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Very good afternoon, ladies and gentlemen. My name is Jon Gilligan. I'm the President and Chief Operating Officer at Liberty Gold. Delighted to be here. Thank you for attending this presentation and thank you to the folks online and our thanks to the conference organizers. This really is a premier event in the calendar and the interaction and the setting are just fantastic. There's no better place to spend four days talking mining 24/7.

I will be making forward-looking statements. So these are the cautionary notes which are available afterward for review.

Liberty Gold is the third incarnation of the fusion of a deeply experienced discovery, exploration, and discovery team and a mine finance group. They have a long history of metal discovery, particularly in the Great Basin and Liberty was formed in 2015 and our main focus is our flagship asset is the Black Pine oxide system in southern Idaho.

We have just over 3.3 million ounces of indicated declared in February and we are just about to complete a pre-feasibility study which will be the first economics put in front of the public market for this asset.

It is technically simple. It's environmentally straightforward. It will have a low initial CAPEX. It's a run-of-mine heap leach and we have a very modest environmental footprint which makes it imminently permitable.

On the capital side, we have US$13 million in the bank as at the last declaration and we are in the process of closing our sale of the TV Tower asset, which is our Turkish asset. We expect that to bring in US$3.7 million this year on close. Next year, on the annual anniversary, we would have another US$2.2 million, and then on the second year at the anniversary US$2.7 million. So that cash coming into treasury really underpins our corporate costs and allows us to be efficient in terms of monies that we raise going forward.

Forty-three percent institutional holding. They are, we are very fortunate to have companies like Van Eck, Franklin, RCF, and Merk in our registry. They've been there for a long time. The latest addition was Wheaton Precious Metals. Last year, we sold them a half-point royalty in Black Pine and acquired a 50% buyback right at the same time and they came into the stock with some with some equity and we're delighted to have them on our registry.

The latest addition to the team is Matt Zietlow on the right-hand side, he is a permitting expert who has been working in the Great Basin for the last 15 years permitting oxide gold heap leach projects. He was brought on to the team in June to really ride shotgun on the approval process, the NEPA process for this Black Pine asset. and I'll talk a little bit more about that process in a few moments.

Where are we Black Pine, as you can see right on the Idaho-Utah border. Our other asset Goldstrike is on the right on the Utah border to Nevada, near Las Vegas. That's an asset that I'll talk very briefly about that somewhat on the middle burner, but we've had an interesting antimony find there and that's sort of giving us a little more interest.

Key catalysts: we came out, as I said with a 3.2 million ounce indicated resource and that resource is the base input to the pre-feasibility study. We're divesting TV Tower, the pre-feasibility study is coming out shortly. That pre-feasibility study will allow us to write and submit the mine plan of operations for Black Pine, which is the start of that formal NEPA permitting process. We have drills in the field right now. We expanded the area of operations of exploration operations at Black Pine in the middle of the year and we've created ourselves a very large area surrounding the core of the deposit which is giving us some exploration opportunities and pointing the way to resource growth going forward.

So some further information about Black Pine, we're bringing this asset back into production. It's a previously producing mine, mined by Pegasus in the 1990s. There is an old heap on site which is part of the legacy environmental situation operated by the USFS. You could see the green line going from top left, top right to bottom, left to the left of that line. It says USFS. That's the Forest. United States Forest Service ground and to the right of that, the BLM. So we have, the joy of having two federal agencies involved in our permitting process. The forest being the lead and the BLM being a cooperating agency. The heap as you can see is on the BLM. Most of the deposit is on the forest service.

We like Idaho. Idaho is an easy place to do business. It's a mining state. The interactions we have both at a local level and at the state level have been extremely positive. We have through the course of the last seven years, done four EAs (Environmental Assessments) on this project in association with four amendments to our plans of operations. So we have a very good handle on the environment, on environmental legacy issues, and on all sorts of issues around cultural and around 'bugs and bunnies' that we like to call them. The threatened and endangered species of which we have none, which is very nice.

