"EDMONTON, ALBERTA--(Marketwire - April 15, 2008) - Liberty Mines Inc. ("Liberty or the Corporation") (TSX:LBE) is pleased to announce the signing of an Impact and Benefits Agreement ("IBA") with the Mattagami, Matachewan and Wahagoshig First Nations ("MMW"). The IBA encompasses all of the Corporations mining properties in the Shaw Dome Nickel Belt ("Properties") near Timmins Ontario (which includes the Redstone and McWatters Mines and the advanced Hart nickel project), and is in effect for the life of any mining project developed on the Properties.

The IBA includes provisions for job training, employment, scholarships, business relationships and financial participation in community development projects. It also streamlines the exploration of the Properties and the permitting of economic deposits through direct consultation and input from the MMW.

"We have worked diligently to establish a good working relationship with the First Nations, to understand their culture and traditional rights and to arrive at a fair accommodation from the impact against their traditional rights from the giving up of crown land for mining" said Gary Nash, Liberty's President and CEO. "In return, the MMW provide potential business services to Liberty, employees and support for our many projects as we continue to expand in the Shaw Dome area", he added.

"This IBA represents a first for mining and First Nations in Ontario that is not located in the far north or a remote area. I want to commend Gary Nash and the Liberty board of directors for taking the industry lead in recognition of First Nations Treaty and Aboriginal rights in this area. I would also like to commend the First Nation leadership for their vision and patience in the negotiation of this agreement" said Shawn Batise, Executive Director of the Wabun Tribal Council, and a member of the negotiating team. "This IBA will not only provide certainty for Liberty Mines and its investors, but benefits for the MMW First Nation members for years to come."

About Liberty Mines Inc.

Liberty Mines Inc. is a producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada.