Liberty Silver Corp.
OTC Bulletin Board : LBSV

Liberty Silver Corp.

April 01, 2010 13:29 ET

Liberty Silver Announces Property Earn-In Agreement

RENO, NEVADA--(Marketwire - April 1, 2010) - Liberty Silver Corp. (OTCBB:LBSV) ("LBSV" or the "Company") is pleased to announce the signing of a an Exploration Earn-in Agreement with AuEx Ventures Inc., ("AuEx") (TSX:XAU) for the Trinity Silver property, located in Pershing County, Nevada. The property consists of 59 unpatented mining claims and 5,040 acres of fee land, about 5,800 acres in total. The property is located about 25 miles northwest of the Rochester Silver Mine, one of the largest silver mines in the US.

Liberty Silver Corp. can earn-in an undivided 70% interest in the Trinity Silver property during a six-year period in consideration of 1) a signing payment of $25,000 USD, which has been made, 2) a total of $5,000,000 in exploration expenditures by August 20, 2014, including a minimum of $500,000 in the first year (firm commitment). LBSV must spend a cumulative US$5,000,000 in exploration and development work on the property by August 20, 2014, in accordance with the following schedule:

Year 2: US$1,500,000 by August 20 2011
Year 3: US$2,500,000 by August 20 2012
Year 4: US$3,500,000 by August 20 2013
Year 5: US$4,500,000 by August 20 2014
Year 6: US$5,000,000 by August 20 2015 and,
Minimum work obligation $500,000 per year thereafter year 6

LBSV will be the operator of the joint venture and will arrange for the preparation of a NI 43-101 technical report.

Terry Fields, President and CEO of Liberty Silver, stated; "Trinity represents an outstanding opportunity for Liberty Silver to explore and develop a strong silver mineralized system and past producer with the view of realizing the large-scale, bulk mineable potential. Opportunities of this nature are few and far between and Trinity is a natural fit with Liberty Silver's long-term strategic objective of developing a strong pipeline of projects in our focus area of North America. Our initial program will be designed to make a NR 43-101 compliant resource estimate on the known deposit; to test the high grade silver mineralization below the Trinity mine that was confirmed by the AuEx drilling in 2006; and expand the known silver resource. We are elated to have the opportunity to bring this historic silver producer to production once again."


Silver mineralization was discovered at Trinity by U.S. Borax in 1981 and was subsequently explored under a joint venture between U.S. Borax and Santa Fe Pacific Gold Corp. from 1982 until 1986 leading to the development of the Trinity mine that was in production for just over two years. During this time five million ounces of silver were produced from one million tons of ore. Only the oxide portion of the deposit was mined leaving the partially drilled out sulfide portion of the deposit in place. The property was subsequently explored further by Santa Fe Pacific Gold in the period 1990 to 1992. AuEx drilled 10 core holes in 2007 and 25 reverse circulation holes in 2008. The 2007 drilling verified the presence of high grade silver mineralization in the sulfide zone below the old Trinity mine.

About AuEx Ventures, Inc.

AuEx Ventures, Inc. is a precious metals exploration company that has a current portfolio of twenty three exploration projects in Nevada, two projects in Argentina and one project in Spain. The Company controls about 176,000 acres of unpatented claims and fee land in prospective areas of Nevada. Nine of the projects are in exploration earn-in or formal joint venture agreements with five companies who provide exploration funding. The Company applies the extensive exploration experience and high-end technical skills of its founders to search for and acquire new precious metal exploration projects that are then offered for joint venture.

About Liberty Silver Corp.

Liberty Silver Corp. a publicly held American Company whose shares trade on the OTC:BB as LBSV. Liberty Silver is focused on exploring and developing mineral properties located in North America. The Company is led by a highly skilled, experienced management team and board of directors with decades of success managing exploration, development and mining projects. The Company is committed to creating value for its shareholders by advancing its current projects to production, developing new resources on its current properties, and by acquiring new properties that have with potential to increase their resource base.

On behalf of the board of directors of Liberty Silver Corp.

Terry Fields, President and CEO

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