EDMONTON, ALBERTA--(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."

MOU:

Liberty Signs Important MOU With the First Nations

Liberty Mines Inc. (TSX-V: LBE) ("Liberty or the Corporation") is pleased to announce the ratification of a memorandum of understanding ("MOU") with the Mattagami, Matachewan and Wahgoshig First Nations. The MOU encompasses all of the exploration, development and mining activities on Liberty's mining claims and leases in the Shaw Dome Nickel Belt near Timmins, Ontario. It addresses the traditional rights of the First Nations and sets out the objectives and topics for negotiation of an impact development agreement ("IBA") between the parties to mitigate the potential impact of those rights from exploration, development and mining operations. It discusses business opportunities, employment and training, environmental matters, ongoing communications and many other items of concern to all parties. The MOU specifically states the First Nation's support of Liberty's applications for the permitting of its Shaw Dome mining projects subject to the environmental matters outlined in the document.

Good faith consultation must be conducted with the First Nations when crown land is given up for mining or forestry. "Liberty has established an excellent rapport with the First Nations by understanding and respecting their traditional rights," said Liberty's President, Gary Nash. "We look forward to working with the First Nations at all of our projects and completing the IBA in a timely efficient manner," he added.

The First Nations will be an integral part of a ceremony for the grand opening of the Redstone Mill to be held on September 19.