EXCLUSIVE

Liam Hemsworth Rockin' a Band on Ring Finger, But ...

Liam Hemsworth might've come off as a married man to the average passerby this weekend from the looks of the hardware on his hand ... but he's not.

Liam was hangin' with fiancee Miley Cyrus' mom, Tish, Sunday at the Cyrus estate in eastern Kentucky -- sans Miley -- where he was seen sporting what appeared to be a wedding band.

We did some digging -- turns out Liam and Miley have not tied the knot. People connected to both whom we know and trust say they're "100%" not hitched ... not yet, at least.

It's just another false alarm, which Miley's set off before herself.

The couple's been engaged for well over a year and a half ... apparently they're keeping it that way for now.

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