Liberty Gold Announces Closing of the Sale of Goldstrike and Corporate Update VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Goldˮ or the “Companyˮ) is pleased to announce the closing (the “Closingˮ) of the previously announced sale of the Goldstrike Project
News Release
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Release ID: 26-13 April 27, 2026
Liberty Gold Announces Closing of the Sale of Goldstrike and
Corporate Update
VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Goldˮ or the “Companyˮ) is
pleased to announce the closing (the “Closingˮ) of the previously announced sale of the Goldstrike Project
located in southern Utah (“Goldstrikeˮ) to Heliostar Metals Ltd. (“Heliostarˮ).
Total consideration to be received under the Transaction is US$72.5 million (the “Transactionˮ) with US$10
million in cash and approximately 1.6 million common shares of Heliostar (valued at approximately US$2.5
million) received on Closing. Future milestone-based payments total an additional US$60 million, including
US$10 million in cash to be received 12 months and 18 months from Closing, and the remaining US$40
million to be received on the earlier of completion of certain project-based milestones or five years from
Closing (see press release dated March 23, 2026).
“Closing the sale of Goldstrike marks an important st ep in executing our strategy to monetize non-core
assets and to direct capital and management focus to our flagship Black Pine Oxide Gold Project,ˮ said Jon
Gilligan, President and CEO of Liberty Gold. “This transaction strengthens our balance sheet at an important
stage in the advancement of Black Pine and supports our disciplined focus on permitting, feasibility, and
selected long-lead development planning.ˮ
In connection with the Transaction, all Heliostar shares received by the Company as consideration will be
subject to a statutory hold period under applicable Canadian securities laws expiring four months plus one
day from Closing.
Completion of the Transaction aligns with Liberty Goldʼs stated objective of rationalizing its asset portfolio
and unlocking value from non -core holdings, while preserving exposure to future upside where
appropriate. Proceeds and value received from the Transaction are expected to support the continued
advancement of the Black Pine Project (“Black Pineˮ), including ongoing permitting, feasibility study work,
and selected long-lead development initiatives.
Black Pine is one of the largest undeveloped oxide gold projects in the Great Basin and benefits from a
substantial mineral endowment, existing infrastructure, and a supportive mining jurisdiction.
Corporate Update
Liberty Gold also announces that Centerra Gold Inc. elected to exercise its “top-up rightˮ to maintain its
9.9% equity interest in the Company, as provided under the Investor Rights Agreement (the “IRAˮ) dated
September 25, 2025 (see press release dated September 30, 2025). In connection with this election,
Liberty Gold has issued 2,033,992 common shares at a price of C$1. 17 per share in accordance with the
IRA, for total proceeds of approximately C$2.4 million.
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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 worldʼs most productive and mining-friendly gold regions.
Black Pine is a large-scale, past-producing, run-of-mine heap leachable gold deposit progressing through
feasibility and permitting toward a modern open-pit mining operation. The Companyʼs strategy is centered
on advancing high- quality, long -life gold assets, with a clear focus on technical simplicit y, strong
environmental performance, project executability, collaborative permitting processes, and value creation.
This reflects Liberty Goldʼs 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, Vice President, Investor Relations and Corporate Communications
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This news release contains “forward-looking informationˮ and “forward-looking statementsˮ 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 Goldʼs mineral properties; federal and state permitting timelines, future updates to the mineral resource, 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 Goldʼs exploration property interests; future water rights acquisitions; the results of mineral resource estimates or mineral reserve
estimates and preliminary feasibility studies; and the Companyʼs 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, results or timing of any baseline studies, 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 Companyʼs 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 factors discussed in the Annual Information Form of the Company dated March
25, 2026, in the section entitled "Risk Factors", under Liberty Goldʼs 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 , o r a s
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 forward-looking statements and forward-looking
information attributable to us is expressly qualified by these cautionary statements.