Hi Traps. I had a great Canada Day. Watching the Ceremonial Guard, Snowbirds, artists and athletes, made me think of the public symbols of our Country. I am so proud to be a Canadian and I do love my Country for so many reasons. On Canada Day I just got to think about it for a little.

I liked your quote from 2004. At that time shareholders were really excited about McAra. In fact McWatters was put up for sale so the emphasis and energy could go towards it. I am not a geologists or miner so it takes effort for me to start figuring things out. The next press release dated 22 Oct, I found interesting too. "Approximately 18 metres north of drill holes EDS-1,2,3, cobalt mineralization was exposed under 3 metres of overburden, which allowed the collection of a bulk sample.

Mineralization consists of both massive veins and brecciated fragments of cobaltite in a quartz vein matrix along the contact of two mafic flows. The vein reached widths up to 0.3m with some cobaltite filling fractures 20cm on each side of the vein.

A total of 362 kgs of vein material was removed by blasting along an exposed length of 12 metres. "

and

"The average of these samples is 10.18% cobalt, 1.14% nickel and 10.0 g/t silver."

Traps, they were originally working on a scoping study, was it ever done? They must have most of the work done for it and I wonder if there are newer ways of removing the arsenic then there was in 2004.

The corporate strategy for specified in PR 03-05 dated 23 Feb 2005

Para 3 of page 2

"The McAra Lake Cobalt Property will be the focus of permitting, environmental work, claim leasing and possibly some additional drilling in 2005. Liberty is in advanced negotiations for a custom cobalt smelter agreement. Liberty is completing a scoping study, to be followed by feasibility work to provide for the start-up of an underground program of exploration and production in early 2006."

June 28, 2005

"The cobalt system has been defined by drilling over a strike length of 135m to 65m depth and is open along strike and at depth."

It will be interesting to see how the faults come into play traps.

In July 25, 2005 they talk of a MMI (mobile metal ion ) study. I wonder what results came out of that study? It says that MMI anomalies are sharply bounded and, in most cases, directly overlie and define the surface projection of buried primary mineralized zones.

Sept 26, 2005 the press release covers the increase of the Land Position for McAra. and it also talks of the Ray Townsip claims.

Jan27, 2006 the Press Release states that Lbe aubmitted an application to the ON govt for some of the McAra claims to be converted to a lease (This can take anywhere from 1 to 3 years).

We know from that press release that Hydrometallurgical and petrological studies of the cobalt ore were in progress then!

One option considered at that time was the use of a substantial bulk sample to be used as a cash infusion for the company.

Now 31 May 2006 hole E2 had previously been extended 25m and now was extended 65m further E with holes E19, 20 and 21.

"Borehole M06-22 hit a lower zone of 9.84m of 1.23% Co, 13m below the rich Co vein in EDS 04-07"

Holes 19 to 22 were indicated on 31 May PR.

PR 17-06 dated 31 Jul 2006 gives the results of holes 22 to 27. " Hole M06-24 was drilled 31m from an isolated value encountered in previous hole EDS-04-16 (5.73% Co over 0.5m). This hole confirmed a probable 31m extension of this isolated value."

"The cobalt structures appear to occur in two orientations: one trending east-northeast and the other sub-parallel to the direction of drilling. Drilling to date(31July 06) has focused on the north-northeast trending cobalt structures."

19 Mar 2007 Liberty Signs Off-Take Agreement for Cobalt Deposit with JJNICL (PR 19 Mar 07)

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I am sure I have missed many things on McAra - this is just a start for those who are interested. The drill core results are quite interesting and if Ray township can prove some good results then this property may down the road can be very interesting. Traps maybe you or someone else can add to what I have written.