LGD.TO · 2026-04-03

Liberty Gold Reports Q 2 2026 Financial and Operating Results

Financials

Release ID: 26 -21 August 12, 2026

Liberty Gold Reports Q2 2026 Financial and Operating Results

VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”), is pleased to announce its financial and operating results for the three and six months ended June 30, 202 6. All amounts are presented in United States dollars unless otherwise stated.

SECOND QUARTER OF 2026 AND RECENT HIGHLIGHTS

PROJECT HIGHLIGHTS – BLACK PINE During 2026, Liberty Gold advanced the Black Pine Gold Project (“ Black Pine ” or the “ Project ”) through resource growth, continuation of a feasibility study, and key federal permitting milestones, while also executing strategic corporate initiatives.

On April 3, 2026 1 we reported that the United States Forest Service published a Notice of Intent in the Federal Register to prepare an Environmental Impact Statement for Black Pine, simultaneously initiating the formal National Environmental Policy Act review process and i nitial 30 -day public scoping period that has now concluded .
On April 8, 2026 2, we reported final drill results from the remaining holes from the 2025 Black Pine drill program, highlights include:
- 1.04 grams per tonne of gold (“ g/t Au ”) over 19.8 metres (“ m”), including 5.28 g/t Au over 3.0 m in LBP1247 and 0.68 g/t Au over 41.1 m, including 1.47 g/t Au over 4.6 m in LBP1249 at Rangefront, and
- 0.64 g/t Au over 50.3 m, including 2.27 g/t Au over 7.3 m in LBP1185C and 1.05 g/t Au over 32.0 m, including 2.06 g/t Au over 12.2 m in LBP1250 at Discovery.
On May 19, 2026 3 we outlined a 2026 40,000 m drill program. This program has been expanded to 50,000 m in total, subject to drill rig availability. The 2026 drill campaign is focused on three priorities:
- Pre -Production De -Risking (“Drill -to-Measured”): Infill drilling to upgrade resources from indicated to measured classification within the initial 2 -3 years of the mine plan to increase production confidence in that key operating period;
- Exploration and Resource Growth: Drilling high -priority resource extension targets proximal to planned mining areas, as well as selected deposit scale targets; and
- Permitting & Engineering Support: Drilling to support mine plan optimization around phase sequencing and geotechnical material testing, infrastructure planning, and permitting or compliance requirements.
On August 5, 2026 4 we announced the submission of a Preliminary Design Report to initiate the Idaho cyanidation permitting process to the Idaho Department of Environmental Quality and noted that Liberty Gold is a member of the International Cyanide Management Institute and signatory to the International Cyanide Management Code.

CORPORATE HIGHLIGHTS

On April 27, 2026 5 we announced that Centerra Gold Inc. elected to exercise its “top -up right” to maintain its 9.9% equity interest in the Company as provided under the Investor Rights Agreement (the “IRA”). In connection with this election and the IRA, we issued 2,033,992 common shares at a price of C$1.17 per share, for total proceeds of approximately C$2.4 million.

1 See news release dated April 3 , 2026 4 See news release dated August 5, 2026 2 See news release dated April 8, 2026 5 See news release dated April 27 , 2026 3 See news release dated May 19, 2026

On April 30, 2026 6 we announced that Mr. Rob Pease would not stand for re -election to the Company’s Board of Directors at the upcoming Annual General Meeting of Shareholders and will remain engaged with Liberty Gold in a support capacity as Corporate Advisor.
On May 15, 2026 7 we announced that the Company had received a total of C$8.0 million from the exercise of common share purchase warrants that were issued in connection with the May 2024 private placement 8.
On June 17, 2026, we announced the voting results from the annual general and special meeting and thanked Mr. Robert Pease for his longstanding service, leadership and contribution to the Company over his 15 -year tenure. We also announced that Centerra exercised its top -up right a second time to maintain a 9.9% equity interest in the Company as provided under the IRA. In connection with this election, Centerra subscribed for 2,050,287 common shares of Liberty Gold at a pri ce of C$1.70 per common share, for aggregate proceeds of C$3.5 million.
On June 22, 2026, we published our 2025 Environmental, Social and Governance Disclosure Report, providing an update on the Company’s sustainability performance and key initiatives for the period January 1, to December 31, 2025. The report is available for download from the Company’s website at www.libertygold.ca/sustainability/ .

GOLDSTRIKE TRANSACTION

On April 27, 2026 9 we announced the closure of the previously announced 10 sale of the Goldstrike Project (”Goldstrike ”) located in Utah. The issued and outstanding shares of the Company’s subsidiary, Specialty American Metals Inc., that owns Goldstrike, were sold to Heliostar Metals Ltd. (“ Heliostar ”) for up to $72.5 million in total consideration (the “ Goldstrike Transaction ”) which is comprised of:
- $10 million in cash plus approximately 1.6 million Heliostar common shares valued at approximately $2.5 million, received on April 24, 2026;
- $10 million in cash to be paid on April 24, 2027;
- $10 million in cash to be paid on October 24, 2027;
- $15 million in cash to be paid on the earlier of the achievement of certain infrastructure -related milestones or April 24, 2031; and
- $25 million in cash to be paid on the earlier of release of a feasibility study, a construction decision or April 24, 2031.

