SOURCE: Liberty Mines Inc.

August 22, 2007 08:00 ET

Liberty Announces Drill Results From the Hart Nickel Project

TIMMINS, ON--(Marketwire - August 22, 2007) - Liberty Mines Inc. ("Liberty or the Corporation") (TSX-V: LBE) is pleased to announce further diamond drilling results from the Hart Nickel ("Ni") Project, located approximately 5 km east of the Redstone complex. The core lengths presented in the table are the intersected lengths, and the composite lengths are core weighted.

--------------------------------------------------------
Hole Number     From(m)    To(m)    Interval(m)    Ni%
--------------------------------------------------------
H-07-24          296.0     299.0      3.0         1.28
Including                             1.0         3.36
H-07-26          146.4     148.0      1.6         1.42
--------------------------------------------------------

Borehole Coordinates

--------------------------------------------------------------
                    Collar Coordinates
               ------------------------------
Hole Number    Easting   Northing   Elevation   Azimuth   Dip
--------------------------------------------------------------
H-07-24         2575      3900        1000        360     -70
H-07-26         2550      4000        1000        360     -65
--------------------------------------------------------------

H-07-24 intersected the mineralized horizon at a depth of approximately 275 meters below surface directly down plunge of borehole H-07-22, which intersected 2.91% Ni over 3.7m. This confirms mineralization down to at least this depth. H-07-26 intersected mineralization at a depth of approximately 130 meters. The two holes reported in this press release represent two of the five mineralized holes mentioned in the press release of August 13, 2007. Further assay results are pending.

The ore-body is interpreted to be plunging 20 degrees to the east following a trough-like embayment flanked by sulphide-facies iron formation. This conforms with the classical Kamblada-style komatiite-hosted Ni deposit, in which massive sulphide lenses occupy localized depressions in the paleotopography. Drilling at the Hart project is ongoing in an attempt to delineate mineralization down to 300m below surface. Below 50m depth the deposit is still open to the east, so that drilling will be primarily moving in this direction on a sectional basis.

The project was supervised by Liberty's Vice President of Exploration, William Randall MSc (Geology), and by Richard Allard P. Geo, a qualified person as defined by National Instrument 43-101. According to the company sampling protocol, half of the diamond drill core is sampled and sent to ALS CHEMEX in Timmins to be prepared for analysis. The prepared samples are then forwarded to the ALS CHEMEX Laboratory in Vancouver for analysis. Base metal values are analyzed by aqua regia 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 startup 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