Libero Copper Expands Potential Mocoa Footprint: Advancing New Near-deposit Targets

VANCOUVER, Jan. 27, 2025 - Libero Copper & Gold Corp. (TSXV: LBC) (OTCQB: LBCMF) (FRA: 29H) ("Libero Copper" or the "Company") is pleased to announce promising results from its follow-up exploration program at the Piedralisa and Estrella targets within the Mocoa porphyry system.

Highlights

• Encouraging surface sampling results across key targets: Follow-up exploration activities at Piedralisa and Estrella targets returned promising Cu-Mo-Zn-Pb rock sample results, with copper values up to 1,930.5ppm, Mo values up to 695.7ppm, Zn values up to 14,200ppm and Pb values up to 4,232.5ppm. These results highlight the potential for significant mineralization near the Mocoa porphyry Cu-Mo deposit.
• Strategic target advancement and 3d geophysical correlation: Exploration at Piedralisa and Estrella targets confirmed the presence of elevated metal concentrations in sericite-altered porphyry units, aligning with 3D radial symmetric isosurface and demagnetized zones. This reinforces the interpretation of porphyry-style systems and validates the integration of airborne geophysical surveys with fieldwork.
• Expansion potential and focused future efforts: A priority 2.5 x 2.0-kilometre area including eastern Estrella and northwestern Piedralisa was selected for continued exploration, driven by encouraging alteration, veining, and mineralization patterns.

"Recent drilling delivered over 1,000 metres of continuous copper-molybdenum mineralization from surface, highlighting Mocoa's exceptional scale. Now, follow-up work at Piedralisa and Estrella shows this system may extend well beyond the known footprint, pointing to multiple porphyry centers. With a drill program in 2025 that's 50% larger than all previous drilling combined, our focus is on expanding the main deposit and testing this broader district potential. We believe Mocoa stands out in today's copper market, and we're excited to keep demonstrating just how significant it could become" said Ian Harris, President and CEO.

Intensive follow-up exploration activities have been conducted at key targets including Piedralisa, Estrella and southeast of Neblina (figure 1). The field program included detail mapping of alteration, veining and mineralization across the soil grids completed on the property (refer to news release February 7, 2023) and along the main creeks on the zone. A total of eighty-five rock samples were systematically collected returning promising results detailed in table 1. Samples returned copper values up to 1,930.5ppm, Mo values up to 695.7ppm, Zn values up to 14,200ppm and Pb values up to 4,232.5ppm.

Piedralisa target

Piedralisa target is located 3km to the southeast of the known-resource of the Mocoa porphyry deposits, was a focal point for follow-up exploration, particularly in its northern sector where leach cap outcrops were extensively mapped (refer to news release February 7, 2023). Rock samples from exposed outcrops highlighted elevated concentrations of Cu-Mo-Zn-Pb within sericite-altered dacite and andesite units. These observations correlate with 3D radial symmetric isosurface from intrusive features and demagnetized zones identified in the early 2022 airborne geophysical survey (refer to news release May 3, 2022). Additionally, it has been identified outcrops of dacite-rhyolite porphyry with strong phyllic alteration and some remanent A-type veins as far as 2.5-kilometres east of Mocoa drilled area, highlighting the size and prolonged hydrothermal activity within the Mocoa porphyry system (figure 2 - R00631 and figure 3G).

Estrella target

Previously referred to as target 1 (refer to news release May 3, 2022), the Estrella target is situated approximately 1 km south of the Mocoa porphyry deposit. This area is characterized by a 3D radial symmetric isosurface intrusion, interpreted as a potential porphyry body with elevated Cu-Mo values in rock samples, and strong potassium alteration, as indicated by the radiometric survey. These features are further associated with a 300ppm copper anomaly in soil samples (refer to news release February 7, 2023). Follow-up exploration activities were focused on the eastern section of the target, where leach cap outcrops had been mapped during previous fieldwork (refer to news release February 7, 2023). Detailed rock sampling was conducted across an exposed window of argillized dacite, characterized by extensive quartz and pyrite veining indicative of a leach cap environment similar to the upper parts of the Mocoa porphyry (figure 3A to 3D). Rock sample assay results returned Cu values up to 1,091.1ppm and Mo values up to 158.86ppm (figure 2 and figure 3H and 3I).

Next step

The identification of a targeted 2.5 x 2.0-kilometer zone (figure 2), including the eastern Estrella and northwestern Piedralisa sectors, represents a pivotal step in Libero's exploration efforts. This area has been prioritized for detailed fieldwork, highlighting the company's focus on understanding and expanding the potential of the Mocoa porphyry system. Additionally, Libero geologists are actively exploring anomalies identified in the Neblina target, located north of the drilled Mocoa porphyry area. Their work involves systematically mapping of alteration, veining, and mineralization for rock sampling.

Fieldwork is a cornerstone of Libero's exploration strategy, providing the necessary groundwork to identify new drill targets and refine existing ones. This systematic approach is key for fully evaluating the scale and potential of the Mocoa system, supporting ongoing efforts to expand resources and enhance geological understanding.

Table 1. Assay results for rock samples⁽¹⁾. Coordinates are UTM. Zone 18N and WGS84 projection.