We have diligently pursued, acquiring water rights for this project ahead of an economic study. So we now have 100% of the water that we need and they are coming out of wells that are in the subbasin just to the right of this image. These are wells that are currently in use being used for agriculture and we repurpose those for mining when we're ready and then we return them to agriculture, once the mining is finished. The key feature of that being that there is no net draw to the basin and therefore, there's no negative impact to water supply for the surrounding agricultural usage. That's very, very important in this very dry arid area.

There is a power supply to the mine gate that is existing, 25 KV line and we can draw the 10 MW off that line any time we want. So we have water in place, and we have power on site.

We have a previously disturbed sight. So that's very positive from not creating an impact to a pristine view shed. From the point of view of, of water, there are no streams, there's no surface water in this area. It is the dry version of Nevada, not the flowing streams and salmon trout rivers that one might perhaps associate with Idaho. So we're very lucky in that respect, an extremely benign environmental position.

This is GA of the of the site. You can see the large run of mine heap leach facility,  center right. We have a capacity there for 320 million tonnes. Directly to the right of that, you can see a small pond. That's the event pond. We have a design and directly below that is the ADR plant, the processing plant for carbon and carbon elution in the gold room. We have a design that has no surface cyanide solution in ponds, everything is in tankage, the preg and the barren solution. And we're quite quite pleased with that design. It's very neat. It's very elegant. Directly to the south of that, we have a truck shop, we have a mine administration building and we have a front gate and that's about it. This is a very simple, very vanilla, very straightforward construction.

We've completed everything on the left-hand side that you would typically expect at pre-feasibility and we're just finishing up a little bit of tweaking on the mine sequence to see if we can front-end load grade a little better than some of the early mine plans. Obviously, the financial modeling will get finished up. We are largely complete on our technical report which we're pretty pleased about. So we would expect to have that out reasonably soon after releasing the details of the pre-feasibility study. As you can see, it's multi-pit, we have two large rock storage facilities, one in the north and one in the south. And then we have satellite pits that supplement the two large pits Range Front and Discovery.

I mentioned a timeline for permitting. This is the NEPA permitting slide. For those who are familiar with that process, we started a year ago on the left-hand side of this graph with a pre-plan of operations. That's analogous to a concept study that we presented to all of the agencies, the US Forest Service, the BLM, and the state agencies. And we've been engaged with them for the past year working diligently on not only this time frame that you see but also setting up internal disciplinary teams for the agencies to assess their particular piece of the future EIS.

So we've front-end loaded this tremendously, the pre-feasibility comes out Q3 that allows us to write the mine plan of operations that gets submitted Q4 and that starts the formal NEPA process. We are anticipating a three-year period from that Q4 submission to the draft notice, decision notice on the far right-hand side. Thus, we would expect a decision in Q4 2027 and that would allow us to commence construction in Q1 2028. We have a nine-month construction period. So we're expecting today, we're anticipating metal in late 2028.

The parallel line to that permitting piece is sort of in the center there, is the technical works, pre-feasibility, finishes Q3. We then go into a month of sorry, a year of feasibility fieldwork. That's some resource tidy-up, some inferred to indicated upgrade. Some geotechnical work on the heap base and stability and some hydrologic work in the field to finish our model of the basin to support the EIS. That leads into feasibility study engineering Q3 2026. We're anticipating a year because we need to do some detailed engineering to produce some construction-ready plans to support the state permitting process. In late 2026 we would be looking at ordering long lead items that would be largely electrical and possibly the mining equipment. Late 2027 decision. And then as I mentioned, previous construction.

This is a schedule we've been working on for nearly a year now, pressure testing it with the agencies and we're pretty comfortable that it holds up under most scenarios and we will formalize and finalize this schedule once we submit that draft mine plan of operations. So by early next year, this will be sort of locked and loaded as it were.

In parallel with the engineering and the permitting piece, we also have a fantastic opportunity for increased resource growth on this tremendous huge gold system.

