Liberty Star Uranium & Metals Corp.

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Message: Drilling 2

At an assumed purchase price of $0.0034 we will be able to receive up to $1,190,000 in gross proceeds, assuming the sale of the 350,000,000 shares of our common stock pursuant to the investment agreement with Tangiers, being the number of shares being offered pursuant to this prospectus. As of the date hereof, we have received aggregate gross proceeds of $129,751 pursuant to the investment agreement with Tangiers from shares registered under the July 29, 2015 Amended Form S-1 Registration Statement. If we want to obtain the full $8,000,000 under the investment agreement, after the sale of 350,000,000 common shares of our stock pursuant to this Amended Form S-1 registration statement, we will have to register an additional 1,964,779,411 shares of our common stock.

As of October 26, 2015, Tangiers held 11,067,700 shares of our common stock pursuant to the puts made under the investment agreement.

http://www.sec.gov/Archives/edgar/data/1172178/000106299315006443/forms1a.htm#page_12

So, as of the last 10Q, etc. these funds appear NOT to be in hand yet. Thus...

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