Mr. Jon Gilligan reports

LIBERTY GOLD ADVANCES BLACK PINE WITH 2026 DRILL PROGRAM FOCUSED ON EARLY PRODUCTION AND PROJECT EXECUTION

Liberty Gold Corp. has outlined its 2026 drill program at the Black Pine oxide-gold project in southeastern Idaho, with approximately 40,000 metres (m) of approved reverse circulation (RC) drilling with an additional 10,000 m of RC drilling planned contingent on results, all to support early production confidence and project execution readiness, aligned with advancing Black Pine toward a construction decision.

The 2026 drill campaign is focused on three priorities:

• Early production confidence: Infill drilling to upgrade resources from indicated to measured classification within the initial two to three years of the mine plan to increase production confidence in that key operating period.
• Exploration and resource growth: Drilling high-priority resource extension targets proximal to planned mining areas, as well as selected deposit and wider-scale targets.
• Permitting and engineering support: Drilling to support mine plan optimization around phase sequencing and geotechnical material testing, infrastructure planning, and permitting requirements.

Jon Gilligan, president and chief executive officer of Liberty Gold, commented: "Our 2026 drill program is focused on strengthening confidence in the early years of production and advancing the technical work required to support a buildable, financeable project. We are prioritizing drilling that directly impacts reserve confidence, mine sequencing and key engineering inputs. At the same time, we will selectively advance high-quality growth targets that have the potential to support longer-term opportunities beyond the current mine plan at Black Pine."

Drill program overview

Early year production confidence and mine plan optimization

The 2026 program includes an approved 10,000 m of focused infill RC drilling in the Discovery area focused on the initial production phases of the mine plan and an additional approximately 10,000 m of proposed infill RC drilling in the Rangefront area, subject to continuing feasibility study work. This work is expected to:

• Derisk initial years of the mine plan by strengthening resource classification, thus providing the basis for potential upgrades to proven reserve classification;
• Provide key data for short-range planning and grade control models and further advance operational readiness;
• Evaluate the potential use of RC drilling as grade control approach during production;
• Refine geologic controls and enhance geometallurgical models.

This work is designed to derisk the early years of production and advance technical inputs supporting detailed engineering, project financing, and preliminary operational plans.

Growth opportunities

High-priority resource growth areas will be assessed with approximately 20,000 m of RC drilling targeting:

• Near-resource expansion in the Rangefront area where mineralization remains open laterally;
• Areas where mineralization extends beyond the margins of the current resource shell;
• Early stage evaluation of targets where geological characteristics are consistent with known mineralization.

These targets are being advanced in a disciplined manner, with a focus on opportunities that may contribute to future mine plans or support long-term expansion.

Project infrastructure, permitting and engineering support

Approximately 10,000 m of targeted RC drilling will support infrastructure planning and permitting requirements, including:

• Geotechnical data collection for detailed engineering related to infrastructure siting and evaluation of potential construction material for the future leach pad;
• Site characterization supporting land status and permitting requirements associated with locatable minerals;
• Data collection surrounding the legacy leach pad to help determine potential use cases and sequencing for that material in future mine plans.

Program context and strategic positioning

The 2026 drill program reflects Liberty Gold's continued growth into the development space, with drilling activities now aligned to strengthening confidence in the early years of the mine plan, support project financing and construction decisions, and advance permitting under the FAST-41 co-ordinated framework.

The company continues to prioritize disciplined capital allocation focusing on work that enhances project certainty, supports financing decisions and advances operational readiness.

About Liberty Gold Corp.

Liberty Gold is a United States-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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