NR 112 – Liberty Star Receives Completed Technical Report on Tombstone South Exploration Area from SRK Consulting

TUCSON, Ariz.–October 12, 2011–Liberty Star Uranium & Metals Corp. (the “Company”) (OTCBB: LBSR) is pleased to announce that CEO James Briscoe has received SRK Consulting’s(“SRK”) NI 43-101 style technical report (The “Report”) covering the Company’s Tombstone South exploration area within the Tombstone Porphyry-Precious Metals Project.

The Report is signed by SRK Registered Geologists and Qualified Persons, Dr. Jan Rasmussen and Corolla Hoag and is the third report commissioned by Liberty Star covering its Tombstone Porphyry-Precious Metals Project. All three Reports, Tombstone South, Walnut Creek and Hay Mountain, include geologic data that have been collected and interpreted over several decades starting in 1972 by Liberty’s CEO and Registered Professional Geologist James A. Briscoe, as well as numerous published and unpublished reports going back to the discovery of the district in 1877 (see the Company’s NR 110, Sept 27th and NR 111, Oct 4), as well as numerous published and unpublished reports going back to the discovery of the district in 1877.

This Report presents Tombstone South as another zone within the Tombstone Mining District ready for further mineral exploration. Based on geologic, geophysical and geochemical characteristics as well as other similarities to operating porphyry copper mines in the region, potentially significantly high grades of copper, moly, gold, silver, lead, zinc and other by-product metals are inferred. Liberty Star’s mineral targets reside within or adjacent to a large volcanic and intrusive geologic feature known as a caldera. These caldera structures are present throughout southern Arizona, making the region one of the richest porphyry copper areas in the world. The Tombstone caldera, identified by Briscoe and verified by the US Geological Survey (USGS), of which these mineral targets are related but outside of the caldera, also hosts commercially significant gold and silver deposits, and a deep porphyry copper system drilled in 1973 but as yet unmined.

SRK’s Technical Report (in brief) recommends: A. Conduct rock, soil and biogeochemical surveys over the target area. Biogeochemical sampling over other properties in Nevada, Arizona and Alaska has been shown to reveal upward moving metallic elements from depths of 1,500 feet to 4,000 feet through unmineralized cover rock. B. Conduct ZTEM helicopter borne electromagnetic surveys which have the capability to model porphyry copper systems to a depth of 6,000 feet. and C. Conduct diamond core drilling that will test targets developed by A and B.

Comments James Briscoe: “I have known about and studied the Tombstone area for decades, but with prices for metals at historic high levels the time to move aggressively forward is now. The SRK independent geologists have worked throughout the last year to prepare three comprehensive reports about Tombstone and the Company’s exploration targets. Reports of this size and scope have never been prepared on the district before. The reports cover every aspect of the district known from its discovery in 1877 up to the present time. The three reports comprise some 447 pages and include 161 references of published and private reports covering or related to the Tombstone mining district. These data have been thoroughly distilled into pertinent exploration recommendations. We now have a series of clear plans on where and how to progress in a systematic efficient exploration program that will effectively test this very large but poorly explored district. We are starting immediately to follow through on their exploration recommendations. We will undertake and report exploration activities as soon as possible. I consider our current claim blocks among the best places to explore, but believe additional targets will be revealed as we complete geochemical field work and helicopter borne ZTEM geophysical work.”

“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty Star Uranium & Metals Corp.

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 potentially significantly high grades of copper, moly, gold, silver, lead, zinc and other by-product metals are inferred on our property which hosts commercially significant gold and silver deposits, as well as a deep porphyry copper system.

Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data; we may not locate or agree to terms with potential partners for their incurring of exploration costs, we may not be able to get equipment or labor as we need it; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company’s recent 10-KSB and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.

Contacts

Liberty Star Uranium & Metals Corp.
Tracy Myers, 520-425-1433 or 520-731-8786

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