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TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (???Liberty
Star??? or the ???Company???)(LBSR:
OTCQB) is pleased to announce the submission of the Class III
Archeological Report (the ???Report???) to the Arizona
State Land Department (???ASLD???). The Report fulfills the ASLD
requirement to complete an archeological study of Company lands held
under State Mineral Exploration Permits (???MEPs???) which can now be
surface sampled and drilled, with discovery leading to State Mineral
Leases. This report will be available on the Company web site. The
Report, submitted by Jim Moses of Antigua
Archeology, LLC, found no substantial archeological remains that
would delay exploration of the Hay
Mountain MEPs. Liberty Star also holds federal mining claims in
adjacent areas over federal land. These claims do not require an
archaeologic study, and have already been sampled.
The Arizona MEP process requires the submission of archeological studies
in a professional archaeological report, which the state will evaluate
and approve recommendations. This approval precedes all geologic field
work which disturbs the surface, including geochemical studies. The
Company directed Antigua to cover all possibilities for future
geochemical and drilling activities, in order that the Company has the
freedom to select its own priorities for such work without permitting
delays. As a result, on approval, the Company may conduct sampling in
increments to determine where it is most important to have a close
spaced survey grid in preparation to determine final positioning of
drill holes. The Report submitted today to ASLD comprised 32 potential
drill sites along with 5.45 miles of associated access roads. Additional
sample lines were included so that a square grid survey (at 100 meters x
100 meters) would allow the field staff to conduct further work to help
more closely define the details of the anomaly which thus far has
included markers for gold, copper, moly, lead and rare earth elements (4
of 17).
The 100 meter sampling grid, which if carried out within both the REE,
gold, copper, moly & lead anomalies would require another 2,672 samples.
Liberty Star will do further sampling in increments to determine where
it is most important to have a close spaced grid in preparation to final
positioning of drill holes, from a selection of the 32 permitted sites,
as well as others on the federal mining claims. Because of the
cost-effectiveness of doing this required archaeological study while the
archeological assessment team is on site rather than a piecemeal
approach, the Company ordered the additional drill and geochemical sites
surveyed, as well as currently identified potential drill targets. These
multiple additional permitted sites will allow Liberty Star to have more
options of drill site selection during the exploratory drilling phase.
Additionally, Liberty Star has approximately two square miles of State
MEPs that were acquired after the initial geochem results were plotted
on maps over previously acquired land. Antigua Archaeology will complete
another survey and report of the additional lands which, on approval of
the ASLD, will then undergo initial geochemical sampling for 77
elements, including all 17 rare earth elements at our initial sample
grid of 200 meters by 400 meters. Interpretation will determine if we
will keep these MEPs and do further geochem work leading to drilling on
them.
About Hay Mountain, Southeast Arizona
The Hay Mountain block of the Tombstone
Super Project (Cochise County, Arizona) consists of 57 unpatented
federal lode mining claims in addition to 15 Arizona State Mineral
Exploration Permits (MEPs). MEPs are the first step in completing an
Arizona State Land Mining Lease. The Company has completed the required
assessment work to hold the MEPs. This land position covers a
geologically, geophysically and geochemically indicated completely
covered porphyry copper-moly-silver-gold, and rare earth elements
mineral center. One major target within the Hay Mountain claim block is
defined along with four other smaller targets. Liberty Star has recently
discovered a large intrusion - indicated by an aerially extensive low
flight level magnetic survey - under and partially exposed in and around
the Tombstone caldera (NR
129). Mineralization is clearly associated with this intrusive body.
???James A. Briscoe??? James
A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty
Star Uranium & Metals Corp.
Forward-Looking Statements
Statements in this news release that are not historical are
forward-looking statements. Forward-looking statements in this news
release include our exploration plans. Factors which may delay or
prevent these forward-looking statements from being realized include:
the failure of our exploration program to identify targets; we may not
be able to raise sufficient funds to complete our intended exploration,
keep our properties or carry on operations; and an inability to continue
exploration due to weather, logistical problems, labor or equipment
problems or hazards even if funds are available. Despite encouraging
data there may be no commercially exploitable mineralization on our
properties. Readers should refer to the risk disclosures in the
Company???s recent 10-K and the Company???s other periodic reports filed
from time to time with the Securities and Exchange Commission.