Mr. Ian Harris reports

LIBERO COPPER PROVIDES UPDATE ON EASTERN STEP-OUT HOLE MD-046, ADVANCING RESOURCE EXPANSION AT MOCOA PORPHYRY COPPER-MOLYBDENUM DEPOSIT IN COLOMBIA

Libero Copper & Gold Corp.'s hole MD-046 is under way. It is the third hole of its 14,000-metre resource expansion drilling program at the Mocoa porphyry copper-molybdenum deposit in Putumayo, Colombia.

Highlights:

• Building on the results from holes MD-043 (refer to news release dated April 26, 2022), MD-044 (refer to news release dated Jan. 6, 2025) and MD-045 (refer to news release dated Feb. 26, 2025), hole MD-046 is strategically designed as a stepout drill hole to test mineralization beyond previously drilled areas. This hole is part of Libero Copper's continuing resource expansion program at the Mocoa deposit.
• MD-046 is designed to evaluate the continuity of copper and molybdenum mineralization within areas previously modelled as waste in the current pit-constrained resource. This stepout hole is built off the strong results of MD-044 and will test mineralized extensions beyond previous drilling, including MC08DH037 (2008) and MC12DH041A (2021).

"Our team is excited to move eastward with MD-046, building confidence built off MD-044. This stepout hole is a direct response to the consistent zones we've encountered, and it exemplifies our commitment to methodically expand Mocoa's footprint," stated Ian Harris, president and chief executive officer. "Each new metre drilled reaffirms Mocoa's standing as one of Colombia's most significant copper-molybdenum systems."

Hole MD-046

Libero Copper continues to advance its 14,000-metre resource expansion drilling program at the Mocoa porphyry deposit with the start of hole MD-046, the third hole of the campaign and a key stepout to the east. As of March 12, 2025, MD-046 has reached a depth of 650 metres and is currently advancing beyond this point. MD-046 is strategically designed to extend mineralization beyond previously drilled areas and assess the continuity of the deposit within the pit-constrained resource model. Positioned at an azimuth of 40 degrees with a minus-65-degree dip, this stepout hole targets areas at depth and laterally, including zones previously modelled as waste. It is the first hole designed to drill test the copper and molybdenum grades in the East Valley.

This eastern expansion is a critical component of Libero Copper's resource growth strategy, aiming to unlock additional copper-molybdenum potential and further define the scale of the Mocoa deposit. Results from MD-046, along with recent released results from holes MD-044 (refer to news release dated Jan. 6, 2025) and MD-045 (refer to news release dated Feb. 26, 2025), will contribute to defining the scale and continuity of the Mocoa porphyry deposit.

The first 90 metres of MD-046 intersected a strongly argillized dacite porphyry with multiple generations of D-veinlets, locally altered to iron oxides. Below this depth, the hole intercepted an early potassic-altered (K-feldspar) porphyry, hosting well-developed A-type veinlets and disseminated chalcopyrite and molybdenite mineralization. As drilling continues, MD-046 is advancing through an intermineral porphyry unit, locally brecciated, exhibiting strong sericite alteration. This unit contains multiple C-type (chalcopyrite-dominant) veinlets crosscutting earlier B-type (molybdenite-dominant) veinlets, indicating a prolonged and complex mineralizing event. MD-046 is advancing beyond the conceptual resource pit depth and continues to intersect mineralization, with visible chalcopyrite and molybdenite. This is particularly significant as MD-046 represents the first stepout to the east into areas previously modelled as waste.

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.

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 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, sawed, 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 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. 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, and 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 testwork. 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 volcanosedimentary, 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 -- a cornerstone asset where the company is actively drilling. In a market increasingly hungry for new copper supply, Libero is focused on systematically expanding and derisking Mocoa's resource base.

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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