Mr. Jon Gilligan reports

LIBERTY GOLD ANNOUNCES CLOSING OF THE SALE OF GOLDSTRIKE AND CORPORATE UPDATE

Liberty Gold Corp. has closed the previously announced sale of the Goldstrike project, located in southern Utah to Heliostar Metals Ltd.

Total consideration to be received under the transaction is $72.5-million (U.S.), with $10-million (U.S.) in cash and approximately 1.6 million common shares of Heliostar (valued at approximately $2.5-million (U.S.)) received on closing. Future milestone-based payments total an additional $60-million (U.S.), including $10-million (U.S.) in cash to be received 12 months and 18 months from closing, and the remaining $40-million (U.S.) to be received on the earlier of completion of certain project-based milestones or five years from closing (see press release dated March 23, 2026).

"Closing the sale of Goldstrike marks an important step in executing our strategy to monetize non-core assets and to direct capital and management focus to our flagship Black Pine oxide gold project," said Jon Gilligan, president and chief executive officer of Liberty Gold. "This transaction strengthens our balance sheet at an important stage in the advancement of Black Pine and supports our disciplined focus on permitting, feasibility and selected long-lead development planning."

In connection with the transaction, all Heliostar shares received by the company as consideration will be subject to a statutory hold period under applicable Canadian securities laws expiring four months plus one day from closing.

Completion of the transaction aligns with Liberty Gold's stated objective of rationalizing its asset portfolio and unlocking value from non-core holdings while preserving exposure to future upside where appropriate. Proceeds and value received from the transaction are expected to support the continued advancement of the Black Pine project, including continuing permitting, feasibility study work and selected long-lead development initiatives.

Black Pine is one of the largest undeveloped oxide gold projects in the Great basin and benefits from a substantial mineral endowment, existing infrastructure, and a supportive mining jurisdiction.

Corporate update

Liberty Gold also announces that Centerra Gold Inc. elected to exercise its top-up right to maintain its 9.9-per-cent equity interest in the company, as provided under the investor rights agreement (IRA) dated Sept. 25, 2025 (see press release dated Sept. 30, 2025). In connection with this election, Liberty Gold has issued 2,033,992 common shares at a price of $1.17 per share in accordance with the IRA, for total proceeds of approximately $2.4-million.

About Liberty Gold Corp.

Liberty Gold is a U.S.-focused gold company advancing Black Pine, its 100-per-cent-owned oxide gold project in Idaho, located within the Great basin, one of the world's most productive and mining-friendly gold regions. Black Pine is a large-scale, past-producing, run-of-mine, heap-leachable gold deposit progressing through feasibility and permitting toward a modern open-pit mining operation. The company's strategy is centred on advancing high-quality, long-life gold assets, with a clear focus on technical simplicity, strong environmental performance, project executability, collaborative permitting processes and value creation. This reflects Liberty Gold's commitment to the discipline of delivery. The company is led by an experienced team with a record of discovery, development and delivering sustained long-term value.

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