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TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (???Liberty
Star??? or the ???Company???)
(LBSR:
OTCQB) is pleased to announce that it has completed a non-brokered
private placement with a private US accredited investor for proceeds
totaling USD $50,000. There was no brokerage commission paid.
The Company will use the funds for payment toward the current ZTEM
survey program over Liberty Star???s Hay
Mountain property. With this funding, the ZTEM program announced in NR
152 will be paid in full. Geophysical electromagnetic and magnetic
data collected by the ZTEM survey will be processed and interpreted by
Geotech Ltd. in collaboration with Liberty Star within about two weeks
after the overflight of the Hay Mountain property and its environs.
Porphyry coppers, other mineral bodies and geologic features have
distinctive characteristics which can be detected and interpreted by
ZTEM technology which allows modeling or ???seeing??? conductive or
resistive features from a few hundred feet (100 meters) to depths as
much as 6,000 feet (2,000 meters).
Current Hay Mountain ZTEM survey update:
Geotech has sent word that the survey aircraft has left the Toronto area
today and is expected to arrive in Sierra Vista, Ariz., about Saturday,
June 8th. There will be about three days setup of ground
geophysical recorders and base camp computers. When that is complete the
ZTEM overflight should begin, barring unfavorable operational or weather
issues.
???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 ZTEM will be flown over the
entire Hay Mountain anomaly area; that ZTEM will be processed by Geotech
within two weeks. 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.