CEO/President Brett Gross took time to consider these questions and offered the following answers [Tracy Myers LBSR IR Rep]:

Question: 1) Does LBSR have all the land usage rights required to get equipment and personnel from the public highway south of Tombstone to the drilling targets in the Hay Mountain area? I ask because I know that there are private properties in the area, as well as topographic, ecological, and archeological limitations that may complicate access. https://agoracom.com/ir/libertystar/forums/discussion/topics/736279-adjoining-land-useage-rights/messages/2256156#message

Answer: Please refer to release December 15, 2019. With the addition of those referenced ASLD MEPs, we are in a more secure position now than we have been for years regarding both access that does not rely on private lands and surface area needed to support future mine support facilities. Interesting this important question wasn’t asked a long time ago. Regarding your reference to topographic, ecological, and archeological limitations, the Company is aware of the complexities of mine development and regulatory requirements (esp. archeological surveys) and will comply with all as necessary.

Question 2) What is the nature of Dr. Wilson's compensation? The first PR about him said that he was "engaged" to find potential partners. Another referred to him as a consultant in regards to his interpretation of ZTEM (subject to a formalized later re-interpretation). So the nature of his "engagement" is unclear. More importantly, what does he cost us? https://agoracom.com/ir/libertystar/forums/discussion/topics/736160-alan-wilson/messages/2255838#message

Answer: Contractual information will be part of the annual report (SEC Form 10K) for the fiscal year ending Jan 31, 2020. The ZTEM 3D interpretive work was handled by Geotech Ltd., overseen by chief geophysicist Jean Legault. The 3D integrated model, which includes biogeochemical, geophysical (ZTEM) and geological mapping information was performed by Alan King of Geoscience North in Toronto, Canada. Perhaps it is Alan King you are referring to as a “consultant.”

Question 3) Here is another issue that has not been addressed. Why was not the latest ZTEM interpretation 43-101 compliant? I think I read here that it was not necessary for seeking a partner, but even if that may be acceptable in some quarters - doubtful, in my opinion -, it is very important for knowledgable stock buyers/sellers. Adding those words to a PR costs nothing. Not including them, then, has to be seen as either an oversight or an intentional omission. Also, Dr. Wilson's background as provided by LBSR omits the fact that he recently identified himself as a hydrologist upon taking residence in Anguilla, a known center for money laundering. Was the failure to mention this also an oversight, or intentional omission?

Thank you.

Answer: There appears to be a continuing misconception about what an NI 43-101 report is. Please refer to these links for more information: https://www.bcsc.bc.ca/43-101_[NI]_05092016/ or https://www.osc.gov.on.ca/en/15019.htm, for the corresponding statutes in British Columbia and Ontario, respectively, as examples. First the NI 43-101 is a Canada Securities Commission regulatory standard form for mineral project disclosures for companies listed and trading on the Canadian stock exchanges, of which the Company is not one. While each of the experts the Company has retained for their respective analyses would be considered a “Qualified Person” meeting the NI 43-101 standard for such experts, the reports they prepared are far short of the level of project information that a NI 43-101 entails. To call them 43-101 reports, or even 43-101 compliant, is premature and, frankly irrelevant. None of the reports, standing alone, are a mineral project disclosure as contemplated in the Canada statutes. No drilling has been done, there is no reserve estimate being disclosed, no project economic evaluation offered, etc. The Company’s releases have been clear on these points. While it is quite likely that these reports, in some form will be included in a feasibility report substantially similar in scope and nature to an NI 43-101 in the future, that is a milestone in overall project development that will be the outcome of considerably more work including further exploration, drilling, engineering, orebody analysis and expert evaluation. There is no omission of information here. On the contrary, there is a deliberate, and mindful, attention to avoid overstatement.

Regarding Dr. Wilson’s credentials, they have been previously fully disclosed. He is recognized in the industry as an expert in his profession. Continued efforts to impugn his character and professional qualification by association with allegations of illegal activity in any jurisdiction in which he chooses to reside is undeserving of a response. Dr. Wilson is no more deserving of being smeared by association with his place of residence than is a resident of, for example, Phoenix, which suffers from the among the highest violent crime rates in the US among similarly sized cities, dramatically exceeding the national average for well over the past twenty years. See e.g. https://www.cityrating.com/crime-statistics/arizona/phoenix.html ; or https://realestate.usnews.com/places/arizona/phoenix/crime ; or https://www.phoenix.gov/policesite/Documents/UCR_2010-2019.pdf . There will be no further response in this regard.