SOURCE: Liberty Mines Inc.

March 26, 2007 08:50 ET

Acceleration of Right to Exercise October 24, 2006 Warrants

EDMONTON, AB -- (MARKET WIRE) -- March 26, 2007 -- Liberty Mines Inc. (TSX-V: LBE) ("Liberty or the Corporation") announces that the conditions have been fulfilled to require the early exercise of 1,985,000 warrants held by investors and 726,808 broker warrants held by a syndicate led by Salman Partners who arranged the October 24, 2006 financing. The subscription agreement stated that if the closing trading price of the Corporation's common shares is $1.50 or more for a period of 20 consecutive trading days after February 24, 2007, the Corporation has the option to require the earlier exercise of the warrants at an exercise price of $1.00 within 30 days of formal notice from the Corporation. This press release serves as formal notice that this provision has been met and that a total of 2,685,308 warrants exercisable at $1.00 will expire unless exercised prior to April 25, 2007 at 5:00 P.M MDT. Liberty's new head office is located in Edmonton, Alberta at 311A 8925-51 Avenue, T6E 5J3.

About Liberty Mines Inc.

Liberty Mines Inc. is a mineral exploration and development company with a focus on the development and production of nickel, cobalt 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. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Press Release 10-07

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