Black Pine Oxide Gold Project, Idaho - Liberty Gold’s Drill Success Signals Resource Growth Potential at Rangefront

Rhea-AI Summary

Liberty Gold (OTCQX: LGDTF) has reported promising drill results from its Black Pine Oxide Gold Project in Idaho, particularly in the Rangefront zone. Key highlights include intercepts of 1.27 g/t Au over 22.9 meters and 0.62 g/t Au over 53.3 meters outside the current Reserve pit.

The Rangefront area, discovered in 2021, contains 1,619,000 Indicated and 296,000 inferred ounces of gold. The zone shows exceptional leach performance with 86.9% gold extraction in metallurgical testing. The company plans approximately 50 additional RC holes and 12,000 meters of drilling at Rangefront in 2025, viewing it as a potential 2 to 3 million ounce opportunity.

Drill intercepts include:
LBP1099 with 1.27 g/t Au over 22.9 meters outside the Resource pit
LBP1124 with 0.62 g/t Au over 53.3 meters outside the Reserve pit

VANCOUVER, British Columbia, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to report continued success from its 2025 drill program at the Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho. The initial reverse circulation (“RC”) assay results from the Rangefront zone build confidence in the continuity of oxide gold mineralization to the north, east and west of the current Resource pit. The feasibility drill program is demonstrating significant potential for both resource expansion and reserve conversion in the upcoming Feasibility Study.

Key Points:

• Multiple stacked zones of higher-grade oxide gold mineralization have been confirmed beyond the current Rangefront Resource Pit. Grades and widths are consistent with previous drilling (see Figure 2 below).
• The near surface high grade zone in the western Rangefront area remains open for expansion, with strong continuity to the northwest toward the heap leach pad and to the east. This is an area previously categorized as waste.
• New drill results bolster confidence in converting over 250,000 ounces of gold in Resources to Reserves currently locked by proximity to legacy heap, building on previously released sonic drilling that indicated reprocessing legacy heap material could unlock Reserve Pit design potential. (see press release August 27, 2025).
• Legacy heap leach pad reprocessing could unlock ~1 square kilometer of new exploration potential and connect Rangefront mineralization to the main Discovery Area. (see Figure 1 below)
• Rangefront remains open in multiple directions and is emerging as a strategic starter pit for future mining operations.
• ~50 additional RC holes and 12,000 meters (“m”) of drilling at Rangefront are planned for 2025.

See https://vrify.com/decks/19856 for a dynamic 3D view of drill results at Rangefront Zone and implications for potential Resource expansion and Reserve conversion.

Jon Gilligan, President and CEO, stated: “The latest assay results at Rangefront underscore the exceptional potential of the wider Rangefront - Leach Pad area to drive meaningful resource and reserve growth. With its exceptional leach performance, physical location at the base of the mountain directly adjacent to the proposed leach pad, Rangefront is growing, and we now see it as a 2 to 3 million ounce opportunity at Black Pine, likely larger than the Discovery Zone. It is becoming a very attractive starter location for initial mining operations. Paired with the recent implications from sonic drilling on the legacy heap, these results reaffirm the strategic significance of the Rangefront Area and position it as a key contributor to the future success of the Black Pine Project.”

Rangefront Area

Results from the first 28 RC holes in Rangefront, (6,506 m) represent the first RC assays of 2025 from an aggressive drill campaign that will continue into Q4. All 28 holes carry economic oxide gold mineralization. There are currently two RC drill rigs and one core rig operating at Rangefront. The drill program is focused on upgrading all resource categories in Rangefront as well as generating required data for metallurgical, hydrological, and geotechnical studies to support mine design and permitting. An additional 12,000 m of drilling in approximately 50 drill holes is planned for Rangefront in 2025.

The currently defined Rangefront Area is a 1,500 x 1,200 x 300 m thick zone of continuous oxide gold mineralization discovered by Liberty Gold in 2021. The Preliminary Feasibility Study resource estimate for Rangefront is 1,619,000 Indicated and 296,000 inferred ounces of gold¹, this resource did not include any of the exploration drilling completed 2024, which expanded Rangefront significantly in size to the west and east. Rangefront mineralization also compromises the most leach-amenable oxide material at Black Pine with metallurgical column leach testing showing a weighted average gold extraction of 86.9%. (see press release dated March 22, 2023).

¹See technical report “Black Pine Project NI 43-101 Technical Report, Oneida County, Idaho, USA”, effective June 1, 2024, and dated November 21, 2024, prepared by Valerie Wilson, P.Geo. SLR Consulting Ltd.; Todd Carstensen, RM-SME AGP Mining Consultants Inc.; Gary Simmons, MMSA GL Simmons Consulting, LLC; Nicholas T. Rocco, Ph.D., P.E.  NewFields Companies LLC; Benjamin Bermudez, P.E. M3 Engineering & Technology Corp.; Matthew Sletten, P.E. M3 Engineering & Technology Corp.; John Rupp, P.E. Piteau Associates Ltd. ; Daniel Yang, P.Eng., P.E. Knight Piésold Ltd.; Richard DeLong, M.Sc. Westland Engineering & Environmental Services Inc. on the Company’s profile on SEDAR+ at www.sedarplus.ca and press release dated October 10, 2024.

