Feb. 22, 2011 (Filing Services Canada) -- Liberty Mines Inc. (LBE - TSX), announced today that it has temporarily suspended its milling operation to address maintenance requirements and some issues with its tailings pond. In the meantime, the mining operations at its McWatters Nickel Mine will continue at limited capacity and the exploration activities at its other properties will continue as scheduled.
"Safety and environmental issues are always at the forefront of our considerations", said CEO Jay Richardson, "and this will enable us to re-engineer the mine and mill operations and to ensure that we continue to act responsibly and in the best long term interests of our employees, shareholders and the public."
About Liberty Mines Inc.
Liberty Mines Inc. is a producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada. It owns and operates the Redstone nickel concentrator near Timmins Ontario.
About Jilin Jien Nickel Industry Co., Ltd.
Jilin Jien is one of the largest holding subsidiaries of Jilin Horoc Nonferrous Metal Group Co., Ltd., which was founded in 1960. Horoc and Jien own four nickel mines, one molybdenum mine, one silver mine, two smelters, seven refineries, and two chemical plants with total assets over RMB 3.0 billion. The company professionally provides all kinds of nickel, copper, cobalt salts and nonferrous metal products for plating, chemical plating, battery materials and metallurgy. Jilin Jien is one of the biggest producers of nickel sulfate in the world, with annual output of 25,000 tons. In September 2003, Jilin Jien Nickel Industry Co., Ltd. was listed on the A-share market of the Shanghai Stock Exchange with stock code of 600432.
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, without limitation, statements regarding future plans and objectives of Liberty, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Liberty's expectations are: exploration risks; commodity prices; regulatory approvals; receipt of mining permits and leases; and assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to publicly update any such statement or reflect new information or the occurrence of future events or circumstances, except where required by securities regulations. Accordingly, readers should not place undue reliance on forward-looking statements.
For further information please contact:
James A. Richardson, President & CEO
Phone (780) 485-2299 or 416-410-5297
Fax 780-485-2253
e-mail: jayr@libertymines.com
Source: Liberty Mines Inc. (TSX: LBE) http:// www.libertymines.com
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