All shares of Heliostar received as consideration in the Goldstrike Transaction are subject to a hold period under applicable Canadian securities laws, expiring on August 25, 2026.

GAGE TRANSACTION

On April 2, 2026 11 we announced the closure of the previously announced 12 asset purchase agreement (the “Gage Transaction ”) with Blue Moon Metals Inc. (“ Blue Moon ”), to sell interests in certain unpatented critical minerals focused mining claims and School and Institutional Trust Lands Administration (“ SITLA ”) leases in southern Utah (collectively, the “ Gage Project ”). On closing of the Gage Transaction, Liberty Gold received total consideration comprised of:
- Approximately $2 .7 million, via the receipt of 420,935 common shares of Blue Moon; and
- A 2.0% net smelter return royalty (“ NSR ”), payable on mineral production on the Gage Project claims, excluding land subject to SITLA leases, and subject to an option in favour of Blue Moon to repurchase 1.0% of the NSR at any time prior to achieving commercial production for a cash payment of $ 2 million.

6 See news release dated April 30, 2026 10 See news release dated March 23, 2026 7 See news release dated May 15, 2026 11 See news release dated April 2 , 2026 8 See news release dated May 21, 2024 12 See news release dated March 18, 2026 9 See news release dated April 27 , 2026

SELECTED FINANCIAL DATA

The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the three and six months ended June 30 , 2026, as prepared in accordance with IFRS Accounting Standards – IAS 34: Interim Financial Statements.

A copy of the Annual Financial Statements is available on the Company’s website at libertygold.ca or on SEDAR+ at www.sedarplus.ca.

The information in the tables below is presented in $’000s, except ‘per share’ data:

	Three months ended		Six months ended
	June 30 ,		June 30 ,
	202 6	202 5	202 6	202 5
Attributable to shareholders:	$43 ,03 2 $( 4,284 ) $37 ,00 5 $( 6,963 ) $4 1,948 $( 3,85 4) $35,485 $( 6,505 ) $0.08 $(0.01) $0.07 $(0.02) $0.07 $(0.01) $0.06 $(0.02)
Income/( Loss ) for the period from continuing operations				$( 6,963 )
Income/( Loss ) and comprehensive loss for the period
from continuing operations
Basic income/(loss) per share from continuing operations
Diluted income/(loss) per share from continuing
operations

	As at June 30, 202 6	As at December 31, 202 5
Cash and cash equivalents Working capital 13 Total assets Current liabilities Non -current liabilities Shareholders’ equity	$36,543 $43,471 $94,565 $5,696 $1,316 $87,553	$28,077 $26,013 $44,091 $5,406 $1,152 $37,534

ABOUT LIBERTY GOLD

Liberty Gold is a U.S. focused gold exploration and development company building and advancing a pipeline of gold assets in the Great Basin, one of the world’s most productive and mining friendly gold regions. The Company’s flagship asset is the 100% owned Black Pine Oxide Gold Project in southern Idaho, a large scale, past -producing run - of-mine heap leach system being advanced through feasibility and permitting toward a modern open -pit mining operation. The Company’s strategy is to responsibly develop high quality, long -life gold projects in supportive jurisdictions, led by an experienced team with a track record of discovery, development and delivering long term value.

For more information, visit libertygold.ca or contact:

Susie Bell, VP, Investor Relations and Corporate Communications Phone: 604 -632 -4677 or Toll Free 1 -877 -632 -4677

[email protected]

Discussion and Analysis for the year ended December 31, 2025, available on the 13 These financial measures or ratios are non -IFRS financial measures or ratios. Certain Company’s website at libertygold.ca or on SEDAR+ at www.sedarplus.ca .

additional disclosures for non -IFRS financial measures and ratios have been incorporated by reference and additional detail can be found in the Company’s Management’s 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 bu siness, operations, properties and condition; planned de - risking activities at Liberty Gold’s mineral properties; future updates to the mineral resource, the potential quantity, reco verability

and/or grade of minerals; the potential size of a mineralized z one or potential expansion of mineralization; proposed exploration and development of Liberty Gold’s exploration property int erests; future water rights acquisitions;

the results of mineral resource estimates or mineral reserve estimates and preliminary fe asibility 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 expre ssions, 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 fu ture performance and is based upon a number of estimates and assumptions of management at the date the statements are made in cluding, 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 s tock exchange approvals;

receipt of a financing on time, obtaining renewals for existing licenses and permits and obtaining requir ed licenses and permits, labour stability, stability in market conditions, availability of equipment, results or timing of an y

mineral resources, results or timing of any baseline studies, resource conversion, pre - feasibility study, mineral reserves, or f easibility 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 n o assurance they will prove to be corre ct.

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 interpretati on of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral prop erty interests; changes in project parameters as plans continue to be

refined; current economic conditions; future prices of commod ities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; the timing and receipt of staged payments from the sale

of Goldstrike; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and suc cess of exploration activities generally; the timing or results of the publication of any mineral

resources, mineral reserves or fe asibility studies; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining i ndustry; delays in obtaining governmental and exchange approvals,

financing, timing of the completion of exploration as well as those factors discussed in the Annual Information Form of the C ompany dated March 25, 2026, 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 diffe r 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 in tention 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 forwar d- looking statements and forward - looking information. Readers should not place undue reliance on

forward - looking information. All f orward - 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 requiremen ts 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 resource s” 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 pr operty 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.

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