Qualified Person and Technical Notes

Edwin Naranjo Sierra, Exploration Manager of Libero Copper, is the designated Qualified Person within the meaning of National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and the Society of Economic Geologist.

Mineralized zones at Mocoa are bulk porphyry-style zones. Rock samples are inherently selective in nature. As such, these results may not be representative of the underlying geological values or the overall mineralization within the sampled area.

Libero Copper operates according to a rigorous Quality Assurance and Quality Control (QA/QC) protocol consistent with industry best practices. For surface samples, 2.5kg of material is taken on each outcrop using chip or channel techniques. Samples are taken by well-trained field helpers supervised by the geologist of the company. Core diameter is a mix of HQ and NQ depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged in maximum 2-metre intervals, stopping in geological boundaries. All samples were bagged, tagged and packaged for shipment by truck from Libero Copper's core logging facilities in Mocoa, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the company. Samples are processed in the Medellin facilities where they are analyzed for copper and molybdenum by 4-Acid digest Atomic Absorption (AA) analysis. The sample pulps are air freighted from Medellin to the ActLabs certified laboratory in Guadalajara, Mexico, where they are analyzed for a suite of 57 elements using 4-Acid digest and ICP-MS. In order to monitor the ongoing quality of assay data and the database, Libero Copper has implemented QA/QC protocols which include standard sampling methodologies, the insertion of certified copper and molybdenum standard materials, blanks, duplicates (field, preparation and analysis) randomly inserted into the sampling sequence. QA/QC program also include the ongoing monitoring of data entry, QA/QC reporting and data validation. No material QA/QC issues have been identified with respect to sample collection, security and assaying.

About the Mocoa Porphyry Copper-Molybdenum Deposit

The Mocoa deposit is located in the department of Putumayo, 10 kilometres from the town of Mocoa. Libero Copper's district scale holdings cover over 1,000 km2 through titles and applications, encompassing most of the Jurassic porphyry belt in southern Colombia. Mocoa was discovered in 1973 when the United Nations and the Colombian government conducted a regional stream sediment geochemical survey. Between 1978 and 1983, an exploration program was carried out that consisted of geological mapping, surface sampling, ground geophysics (IP, magnetics), 31 diamond drill holes totaling 18,321 metres and metallurgical test work B2Gold subsequently executed diamond drill programs in 2008 and 2012.

The Mocoa deposit appears to be open in both directions along strike and at depth. Current work on the property has identified additional porphyry targets including the possible expansion of known mineralization. The Mocoa deposit is situated in the Central Cordillera of Colombia, a 30-kilometre-wide tectonic belt underlain by volcano-sedimentary, sedimentary and intrusive rocks that range in age from Triassic-Jurassic to Quaternary and by remnants of Paleozoic metasediments and metamorphic rocks of Precambrian age. This belt hosts several other porphyry-copper deposits in Ecuador, such as Mirador, San Carlos, Panantza and Solaris' Warintza. Copper-molybdenum mineralization is associated with dacite porphyry intrusions of the Middle Jurassic age that are emplaced into andesitic and dacitic volcanics. The Mocoa porphyry system exhibits a classical zonal pattern of hydrothermal alteration and mineralization, with a deeper central core of potassic alteration overlain by sericitization and surrounded by propylitization. Mineralization consists of disseminated chalcopyrite, molybdenite and local bornite and chalcocite associated with multiphase veins, stockwork and hydrothermal breccias. The Mocoa deposit is roughly cylindrical, with a 600-metre diameter. High-grade copper-molybdenum mineralization continues to depths in excess of 1,000 metres.

¹ For further information refer to National Instrument 43-101 - Standards of Disclosure for Mineral Projects Technical Report, entitled "Technical Report on the Mocoa Copper-Molybdenum Project, Colombia", dated January 17, 2022, prepared by Michael Rowland Brepsant, FAusIMM, Robert Sim, P.Geo, and Bruce Davis, FAusIMM. with an effective date of November 01, 2021.

About Libero Copper

Libero Copper is led by a team with rare experience-having advanced projects from post-resource discovery to the path of construction, including some of the few large copper projects built in the last 20 years. This real-world expertise drives Libero Copper's focus on relationships, responsibility, trust, and a relentless commitment to sustainable progress.

At the core of Libero Copper's portfolio is the Mocoa copper-molybdenum porphyry deposit in Putumayo, Colombia-a cornerstone asset where the Company is actively drilling. In a market increasingly hungry for new copper supply, Libero is focused on systematically expanding and de-risking Mocoa's resource base.

Now, with the Fiore Group's bold company-building vision behind it, Libero Copper is uniquely positioned to fill a crucial gap in the copper industry-advancing large-scale projects toward construction. Through this approach, Libero Copper is committed to creating lasting value for all stakeholders while positioning itself at the forefront of meeting the growing global demand for copper-the metal driving progress in the modern economy.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, including statements regarding the actual rock sample results will lead to significant mineralization, anticipated drilling and expected results, the resulting other activities and achievements of the Company, including but are not limited to: the potential for the Mocoa Project resource estimate to expand in size, the belief that all necessary permits are currently in place for the initial phase of the Mocoa Project, and the timing and success for the advancement of the Mocoa Project, are to be considered forward looking. Although Libero Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

SOURCE Libero Copper & Gold Corporation