TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (OTCBB: LBSU) (the “Company”)
announces that it has signed an agreement to sell its option land at the
Providence Project to NPX Metals Inc (“NPX”).
The option land, adjacent to land already held by NPX, is believed to
host commercially relevant quantities of disseminated gold and silver in
Nevada’s historic Beatty Mining District.
The Company’s option which was obtained at
little cost and forms the northwestern pit wall of the
Montgomery-Shoshone (M-S) open pit, last mined in the 1990s by Barrick
Bull Frog Mining Company a subsidiary of Barrick Gold Corp. and others
for disseminated gold and silver. The mineral zone appears to continue
from the M-S open pit on to the Providence Project, but has yet to be
drill tested for precious metal mineralization (NR
74, April 29, 2008).
In general, the terms set forth in the sales agreement made during the
summer of 2008, with revisions October 15, 2008, provide that the
Company will assign its interest in the Providence Project option land
to NPX for $200,000. The two companies have also agreed that NPX will
hire Liberty Star to provide exploration and development services on the
project area. The Liberty Star geology team has begun field work in the
area.
ON BEHALF OF THE BOARD OF DIRECTORS
“James A. Briscoe”
James A. Briscoe,
President/Director
SAFE HARBOR STATEMENT
Statements in this news release that are not historical are
forward-looking statements. Forward-looking statements in this news
release include that we will sell our option land for $200,000 and that
we will be hired to conduct exploration and development work on the
property. Factors that may prevent or delay these statements coming to
fruition include inability to come to final agreement on sale, terms on
payment in the sale or in the work, other contractors offering better
terms or our inability to perform the work required. Readers should
refer to the risk disclosures outlined in the Company’s
most recent 10-KSB and the Company’s other
periodic reports filed from time to time with the Securities and
Exchange Commission.
About Liberty Star’s
Mineral Exploration Projects
Liberty Star Uranium & Metals Corp. is a mineral exploration company
currently with ongoing exploration interests for the discovery of
uranium ore deposits on the Arizona Strip region of the Colorado Plateau
(North Pipes Super Project). Liberty Star also maintains exploration
projects in Alaska for copper, gold, silver and moly, in Nevada for gold
and silver, and southern Arizona for porphyry copper and other metals.
Information on these can be found at Liberty Star’s
web site http://www.libertystaruranium.com/.
About NPX Minerals Inc.
NPX Metals is a mineral exploration company focused on properties in
Arizona and Nevada, headquartered in Apache Junction, Arizona. NPX
Metals is a Nevada Domestic Corporation (see Nevada Secretary of State
Business Entity E0254852006-7) incorporated in April 2006.
President/Director Daniel Bleak is a mining industry entrepreneur.
Corporate officers include Denis Corin (director), Johnathan Lindsay,
(director, secretary, treasurer) and Randall Reneau (director). Bret
Judd is the manager for Exploration & Land Tenure.