Update

Ni, Co, Cu, PGM, Au Properties in Ontario Canada

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Update

posted on Feb 10, 2011 05:36PM

Liberty Mines brings Hart claims to lease

2011-02-10 14:31 ET - News Release

Mr. James Richardson reports

LIBERTY PROVIDES UPDATE ON THE HART PROJECT

Liberty Mines Inc. has provided information on recent advances on the Hart project located approximately 27 kilometres southeast of the city of Timmins, Ont., and six kilometres from Liberty's fully permitted and operating 1,500-tonne-per-day mill. The company reports that, under approval of the Ministry of Northern Development, Mines and Forestry, the Hart claims have been brought to lease. This is an important advance in the compliance process which satisfies one of the regulatory steps to allow Liberty Mines to commence mining activities on the Hart property. Other required steps include the environmental permitting and consultation with representatives of groups having aboriginal rights, which are under way.

"Bringing the Hart claims to lease represents a significant milestone towards development and mining of the Hart deposit," commented chief executive officer Jay Richardson. "With the environmental permitting process well under way as well as ongoing dialogue with first nations and Metis representatives, the Hart nickel project is well on schedule to commence mining activities in 2012."

Liberty Mines confirms that the company is strongly focused and committed to further exploration initiatives beyond this, as it is an integral part of the company's overall strategic plan for 2011 and beyond, and is pleased to announce that it will be issuing a further press release in the near future detailing its exploration program for 2011.

Currently, company engineers and geologists are evaluating the Hart nickel deposit internally to determine the most cost-effective mining methodology suitable for this deposit. A PEA (preliminary economic assessment) by SRK Consulting Inc. completed in February, 2010, determined an indicated resource of 1,546,000 tonnes at an average grade of 1.40 per cent nickel and an inferred resource of 322,000 tonnes at an average grade of 1.40 per cent nickel.