SOURCE: Liberty Mines Inc.

September 28, 2007 08:00 ET

Liberty Provides McWatters Drill Results and Groves Update

EDMONTON, AB--(Marketwire - September 28, 2007) - Liberty Mines Inc. (TSX-V: LBE) ("Liberty or the Corporation") is pleased to announce drill results from ongoing definition drilling at Liberty's McWatters nickel (Ni) deposit. A combination of exploration and definition diamond drilling from surface has been designed to accurately identify the ore zone for mining, scheduled to commence later this year. Highlights of the present results include 1.12% Ni over 48.8 metres, including 2.56% Ni over 12.40 metres and 4.04% Ni over 5.95 metres, and 0.81% Ni over 76.8 metres, including 5.18% Ni over 4.3 metres. Results are summarized in the following table.

Hole Number     From        To      Interval       Ni%
--------------------------------------------------------
MCW-07-58      34.00      45.00       11.00       0.54
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MCW-07-59      27.00      47.00       20.00       0.52
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MCW-07-60      40.00      50.00       10.00       0.51
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MCW-07-62      18.50      68.00       49.50       0.56
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Including                              9.00       1.06
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Including                              1.00       2.67
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MCW-07-63      97.00      99.60        2.60       1.04
--------------------------------------------------------
MCW-07-64     142.50     148.00        5.50       0.65
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MCW-07-68      44.00     120.30       76.30       0.81
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Including                              4.30       5.18
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And           131.00     139.50        8.50       1.30
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MCW-07-70      41.00      57.50       16.50       0.51
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MCW-07-72      98.00     116.00       18.00       0.64
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MCW-07-73      77.00     106.00       29.00       0.84
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MCW-07-76      39.50      63.50       24.00       0.67
--------------------------------------------------------
MCW-07-78      95.00     143.80       48.80       1.12
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Including                             12.40       2.56
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Including                              5.95       4.04
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MCW-07-79      68.30      77.50        9.20       0.79
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And            80.90     119.65       38.75       0.74
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And           125.60     128.00        2.40       2.50
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MCW-07-80      65.00      78.10       13.10       0.75
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And            85.20     102.50       17.30       0.86
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MCW-07-81      87.00     126.80       39.80       0.78
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Including                              0.45       3.65
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And            68.00      79.70       11.70       0.76
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MCW-07-82      54.20      74.00       19.80       0.83
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MCW-07-83      44.00      56.00       12.00       0.78
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MCW-07-87      54.50      75.50       21.00       0.87
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MCW-07-98      72.50     124.60       52.10       0.61
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MCW-07-104    119.00     148.90       29.90       0.54
--------------------------------------------------------


Borehole Coordinates


                      Collar Coordinates
Hole Number    Easting     Northing     Elevation     Azimuth     Dip
------------------------------------------------------------------------
MCW-07-58      10075.5       4970          293          360       -74
------------------------------------------------------------------------
MCW-07-59      10075.5       4970          293          360       -68
------------------------------------------------------------------------
MCW-07-60      10075.5       4970          293          360       -61
------------------------------------------------------------------------
MCW-07-62      10060.5       4964          293          360       -67
------------------------------------------------------------------------
MCW-07-63      10053         4949.5        293          360       -71
------------------------------------------------------------------------
MCW-07-64      10045.5       4936.8        293          360       -70
------------------------------------------------------------------------
MCW-07-68      10030.5       4959.5        293          360       -70
------------------------------------------------------------------------
MCW-07-70      10030.5       4959.5        293          360       -49
------------------------------------------------------------------------
MCW-07-72      10015         4936.6        293          360       -65
------------------------------------------------------------------------
MCW-07-73      10015         4936.6        293          360       -60
------------------------------------------------------------------------
MCW-07-76      10015         4960          293          360       -60
------------------------------------------------------------------------
MCW-07-78      10000.5       4950          293          360       -76
------------------------------------------------------------------------
MCW-07-79      10000.5       4950          293          360       -70
------------------------------------------------------------------------
MCW-07-80      10000.5       4950          293          360       -66
------------------------------------------------------------------------
MCW-07-81      10000.5       4950          293          360       -61
------------------------------------------------------------------------
MCW-07-82      10000.5       4950          293          360       -53
------------------------------------------------------------------------
MCW-07-83      10000.5       4950          293          360       -42
------------------------------------------------------------------------
MCW-07-87       9985.5       4950          293          360       -48
------------------------------------------------------------------------
MCW-07-98      10015         4960          293          360       -75
------------------------------------------------------------------------
MCW-07-104     10000.5       4950          293          360       -82
------------------------------------------------------------------------

The core lengths presented in the above table are the intersected core lengths and do not represent true widths. The composite lengths are core weighted. These holes will form part of a resource calculation scheduled to be completed towards the end of this year. To date 56 diamond drill holes have been drilled on the property with 32 unreleased boreholes pending assay results.

"The detailed in-fill drill program will ensure the maximum efficiency of our mining operations on this project," said Liberty's Vice President of Exploration, William Randall. "We continue to see the deposit grow with boreholes such as MCW-07-78 and MCW-07-81 extending the previously known zone by 10 to 15 metres," he added.

Groves Nickel Copper PGM Project

Liberty plans to fly an airborne VTEM survey over the recently acquired land package, including the Groves Ni-Cu-PGM deposit. The survey is designed to acquire a geophysical response over the known mineralized portion of the gabbroic intrusion, as well as test the full extent of the intrusive. This will allow Liberty's geological team to determine the possible extensions of the Ni and Cu mineralization identified, as well as locate prospective targets in the surrounding area. The property is scheduled to be ready for diamond drilling by late spring 2008.

"Airborne VTEM surveys have proven extremely useful in the past, and it will offer an excellent platform on which to base our upcoming exploration campaign at the Groves property," said William Randall, commenting on the proposed plans. "We are also going to fly the same system over our McWatters deposit, to see if we can identify a signature pertaining to the massive nickel sulphides lying approximately 120 metres below surface. If we are successful, this will open up the possibility of identifying numerous targets that have never been found," he added.

The project was supervised by Liberty's Vice President of Exploration, William Randall MSc (Geology), Chris Albert BSc (Geology), and by Richard Allard P. Geo, a qualified person as defined by National Instrument 43-101. According to the company sampling protocol, half of the diamond drill core is sampled and sent to ALS CHEMEX in Timmins to be prepared for analysis. The prepared samples are then forwarded to the ALS CHEMEX Laboratory in Vancouver for analysis. Base metal values are analyzed by aqua regia digestion and ICP-AES finish. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.

About Liberty Mines Inc.

Liberty Mines Inc. is a mineral exploration and development company with a focus on the development and mining of nickel, cobalt, copper and platinum group metals from its properties in 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 potential mineralization and reserves, exploration results, and 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, assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators.

Press Release 32-07

Contact Information

  • For further information please contact:
    Dr. Gary Nash, PhD (Physics)
    President & CEO
    Liberty Mines Inc.
    Phone (416) 238-9736
    Fax 780-437-7898
    e-mail: Email Contact