Liberty Gold Reports Q 2 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
News Release
Page 1 of 4
R
elease ID: 26
-
21
August
1
2
, 2026
Liberty Gold Reports
Q
2
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
3
0
, 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:
o
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
o
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:
o
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;
o
Exploration and Resource Growth: Drilling high
-
priority resource extension targets proximal to planned
mining areas, as well as selected deposit scale targets; and
o
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
2
See news release dated April 8, 2026
3
See news release dated May 19, 2026
4
See news release dated August 5, 2026
5
See news release dated
April 27
, 2026
News Release
Page 2 of 4
•
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:
o
$10 million in cash plus approximately 1.6 million Heliostar common shares valued at approximately $2.5
million, received on April 24, 2026;
o
$10 million in cash to be
paid
on April 24, 2027;
o
$10 million in cash to be
paid
on October 24, 2027;
o
$15 million in cash to be
paid
on the earlier of the achievement of certain infrastructure
-
related milestones
or April 24, 2031; and
o
$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:
o
Approximately $2
.7
million, via the receipt of 420,935 common shares of Blue Moon; and
o
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
7
See news release dated May 15, 2026
8
See news release dated May 21, 2024
9
See news release dated
April 27
, 2026
10
See news release dated March 23, 2026
11
See news release dated
April 2
, 2026
12
See news release dated March 18, 2026
News Release
Page 3 of 4
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
June
30
,
Six months ended
June
30
,
202
6
202
5
202
6
202
5
Attributable to shareholders:
Income/(
Loss
)
for the period from continuing operations
$43
,
03
2
$(
4,284
)
$37
,00
5
$(
6,963
)
Income/(
Loss
)
and comprehensive loss for the period
from continuing operations
$4
1,948
$(
3,85
4
)
$
35,485
$(
6,505
)
Basic income/(loss) per share from continuing operations
$0.08
$(0.01)
$0.07
$(0.02)
Diluted income/(loss) per share from continuing
operations
$0.07
$(0.01)
$0.06
$(0.02)
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
jur
isdictions, 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
13
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 year ended December 31, 2025, available
on the
Company’s website at
libertygold.ca
or on SEDAR+ at
www.sedarplus.ca
.
As at
June
3
0
,
As at December 31,
202
6
202
5
Cash
and cash equivalents
$36,543
$28,077
Working capital
13
$43,471
$26,013
Total assets
$94,565
$44,091
Current liabilities
$5,696
$5,406
Non
-
current liabilities
$1,316
$1,152
Shareholders’ equity
$87,553
$37,534
News Release
Page 4 of 4
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.
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.