SOURCE: Liberty Mines Inc.

June 23, 2006 08:57 ET

Liberty Encounters 25.4% Nickel Vein in West 800 Level Drift

TIMMINS, ON -- (MARKET WIRE) -- June 23, 2006 -- Liberty Mines Inc. (TSX-V: LBE) ("Liberty") is pleased to announce that mining at the Redstone nickel ("Ni") mine near Timmins is progressing very well. A vein of pentlandite with minor millerite and pyrrhotite 1 foot x 8 feet (.3m x 2.5 m) was encountered on the west face of the 800 foot (244m) level drift which graded up to 25.4% Ni. The drift was mined over 12 feet (3.5m) through the vein and work continues westerly on the structure with the vein still intact. The drift will be extended at least another 200 feet (61m) west. Sampling of the rich vein was taken as the drift was developed which also included check samples. For example, one sample graded 25.35% Ni which had a check sample of 23.12% Ni; another graded 24.64% Ni with a check sample of 25.4% Ni.

The nearby 109 stope yielded 1.46% Ni to 3.21% Ni to 7.94% Ni "muck" samples. Stopes 110 and 111 are being developed with completion of the sills and access raises partially completed.

Ore is being stockpiled in Cobalt for custom milling which is to commence on June 26. The nickel in concentrate will be shipped from the mill to Toronto and then batched for shipment to China in early July.

The sampling program is being carried out by Liberty's mine geologist William Randall HBSc MSc and Doug Robinson P.Eng., a "qualified person" as defined by National Instrument 43-101. Analyses were performed by Swastika Laboratories Ltd.

About Liberty Mines Inc.

Liberty Mines Inc. is a mineral exploration and development company with a focus on the development and production of nickel, cobalt 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