Mr. Ian Harris reports

LIBERO COPPER ADVANCES 14,000-METRE PROGRAM WITH MD-045 TO EXPLORE WESTERN POTENTIAL AT THE MOCOA PORPHYRY COPPER-MOLIBDENUM DEPOSIT, PUTUMAYO - COLOMBIA

Libero Copper & Gold Corp. has started hole MD-045, the second hole of its 14,000-metre resource expansion drilling program designed to strategically connect and expand high-grade zones at the Mocoa porphyry copper-molybdenum deposit in Putumayo, Colombia.

Highlights:

• Strategic focus: MD-045 is designed to evaluate the structural controls of the western-trending brecciation (phase 3), which has shown potential for significant mineralization at Mocoa. This hole is to test extension farther south and continuation at depth.
• Western expansion unlocked: The clarification of the forestry reserve boundary has reprioritized western expansion potential, increasing its probability and strategic significance within the 14,000-metre drill program.
• Foundation for growth: Both MD-044 and MD-045 provide critical insights into structural controls, forming the foundation to derisk and optimize Mocoa's aggressive resource expansion strategy.
• Progress update: MD-045 has reached 250 metres of its planned 1,200-metre target depth.

"MD-044 provided the critical insights we needed to derisk our resource expansion strategy, and we're confident MD-045 will further solidify Mocoa's potential as a world-class copper-molybdenum deposit," stated Ian Harris, president and chief executive officer of Libero Copper. "The recent clarification of the forestry reserve boundary provides opportunities to explore the western area, where promising mineralization controls have been identified. By focusing on structural understanding and resource optimization, we're not just advancing Mocoa -- we're laying the groundwork for long-term success. This deposit continues to exceed our expectations with its near-surface, high-grade copper-molybdenum mineralization extending to significant depths, and we're just beginning to uncover its true potential."

Hole MD-045

The drilling campaign continues to advance with the start of MD-045, the second hole of the 14,000-metre resource expansion drilling program at the Mocoa porphyry deposit. As at Jan. 13, 2025, the hole has reached a depth of 250 metres toward its target depth. MD-045 is designed with a target depth of 1,200 metres, oriented with 258 degrees in azimuth and a dip of minus-60 degrees.

MD-045 is strategically designed to test the continuity of the western-trending brecciation stage 3, one of the most productive mineralization phases identified at Mocoa to date. While MD-043 previously intersected this zone, it exited the phase toward the end of the hole. MD-045 aims to refine understanding of this critical phase by testing its extension farther south and at depth, where the potential feeder zone may reside.

The potential for resource expansion to the west of the known mineral resource at Mocoa has been significantly derisked following the clarification of the forestry reserve boundary by Colombian authorities (refer to the news release dated Nov. 12, 2024). This clarification has unlocked new opportunities for expansion and elevated the western extension's importance within the overall drilling program.

Brecciation stage 3, which controls the western high-grade core zone, is directly associated with the highest copper and molybdenum grades observed at Mocoa. It is characterized by potassic (potassium feldspar) altered hydrothermal breccia, with quartz, chalcopyrite and molybdenite as matrix infill, along with multiple fragments of early quartz diorite and dacite porphyries. Three-dimensional modelling of this hydrothermal breccia indicates a mineralized north-northwest-trending corridor measuring approximately 1,500 metres in length, 225 metres in width and 1,000 metres in depth.

Qualified person and technical notes

Edwin Naranjo Sierra, exploration manager of Libero Copper, is the designated qualified person within the meaning of National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds an MSc in Earth sciences and is a fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and the Society of Economic Geologists.

Mineralized zones at Mocoa are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.

Libero Copper operates according to a rigorous quality assurance and quality control (QA/QC) protocol consistent with industry best practices. Core diameter is a mix of HQ and NQ depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawn, sampled and tagged in maximum two-metre intervals, stopping in geological boundaries. Samples were bagged, tagged and packaged for shipment by truck from Libero Copper's core logging facilities in Mocoa, Colombia, to the Actlabs-certified sample preparation facility in Medellin, Colombia. Actlabs is an accredited laboratory independent of the company. Samples are processed in the Medellin facilities, where they are analyzed for copper and molybdenum by four-acid digest atomic absorption (AA) analysis. The sample pulps are air freighted from Medellin to the Actlabs-certified laboratory in Guadalajara, Mexico, where they are analyzed for a suite of 57 elements using four-acid digest and ICP-MS. In order to monitor the continuing quality of assay data and the database, Libero Copper has implemented QA/QC protocols, which include standard sampling methodologies, the insertion of certified copper and molybdenum standard materials, blanks, duplicates (field, preparation and analysis) randomly inserted into the sampling sequence. QA/QC program also include the continuing monitoring of data entry, QA/QC reporting and data validation. No material QA/QC issues have been identified with respect to sample collection, security and assaying.

About the Mocoa porphyry copper-molybdenum deposit

The Mocoa deposit is located in the department of Putumayo, 10 kilometres from the town of Mocoa. Libero Copper's district-scale holdings cover over 1,000 square kilometres through titles and applications, encompassing most of the Jurassic porphyry belt in southern Colombia. Mocoa was discovered in 1973 when the United Nations and the Colombian government conducted a regional stream sediment geochemical survey. Between 1978 and 1983, an exploration program was carried out that consisted of geological mapping, surface sampling, ground geophysics (induced polarization and magnetics), 31 diamond drill holes totalling 18,321 metres and metallurgical test work. B2Gold subsequently executed diamond drill programs in 2008 and 2012.

The Mocoa deposit appears to be open in both directions along strike and at depth. Current work on the property has identified additional porphyry targets, including the possible expansion of known mineralization. The Mocoa deposit is situated in the Central Cordillera of Colombia, a 30-kilometre-wide tectonic belt underlain by volcano-sedimentary, sedimentary and intrusive rocks that range in age from Triassic-Jurassic to Quaternary and by remnants of Paleozoic metasediments and metamorphic rocks of Precambrian age. This belt hosts several other porphyry-copper deposits in Ecuador, such as Mirador, San Carlos, Panantza and Solaris's Warintza. Copper-molybdenum mineralization is associated with dacite porphyry intrusions of the Middle Jurassic age that are emplaced into andesitic and dacitic volcanics. The Mocoa porphyry system exhibits a classical zonal pattern of hydrothermal alteration and mineralization, with a deeper central core of potassic alteration overlain by sericitization and surrounded by propylitization. Mineralization consists of disseminated chalcopyrite, molybdenite and local bornite and chalcocite associated with multiphase veins, stockwork and hydrothermal breccias. The Mocoa deposit is roughly cylindrical, with a 600-metre diameter. High-grade copper-molybdenum mineralization continues to depths in excess of 1,000 metres.

About Libero Copper & Gold Corp.

Libero Copper is led by a team with rare experience -- having advanced projects from postresource discovery to the path of construction, including some of the few large copper projects built in the last 20 years. This real-world expertise drives Libero Copper's focus on relationships, responsibility, trust and a relentless commitment to sustainable progress.

At the core of Libero Copper's portfolio is the Mocoa copper-molybdenum porphyry deposit in Putumayo, Colombia. Mocoa stands as a cornerstone asset with immense potential for expansion.

Now, with the Fiore Group's bold company-building vision behind it, Libero Copper is uniquely positioned to fill a crucial gap in the copper industry -- advancing large-scale projects toward construction. Through this approach, Libero Copper is committed to creating lasting value for all stakeholders while positioning itself at the forefront of meeting the growing global demand for copper -- the metal driving progress in the modern economy.

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