Liberty Gold Corp. announced the first tranche of reverse circulation (“RC”) drill results from the 2022 winter program in the Rangefront Focus Area (“RFA”) at the Black Pine oxide gold deposit in southern Idaho (“Black Pine”). The winter program in the RFA focused on both step-out and resource definition drilling.

An additional 23 RFA drill holes are pending. Today's drill results further define and expand the higher-grade core zone within the RFA to an area of approximately 500 meters (“m”) by 1 kilometer (“km”) with high-grade drill intercepts ranging from 20 to 115 m in length. The mineralization trends shallower as drilling expands the footprint east toward the current Rangefront resource pits and to the north towards the historic heap leach pad.

The lower-grade mineralized envelope surrounding the high-grade core is also closer to surface. This should have a positive impact on strip ratio in a future mining scenario. Resource definition drilling exceeded expectations in delivering additional high-grade oxide gold intercepts at shallow depths and confirmed multiple zones of greater than 100 m intercepts of continuous mineralization.

Today's results from step-out drilling suggest that gold mineralization is open to the north and west. Results are pending from step-out drilling to the northeast. Additionally, shallow historic drilling indicates that mineralization is open to the east, where an expansion to the Plan of Operations is underway to facilitate access for drilling later in the year.

RANGEFRONT FOCUS AREA HIGHLIGHTS: Winter drilling in the RFA focused on resource definition in the central part of the zone and step-out drilling, particularly to the northwest and northeast. Drill results exceeded expectations in delivering additional high-grade oxide gold intercepts at relatively shallow depths and multiple +100 m intercepts of continuous mineralization. The core zone within the RFA now encompasses an area of approximately 500 m x 1 km.

The core zone has been extended to the east, as evidenced by LBP554 which delivered a long interval of high-grade gold mineralization starting from a projected depth of 80 m. LBP565 continued to expand the core zone to the north towards the historic heap leach pad, with mineralization starting at a projected depth of 40 m. LBP539 (18.3 m grading 1.53 grams per tonne gold (“g/t Au”)) and LBP557 (16.8 m grading 1.34 g/t Au) extend high-grade mineralization in a north-westerly direction, with mineralization open to the west and northwest Results are pending in a north-easterly direction. An amendment to the Plan of Operations is pending to allow further access in this direction, as well as along the eastern edge of the RFA where historic shallow drill holes bottom in mineralization. Assay results for a further 23 holes within the RFA drilled in Q1-2022 are pending.

Drilling continues at Black Pine with 2 drills currently focused on a new area between the historic Tallman and CD pits.