0.74 g/t Au over 40.3 m including 1.06 g/t Au over 10.1 m

0.51 g/t Au over 58.4 m and 0.85 g/t Au over 22.7 m

Liberty Gold Corp. (TSX:LGD) (OTCQX:LGDTF) is pleased to report 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, CEO 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 center 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 grams per tonne gold over 46.3 meters 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. Overall 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 meters 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. Drill intersection highlights from this drilling are included in the table below.

DRILL HOLE MAP:

 DRILL RESULTS TABLE*

* Results are reported as drilled thicknesses, with true thicknesses approximately 50% to 90% of drilled thickness. Some intercepts have zones of reduced cyanide solubility. Gold grades are uncapped. Au (g/t) = grams per tonne of gold.

2024 WORK PLAN

• The permit amendment Plan of Operations #4 for the expanded exploration area on United States Forest Service 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 underway on the Pre-Feasibility Study for the Black Pine with results expected in Q3 2024.

QUALIFIED PERSON

Peter Shabestari, P.Geo., 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 (“NI 43-101”) and has reviewed and validated that the information contained in the release is accurate.

ABOUT LIBERTY GOLD

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. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.