LIBERO COPPER CLOSES SECOND TRANCHE OF FINANCING

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

VANCOUVER, BC, Feb. 15, 2023 /CNW/ - Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) ("Libero Copper") announces it has closed the second tranche of the non-brokered private placement announced February 7, 2023 and increased February 10 and 13, 2023 (the "Offering") and issued 6,666,667 units, with each unit consisting of one common share and one common share purchase warrant (a "Warrant") at a price of $0.15 per unit for cumulative gross proceeds of approximately $2 million. Each Warrant entitled the holder thereof to acquire one additional common share at a price of $0.22 until February 15, 2025. The net proceeds will be used for exploration at the Mocoa and Esperanza porphyry copper projects and general working capital.

Finder's fees of 6% cash and 6% broker warrants were paid on a portion of the Offering in accordance with the policies of the TSX Venture Exchange.

This tranche of the Offering was made to purchasers resident in all provinces of Canada (except Quebec), the United States and in certain foreign jurisdictions, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). Pursuant to the limitations of the Listed Issuer Financing Exemption, the units offered under the Listed Issuer Financing Exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

Libero Copper intends to close the final tranche of the Offering of up to 3,200,000 units on or around February 17, 2023 with Anglo Asian Mining Plc.

About Libero Copper

Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes the Mocoa deposit in Putumayo, Colombia; Esperanza in San Juan, Argentina; and Big Red and Big Bulk in the Golden Triangle, BC, Canada. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.

Additional Information

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 press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and application state securities laws.

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: the completion of the Offering or any tranche thereof; the number of securities to be issued under the Offering and the gross proceeds received; the payment of any finders fees and the form thereof; the receipt of approval from the TSXV; the participation of Anglo Asian Mining Plc in any financing; and the use of gross proceeds from the Offering. 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, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. 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. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Libero Copper. The forward-looking information is stated as of the date of this news release and Libero Copper assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

SOURCE Libero Copper & Gold Corporation.

Ian Harris, Chief Executive Officer, [phone], [email protected]; Michelle Borromeo, VP Investor Relations, [phone], [email protected]