VANCOUVER, British Columbia, March 25, 2026 (GLOBE NEWSWIRE) — Liberty Gold Corp. (TSX:LGD, OTCQX:LGDTF) (“Liberty Gold” or the “Company”), is pleased to announce its financial and operating results for the fiscal year ended December 31, 2025. All amounts are presented in United States dollars unless otherwise stated.
RECENT PROJECT HIGHLIGHTS – BLACK PINE
During 2025 and early 2026, Liberty Gold advanced the Black Pine Gold Project (“Black Pine” or the “Project“) through resource growth, commencement of a feasibility study, and key federal permitting milestones, while also executing strategic corporate initiatives.
At the Black Pine project in Idaho
- On March 23, 20261, we announced that a coordinated federal and state permitting schedule has been posted to the United States government permitting dashboard, pursuant to the U.S. Federal Permitting Improvement Steering Committee Council FAST-41 federal permitting framework (“FAST-41”), which provides transparency on permitting milestones and timelines.
- On February 10, 20262 we announced an update to the independent Mineral Resource Estimate (the “MRE“) for Black Pine, conducted by SLR Consulting Ltd. and suitable for use in a Feasibility Study (“FS“). Highlights include:
- The MRE is reported at a cut-off grade (“COG“) of 0.10 grams per tonne (“g/t“) gold (“Au“) and consists of:
- Indicated Resource of 502.7 million tonnes (“Mt“) at an average grade of 0.30 g/t Au totalling 4,882,000 ounces (“oz”) Au; and
- Inferred Resource of 157.1 Mt at an average grade of 0.21 g/t Au totalling 1,050,000 oz Au.
- A high-grade subset of the MRE (contained within the 0.10 g/t Au resource pit), applying a COG of 0.50 g/t Au consists of:
- Indicated Resource of 60.1 Mt at an average grade of 0.99 g/t Au totalling 1,907,000 oz Au; and
- Inferred Resource of 6.4 Mt at an average grade of 0.74 g/t Au totalling 152,000 oz Au.
- The MRE is reported at a cut-off grade (“COG“) of 0.10 grams per tonne (“g/t“) gold (“Au“) and consists of:
- On January 20, 20263 we announced that Black Pine has been accepted into FAST-41 as a “Covered Project”. Acceptance as a Covered Project provides access to the full range of FAST-41 benefits with a coordinated permitting review, revised permitting timetable (within 60-days) and a project advisor.
- On November 12, 20254 we announced the formal commencement of a FS. M3 Engineering & Technology Corp., lead consultant for the Black Pine preliminary feasibility study, has been re-engaged as the lead FS consultant, with NewFields Inc. conducting the leach pad design, SLR Consulting Ltd. responsible for the mineral resource estimate and AGP Mining Consultants Inc. responsible for the mineral reserve estimate and mine plan.
- On November 26, 20255 we achieved a key permitting milestone as the United States Forest Service and the United States Bureau of Land Management have determined that the Mine Plan of Operations has met federal content standards and is deemed “Administratively Complete” under Title 36, Subpart 228 and Title 43, Subpart 3809 of the U.S. Code of Federal Regulations.
- On October 15, 20256 we announced the latest reverse circulation (“RC“) drilling results confirming that the Rangefront Zone at Black Pine continues to expand, with near-surface oxide gold mineralization now exceeding 150 meters (“m“) wide (north-south) and 200 m wide (east-west), introducing the potential for significant changes to mining economics and sequencing strategy. Highlights include:
- 0.41 g/t Au over 41.1 m at 45 m below surface in LBP1145
- East Rangefront: 0.28 g/t Au over 125 m in hole LBP1136
- West Rangefront: 0.20 g/t Au over 53.3 m and 0.92 g/t Au over 35.1 m in hole LBP1141
- North Rangefront: 0.37 g/t Au over 71.6 m in hole LBP1144.
- On October 29, 20257 we announced new high-grade oxide gold drill intercepts at the Discovery Zone. 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. The upper portion of this intercept has confirmed the extension of a previously mined high-grade shoot in the historic B Pit area. Notable intercepts include:
- 1.53 g/t Au over 85.3 m, including 5.19 g/t Au over 9.1 m in LBP1171
- 1.17 g/t Au over 59.4 m, including 3.44 g/t Au over 15.2 m in LBP1155.
- On January 22, 20268 we announced additional RC and core drill results from the 2025 drilling program; highlights include:
- Drill hole LBP1197 returning 0.86 g/t Au over 123.4 m including 2.45 g/t Au over 24.4 m
- The Rangefront resource pit has been further defined by drill holes LBP1213 (0.67 g/t Au over 61.0 m) and LBP1201 (0.45 g/t Au over 68.6 m)
- New drilling at Rangefront has defined shallow zones of new oxide gold mineralization, which are expected to convert previously modeled waste blocks to resource on the western, northwestern and southeast margins in drillholes LBP1211, LBP1217 and LBP1198, respectively.
RECENT CORPORATE HIGHLIGHTS
- On October 2, 20259 we announced the receipt of the first staged payment of $2.21 million related to the previously announced sale of our interest in the TV Tower copper-gold project.
- On October 20, 202510 we announced the appointment of Mr. Brad Ralph as Senior Vice President, Corporate Development.
- On December 01, 202511 we published our 2024 Environmental, Social and Governance disclosure update.
- On February 19, 202612 we announced the promotion of Ms. Susie Bell to Vice President, Investor Relations and Corporate Communications, and Mr. Matthew Zietlow to Vice President, Permitting and External Affairs.
GOLDSTRIKE TRANSACTION
At the Goldstrike project in Utah (“Goldstrike“)
- On March 23, 202613we announced that we had entered into a definitive share purchase agreement (the “Goldstrike Agreement“) to sell the issued and outstanding shares of the subsidiary, Specialty American Metals Inc., that owns Goldstrike to Heliostar Metals Ltd. (“Heliostar“) for $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 on closing of the Goldstrike Transaction (“Closing“);
- $10 million in cash 12 months from Closing;
- $10 million in cash 18 months from Closing;
- $15 million in cash on the earlier of the achievement of certain infrastructure-related milestones or 5 years from Closing; and
- $25 million in cash on the earlier of release of a feasibility study, a construction decision or 5 years from Closing.
- All shares of Heliostar received as consideration in the Goldstrike Transaction will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from Closing.
- Closing is subject to TSX.V regulatory approvals, as well as customary closing conditions for a transaction of this nature and is expected to occur within 30 days of announcement of the Goldstrike Transaction.
GAGE TRANSACTION
- On March 18, 202614 we announced that we had entered into an asset purchase agreement (the “Gage Agreement“) with Blue Moon Metals Inc. (“Blue Moon“), to sell interests in certain unpatented critical minerals focused mining claims and School and Institutional Lands Administration (“SITLA“) leases in southern Utah (collectively, the “Gage Project“) for consideration of 420,935 common shares in Blue Moon plus a 2.0% net smelter return royalty (the “Gage Transaction“). Under the terms of the Gage Agreement, on closing of the Gage Transaction, Liberty Gold will receive total consideration comprised of:
- Approximately $2 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.