SOURCE: First Liberty Power Corp.

March 15, 2010 09:00 ET

First Liberty Power Corp. Signs Definitive Agreement to Acquire Lithium and Vanadium Properties

LAS VEGAS, NV--(Marketwire - March 15, 2010) -  First Liberty Power Corp. ("the Company") (OTCBB: FLPC) is pleased to announce that it has entered into a mineral property acquisition agreement to acquire 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").

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 regions lithium. The north end of ClaytonValley 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 Company's exploration of the LVW claims will evaluate the potential for lithium enriched brines within this highly prospective basin.

The Uravan Mineral claims are located within the Colorado Plateau near the Utah-Colorado border. A preliminary radon survey was completed on the Uravan Mineral Claims during September, 2009. The preliminary radon survey data indicates an anomalous east-west radiometric trend. The size of the anomalies appears to be similar to the size of the high grade vanadium-uranium beds mined from the nearby Firefly, Gray Daun and Vanadium Queen Mine. The channel system already delineated by the radon survey is part of the channel system that hosts the Pandora and Beaver Shaft mines, both producing Uranium and Vanadium ore that is transported to and processed at the Dennison Mill located near Blanding Utah.

Glyn R Garner, President and CEO of First Liberty Power Corp, commented, "First Liberty believes lithium, vanadium and uranium will play a key role in the revolutionary transformation taking place in the way the world is powered. In addition to excellent infrastructure of these highly prospective properties, First Liberty has positioned itself under the guidance of renowned geological consulting firm GeoXplorCorp. who have performed more radon surveys and successfully drilled into more radon anomalies in SE Utah than anyone in addition to having more exploration experience with Nevada brines than any other company in the USA. The company plans on aggressive exploration programs to consist of various geophysical methods prior to drilling on both of these exceptional properties."

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, 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