Liberty Gold Reports New High-Grade Oxide Gold Drill Intercepts at Discovery Zone, Black Pine Gold Project, Idaho

Rhea-AI Summary

Liberty Gold (OTCQX: LGDTF) reported new high‑grade oxide gold drill intercepts from nine infill holes at the Discovery Zone, Black Pine, Idaho.

Key results include 1.53 g/t Au over 85.3 m (including 5.19 g/t Au over 9.1 m) in LBP1171 and 1.17 g/t Au over 59.4 m (including 3.44 g/t Au over 15.2 m) in LBP1155. These nine holes are the first of a planned 35–40 hole program within a ~40,000 m feasibility drill program.

Results confirm lateral continuity of near‑surface oxide mineralization, validate high‑recovery metallurgical domains, and will be incorporated into the updated Feasibility Resource model scheduled for Q4 2025. Additional rigs continue drilling and more assays are pending.

Positive

• LBP1171: 1.53 g/t Au over 85.3 m
• LBP1155: 1.17 g/t Au over 59.4 m
• Discovery supports conversion of Inferred to Indicated for Feasibility
• Results validate highest recovery metallurgical zones (cyanide soluble assays)
• Updated Feasibility Resource model scheduled for Q4 2025

Negative

• Reported widths are drilled; true widths not yet known
• Results represent 9 of planned 35–40 holes in Discovery (early-stage conversion)
• Additional assays pending—further data could change model inputs

1.53 g/t Au over 85.3 meters, including 5.19 g/t Au over 9.1 meters in LBP1171 
1.17 g/t Au over 59.4 meters, including 3.44 g/t Au over 15.2 meters in LBP1155

VANCOUVER, British Columbia, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce strong oxide gold assays from nine infill drill holes in the Discovery Zone at its Black Pine Gold Project (“Black Pine”) in southeastern Idaho. These results are part of the ongoing ~40,000 metre feasibility drill program designed to support resource conversion, metallurgical modelling, geotechnical studies and mine design.

This series of holes in Discovery were planned to increase confidence in the mineralization and metallurgical models in an area previously defined largely by historic drilling. Notably, drill hole LBP1171 contains the 8^th highest unmined intercept at Black Pine on a grade-thickness basis. The upper portion of this intercept has confirmed the extension of a previously mined high-grade shoot in the historic B Pit area, which will now be included in the upcoming Feasibility Resource model.

Overall, the Discovery Zone continues to demonstrate excellent continuity of near-surface oxide mineralization with high-grade domains that are laterally continuous in multiple directions. These results are from the first 9 drill holes of a planned 35-40 drill hole program in the Discovery area. (see below Figure 1: Cross Section through the Discovery Zone and Figure 2: Plan Map of the Discovery Zone with current drill holes).

Key Points:

• High-grade oxide gold intercepts were returned across multiple holes, including (widths are reported as drilled, true widths are not yet known):
  • 5.19 grams per tonne gold (“g/t Au”) over 9.1 meters (“m”) including 21.3 g/t Au over 1.5 m within 1.53 g/t Au over 85.3 m in hole LBP1171
  • 3.44 g/t Au over 15.2 m within 1.17 g/t Au over 59.4 m in hole LBP1155
  • 2.44 g/t Au over 10.7 m within 1.16 g/t Au over 27.4 m in hole LBP1168
  • 2.35 g/t Au over 10.7 m within 1.17 g/t Au over 25.9 m in hole LBP1139
  • 1.84 g/t Au over 7.6 m within 0.53 g/t Au over 51.8 m in hole LBP1163
  • 1.10 g/t Au over 6.1 m within 0.57 g/t Au over 91.4 m in hole LBP1143
    

• Multiple stacked, flat-lying zones of oxide mineralization show excellent continuity in the core of Discovery, supporting the existing grade modeling and conversion of Inferred to the Indicated ounces category for the Feasibility Study.
  
• Drilling has also validated the metallurgical models used in the PFS study with all intercepts confirming or expanding the highest recovery metallurgical zones based on cyanide soluble assay results.
• Results will feed directly into the updated Feasibility Resource model scheduled for Q4 2025, underpinning mine design, metallurgical domain modelling, and early-phase production planning.
• One core and three RC drill rigs continue drilling within Discovery and Rangefront zones, with additional assays pending.

Jon Gilligan, President and CEO, stated: “While Rangefront expands towards a potential cornerstone starter pit, today’s Discovery Zone results reinforce why Black Pine is an exceptional oxide gold system. We are drilling thicker-than-expected oxide mineralization with consistent grade — precisely the type of material required for Feasibility conversion. These results reinforce Discovery as a high-margin mining phase with strong leach performance and clear potential to add ounces to the resource.”

Figure 1: Cross Section through the Discovery Zone

Figure 2: Plan Map of the Discovery Zone with current drill holes

Next Steps

One reverse circulation (“RC”) rig is currently working on resource conversion and focused, multi-purpose geotechnical drill holes in the Discovery Zone. Two RC rigs and one drill core rig are working in Rangefront on resource expansion and metallurgical sampling, and all rigs have been running double-shifts to increase production. A third RC rig is completing hydrologic monitoring holes and when completed will switch to exploration holes in Rangefront. A geotechnical rig is expected to arrive in early November to complete the site soil 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_20251029

For a table outlining the top 25 unmined drill intercepts at Black Pine where hole LBP1171 ranks in the top ten grade-thickness intervals, click here: https://libertygold.ca/images/news/2025/October/BP_Top25UnminedIntercepts_20251029

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 0.10 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 50% and 100% of the reported lengths due to varying drill hole orientations but are typically in the range of 70% 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, resource conversion, pre-feasibility study, mineral reserves, or 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/364cb7ff-3857-49b3-ada8-e4728cf53c9d

https://www.globenewswire.com/NewsRoom/AttachmentNg/bda4c8ea-1de5-428b-8ab0-30d8a5fae7d0

FAQ

What drill intercepts did Liberty Gold (LGDTF) report on October 29, 2025 at Black Pine Discovery Zone?

Liberty Gold reported intercepts including 1.53 g/t Au over 85.3 m (LBP1171) and 1.17 g/t Au over 59.4 m (LBP1155), among others.

How will the October 29, 2025 Discovery Zone results affect Liberty Gold's Feasibility Study (LGDTF)?

The results will feed into the updated Feasibility Resource model scheduled for Q4 2025 to support mine design and metallurgical domain modelling.

Do the October 2025 drill results show consistent oxide mineralization at Black Pine (LGDTF)?

Yes; the company reported lateral continuity of near‑surface oxide mineralization with multiple high‑grade domains in Discovery.

Are the reported drill widths true widths for Liberty Gold's (LGDTF) Black Pine results?

No; the release notes widths are drilled and true widths are not yet known.

How many drill holes at Discovery were reported on October 29, 2025 and how many are planned (LGDTF)?

Nine infill holes were reported as the first of a planned 35–40 hole program in Discovery.

Have Liberty Gold (LGDTF) assays validated metallurgical performance at Black Pine?

Yes; intercepts confirmed or expanded the highest recovery metallurgical zones based on cyanide soluble assays.