Liberty Gold (LGD) Q2 2025 earnings summary

Executive summary

• Appointed Lauren Roberts to the Board, bringing 35+ years of mining leadership experience, effective September 1, 2025.

• Strengthened technical and project development team with four senior hires to advance Black Pine.

• Jon Gilligan named President & CEO and Board member; Greg Etter appointed Chairman.

• Announced intention to spin out Goldstrike and Antimony Ridge into Specialty American Metals Inc.

Financial highlights

• Q2 2025 loss from continuing operations: $4.3M, up from $3.5M in Q2 2024.

• Six-month loss from continuing operations: $7.0M, compared to $6.5M in 2024.

• Cash and short-term investments as of June 30, 2025: $17.7M, up from $17.0M at year-end 2024.

• Shareholders’ equity increased to $30.7M from $21.2M at December 31, 2024.

Outlook and guidance

• Advancing Black Pine feasibility study and permitting, with a 40,000m drill program underway to support engineering studies.

• Feasibility-level engineering studies for Black Pine planned to begin in Q4 2025.