Liberty Gold Reports Q3 2026 Financial and Operating Results

VANCOUVER, British Columbia, Nov. 06, 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 three and nine months ended September 30, 2026. All amounts are presented in United States dollars unless otherwise stated.

THIRD 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, completion of a feasibility study, and key federal permitting milestones, while also executing strategic corporate initiatives.

• On September 8, 2026, we announced the Black Pine Feasibility Study (“FS”) with a $2.4 billion Net Present Value (“NPV”)(5%) and 60% Internal Rate of Return (“IRR”) at $3,250 per ounce (“oz”) gold (“Au”) (after-tax)¹. The FS establishes Black Pine as a large-scale, long-life oxide gold development project based on a technically straightforward, open-pit, run-of-mine (“ROM”) heap-leach operation requiring no ore crushing, screening or agglomeration. The FS supports average annual payable Au production of 202,000 oz in Years 1-5 from a 4.04 million oz Au Probable Mineral Reserve, with an initial capital cost of $411.4 million and strong economic returns across a broad range of gold prices².
• On October 27, 2026³, we announced advancement toward construction readiness through the commencement of detailed engineering with M3 Engineering & Technology Corporation and NewFields Companies LLC and secured fabrication capacity for key long-lead electrical infrastructure and gold recovery equipment.
• On October 22, 2026⁴, we reported initial drill results from the drill program, highlights include:
  • Drilling defined a 200 meter (“m”) x 400m northern extension to the oxide gold mineralization at Rangefront with grades above current reserve cutoff. Mineralization remains open to the north.
  • Approximately 25 to 35 million tonnes of inferred material above resource cutoff has been targeted for resource classification upgrade.
    • Intercept Highlights:
    • LBP1341A: 0.42 g/t Au over 62.5 m Including 0.63 g/t Au over 15.2 m,
    • LBP1347: 0.36 g/t Au over 144.8 m Including 1.27 g/t Au over 18.3 m, and
    • LBP1293: 0.30 g/t Au over 91.4 m Including 0.54 g/t Au over 9.1 m.
  • Mineralized material above reserve cutoff has been defined throughout the Legacy Rock Storage Facility
    • Intercept Highlights:
    • BP26BF_CD039: 0.86 g/t Au over 59.4 m, and
    • BP26BF_A029: 0.29 g/t Au over 38.1 m.
• On September 17, 2026⁵, we reported results from the Phase 6 metallurgical test program that used bulk column leaching intended to simulate gold leach performance within a commercial ROM heap. The results continued to support feasibility study assumptions, confirming that gold recoveries are largely insensitive to particle size, validating modeled ROM recoveries, demonstrating rapid leach kinetics, and supporting projected reagent consumption and operating cost estimates. Permeability testing results further supported heap leach design assumptions, with six of seven run-of-mine samples demonstrating adequate solution percolation and reinforcing the effectiveness of planned ore blending strategies.
• On August 5, 2026⁶, we announced the submission of a Preliminary Design Report to initiate the Idaho cyanidation permitting process to the Idaho Department of Environmental Quality and disclosed that Liberty Gold is a member of the International Cyanide Management Institute and signatory to the International Cyanide Management Code.
  

CORPORATE HIGHLIGHTS

• On November 3, 2026, we announced the appointment of Craig Dudra to our Board of Directors, effective December 1, 2026.
• On October 5, 2026⁷, we announced the appointment of Curtis Cadwell as General Manager for Black Pine.
• On October 1, 2026⁸, we announced the receipt of the final staged payment of $2.6 million from the sale of the TV Tower project in Türkiye.
• On September 15, 2026, we announced our inclusion in the MVIS® Global Junior Gold Miners Index effective September 18, 2026. The Index is the underlying benchmark for the VanEck Junior Gold Miners ETF (“GDXJ”), which seeks to replicate, as closely as possible, the price and yield performance of the Index.

