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TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (???Liberty
Star??? or the ???Company???)(LBSR:
OTCQB) is pleased to announce receipt of a new bid for ZTEM
electromagnetic (EM) geophysical studies from Geotech
Ltd. (???Geotech???). The new bid is for fixed wing flight over the
Hay Mountain portion of the Company???s Tombstone
Super Project in Cochise County, AZ. According to this latest
bid, Liberty Star will see a savings of over 50% from the original
helicopter borne proposal. Liberty Star is going forward with Geotech???s
required 50% deposit to begin the fixed wing ZTEM program within the
next two to three weeks. The aircraft and staff are available within
that time frame.
Total costs, including program mobilization/demobilization, the
over-flight of the ZTEM survey, and reporting are $174,100.
Comments Liberty Star CEO/Chief Geologist Jim Briscoe: ???While the new
bid from Geotech is less than half the dollar amount of the original
bid, Geotech assures us that the quality of the fixed wing program is
similar to that of the original helicopter borne proposal. I have
studied the Tombstone area for more than 40 years which includes
numerous independent data and believe the ZTEM information will lead to
information at depth below the geochemically indicated mineral bodies
and thus more precise targeting for the drilling program to follow. The
permitting process continues as we work on the Arizona State Land
Department plans of operation requirements. One of these was submitted
4/25 with more to follow. The ZTEM does not require a permit as the
airborne EM has no effect on the land. With drilling we expect to
intersect porphyry copper, gold, moly, zinc and possibly rare earth
elements as indicated in previous data including recent geochemical
studies. The immediate task at hand is to fly the ZTEM survey. Of course
continued funding remains an imperative as well.???
???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, that total ZTEM costs are
$174,100; and that ZTEM information will lead to information at depth
below the geochemically indicated mineral bodies and thus more precise
targeting for the drilling program to follow. Factors which may delay or
prevent these forward-looking statements from being realized include: we
may not be able to raise sufficient funds to complete our intended
exploration, keep our properties or carry on operations; there may be
cost overruns; misinterpretation of data is possible; and we may be
unable to continue exploration due to permitting requirements, 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.