SOURCE: First Liberty Power Corp.

March 17, 2010 09:00 ET

First Liberty Power Corp. Signs $1 Million Equity Financing Agreement

LAS VEGAS, NV--(Marketwire - March 17, 2010) -  First Liberty Power Corp. (OTCBB: FLPC), an energy and minerals exploration company headquartered in Las Vegas, Nevada, is pleased to announce that it has entered into an equity financing agreement with a European-based institutional investor for up to $1,000,000.

Mr. Glyn R. Garner, First Liberty Power's CEO and President, commented, "I am very happy to have closed this equity financing agreement. This financing will allow First Liberty to fund the implementation of our exploration and development strategy. This agreement is an indication of confidence in the future of our projects and will ensure the future growth of the Company."

The funds raised will be allocated to the exploration and development of the Company's 84 placer claims (12,800 acres) strategically located in Esmeralda County, Nevada (the "LVW claims") and 66 mineral lode claims in San Juan County, Utah (the "Uravan mineral claims").

Under the terms of the agreement, First Liberty Power Corp. has the right to call upon funds for up to $1,000,000 by issuing units consisting of one share of its common stock and one common stock purchase warrant exercisable for the purchase of one additional share of common stock. The securities to be issued under the agreement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent a registration or an applicable exemption from the registration.

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 closing of the private placement, 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.

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