Liberty Gold Corp. reported results from 14 large-diameter ("PQ") core holes at its Black Pine Oxide Gold Project in southeastern Idaho; one core hole, LBP511CA, with an exceptional intercept of 100.4 metres ("m") grading 1.38 grams per tonne gold ("g/t Au") was released previously. PQ holes were drilled throughout the target areas of Discovery, E, M, J, F, CD and Rangefront zones with core samples and technical information from these holes being used for further metallurgical testing, geotechnical studies, and geological modeling.

Reverse Circulation ("RC") drilling is being carried out across these target areas in 2022 to facilitate discovery of near-surface mineralization and consolidation of zones into larger, continuous deposit areas. Liberty Gold is also pleased to report results from a series of RC holes testing historic waste rock storage and pit backfill areas, with gold mineralization identified in all areas. Results from 14 PQ core holes for geo-metallurgical and geotechnical purposes met or exceeded expectations in all areas, including the Discovery, Rangefront, F, M, E, CD and J zones.

Highlights include: 3.98 g/t Au over 25.3 m including 8.55 g/t Au over 9.6 m in LBP 499C in North Tallman. 4.80 g/t Au over 21.2 m including 11.0 g/t Au over 7.5 m in LBP508C in F Zone. 1.09 g/t Au over 29.1 m in LBP530C in M Zone.

Composites from four core holes in the Rangefront Zone were shipped to Kappes Cassiday and Associates in Reno, Nevada for metallurgical column testing. Additional column testing is planned for later in the year. RC drilling in historic waste rock storage and pit backfill areas throughout the property reported gold above the reporting cut-off in all areas, suggesting that much of the surficial material presently classified as unmineralized waste rock may be reclassified as mineralized material in a future resource estimate.

Results of metallurgical testing of material of this grade range and type are pending; further testing is planned for later in the year. RC drilling is presently focused on discovery of additional near-surface oxide mineralization, including targets in the F, M and Back Range zones, as well as expansion of the Rangefront Zone to the north. An access road is being constructed into the new South Rangefront target area to allow drilling to commence in this key target area in the third quarter.

Thirty-three RC holes were drilled to test for mineralization in and under waste rock storage and pit backfill in the Tallman, CD-I and B pits, and the large waste rock stores between Tallman and CD pit and in the A Basin area north of the Discovery Zone. Drilling was encouraging in that it encountered significant areas above reporting cut-off grade mineralization and with most intervals exhibiting moderate to strong cyanide solubility. A notable exception is a portion of the old Tallman Pit backfill which returned high grades with poor cyanide solubility due to the presence of organic carbon.

In particular, the A Basin waste rock storage area returned over 35 m of above reporting cut-off grade material in two holes. The results of this program suggest that much of the surficial "waste" material that presently lies within the resource pit may be reclassified as mineralized material in a future resource estimate.