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Here’s to finding the sweet spot.

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February 2018

Kinsley Project

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FORWARD LOOKING STATEMENTS

All statements in this presentation, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securitieslaws, including statements with respect to those that address potential quantity and/or gradeof minerals, potential size and expansion of a mineralized zone, proposed timing ofexploration and development plans. 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", andsimilar expressions, or describes a "goal", or variation of such words and phrases or state thatcertain actions, events or results "may", "should", "could", "would", "might" or "will" betaken, occur or be achieved. Forward-looking information is not a guarantee of futureperformance and is based upon a number of estimates and assumptions of management atthe date the statements are made including, among others, receipt of final approval of theTSX, assumptions about future prices of gold, copper, silver and other metal prices, currencyexchange rates and interest rates, favourable operating conditions, political stability,obtaining governmental approvals and financing on time, obtaining renewals for existinglicences and permits and obtaining required licences and permits, labour stability, stability inmarket conditions, availability of equipment, accuracy of any mineral resources, the accuracyof any metallurgical testing completed to date, successful resolution of disputes andanticipated costs and expenditures. Many assumptions are based on factors and events thatare not within the control of Liberty Gold and there is no assurance they will prove to becorrect. Such forward-looking information involves known and unknown risks, which maycause the actual results to be materially different from any future results expressed or impliedby such forward-looking information, including, risks related to the interpretation of resultsand/or the reliance on technical information provided by our joint venture partner or otherthird parties as related to the Company’s mineral property interests; changes in projectparameters as plans continue to be refined; current economic conditions; future prices ofcommodities; possible variations in grade or recovery rates; the costs and timing of thedevelopment 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 activitiesgenerally; delays in permitting; possible claims against the Company or its joint venturepartners; labour disputes and other risks of the mining industry; delays in obtaininggovernmental approvals, financing or in the completion of exploration as well as those factorsdiscussed in the Annual Information Form of the Company for the year ended December 31,2016 dated March 17, 2016 in the section entitled "Risk Factors", under Liberty Gold’s SEDARprofile at www.sedar.com.

Although Liberty Gold has attempted to identify important factors that could cause actualactions, events or results to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events or results not to be asanticipated, estimated or intended. There can be no assurance that such information willprove to be accurate as actual results and future events could differ materially from thoseanticipated in such statements. Liberty Gold disclaims any intention or obligation to update orrevise any forward-looking information, whether as a result of new information, future eventsor otherwise unless required by law.

Moira Smith, Ph.D., P.Geo, Vice President, Exploration and Geoscience, Liberty Gold, andQualified Person under NI 43-101, has, to the extent possible, verified that the historic dataherein, including the results of drilling, sampling, and assaying by previous operators, isreliable.

Unless stated otherwise, information of a scientific or technical nature in this presentationregarding the Kinsley Mountain Property are summarized, derived or extracted from, thefollowing technical report:

• “Updated Technical Report and Estimated Mineral Resources for the Kinsley Project, Elkoand White Pine Counties, Nevada, U.S.A.” effective October 15, 2015 and dated December16, 2015 prepared by Michael Gustin, CPG, Moira Smith, Ph.D., P.Geo. And Gary L.Simmons, MMSA QP.

The technical report has been filed under the Company’s issuer profile on SEDARat www.sedar.com.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

Mineral resources that are not mineral reserves do not have demonstrated economic viability.Mineral resource estimates do not account for mineability, selectivity, mining loss anddilution. These mineral resource estimates include inferred mineral resources that arenormally considered too speculative geologically to have economic considerations applied tothem that would enable them to be categorized as mineral reserves. It is reasonably expectedthat the majority of inferred mineral resources could be upgraded to indicated mineralresources with continued exploration, however, there is no certainty that these inferredmineral resources will be converted into mineral reserves once economic considerations areapplied.The mineral resource estimates referenced in this press release use the terms“Indicated Mineral Resources” and “Inferred Mineral Resources”. While these terms aredefined in and required by Canadian regulations (under NI 43-101), these terms are notrecognized by the U.S. Securities and Exchange Commission (“SEC”). "Inferred MineralResources" have a great amount of uncertainty as to their existence, and great uncertainty asto their economic and legal feasibility. The SEC normally only permits issuers to reportmineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-placetonnage and grade without reference to unit measures. U.S. investors are cautioned not toassume that any part or all of mineral deposits in these categories will ever be converted intoreserves. Liberty Gold is not an SEC registered company.

