Liberty Gold Corp · TSX:LGD
Liberty Gold — Investor Presentation (June 2026)
25 slides from Liberty Gold's investor presentation, June 2026
Slide 1: Disciplined Development of Great Basin Oxide Gold
Disciplined Development of Great Basin Oxide Gold TSX LGD OTCQX LGDTF June 2026
Slide 2: Cautionary Notes & Technical Disclosures
Cautionary Notes & Technical Disclosures All statements in this presentation, other than statements of historical fact, are "forward-looking information" and “forward-looking statementsˮ with respect to Liberty as actual results, and future events could differ materially from those anticipated in su
Slide 3: Company Highlights
Company Highlights Black Pine Gold Project A Large-Scale, Buildable Gold Asset South Eastern Idaho • 4.9 Moz indicated oxide gold resource1 Past-producing, open-pit, heap-leach • Low-cost, robust economic profile oxide gold project • Feasibility targeted Q4 2026 and 2024 Preliminary Feasibility Stu
Slide 4: Corporate Catalysts
Corporate Catalysts Black Pine, Idaho 2026 Feasibility and Project Advancement • Updated Mineral Resource Estimate completed • Ongoing drilling and metallurgical programs supporting Feasibility Study • Feasibility Study targeted Q4 2026 20262028 Permitting • FAST41 Covered Project designation
Slide 5: Black Pine Gold Project: Large-Scale Oxide Heap-Leach Project
Black Pine Gold Project Large-Scale Oxide Heap-Leach Project with Defined Path to Development Strong Economics & Simple, Low-Risk Jurisdiction & Permitting Development Profile Project Design Advantages Benefits from low capital Open-pit, run-of-mine Located in Idaho with strong intensity and operati
Slide 6: 2024 Preliminary Feasibility Study
Black Pine Gold Project 2024 Preliminary Feasibility Study Large-scale, low capital intensity, open-pit, run-of-mine heap-leach project1 Robust project economics across gold price scenarios 183 koz $1,208/oz Years 1 5 Years 1 5 17 yrs 2.2 Moz 135 koz $1,381/oz LOM Average LOM Average MINE LIFE L
Slide 7: 2024 PFS to 2026 Feasibility Resource Progression
Black Pine Gold Project 2024 PFS to 2026 Feasibility Resource Progression 2024 PFS RESERV E 2026 FEASIBILITY RESERV E 3.11 Moz Gold Probable Mineral Reserves @ $1,650/oz Au1 Work in Progress Q4 2026 2024 PFS RESOURCE 2026 FEASIBILITY RESOURCE 4.16 4.88 Indicated Mineral Resources @ $2,000/oz Au, Ind
Slide 8: 2026 Drill Program Supporting Feasibility
Black Pine Gold Project 2026 Drill Program Supporting Feasibility De-risking resource conversion, mine plan optimization, and cost certainty Feasibility Execution • 40,000 metres drill program underway • Infill drilling targeting conversion to Proven reserves • Mine sequencing optimization for prod
Slide 9: Plan of Operations – 2024 PFS Site Layout
Black Pine Gold Project Plan of Operations – 2024 PFS Site Layout L I B ER T YG O L D . CA T SX L G D O T CQ X L G D T F 9
Slide 10: Coordinated Permitting Framework
Black Pine Gold Project Coordinated Permitting Framework Federal | FAST41 Review • FAST41 Covered Project with U.S. Forest Service as lead agency • Permitting schedule publicly available on the Federal Permitting Dashboard • Notice of Intent NOI) published; EIS process underway State | Alignment
Slide 11: Defined Pathway to Feasibility, Permitting and Construction Readiness
Black Pine Gold Project Defined Pathway to Feasibility, Permitting and Construction Readiness Engineering & Feasibility Federal Permitting State Permitting Community & Stakeholder Engagement Note: Timeline is indicative and is subject to change Federal and state permitting, engineering, and feasibil
Slide 12: Government Support for Black Pine Advancement
Government Support for Black Pine Advancement Federal and Idaho support reinforces permitting visibility and project credibility FEDERAL SUPPORT IDAHO SUPPORT Emily Domenech “ This level of coordination Brad Little “ A more efficient process lowers and transparency will set a costs, supports good-pa
Slide 13: Capital Structure
