Feb. 10, 2011 (Filing Services Canada) -- Liberty Mines Inc. (LBE - TSX), is pleased to announce recent advances on the Hart Project located approximately 27 kilometres southeast of the city of Timmins Ontario and 6 kilometres from Liberty's fully permitted and operating 1500 TPD mill. The company reports that, under approval of the Ministry of Northern Development, Mines and Forestry, the Hart claims have been brought to lease. This is an important advance in the compliance process which satisfies one of the regulatory steps to allow Liberty Mines to commence mining activities on the Hart property. Other required steps include the environmental permitting and consultation with representatives of groups having aboriginal rights, which are under way.
"Bringing the Hart claims to lease represents a significant milestone towards development and mining of the Hart deposit" commented CEO Jay Richardson. "With the environmental permitting process well under way as well as ongoing dialogue with First Nations and Metis representatives, the Hart Nickel project is well on schedule to commence mining activities in 2012."
Liberty Mines Inc. confirms that the company is strongly focussed and committed to further exploration initiatives beyond this as it is an integral part of our overall strategic plan for 2011 and beyond and is pleased to announce that it will be issuing a further press release in the near future detailing its exploration program for 2011.
Currently, company engineers and geologists are evaluating the Hart Nickel deposit internally to determine the most cost effective mining methodology suitable for this deposit. A PEA (Preliminary Economic Assessment) by SRK Consulting Inc. completed in February 2010, determined an indicated resource of 1,546,000 tonnes at an average grade of 1.40% Nickel and an inferred resource of 322,000 tonnes at an average grade of 1.40% Nickel.
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. regulation 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 Fax 780-485-2253
e-mail: jayr@libertymines.com
Source: Liberty Mines Inc. (TSX: LBE) http:// www.libertymines.com
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