Experienced U.S. gold operator with large-scale open-pit operations, mine start-up and capital management expertise

VANCOUVER, British Columbia, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce the appointment of Curtis Cadwell as General Manager for its run-of mine (“ROM”), heap leach Black Pine Oxide Gold Project (“Black Pine” or the “Project”) in southeastern Idaho, effective October 12, 2026. The appointment further strengthens Liberty Gold's mine operating capability as the Company advances detailed engineering and permitting at Black Pine and fills a key role in the operating team required for successful design, construction and future production.

Mr. Cadwell brings three decades of mining industry experience, spanning mine operations, project ramp-up, life-of-mine planning, capital allocation, cost control and senior finance management, with extensive experience across major gold operations in the United States (“U.S.”). Mr. Cadwell spent more than 20 years with Barrick Gold Corporation in progressively senior operating and financial roles. As General Manager, Operations for Barrick Nevada, he was responsible for the Goldstrike and Cortez operations, encompassing open-pit and underground mining, processing, resource development, technical services, supply chain functions and a workforce of approximately 2,500.

Most recently, Mr. Cadwell served as Finance Manager, Nevada for Kinross Gold Corporation, supporting the Round Mountain and Bald Mountain open pit, ROM leach gold operations with responsibility for budgeting, life-of-mine planning, continuous improvement, purchasing, warehousing and cost optimization. Previously, he served as Operations and Finance Manager at McEwen Mining Inc.'s Gold Bar operation and as Mine Manager and Director of Operations at OceanaGold Corporation’s Haile Gold Mine, where he was responsible for the transition of the operation from startup into an operating site. Mr. Cadwell holds a BBA in Accounting and Finance from the University of New Mexico and is a Certified Public Accountant.

"Curtis brings an exceptional combination of large-scale U.S. gold operating experience and financial discipline into the growing Liberty Gold team,” said Jon Gilligan, President and CEO of Liberty Gold. ”He has managed complex mining operations, mine ramp-ups and life-of-mine planning and he understands the importance of delivering mine production safely with rigorous cost and capital control. As detailed engineering and permitting advance at Black Pine, Curtis is a key addition to the team we are building to take us through disciplined project development and fully prepared to execute a build safely and efficiently, subject to a construction decision and the necessary federal and state permits."

Commenting on joining Liberty Gold, Mr. Cadwell stated: “I am very excited to become part the Liberty Gold team at Black Pine. It is an exceptional U.S. gold project and the opportunity to take a key role in building a new mine in a strong mining district is incredibly appealing. Black Pine’s scale, anticipated mine life and production potential create an opportunity to establish an operation that can provide lasting value to surrounding communities and contribute meaningfully to Idaho’s development.”

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, Vice President, 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; the advancement of the Black Pine Project through feasibility and permitting; the completion of Centerra Gold Inc.’s subscription for common shares pursuant to its top-up right; future updates to mineral resources; 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 mineral property interests; future water rights acquisitions; the results of mineral resource estimates, mineral reserve estimates, preliminary feasibility studies or feasibility 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”, “goal” and similar expressions, or variations of such words and phrases, or statements 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 as of the date the statements are made, including, among others, assumptions regarding future prices of gold and other metals, currency exchange rates and interest rates, favourable operating conditions, political stability, timely receipt of governmental, regulatory and stock exchange approvals, completion of the issuance of common shares to Centerra Gold Inc. pursuant to its top-up right on the terms described herein, receipt of financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, results or timing of any mineral resources, mineral reserves, baseline studies, resource conversion, pre-feasibility studies or feasibility studies, 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, uncertainties and other factors that may cause actual results to differ materially from any future results expressed or implied by such forward-looking information, including risks related to the interpretation of results and/or 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, regulatory or stock exchange approvals, financing, or completing the issuance of common shares to Centerra Gold Inc. pursuant to its top-up right; timing of the completion of exploration; and those factors discussed in the Annual Information Form of the Company 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 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, or as otherwise required by law.

Except for statements of historical fact, information contained herein or incorporated by reference herein constitutes forward-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 Liberty Gold are expressly qualified by these cautionary statements.