Liberty Mines Inc.
TSX : LBE

Liberty Mines Inc.

February 26, 2009 16:45 ET

Liberty Provides Further Update

EDMONTON, ALBERTA--(Marketwire - Feb. 26, 2009) - Liberty Mines Inc. ("Liberty or the Company") (TSX:LBE) announces that further to the press release of February 19, 2009, the note-holders shall refrain from enforcing or directing the Trustee of the loan to enforce any rights under the indenture securing the loan until April 1, 2009 providing there are no actions by creditors which materially deteriorate the security position of the note-holders or the Trustee.

The note-holders encouraged management to pursue alternative financing arrangements with one or more third parties to ensure the long term well being of the Company. Management hopes to conclude negotiations and announce the signing of a definitive agreement soon.

About Liberty Mines Inc.

Liberty Mines Inc. is a producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada. It owns and operates the Redstone nickel concentrator near Timmins Ontario. Its operations are presently under care and maintenance due to low commodity prices.

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 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, receipt of mining permits and leases and assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators.

Contact Information

  • Liberty Mines Inc.
    Dr. Gary Nash, PhD (Physics)
    President & CEO
    (416) 238-9736
    (780) 437-7898 (FAX)
    Email: gnash@libertymines.com