SOURCE: First Liberty Power Corp.

October 12, 2010 09:00 ET

First Liberty Power Corp. Announces Second Phase of Exploration Program for Lida Valley, Nevada Lithium Prospect

LAS VEGAS, NV--(Marketwire - October 12, 2010) - First Liberty Power Corp. (OTCBB: FLPC) is pleased to announce today its proposed second phase of its exploration program for the Lida Valley Lithium Brine Prospect (the LVW claims). The property covers 12,800 acres and is located in Esmeralda County, Nevada.

The LVW claims share a similar geology and weathering history to nearby Clayton Valley; the LVW Claims are located within 15 miles of the Montezuma Peak, which is believed to be the source of the region's lithium. The north end of Clayton Valley hosts Chemetall Foote Corporation's Silver Peak Mine, the only lithium brine producer in the United States. Mine production comes from a lithium enriched brine located below the surface. This plant has been in production since 1967 and is designed to produce up to 1.2 million kilograms of lithium hydroxide per annum.

The proposed second phase of the exploration program will consist of a controlled source audio magnetotellurics/magentotellurics (CSAMT/MT) survey. The CSAMT/MT surveys will aid to determine if conductive zones, possibly indicative of lithium-bearing brines, are present and continuous within the basin. CSAMT/MT is an electronic (EM) geophysical method commonly used in the exploration industry. It determines the earth's two dimensional subsurface electrical resistivity distribution by measuring time dependent variations of the earth's natural electric and magnetic fields, as well as the electric and magnetic fields resulting from high frequency induced waves. The resistivity information is generally used to determine subsurface geologic and hydrogeologic conditions and structure. The CSAMT/MT method is designed to investigate from depths of approximately 20 - 750 metres.

First Liberty Power Corp. President and CEO Glyn R. Garner comments, "We are working with GeoXplor Corp. and Hasbrouck Geophysics, Inc. on the budget and a timeline to begin work. We are committed to keeping our shareholders informed of our progress; I anticipate further details on the program to be released over the coming weeks."

First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium and vanadium exploration and development in the United States. The Company is positioned to capitalize on the anticipated increase in demand for both lithium carbonate and vanadium that is projected to result from the adoption and use of clean renewable energy that will fuel demand for products that utilize lithium-ion batteries and vanadium redox batteries.

Notice Regarding Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the exploration/work program for the LVW claims, the completion of, or any results of any controlled source audio magnetotellurics /magentotellurics (CSAMT/MT) surveys undertaken, Lithium production from the Clayton Valley or surrounding region, and any mineralization, exploration and development of our mineral properties, specifically in regards to Lithium and Vanadium.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

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