The pink color in the center there, those are soil anomalies in parts per billion: 50 PPB in the dark pink, and 25 PPB in the light pink.  You can see the gold lights up the soils above the carbonate horizon. In those sections, the green layer, that central green layer is the 400 m thick carbonate unit that hosts this Carlin-style mineralization.

Above that, you can see a yellow unit that's a cover sandstone sequence with a thrust contact to the carbonates. Then below the green horizon, there is a thrust contact to a black shale sequence. All of these packages of rocks have been thrust into this area. The water table sits at the contact between that lower plate, the brown rock and the green rocks. So we have a dry pit sequence. We have no water in the carbonates. They drain very nicely. So that means no pit lakes, no pit depressurization, no pit dewatering, which is a tremendous outcome we think for us. This is very helpful given that the entire sequence is oxidized. So we have no sulfides in the sequence, therefore, no acid mine drainage. So quite a beneficial situation.

The blue target areas denoted in this image are the areas where we are now actively drilling. Target, Section 36, on the right-hand side, we've drilled and condemned that area to allow us to build a heap. RangeFront South, we've done first pass drilling. The MEX target is to the north. We have drills turning there and we're now turning our attention to the southwest, the Burnt Basin target. We've got very high hopes for that target. If you look at the bottom section on the left, you can see there's a surface veneer of the yellow sandstones and we believe the pink that you can see in that area, those are gold anomalies bleeding up from an underlying carbonate unit, which we think is going to be mineralized. We have high hopes for a half-million to a million-ounce discovery in that area and we should have some indication of that going forward

Quick turn to Goldstrike. Goldstrike in Southsestern Utah. It is a 1 to 1.5 million-ounce gold system. Again, it's a Carlin-type system but associated with an unconformity. We've done a lot of drilling here. We have a resource model. We came out with a PEA in 2018, that's a little old now and probably with the change in gold price needs a refresh. We have completed or we're completing in-house a new resource model. We've put further technical work on hold while we are negotiating a water supply agreement with the local district.

This is a very, very dry part of the US. Water is at a premium. Gold is easy to find water is a lot harder. So we are organizing and an arranging agreement with the district that will let us next year take our hydrologic study which indicates there is new water present and we will put that into effect such that by late next year, we have a line of sight to water supply for this, for this asset and that will de risk it to the point where we can make a decision, how we move forward.

The antimony story comes from you know, a change in perspective with the run-up in the antimony price recently. With the Chinese restricting antimony supply, we have known that we had antimony on the flanks of this system. But we really focused on that core value. The core gold system which you can see in the top right-hand corner is the red coloring in the middle of the red land package. Out to the east, you can see in the inset the Lejaiv Mine is a known antimony mine. We went back into the field and did some further mapping and we found the red unit which is something like two kilometers of a jasperiod breccia, which if you look at those pictures has massive antimony oxide in it. That antimony oxide is a mineral called stibiconite which is after massive stibnite. So there's very little work done here. We've taken some field samples, and we've got the footprint and the land position of the jasperoid breccia to have the potential, at least for a very interesting antimony deposit. I think this is a question of 'watch-this-space' and see how things evolve.

So in summary, catalysts going forward to the end of this year and going into next: pre-feasibility study out in the public markets very shortly. That will be the first statement of what this asset can do that allows us to start the NEPA permitting process towards the end of the year. We should clean up and then close the TV Tower sale which will put a bit more money in treasury.

We've got this whole optimize Goldstrike. We've got this upside opportunity with antimony and I think that allows us to take perhaps a strategic perspective on that asset. And of course, we've got drills in the field which we think will feed some news flow over the next 3 to 4 months as we finish that first pass exploration in that new area, the doughnut area surrounding the main core. So I think it's an exciting time for Liberty. We're really starting to put Goldstrike on the map and we look forward to reporting back to the market with news flow as it arrives over the next 4 to 6 months.

Thank you very much.

Thanks a lot, Jon, that was very eloquent and very, very well timed as well.