Liberty Gold Reports New High-Grade Oxide Gold Drill Intercepts at Discovery Zone, Black Pine Gold Project, Idaho

The October 29, 2025 press release announces new high-grade oxide gold drill results from the Discovery Zone at the Black Pine Gold Project in Idaho. The drilling is part of the ongoing Feasibility Study program. Key intercepts include: - LBP1171: 85.3 meters (m) of 1.53 grams per tonne gold (g/t Au) - LBP1155: 59.4 m of 1.17 g/t Au - LBP1168: 27.4 m of 1.16 g/t Au - LBP1139: 25.9 m of 1.17 g/t Au - LBP1143: 91.4 m of 0.57 g/t Au

According to CEO Jon Gilligan, these results reinforce the Discovery Zone as an exceptional oxide gold system, demonstrating thicker-than-expected mineralization with consistent grade. The drilling is aimed at resource conversion, metallurgical modelling, and mine design for the Feasibility Study, and supports the view of the Discovery Zone as a high-margin mining phase.

This news is materially positive, reinforcing the quality and continuity of mineralization at one of the two key zones within the Black Pine project. The release comes on the heels of similarly strong results from the Rangefront Zone announced on October 15, 2025.

Reviewing the company's progression over the past year reveals a clear pattern of systematic de-risking and value creation: - Late 2024 - Early 2025: The company laid the groundwork by filing its Preliminary Feasibility Study (PFS), initiating the permitting process, and signaling its intent to focus solely on Black Pine by spinning out its Goldstrike asset. - April 2025: A crucial C$23 million bought deal financing at C$0.33 per unit secured the funding for the extensive 2025 work program. This was dilutive but necessary. - May-August 2025: Liberty Gold strengthened its project development team and commenced a 40,000-meter drill program. A series of positive metallurgical results were released, confirming high gold recoveries (80-90%) and rapid leach kinetics, significantly de-risking the processing flowsheet. - September 2025: The story reached a major inflection point with the announcement and subsequent closing of a C$28 million strategic investment by Centerra Gold Inc. at a premium price of C$0.56 per share. This investment by a recognized mid-tier gold producer provided a powerful third-party validation of the Black Pine project and the management team, causing a significant re-rating of the stock. - October 2025: The company has maintained momentum with non-dilutive cash from an asset sale, excellent drill results expanding the Rangefront Zone, and now, these strong results from the Discovery Zone.

The latest results are not a surprise but a crucial confirmation. After highlighting the growth potential at Rangefront, these results from Discovery prove that the core of the deposit is robust and performing as expected, if not better. For a development company, demonstrating consistency and converting resources to reserves ahead of a feasibility study is paramount. This news delivers on that front, increasing confidence in the project's economics and underpinning the recent share price appreciation. While the market has already priced in significant success, this steady flow of positive, de-risking news supports the current valuation and provides a solid foundation for future growth.

Liberty Gold Corp. is a Canada-based exploration and development company focused on advancing oxide gold deposits in the Great Basin, a premier mining jurisdiction in the Western USA. The company's flagship asset is the 100%-owned Black Pine Project in southeastern Idaho. Black Pine is a past-producing, Carlin-style, open-pit, heap-leachable gold project. The company published a robust Preliminary Feasibility Study (PFS) in October 2024 and is currently advancing the project through a full Feasibility Study, targeted for completion in H2 2026. The project has a large and growing resource base. Liberty Gold also owns the Goldstrike project in Utah, which it intends to spin out into a separate, publicly-traded company. All properties appear to be royalty-free, with the exception of a 0.5% NSR on Black Pine granted to Wheaton Precious Metals, of which the company has an option to repurchase half.