TSX: LBE For Immediate Release

Press Release 24-08 August 13, 2008

Liberty Reports Second Quarter 2008 Financial Results

EDMONTON, Alberta. Liberty Mines Inc. (“Liberty or the Company”) reports continued strength in the production rate at the Redstone mine for the three months ended June 30, 2008. The Company produced 20,800 (229 per day) mined tonnes of ore in the second quarter of 2008, up 12 % over the previous quarter and continued to exceed the Company’s 2008 production targets at the Redstone mine of 200 tonnes per day. The increase in production resulted in a 7.4% increase in the accountable pounds of nickel sold during the three months ended June 30, 2008 to 613,562 accountable pounds.

The increased production and continued diligence in monitoring costs allowed the Company to decrease the cost of producing a pound of nickel for the three and six month periods ended June 30, 2008 to US$5.91 and US$6.42 per pound which includes mining, milling, smelting, refining, price participation and marketing costs but excludes mine depletion and operating asset amortization charges. The Company anticipates the cost to produce a pound of nickel to remain in the US$6.00 to US$7.25 range for the remainder of fiscal 2008 as the McWatters mine will not be declared to be in commercial production until late 2008. With the combined commercial production of the Redstone and McWatters mines at 1,400 to 1,500 tonnes per day at a much lower cost per tonne, the Company will be able to produce a pound of nickel at a target cost of US$3.50 per pound.