Liberty Gold Corp. reported assay results from the 2023 core drill program at the Back Range Zone at its Black Pine Oxide Gold Project ("Black Pine") in southeastern Idaho. Results released herein are from the first three drill holes of the 11 hole, property-wide core program.

Drill results from the three core drill holes that were completed in the Back Range Zone have been received with results confirming the strong grades and near-surface mineralization. These core holes were drilled for a Phase 5 metallurgical program projected to begin in 2024 and to gain insights into the complex structural controls in this area. Drill holes LBP956C and LBP968C were the second and third best holes drilled to date at the Back Range Zone on a grams per tonne x meter (?g/t x m?) basis and intersected strong grades of oxide gold mineralization, with the cyanide soluble assays showing an average of 74% and 87% recovery respectively.

These drill results come from a highly deformed, strongly decalcified package of structurally thickened middle plate siltstones. Drill hole LBP969C was drilled for metallurgical testing purposes and hit as-expected results. Liberty Gold anticipates approval of the fourth Plan of Operations by mid year that will allow to drill test the 800 meter long gap between Back Range and the main Discovery area.   An updated resource estimate is being completed, which will be the basis for the Pre-feasibility Study due in second half of 2024.

While these new results will not be included in the new resource estimate, they will be included in future resource updates.  Additional core holes in the Discovery area, Tallman and M Zones are pending final analysis. Based on these results and reverse circulation drilling in 2023, additional drilling is warranted in Back Range in 2024. New insights on structural controls at Back Range show strong targets to the west, southeast and northeast where the middle plate rocks are largely untested.

Also, the permit amendment Plan of Operations (?PoO?) #4, is expected to be received in first half of 2024. This permit will increase drillable target area by 36% to cover a 40 square kilometer area, adding another 7 large target areas and will allow access to the high priority target area located in between the Back Range Zone and the Main Discovery area. This target encompasses an area of approximately 1.5 square kilometers that has only seen sparse, shallow historic drilling.

The Back Range Zone hosts an indicated resource of 32,000 ounces of oxide gold averaging 0.62 grams per tonne of gold (?g/t Au?) in 1,584,000 tonnes (?t?) and an inferred resource of 77,000 ounces of oxide gold averaging 0.63 g/t Au in 3,783,000 t. During 2023, 38 holes were drilled in the Back Range Zone totaling 5,307 meters (?m?). This new drilling and a new structural model will be included in an updated resource study projected to be completed in first half of 2024. Previously released highlight assays from holes drilled at Back Range in 2023 include: 3.10 g/t Au over 27.4 m from 50.3 m depth including 4.33 g/t Au over 18.3 m in LBP796.

0.78 g/t Au over 115.8 m from 15.2 m depth including 1.29 g/t Au over 25.9 m in LBP782. 3.40 g/t Au over 32.0 m, from 74.7 m depth including 6.74 g/t Au over 9.1 m in LBP945. 1.41 g/t Au over 22.9 m, from 79.3 m depth including 4.28 g/t Au over 6.1 m in LBP943.