/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/

VANCOUVER, BC, March 11, 2024 /CNW/ - Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) ("Libero Copper" or the "Company") announces that, further to its press release dated February 23, 2024, it has closed a non-brokered private placement (the "Offering") for aggregate gross proceeds of $2,860,000.

Libero Copper issued 11,000,000 units (the "Units") at a price of $0.26 per Unit, with each Unit consisting of one Common Share, and one full common share purchase warrant (a "Warrant") with each Warrant entitling the holder to acquire an additional Common Share at an exercise price of $0.50 per Warrant until March 11, 2027. Common Shares issued in the Offering as well as any Common Shares issuable from the exercise of Warrants which were issued in the Offering, are subject to a four month hold period expiring July 12, 2024.

"We are thrilled to welcome Mr. Frank Giustra as a strategic investor in Libero Copper. Mr. Giustra's esteemed reputation and successful track record as a mining entrepreneur precede him," stated Ian Harris, President & CEO of Libero Copper. "His profound understanding of industry dynamics and the imperative of meeting the growing demand for copper in the transition to a clean energy future attest to the immense potential of our company. His support will be invaluable in unlocking the full potential of the Mocoa copper-molybdenum porphyry deposit."

The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

Certain insiders of the Company participated in the Private Placement and acquired an aggregate of 1,240,000 Units. The purchase constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuances are exempt from the formal valuation and minority shareholder approval requirements of MI 61- 101 as they are distributions of securities for cash and the fair market value of the Units issued to, and the consideration paid by, the insiders did not exceed 25% of the Company's market capitalization. No new insiders were created, nor any change of control occurred, as a result of the Offering.

The Company has also retained Fiore Management & Advisory Corp. to provide financial, regulatory and corporate administration services.