0.61 g/t Au over 76.2 m including 2.47 g/t Au over 12.2 m

0.45 g/t Au over 73.2 m including 1.50 g/t Au over 3.0 m

Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF) is pleased to report the latest assay results from an additional 8 holes drilled in the Rangefront Zone with most holes focused on the eastern margin of the known deposit area. These results are part of the 2023 Reverse Circulation drill exploration program at its Black Pine Oxide Gold Project in southeastern Idaho.

RANGEFRONT ZONE HIGHLIGHTS:

• 0.61 grams per tonne gold over 76.2 meters including 2.47 g/t Au over 12.2 m in hole LBP941.
• 0.45 g/t Au over 73.2 m, including 1.50 g/t Au over 3.0 m in hole LBP954.

Drill results from 8 additional RC drill holes completed in the Rangefront Zone have been received with results showing the known mineralization continues to the east and becomes thicker with better grades than blocks in the current resource model. These holes were drilled on the eastern margin of the resource area and were planned to test for extensions to the modeled mineralization and to convert inferred resource blocks to indicated resource blocks as the area had only been sparsely tested with shallow historic drilling.

This drilling shows a large area of oxide mineralization, that is predominantly outside of the current pit constrained resource and is still open for expansion to the north and south. This area is roughly 200 m x 200 m in plan view and extends from near surface to a depth of about 200 meters. The area to the east is unconstrained by any drilling and the area to the south has only been tested by shallow historic drilling.

This new drilling pushes the known extents of mineralization at the Rangefront Zone to an area roughly 1000 m x 1000 m with room to grow the deposit to the east, north and south.

Figure 1: Rangefront Zone, Black Pine Oxide Gold Project

Jason Attew, President and CEO of Liberty Gold commented, “These new drill results from Rangefront highlight the ongoing discovery potential at Black Pine, we know when we see these thick, oxide mineralized zones that they can continue for quite some distance, and we look forward to additional drill testing in this area with the goal of expanding the existing resource pit substantially.”

RANGEFRONT ZONE HIGHLIGHT TABLE*

^{*Please refer to the full table at the link above for complete results. Results are reported as drilled thicknesses, with true thicknesses approximately 50% to 90% of drilled thickness. Gold grades are uncapped. Au (g/t) = grams per tonne of gold.}

RANGEFRONT ZONE KEY POINTS

• The eastern margin of Rangefront continues to show strong oxide mineralization that will be included in the resource estimate update to begin later this year.
• Stronger grades and thickness of mineralization indicate that the preferential host rocks are increasing in thickness to the east.
• Mineralization begins at or near surface in bedrock that is covered by a thin layer of post-mineral alluvium.
• Newly discovered mineralization in the eastern margin of Rangefront is all oxide and above the water table.

For a map and cross section showing locations of drill holes in this release click here:

http://ml.globenewswire.com/Resource/Download/2f7e2a51-5b4e-4bb2-8364-ed07f98a1f3f

For a table showing complete drill results for the current release click here:

http://ml.globenewswire.com/Resource/Download/9655f6bf-282f-47da-9bf5-ef5b205ea07e

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 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.