NR 72 – Liberty Star Changes Direction in Alaska – Seeks Major Partner in Porphyry Copper-Gold-Moly Targets

TUCSON, Ariz.–March 26, 2008–Liberty Star Uranium & Metals Corp. (the “Company”) (OTCBB: LBSU – News) is pleased to announce that there have been many positive changes in the mineral property surrounding the Company’s extensive holdings adjacent to the Pebble mineral deposit at the Big Chunk project over the last year and as recently as about one month ago. Therefore the Company will begin immediately to seek joint venture partners from the international community of global mining companies to fully explore our extensive property for Porphyry copper-gold-moly deposits and for disseminated volcanic hosted gold deposits. Our extensive technical studies show anomalies related to potential for both these types of deposits on our land (NR 35).

Four major GLOBAL mining companies are now associated with the area and more than a billion dollars are slated for rapid development of the Northern Dynasty Mines (NDM) Pebble Porphyry copper-gold-moly deposit. Liberty Star controls about 177 square miles (the only non-joint ventured land) in a block covering almost a thousand square miles of mineral claims. The Company’s southern border of its northeastern arm abuts NDM land and is about two miles north of the Pebble mineral deposit (see map). Extensive technical studies by the Company show the mega structures the Company believes are responsible for all mineralization in the area including the Pebble. There are numerous anomalies, of various types generally associated with such mineralization, on Liberty Star land including drill targets just north of our common boundary with NDM. For scientific reasons the Company believes it possesses the best exploration land available, outside the NDM property, which is why the Company acquired it in December 2003.

About a year ago the Company put its Alaska project on hold until environmental challenges had been resolved, and results proved worth management’s time, effort and expenditures. Since that time four major companies have moved into the area taking up positions on all land surrounding the Company’s Big Chunk claims. These companies include Rio Tinto, 19.8% owner of Northern Dynasty as announced January 30, 2007. Anglo American announced on August 1, 2007 that they would buy into a 50:50 partnership on the Pebble Project with Northern Dynasty by contributing up to $1.43 billion towards engineering, permitting and construction of the Pebble mine. Anglo and NDM state that Pebble is becoming the largest Porphyry copper-gold-moly resource in the world with about 4 billion tons of mineralized rock averaging 1.32% copper equivalent grade; that pre-feasibility studies are expected by December 2008, a feasibility study by 2011 and commencement of commercial production by 2015, according to the NDM news release Monday, = February 25, 2008. NDM continues drilling with mineralization open at depth, to the south and to the north. Further, Japan’s Mitsubishi invested in NDM and owns 9.1% as of their announcement February 14, 2008. Adjacent to the outer boundaries of the NDM claims and in the center of the NDM and Liberty Star property over the resurgent dome of the Big Chunk Caldera, Freeport McMoRan has optioned lands belonging to Full Metal Minerals (see map).

The five mining companies including NDM, Rio Tinto, Anglo American, Mitsubishi and Freeport McMoRan control all the land. The only non-joint ventured land is that belonging to Liberty Star – which occupies the continuation of the caldera moat structure which the Company believes localizes the more than five mineral centers including the Pebble deposit on NDM land (NR 35). The company performed extensive and extremely detailed aeromagnetic surveys over the entire land area including about 1,400 square miles (NR 2), performed and compiled extensive geophysics (IP) and collected 11000 geochemical samples analyzed for 63 elements over all of the caldera including all lands (NR 11). Thirty-one diamond core holes were drilled, many wi

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