Liberty Gold Corp. reported results from Phase 4B and 4C metallurgical bottle roll and column testing of gold mineralization in 36 variability composites taken from the Black Pine Oxide Gold Project (?Black Pine?) in southeastern Idaho. Additionally, final assay results are released on the remaining 4 metallurgical core holes drilled in 2023 to provide samples for the Phase 5 metallurgical test program.

HIGHLIGHTS are: 36 variability composites from the Phase 4B and 4C test programs were selected from large-diameter (?PQ?) drill core from Discovery Zone, F Zone, Tallman, M Zone, and C/D Zone, representing a range of sample types across lithology and gold (?Au?) grade. Key results include: 84.2% weighted average gold extraction1 from column leach tests for the 31 oxide composites; Gold extractions ranged from 52.7% to 94.2% for the oxide composites; >80% of leachable gold extracted within 10 days; Metallurgical testwork results on 149 composites and six bulk samples over five years are highly consistent, showing rapid leach kinetics, predictable grade-recovery and size-recovery relationships; Phase 5 composite selection and sample preparation is under way on an additional 25 variability composites from previously untested areas. BLACK PINE METALLURGICAL TEST WORK: Liberty Gold has completed multiple phases of metallurgical testing at Black Pine including: Bulk sample column tests: Phase 1A2 (6 x 300 kilogram surface bulk samples): 78.9% weighted average gold extraction, ranging up to 92.8%; Variability composite column tests (149 composites from PQ drill core); Phase 1B3 (29 composites): 82.9% weighted average gold extraction, ranging up to 94.5%; Phase 24 (45 composites): 80.8% weighted average gold extraction, ranging up to 94.8%; Phase 3 (15 low-grade composites): 65.2% weighted average gold extraction ranging up to 80.8%.

Phase 4A (24 composites): 86.9% weighted average gold extraction, ranging up to 95.8% - Phase 4B and 4C (36 composites): 84.2% weighted average gold extraction, ranging up to 94.2%. Phase 4B and 4C composites and the pending Phase 5 variability test program filled gaps in the Black Pine resource metallurgical database. The Phase 4B and 4C data have updated the metallurgical recovery equations supporting the deposit-wide gold recovery model.

Phase 5 initial results are expected in second quarter of 2024 and will support the on-going pre-feasibility engineering and economic study at Black Pine. Phase 4B Test Results - Phase 4B focused on gap filling in Discovery Zone, E-Pit, F Zone, Tallman, I-Pit and M Zone, sampling across rock types, gold grades and geo-metallurgical zones with 25 composites taken. Twenty (20) of these composites represent typical oxide (database Au cyanide solubility > 65%) material at Black Pine, while 5 additional composites were made up to test leach recoveries in lower gold solubility oxide materials (Au Cyanide solubility between 25% and 65%).

Phase 4B column tests produced the following results: Oxide material produced a weighted average 86.1% gold extraction, with a range from 56.9% to 94.2% gold extraction. Phase 4C Test Results - Phase 4C focused exclusively on the C/D Pit area with 11 composites of oxide gold mineralization taken. Bottle roll and column leach test results are in linked table below.

Phase 4C column tests produced the following results: A weighted average 73.4% gold extraction, with a range from 52.7% to 89.8% gold extraction. Laboratory Test Program - Samples for Phase 4B and 4C test work were obtained through drilling PQ core holes. Composites were selected through consideration of rock type, alteration, and gold grade to achieve a wide range of geo-metallurgical types.

Composites were assembled in Elko, Nevada by Liberty Gold staff, utilizing one-half or three-quarter sawed core, then shipped to Kappes, Cassiday and Associates in Reno, Nevada for metallurgical testing, comprising bottle rolls, column testing and geo-metallurgical characterization, including gold and silver assays, cyanide solubility, sulphur and carbon speciation, preg-robbing analysis, ICP geochemical assays, whole rock analysis, QXRD, load-permeability tests and environmental chemistry. Program details included: Direct Leach (?DL?) and Carbon-in-Leach (?CIL?) coarse bottle roll tests (target of 80% passing 10 mesh or 1.7 millimeter (?mm?) particle size); DL and CIL fine bottle roll tests (target of 80% passing 200 mesh or 75 micron particle size); The DL samples were rolled/agitated in bottles in a 1.0 grams per liter (?g/l?) dilute sodium cyanide (?NaCN?) solution for 72 hours (for 200 mesh) or 144 hours (for 10 mesh). The CIL samples were rolled/agitated in bottles for 72 hours in a 1.0 g/l dilute NaCN solution, containing 20 g/l of activated carbon.

Column composites were leached in 10.2 mm and 15.2 mm (four and six inch) diameter columns between 93 and 107 days. And were leached with low strength (0,50 g/l) NaCN solution. Gold and silver were recovered from column leach pregnant solutions by passing it through a small (separate) column containing activated carbon.