Mr. Rob Pease reports

LIBERTY GOLD ANNOUNCES THE RETIREMENT OF CAL EVERETT, CEO & DIRECTOR AND THE APPOINTMENT OF DR. JON GILLIGAN AS NEW PRESIDENT AND CHIEF EXECUTIVE

After more than eight years of distinguished service, Cal Everett, the company's chief executive officer and a director, will be retiring from Liberty Gold and will be transitioning to the recently announced spinout entity, Specialty American Metals Inc., as a non-executive director. The company's board of directors will appoint Dr. Jon Gilligan as a board director and as the new president and chief executive officer of Liberty Gold, effective June 12, 2025.

Mr. Everett will continue to provide his deep expertise in financial markets to Liberty Gold as a senior financial strategist and will work closely with the new chief executive officer and the board in an advisory capacity. As Liberty Gold focuses on permitting and developing its flagship oxide gold asset at Black Pine, Mr. Everett will focus on supporting creation of the spinout entity, Specialty American Metals. This will hold 100 per cent of the Goldstrike/Antimony Ridge project in southwestern Utah. He will assume a director position at Specialty American Metals and will work closely with the new CEO to finance and acquire additional projects for this new U.S. critical metals exploration and development company.

During his tenure at Liberty Gold, Mr. Everett has successfully guided the company through multiple gold discoveries, extensive permitting activities, and significant growth and development. His leadership has been instrumental in advancing the company's flagship projects, expanding its gold resources and building significant value for shareholders. Under his guidance, Liberty Gold is now recognized as a major player in the U.S. Great basin oxide gold developer space, with a bright future ahead.

The board of directors expresses its deep gratitude to Mr. Everett for his outstanding contribution to Liberty Gold and his tireless dedication to the company's development. "Cal's leadership has been critical to Liberty Gold's success and we thank him for his unwavering commitment. We wish him all the best in retirement from Liberty Gold as CEO, although I know he can never fully retire," said Rob Pease, chair of the board.

Effective June 12, 2025, Dr. Gilligan, who currently serves as president and chief operating officer, will assume the role of president and chief executive officer and director of Liberty Gold. Dr. Gilligan brings over 35 years of experience in the mining industry, with a proven record of leading exploration, development and mine-building teams and operating groups to success. His expertise in resource development, operations, mine building, corporate leadership and the recent successful prefeasibility study published on the Black Pine project makes him the ideal candidate to lead Liberty Gold through its next phase of growth.

"I am honoured to step into Cal's illustrious shoes at such an exciting time in the company's development," said Dr. Gilligan. "Cal has built a solid foundation for this company and I am eager to build on the current team to unlock the full potential of our projects in the Great basin and deliver value for our shareholders. I am grateful to Cal for his remarkable support and his willingness to provide ongoing guidance to the board and senior management during the next steps of the company's growth."

The board of directors is confident that the Liberty Gold team, under Dr. Gilligan's vision and leadership, will ensure the continued success of Liberty Gold as it advances its exploration and development programs at Black Pine and moves through U.S. mine permitting, toward a mine construction decision targeted for late 2027.

In an inimitable parting message, Mr. Everett commented: "Liberty Gold is in good hands with Jon. I am excited to move on to be a part of creating something new in Specialty Metals. The association with Liberty Gold will continue and this new company will provide additional value for our shareholder base. It has been a pleasure to work here, both in good times and in bad, and I have relished dealing with the intricacies of market conditions at any given moment. I cannot put on a pair of plaid golf pants with the waistband up to my armpits by simply walking away and going into the light. Time to buy some new suits."

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. 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.

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