SOURCE: Liberty Mines Inc.

May 04, 2007 09:00 ET

Deep Drilling at the Redstone Mine Intersects up to 14.2% Nickel

TIMMINS, ON -- (MARKET WIRE) -- May 4, 2007 --Liberty Mines Inc. (TSX-V: LBE) ("Liberty or the Corporation") is pleased to announce that the first four diamond drill holes designed to test the "INCO" geophysical anomaly have intersected significant Ni mineralization. Diamond drill holes RS07-06 and RS07-08 were drilled from surface, and holes RS07-6A and RS07-8A were wedged from each drill hole respectively. The core lengths presented in the table are the intersected lengths, and the composite lengths are core weighted.

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Hole Number   Vertical depth   From(m)   To(m)    Interval(m)   Ni%
              from surface(m)
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RS07-06       1155             1200.05   1200.47  0.42          1.54
RS07-08       803              881.30    881.70   0.40          2.34
RS07-6A       1064             1131.50   1136.15  4.65          3.62
Including                      1134.40   1136.15  1.75          7.13
RS07-8A       789              863.30    871.80   8.50          2.40
Including                      871.10    871.80   0.70          14.2
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                           Borehole Coordinates

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Hole Number          Collar Coordinates
               Easting   Northing   Elevation     Azimuth         Dip
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RS07-06        3680      2600       3035          360             -74
RS07-08        3550      2800       3038          360             -67
RS07-6A        3680      2600       3035          wedge (RS07-06) @ 632m
RS07-8A        3550      2800       3038          wedge (RS07-08) @ 434m
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Diamond drill holes RS07-06 and RS07-08 are interpreted to have intersected the western margin of the nickel mineralization that represents the down-dip extension of the Redstone channel. Subsequent wedge holes were directed east which successfully intersected zones closer to the central portion of the orebody. The pierce point for RS07-6A was 15m east and 91m above RS07-06, while RS07-8A hit 57m east and 14 above RS07-08.

Two additional wedged holes off the original surface drill holes are in progress. Once completed drilling will continue to define the mineralization at approximately 3050 foot level (930m).

The project was supervised by Liberty's Vice President of Exploration, William Randall MSc (Geology), and by Henry Hutteri P. Geo, a qualified person as defined by National Instrument 43-101. According to company sampling protocol, half of the diamond drill core is sampled, and sent to ALS CHEMEX Laboratory (sample preparation is completed in Timmins and sent to Vancouver for analysis). Base metal values were analysed by acid 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 start-up and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators.

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