Liberty Mines Inc.
TSX VENTURE : LBE

Liberty Mines Inc.

November 14, 2007 07:30 ET

Liberty to Ship Concentrate From the Redstone Mill to Xstrata

EDMONTON, ALBERTA--(Marketwire - Nov. 14, 2007) - Liberty Mines Inc. ("Liberty or the Company") (TSX VENTURE:LBE) is pleased to announce that the majority of the concentrate produced from its Redstone nickel concentrator, located 25 km southeast of Timmins, Ontario will be shipped to the Xstrata Nickel smelter located in Sudbury, Ontario, effective immediately.

Liberty has been shipping concentrate from the Redstone Mill to Jilin Jien Nickel Industry ("JJNICL") of China under an existing off-take agreement. A new agreement, which was signed by both parties on November 9, 2007, supersedes the previous off-take agreement and limits the concentrate shipped to JJNICL to a maximum of 20 tonnes per day until the expiration date of November 23, 2010. An agreement has also been reached with Xstrata Nickel for treatment terms to process the balance of the concentrate produced at the Redstone Mill. The agreement with Xstrata Nickel allows for payable metal credits for copper, cobalt and platinum group metals to be made to Liberty. This enhances the revenue stream received by Liberty for the treatment of its concentrate.

"The opportunity to work with Xstrata streamlines our concentrate handling and improves the economics of our operations." said Liberty's President and CEO, Gary Nash.

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.

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, permitting, and assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators.

Investors are invited to visit the Liberty Mines IR Hub at AGORACOM: http://www.agoracom.com/IR/LibertyMines where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to mailto:LBE@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

Contact Information

  • Liberty Mines Inc.
    Dr. Gary Nash, PhD (Physics)
    President & CEO
    (416) 238-9736
    (780) 437-7898 (FAX)
    Email: gnash@libertymines.com