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HIGH-GRADE GOLD PROJECT LOCATED IN NEVADA

• Located in the underexplored Eastern Great Basin:

⁻ Liberty Gold’s strategy is to explore off-trend in the Eastern Great Basin for Carlin-style deposits

⁻ Focused on high quality assets that have potential to become mines in average markets

• Carlin-style gold system located south of the Long Canyon trend, approximately 90km from the Long Canyon deposit

‐ 3.4M oz grading 2.2 g/t gold in resources & reserves

‐ Fronteer sold to Newmont for US$2.3 billion in 2011

• Liberty Gold is operator and holds a 79% interest

‐ Nevada Sunrise holds a 21% participating interest

• 8 high-conviction drill target areas defined in the Secret Canyon Shale

- Four hole drill program completed in 2017 on one target – extended zone of mineralization

Kinsley

DrumAntelope

Griffon

Anchor

Viper

Sandy Easter

Brik

StatelineBaxter Springs

Goldstrike

Mineral Gulch

Liberty Gold Projects

NSR/Metal Stream

Existing Mine

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PAST PRODUCER WITH UPSIDE POTENTIAL

• Past producer with historical gold production of ~138,000 ounces at 1.4 g/t (1995 – 1999)‐ Open pit, heap leach mining from six small pits‐ Historical oxide recoveries of ~78%

• Maiden gold resource estimate established in 2015 (1)

‐ Indicated 405,000 ounces grading 2.27 g/t gold‐ Inferred 122,000 ounces grading 1.13 g/t gold‐ Resource expansion potential high with over 80% of the

property untested by drilling

• Western Flank high grade discovery in late 2014‐ Indicated resource 284,000 grading 6.04 g/t (1) gold

(included in estimate above)

• Highly unlikely that the Western Flank Zone is the only high grade zone

• Initial testing indicates strong metallurgical recoveries‐ Testing to date suggests production of high-grade

flotation concentrate feasible‐ Secret Canyon: 89 – 95% recovery, 98.6 – 312 g/t gold

concentrate grade (2)

‐ Dunderberg: ~83% recovery, 42.0 – 52.3 g/t gold concentrate grade (2)

Historic main pit at Kinsley

View of Kinsley from Google Earth

(1) Further information on Kinsley is available in the technical report entitled "Updated Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A.", effective March 1, 2015 and dated March 19, 2015, prepared by Michael M. Gustin, Ph.D., CPG, Moira Smith, Ph.D., P.Geo. and Gary L. Simmons, MMSA under Liberty Gold's Issuer Profile on SEDAR (www.sedar.com).

(2) See press release dated January 19 2015 for further details

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DISTRICT SCALE POTENTIAL

• +12km trend of Carlin-style alteration & favourable host rocks

• Abundant jasperoid alteration with highly anomalous pathfinder elements

• Significant potential for resource expansion‐ +80% of property untested by drilling‐ Widespread alteration, prospective geology and gold

at surface, Secret Canyon shale not targeted

• New high-conviction drill targets defined to the south of the historic mine; currently drilling hole #3

• Primary target is high-grade sulphide mineralization similar to Western Flank zone

• Property accessible via state highway and Drill accessible +9 months of the year

• Water rights secured – 80 acre Plan of Operations Historic Kinsley Mine ~138,000ozs @ 1.4 g/t Au

Liberty Gold RockChip Samples

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GOLD IN MULTIPLE STATIGRAPHIC HORIZONS

• Gold mineralization controlled by NW-striking wrench faults and NE-striking faults and folds

• Gold identified in multiple stratigraphic horizons

• Three new discoveries by Liberty Gold to date

500 metres

Western Flank Trend

Kinsley

Mine Trend

Transverse Zone Trend

Racetrack Trend

Western Flank Zone

Right Spot

New Target

Secret Spot

Past

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MAIDEN RESOURCE ESTIMATE IN 2015

Classification Zone Tonnes Grade (g/t Au) Contained Gold (ozs)

Indicated

Secret Canyon 1,461,000 6.04 284,000

Dunderberg 520,000 2.67 45,000

Oxide 3,548,000 0.66 76,000

Total Indicated 5,529,000 2.27 405,000

Inferred

Secret Canyon 508,000 2.41 39,000

Dunderberg 470,000 2.44 37,000

Oxide 2,384,000 0.60 46,000

Total Inferred 3,362,000 1.13 122,000

Note: Further information on Kinsley is available in the technical report entitled "Updated Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A.", effective March 1, 2015 and dated March 19, 2015, prepared by Michael M. Gustin, Ph.D., CPG, Moira Smith, Ph.D., P.Geo. and Gary L. Simmons, MMSA under Liberty Gold's Issuer Profile on SEDAR (www.sedar.com).

Dunderberg

Secret Canyon Sulphide

OxideDunderberg

Oxide

750m looking northeast

Mixed SulfideOxide

2

1

0.5

1

0.5

0.2

5

2

1

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2017 DRILL PROGRAM

• 1 of 8 high-conviction drill target areas (the Western Flank East Extension) was tested with 4 drill holes:⁻ From the Secret Canyon Shale Zone (lower host):

• 5.30 g/t Au over 29.0 m including 7.84 g/t Au over 16.8 m in PK221• 3.68 g/t Au over 3.0 m in PK224

⁻ From the Dunderberg Shale Zone (upper host):• 12.4 g/t Au over 4.6 m including 35.1 g/t Au over 1.5 m in PK221• 6.84 g/t Au over 7.6 m including 12.8 g/t Au over 3.0 m in PK224

• Follow-up drilling for this area, as well as for the other target areas, is being planned

Corporate Inquiries604.632.4677

info@libertygold.ca

LGD: TSXLGDTF: US

1900 – 1055 West Hastings StreetVancouver, BC V6E 2E9

www.Libertygold.ca