Capital Structure Strong institutional backing with near-term funding visibility Capital Structure & Liquidity Key Shareholders Centerra Gold 9.6% Shares Outstanding 544.7M Van Eck Funds 8.4% Options 16.4M Franklin Advisors 7.9% Warrants 21.4M Management, Insiders & Advisors 3.8% Exercise price C$0
Slide 14: Our Leadership Team: Built To Build Mines
Our Leadership Team: Built To Build Mines Board of Directors Management Greg Etter Jon Gilligan Joanna Bailey Brad Ralph BOARD CHAIR PRESIDENT & CHIEF EXECUTIVE OFFICER CFO & CORPORATE SECRETARY SENIOR VP CORPORATE DEVELOPMENT Wendy Louie Lisa Wade Pete Shabestari Tyler Cole DIRECTOR DIRECTOR VP EXP
Slide 15: Black Pine: A Compelling Gold Development Investment Opportunity
Black Pine A Compelling Gold Development Investment Opportunity 1 Scale and Asset Quality 3 Defined Path to Development • 4.9 Moz indicated oxide gold resource1 • Feasibility Study targeted Q4 2026 • One of the largest undeveloped heap-leach • Structured permitting schedule under FAST41 gold depos
Slide 16: Appendix
= Va LIBERTY W SY SOLD
Slide 17: 2024 PFS Gold Production & Cost Profile
Black Pine Gold Project 2024 PFS Gold Production & Cost Profile Simple Operation with Strong early years production profile with a long mine life Low Unit Operating Costs1 • Targeted : 500 koz Au addition to Indicated Resources • Open pit, run-of-mine heap-leach operation with Delivered: 719 koz A
Slide 18: Mineral Resource Estimate Distribution & Sensitivities
Black Pine Gold Project Mineral Resource Estimate Distribution & Sensitivities Tonnes Average Grade Gold Ounces % Tonnes % Indicated Tonnes Average Grade Gold Ounces Waste:Ind+Inf Zone Classification Block cut-off grade Classification (Mt) (g/t Au) (000) (oz) (Ind & Inf) MRE Oz (Mt) (g/t Au) (koz) T
Slide 19: Mineral Resource Growth
Black Pine Gold Project Mineral Resource Growth Note: The information presented in this map and table is derived from publicly available sources, including Liberty Gold press releases and related public disclosure, as follows: July 13, 2021; February 7, 2023; October 10, 2024 and Preliminary Feasibi
Slide 20: 2026 Mineral Resource Estimate
Black Pine Gold Project 2026 Mineral Resource Estimate At a 0.1 g/t Au cut-off, Mineral Resources include1: • Indicated: 540.6 Mt at 0.30 g/t Au 4.88 Moz) • Inferred: 157.1 Mt at 0.21 g/t Au 1.05 Moz) Higher-grade subset 0.5 g/t Au cut-off) within the 0.1 g/t Au cut-off Resource pit contains: • I
Slide 21: Discovery Zone Mineral Resource Cross-Section
Black Pine Gold Project Discovery Zone Mineral Resource Cross-Section • 2,109,000 Indicated oxide gold ounces • Highest weighted avg gold grade • 43% of the Indicated Resource • High leverage to gold price drives expected rapid payback L I B ER T YG O L D . CA T SX L G D O T CQ X L G D T F 21
Slide 22: Rangefront Zone Mineral Resource Cross-Section
Black Pine Gold Project Rangefront Zone Mineral Resource Cross-Section • 2,016,000 Indicated oxide gold ounces • Highest average gold recoveries • 41% of the Indicated Resource • Close proximity to leach pad • Low expected waste:ore ratio L I B ER T YG O L D . CA T SX L G D O T CQ X L G D T F 22
Slide 23: Metallurgy
Black Pine Gold Project Metallurgy Advanced Metallurgical Model for the PFS Cross-section through Geo-metallurgical Domain Block Model • 6 phases of test work completed on bulk samples and large-diameter drill core composites 174 column tests completed) • Rapid gold extraction with 80% of leachabl
Slide 24: Endnotes
Endnotes Black Pine Mineral Reserve Estimate • The Mineral Reserve estimate was prepared by AGP Mining Consultants Inc., Toronto, Canada (“AGPˮ) and has an effective date of June 1, 2024. The Qualified Person responsible as defined under NI 43101 for the Mineral Reserve estimate is Todd Carstensen
Slide 25: Corporate Inquiries
Corporate Inquiries 604.632.4677 info@libertygold.ca TSXLGD | OTCQXLGDTF 610 815 West Hastings Street Vancouver, BC V6C 1B4 libertygold.ca