confidence as we advance the feasibility study.

"With a strong technical foundation, a highly experienced and capable in-house owner's team and a solid funding position, Liberty Gold is well positioned to deliver the feasibility study in early Q4 2026 and move decisively toward construction readiness."

"M3 Engineering is very pleased to support Liberty Gold in advancing the feasibility study for the Black Pine project," said Alberto Bennett, CEO of M3 Engineering. "This study represents an important step in demonstrating the potential of a significant project at Black Pine, and we're proud to contribute our technical expertise to its development. We look forward to working closely with Liberty Gold's team to deliver a high-quality and comprehensive study."

About Liberty Gold Corp.

Liberty Gold is focused on 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 is advancing the Black Pine project in southeastern Idaho, a past-producing, Carlin-style gold system with a large, growing resource and strong economic potential. The company knows the Great basin, and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios and in an environmentally responsible manner.

We seek Safe Harbor.