Liberty Increases Production by 69% and Appoints VP Exploration

EDMONTON, Alberta, Oct 01, 2010 (BUSINESS WIRE) -- Liberty Mines Inc. ("Liberty or the Company") is pleased to announce that the Redstone nickel concentrator ("Mill") processed 95,587 tonnes during the third quarter of 2010 ("Q3"); an increase of 69% over the 56,520 tonnes processed during the second quarter of 2010. Full production details will be released later this month after all costs related to Q3 have been processed.

Liberty would also like to announce that Mr. Peter Caldbick P.Geo joins the Company today as Vice President Exploration. Mr. Caldbick has been active in exploration and mining for the past 27 years throughout Northern Ontario and Quebec, Newfoundland and the Northwest Territories in the positions of exploration geologist, mine geologist, and consultant. He was directly responsible for building and managing the exploration teams that led to the discovery of Golden Chalice Resources' Langmuir nickel discovery adjacent to one of Liberty's mining claims in the Shaw Dome nickel belt. His exploration experience and insight into the formation of nickel deposits will be invaluable to the continued development of Liberty's resources.

Dr. Gary Nash, Liberty's President & CEO, commented: "We consider the Shaw Dome nickel belt under explored with significant potential for additional nickel discoveries. It may be the only region in the Abitibi greenstone belt that has nickel deposits associated with komatiitic extrusions and intrusions. With our fine team of geologists, we have the ability to discover new nickel deposits and increase our mine reserves from new and existing ore bodies. This is most important now that we have quickly increased our mine and mill production; with a further significant increase expected over the next quarter."

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. It owns and operates the Redstone nickel concentrator near Timmins Ontario.

CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, without limitation, statements regarding future plans and objectives of Liberty, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Liberty's expectations are: exploration risks; commodity prices; regulatory approvals; receipt of mining permits and leases; equipment failures and shortage of supplies; and assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to publicly update any such statement or reflect new information or the occurrence of future events or circumstances, except where required by securities regulations. Accordingly, readers should not place undue reliance on forward-looking statements.

SOURCE: Liberty Mines Inc.

Liberty Mines Inc. 
Dr. Gary Nash, PhD (Physics), President & CEO