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¹ See technical report entitled “Technical Report and Feasibility Study for the Black Pine Project, Idaho, USA”, with an effective date of August 1, 2026, and dated September 18, 2026, on the Company’s profile on SEDAR+ at www.sedarplus.ca.
² See news releases dated September 8, 2026 and September 18, 2026.
³ See news release dated October 27, 2026
⁴ See news release dated October 22, 2026
⁵ See news release dated September 17, 2026
⁶ See news release dated August 5, 2026
⁷ See news release dated October 5, 2026
⁸ See news releases dated October 1, 2026 and October 7, 2024
⁹ These financial measures or ratios are non-IFRS financial measures or ratios. Certain 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 Discussion and Analysis for the period ended September 30, 2026, available on the Company’s website at libertygold.ca or on SEDAR+ at www.sedarplus.ca.

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 nine months ended September 30, 2026, as prepared in accordance with IFRS Accounting Standards – IAS 34: Interim Financial Statements.

A copy of the Interim 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 September 30,							Nine months ended September 30,
	2026					2025			2026		2025
Attributable to shareholders:
Income/(Loss) for the period from continuing operations		$(9.66		)	$(6.25		)	$27.35		$(13.21		)
Income/(Loss) and comprehensive loss for the period from continuing operations		$(9.41		)	$(6.54		)	$26.07		$(13.04		)
Basic income/(loss) per share from continuing operations		$(0.02		)	$(0.01		)	$0.05		$(0.03		)
Diluted income/(loss) per share from continuing operations		$(0.02		)	$(0.01		)	$0.05		$(0.03		)

	As at September 30,	As at December 31,
	2026		2025
Cash and cash equivalents	$28,575	$28,077
Working capital9	$35,261	$26,013
Total assets	$87,851	$44,091
Current liabilities	$6,269	$5,406
Non-current liabilities	$1,206	$1,152
Shareholders’ equity	$80,376	$37,534

ABOUT LIBERTY GOLD

Liberty Gold is a U.S.-focused gold company advancing Black Pine, its 100% owned oxide gold project in Idaho, located within the Great Basin, one of the world’s most productive and mining-friendly gold regions. Black Pine is a large-scale, past-producing, run-of-mine heap leachable gold deposit advancing through permitting toward a potential construction decision. The Company’s strategy is centered on advancing high-quality, long-life gold assets, with a clear focus on technical simplicity, strong environmental performance, project executability, collaborative permitting processes, and value creation. This reflects Liberty Gold’s commitment to the discipline of delivery. The Company is led by an experienced team with a track record of discovery, development, and delivering sustained 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
info@libertygold.ca

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; federal and state permitting timelines; future updates to the mineral resource, including potential resource growth and conversion of mineral resources to mineral reserves; 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; expectations regarding dewatering requirements; the results of mineral resource estimates or mineral reserve estimates; the Company’s anticipated expenditures; the results and conclusions of the Feasibility Study, including projected mine life, production, recoveries, total cash costs, capital costs, AISC, cash flow, NPV, IRR and payback periods; gold price sensitivities; anticipated employment and community benefits and Black Pine’s ability to generate long-term value for shareholders and other stakeholders; execution-readiness; and potential completion of a construction decision and development of the Project.

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, licenses and permits; obtaining timely renewals for existing licenses and permits; access to necessary financing; labour stability, stability of labour markets and market conditions in general; availability of drill rigs and other equipment; results or timing of any mineral resources, results or timing of any baseline studies, resource conversion, the estimation of mineral reserves and mineral resources, and of any metallurgical testing completed to date; there being no significant disruptions affecting the development and operation of the Project; successful resolution of disputes; anticipated costs and expenditures; and general marketing, political, business and economic conditions. 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, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, among others: 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; state and federal permitting processes, 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 risk, uncertainties and other factors discussed in the Annual Information Form of the Company dated March 25, 2026, in the section entitled "Risk Factors", available under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those described in forward-looking information, there may be other factors that cause performance, achievements, actions, events, results or conditions not to be as anticipated, estimated or intended. Forward-looking information and forward-looking statements contained herein are made as of the date of this press release and 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. There can be no assurance that such forward-looking statements or forward-looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information or forward-looking statements. 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 and Probable Reserves

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 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.