Other Areas

One RC rig is working on resource conversion and focused, multi-purpose technical drill holes in the Discovery Zone and CD Pit areas, with assays results pending on 10 holes. A fifth RC drill rig for Black Pine is scheduled to arrive in mid-September to complete the hydrological program, drilling monitoring wells, piezometer holes and conducting pump tests. After that, the rig will move to finalize resource conversion drilling in Q4. The Feasibility Resource estimate is on track for a late Q4, and the Feasibility engineering will commence directly thereafter.

Figure 1: Plan Map of the Rangefront Area with current drill holes

Grams per tonne Gold = “g/t Au”

Figure 2: Cross Section through the Rangefront Area

Grams per tonne Gold = “g/t Au”

For a table showing complete drill results for the current release, see this link: https://libertygold.ca/images/news/2025/September/BP_Intercepts_20250904.pdf

ABOUT LIBERTY GOLD
Liberty Gold is focused on developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. The Company is advancing the Black Pine Project in southeastern Idaho, a past-producing, Carlin-style gold system with a large, growing resource and strong economic potential. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios and in an environmentally responsible manner.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
info@libertygold.ca

Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate.

QUALITY ASSURANCE – QUALITY CONTROL 

Drill composites were calculated using a cut-off of 0.15 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 50% to 90% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t Au were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.10 parts per million an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. All holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko and Twin Falls prep lab listed on the scope of accreditation. 

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements or information concerning, future financial or operating performance of Liberty Gold and its business, operations, properties and condition; planned de-risking activities at Liberty Gold’s mineral properties; the potential quantity, recoverability and/or grade of minerals; the potential size of a mineralized zone or potential expansion of mineralization; proposed exploration and development of Liberty Gold’s exploration property interests; the results of mineral resource estimates or mineral reserve estimates and preliminary feasibility studies; and the Company’s anticipated expenditures.

Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, timely receipt of governmental or regulatory approvals, including any stock exchange approvals; receipt of a financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, results or timing of any mineral resources, feasibility study, mineral reserves, or pre-feasibility study; the availability of drill rigs, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; the timing or results of the publication of any mineral resources, mineral reserves or feasibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing, timing of the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 25, 2025, in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except for material differences between actual results and previously disclosed material forward-looking information, or as otherwise required by law.

Except for statements of historical fact, information contained herein or incorporated by reference herein constitutes forward-looking statements and forward-looking information. Readers should not place undue reliance on forward-looking information. All forward-looking statements and forward-looking information attributable to us is expressly qualified by these cautionary statements.

Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

The information, including any information incorporated by reference, and disclosure documents of Liberty Gold that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.

Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and “mineral reserves”. These terms are Canadian mining terms as defined in, and required to be disclosed in accordance with, NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards, adopted by the CIM Council, as amended. However, these standards differ significantly from the mineral property disclosure requirements of the United States Securities and Exchange Commission (the “SEC”) in Regulation S-K Subpart 1300 (the “SEC Modernization Rules”) under the United States Securities Act of 1934, as amended. The Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/dddc187d-0f5e-4700-9ab1-99ba0c4bc7e1

https://www.globenewswire.com/NewsRoom/AttachmentNg/d6c6909f-f4c1-4e29-93f0-e8cab89743b8

FAQ

What were Liberty Gold's (LGDTF) key drill results at Black Pine in September 2025?

Liberty Gold reported significant intercepts including 1.27 g/t Au over 22.9 meters outside the Resource pit and 0.62 g/t Au over 53.3 meters outside the Reserve pit at the Rangefront zone.

How much gold resource does Liberty Gold's Rangefront zone contain?

The Rangefront zone contains 1,619,000 Indicated and 296,000 inferred ounces of gold according to the Preliminary Feasibility Study resource estimate.

What is the gold extraction rate at Liberty Gold's Black Pine Rangefront zone?

Metallurgical column leach testing at the Rangefront zone showed a weighted average gold extraction of 86.9%, representing the most leach-amenable oxide material at Black Pine.

What are Liberty Gold's drilling plans for Rangefront in 2025?

Liberty Gold plans to complete approximately 50 additional RC holes and 12,000 meters of drilling at Rangefront in 2025, with currently two RC drill rigs and one core rig operating in the area.

What is the potential size of the Rangefront opportunity at Black Pine?

According to management, Rangefront is viewed as a 2 to 3 million ounce opportunity at Black Pine, potentially larger than the Discovery Zone.