Mr. Cal Everett reports

LIBERTY GOLD REPORTS ADDITIONAL CORE DRILL RESULTS FROM THE DISCOVERY ZONE AT THE BLACK PINE OXIDE GOLD PROJECT, IDAHO

Liberty Gold Corp. has released assay results from an additional four core holes from the 11-hole, property-wide 2023 core drill program at its Black Pine oxide gold project in southeastern Idaho. Drill results released herein include core drilling from the Discovery zone and surrounding areas.

Cal Everett, chief executive officer and director of Liberty Gold, commented, "These latest core drill results from 2023 drilling returned better-than-expected grades and widths and continue to increase our confidence in the oxide gold deposit at Black Pine."

Four core holes were drilled along the main resource periphery in J zone (north), Tallman (east) and F zone (south), and one hole in the centre of the Discovery zone.

• J zone -- the first ever core hole drilled in J zone, LBP1010C, was planned to add metallurgical data for this area and hit a thicker intercept than expected at 0.63 gram per tonne gold over 46.3 metres beginning at 6.2 m depth. Initial cyanide solubility data indicate this hole is oxide with recoveries similar to other areas already tested at Black Pine. J zone is a sparsely drilled resource area that has significant growth potential to the north, east and west.
• Tallman -- one vertical hole was drilled in this large, near-surface resource area to confirm other nearby metallurgical results and hit better-than-expected grades and widths of 0.51 g/t Au over 58.4 m and 0.85 g/t Au over 22.7 m, including 1.83 g/t Au over 5.1 m. Over all, this zone represents a near-surface, 81.1 m thick interval with cyanide solubility data indicating this zone will also have high recoveries similar to other areas at Black Pine.
• F zone -- F zone is a higher-grade, near-surface zone of mineralization extending 700 metres south from the main Discovery zone toward the CD Pit area. The core hole drilled here returned 0.74 g/t Au over 40.3 m starting from surface, which is a slightly better intercept than a nearby reverse circulation hole (LBP660). Additional drilling in 2024 will be targeting infill and extensions to this zone.
• Discovery main -- one core hole (LBP1011C) was drilled in the central Discovery zone and hit a near-continuous zone of mineralized material from surface to the end of hole at 350 m.

2024 work plan:

• The permit amendment plan of operations (PoO) No. 4 for the expanded exploration area on United States Forest Service (USFS) lands is expected to be received in Q2 2024.
• An exploration drill program is being planned for new discovery in the currently permitted lands as well as throughout this new expanded permit area.
• Final work is being completed on an update to the mineral resource that is expected to be released in Q1 2024.
• A phase 5 metallurgical program is expected to begin on core samples from 2023.
• Work is well under way on the prefeasibility study for Black Pine with results expected in Q3 2024.

Qualified person

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.

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 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 five 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 NaCN (sodium cyanide) solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by atomic absorption spectroscopy. QA/QC 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. All holes are also analyzed for a 51-multielement geochemical suite by inductively coupled plasma mass spectrometry. ALS Geochemistry, Reno, is ISO 17025:2005 accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation.

We seek Safe Harbor.