Mr. Jon Gilligan reports

COORDINATED FEDERAL AND STATE PERMITTING SCHEDULE FOR BLACK PINE RELEASED UNDER FAST-41

A co-ordinated federal and state permitting schedule has been established for Liberty Gold Corp.'s 100-per-cent-owned Black Pine oxide gold project, located in southeastern Idaho.

The schedule has been posted to the U.S. government permitting dashboard, pursuant to the U.S. federal permitting improvement steering committee council FAST-41 federal permitting framework, which provides transparency on permitting milestones and timelines.

Following completion of a structured schedule review period with relevant federal and state of Idaho agencies, Black Pine now benefits from a clearly defined, interagency-aligned permitting timetable under the National Environmental Policy Act (NEPA). The published schedule provides enhanced transparency into the federal and state review process, creates a series of defined and monitored milestones, and represents a definitive permitting pathway to advance the project.

Key highlights:

• Federal and state alignment: Black Pine is the first U.S. mining project to have both federal and state agencies aligned to a single, publicly disclosed permitting schedule under FAST-41.
• Enhanced permitting certainty: The schedule establishes a transparent and accountable framework, with participating agencies committing to defined timelines for permitting activities.
• National significance: Black Pine is one of a very limited number of mining projects designated with covered status under FAST-41, reinforcing its importance within the U.S. domestic gold and critical minerals development pipeline.
• Accelerated timeline: The co-ordinated schedule projects completion of the environmental impact statement (EIS) under the NEPA process in less than two years, with a final record of decision slated for January, 2028.

"Congratulations to Liberty Gold on having the first FAST-41 covered project to benefit from our historic MOU [memorandum of understanding] with Governor Little and the State of Idaho," said Emily Domenech, permitting council executive director.

"The timetable developed for this project includes all state permitting actions and aligns state and federal permitting for the first time. This level of co-ordination and transparency will ensure that critical infrastructure projects like Black Pine can complete state and federal permitting without delay and will set a new standard for permitting efficiency across the country."

Jon Gilligan, president and chief executive officer of Liberty Gold, commented: "The establishment and publication of a co-ordinated federal and state permitting schedule for Black Pine is a major milestone for the project. FAST-41 provides a transparent and disciplined framework that aligns agencies, timelines and accountability that is typically not provided for U.S. mining projects.

"Importantly, this schedule reflects a shared commitment by federal and state agencies to advance Black Pine on a clearly defined and achievable timeline. While permitting outcomes are never guaranteed, this level of co-ordination significantly enhances visibility and confidence in the path forward. Black Pine is supported by extensive baseline work and ongoing engineering workstreams. We believe this milestone reinforces its position as one of the most advanced oxide gold development projects in the United States."

The established schedule outlines key federal permitting milestones, including anticipated progression through NEPA review and related agency actions required to advance Black Pine toward a final record of decision (ROD). The co-ordinated timetable reflects the project's advanced state of technical readiness, extensive environmental baseline work completed to date and its status as a brownfield development in a well-established mining jurisdiction.

Black Pine has benefited from multiple years of environmental baseline studies, mine planning and engineering work, positioning the project well for federal environmental review. With the permitting schedule now established, the lead federal agencies will continue to advance NEPA activities in accordance with the published timetable, including continuing interagency co-ordination, technical review and public engagement.

While the NEPA review progresses, Liberty Gold will continue advancing parallel workstreams, including feasibility-level engineering, continued environmental studies, and advancement of state and federal permits required for construction and operation. These permits are expected to include approvals related to water management, heap-leach operations, air quality, surface disturbance, reclamation and other authorizations customary for large-scale oxide gold projects in the United States.

The company remains focused on maintaining critical-path discipline across permitting and technical activities while supporting a transparent and co-ordinated review process.

Liberty Gold will provide further updates as additional permitting milestones are achieved and as the project advances through subsequent stages of federal and state review.

About Liberty Gold Corp.

Liberty Gold is a U.S.-focused gold development company building and advancing a pipeline of gold assets in the Great basin, one of the world's most productive and mining-friendly gold regions. The company's flagship asset is the 100-per-cent-owned Black Pine oxide gold project in southern Idaho, a large-scale, past-producing run-of-mine heap-leach system being advanced through feasibility and permitting toward a modern open-pit mining operation. The company's strategy is to responsibly develop high-quality, long-life gold projects in supportive jurisdictions, led by an experienced team with a record of discovery, development and delivering long-term value.

We seek Safe Harbor.