Mr. Jason Attew reports

LIBERTY GOLD REPORTS ADDITIONAL DRILL RESULTS FROM THE RANGEFRONT ZONE, BLACK PINE OXIDE GOLD PROJECT, IDAHO

Liberty Gold Corp. has released the latest assay results from an additional eight holes drilled at the Rangefront zone, with most holes focused on the eastern margin of the known deposit area. These results are part of the 2023 reverse circulation (RC) drill exploration program at its Black Pine oxide gold project in southeastern Idaho.

Rangefront zone highlights:

• 0.61 gram per tonne gold over 76.2 metres, including 2.47 g/t Au over 12.2 m, in hole LBP941;
• 0.45 g/t Au over 73.2 m, including 1.50 g/t Au over 3.0 m, in hole LBP954.

Drill results from eight additional RC drill holes completed in the Rangefront zone have been received, with results showing the known mineralization continues to the east and becomes thicker with better grades than blocks in the current resource model. These holes were drilled on the eastern margin of the resource area and were planned to test for extensions to the modeled mineralization and to convert inferred resource blocks to indicated resource blocks, as the area had only been sparsely tested with shallow historical drilling.

This drilling shows a large area of oxide mineralization that is predominantly outside of the current pit-constrained resource and is still open for expansion to the north and south. This area is roughly 200 m by 200 m in plan view and extends from near surface to a depth of about 200 metres. The area to the east is unconstrained by any drilling, and the area to the south has only been tested by shallow historical drilling.

This new drilling pushes the known extents of mineralization at the Rangefront zone to an area roughly 1,000 m by 1,000 m, with room to grow the deposit to the east, north and south.

Jason Attew, president and chief executive officer of Liberty Gold, commented: "These new drill results from Rangefront highlight the ongoing discovery potential at Black Pine. We know when we see these thick, oxide-mineralized zones that they can continue for quite some distance, and we look forward to additional drill testing in this area, with the goal of expanding the existing resource pit substantially."

Rangefront zone key points:

• The eastern margin of Rangefront continues to show strong oxide mineralization that will be included in the resource estimate update to begin later this year.
• Stronger grades and thickness of mineralization indicate that the preferential host rocks are increasing in thickness to the east.
• Mineralization begins at or near surface in bedrock that is covered by a thin layer of postmineral alluvium.
• Newly discovered mineralization in the eastern margin of Rangefront is all oxide and above the water table.

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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