Expansion of Near Surface High-Grade Oxide Mineralization at Rangefront Zone Reinforces Growth Potential at Black Pine Gold Project, Idaho

Rhea-AI Summary

Liberty Gold (OTCQX: LGDTF) reported additional results from a 40,000 m 2025 drill program at Black Pine, Idaho, with 14 holes (2,979 m) expanding the Rangefront near-surface oxide gold zone to >150 m (N-S) and >200 m (E-W) within the planned pit. Key intercepts include 0.41 g/t Au over 41.1 m (LBP1145), 0.92 g/t Au over 35.1 m (LBP1141) and 0.28 g/t Au over 125 m (LBP1136). Rangefront previously held 1.619M Indicated and 0.296M Inferred ounces (2024 PFS); metallurgical testing shows 86.9% weighted average gold extraction. An updated resource is planned to begin in Q4 2025 with ~15,000 m additional drilling planned for 2025.

Positive

• Rangefront expanded to >150 m N-S and >200 m E-W near surface
• Notable intercept: 0.92 g/t Au over 35.1 m in LBP1141
• Notable intercept: 0.28 g/t Au over 125 m in LBP1136
• Existing Rangefront resource: 1.619M Indicated and 0.296M Inferred ounces
• Metallurgical column leach weighted average gold extraction of 86.9%
• ~15,000 m additional drilling planned; resource update Q4 2025

Negative

• Reported intercept grades are largely low-to-moderate (e.g., 0.20–0.92 g/t Au)
• 2024 PFS resource did not include 2024 exploration drilling, requiring an update

0.41 g/t Au over 41.1 meters in LBP1145 at 45 m below surface
0.92 g/t Au over 35.1 meters in LBP1141

VANCOUVER, British Columbia, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to report additional strong results from its ongoing 40,000 meter (“m”) feasibility reverse circulation (“RC”) drill program at the Black Pine Gold Project (“Black Pine”) in southeastern Idaho, designed for resource infill and conversion, technical compliance for feasibility and expansion of the resource.

Building on the success announced in the Company’s September 4, 2025 press release, these latest results from 14 holes totalling 2,979 m of drilling, confirm that the Rangefront Zone continues to grow in strategically critical areas. Drill results importantly expand the near-surface oxide gold zone to >150 meters wide (north-south) and >200 meters-wide (east-west) in the upper portion of the Resource pit within what was previously waste blocks. (see below Figure 1: Cross Section through the Rangefront Area and Figure 2: Plan Map of the Rangefront Area with current drill holes) The newly expanded zone of near-surface oxide gold introduces the potential for significant changes to mining economics and sequencing strategy at Rangefront Zone as previously defined in the 2024 Preliminary Feasibility Study¹.

Key Points:

• Near-surface, higher-grade mineralization in western Rangefront continues to grow in size to the south, east and northwest, extending toward the historic heap leach pad area.
  • 0.41 grams per tonne (“g/t”) gold (“Au”) over 41.1 meters in LBP1145 at 45 m below surface
• Infill and conversion drilling continues to expand mineralization at Rangefront, with strong oxide gold grades and widths consistent with and extending the prior results.
  • East Rangefront: 0.28 g/t Au over 125 meters in hole LBP1136
  • West Rangefront: 0.20 g/t Au over 53.3 meters and 0.92 g/t Au over 35.1 meters in hole LBP1141
  • North Rangefront: 0.37 g/t Au over 71.6 meters in hole LBP1144
• Infill drilling continues to add ounces near surface in zones previously categorized as waste in the 2024 Preliminary Feasibility Study due to lack of drilling.
• Additional Metallurgical drilling planned for Q4 2025 in the Rangefront area will provide additional composites to improve coverage of the expanded resource areas for the Feasibility Study.
• Drilling at Rangefront is ongoing, with ~50 additional RC and core holes and 15,000 metres planned for 2025.
• Rangefront continues to emerge as a cornerstone growth area of the Black Pine Project, strategically located adjacent to infrastructure and the proposed leach pad. An update to the resource will begin in Q4 2025.

See https://vrify.com/decks/20346 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: “As highlighted last month, Rangefront just keeps getting better. The latest results reinforce our view that Rangefront will play a central role in the future Black Pine mine plan. With just under two million ounces already defined and mineralization open laterally in all directions, Rangefront is now the premier growth area at Black Pine and a potential important starter pit. The 2025 drilling is showcasing the strength and scale of the Black Pine gold system and further positions Rangefront as a key driver of resource expansion and future value creation for shareholders.”

Figure 1: Cross Section through the Rangefront Area

Figure 2: Plan Map of the Rangefront Area with current drill holes

Rangefront Area

There have been 14,289 meters of drilling completed in Rangefront in 2025 and there are another 15,000 meters planned. This is in addition to the 14,817 meters drilled in 2024 which were not included in the 2024 Preliminary Feasibility Study¹. Together this new drilling will inform the updated Resource Study planned to begin in Q4 2025. Drilling will continue through the winter.

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 2024 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.

Additional works

One RC rig is working on resource conversion and focused, multi-purpose technical drill holes in the Discovery Zone, with assays results pending. Two RC drill rigs are working in Rangefront and expect to be double-shifted to increase production. One core rig is moving to the Rangefront area to complete additional holes for geotechnical metallurgical testing. One RC rig is completing hydrologic holes and exploration holes in east Rangefront. A geotechnical rig is expected to arrive in early November to complete the site engineering works.

For a table showing complete drill results for the current release, see this link: https://libertygold.ca/images/news/2025/October/BP_Intercepts_20251015.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/30f81450-319c-408d-b5b2-af75540fdd68

https://www.globenewswire.com/NewsRoom/AttachmentNg/eed5c17c-ec6a-4e4f-bcb8-1cfc23828742

FAQ

What drill results did Liberty Gold (LGDTF) report at Black Pine on October 15, 2025?

Liberty Gold reported 14 holes (2,979 m) with highlights including 0.41 g/t Au over 41.1 m, 0.92 g/t Au over 35.1 m, and 0.28 g/t Au over 125 m at Rangefront.

How much gold is currently defined at Rangefront in the 2024 resource referenced by LGDTF?

The 2024 Preliminary Feasibility Study reported 1.619M Indicated and 0.296M Inferred ounces for Rangefront.

What impact could the October 15, 2025 Rangefront expansion have on Black Pine mine planning for LGDTF?

The expanded near-surface oxide zone (>150 m by >200 m) could alter mining sequencing and improve starter-pit economics pending the Q4 2025 resource update.

What are Liberty Gold's metallurgical results for oxide material at Black Pine (LGDTF)?

Metallurgical column leach testing shows a weighted average gold extraction of 86.9% for Rangefront oxide material.

How much additional drilling does Liberty Gold plan at Black Pine in 2025 after the October 15, 2025 release?

The company plans approximately 15,000 m of additional drilling in 2025, with about 50 additional RC and core holes planned at Rangefront.