Tucson, Arizona – June 9, 2008 – Liberty Star Uranium & Metals Corp. (the “Company”) is pleased to announce that it has entered into discussions with at least one potential joint venture partner on the Providence Project area, which, based on previous geological work, has inferred disseminated gold resources of as much as 300,000 ounces.
The Company announced April 29, 2008 (NR 74) that it had leased, with the option to purchase, three properties from JABA US Inc., including the Providence Patented Mining Claim in the Beatty Bullfrog Mining District, Nye County Nevada. The Company and other interested parties are in discussion to consolidate contiguous claims into one project area to be known as the Providence Project. All involved in the discussions agree that the terrain has the potential to be mined on a relatively accelerated timeline.
As reported on April 29th, the Company’s land lies on and forms the northwestern pit wall of the Montgomery-Shoshone (M-S) open pit, last mined in the1990’s by Barrick Bull Frog Mining Company a subsidiary of Barrick Gold Corp. and others for disseminated gold and silver. A parallel mineral system continuous from the M-S open pit on the Providence Project has yet to be drill tested for disseminated precious metal mineralization.
The Company notes with interest the recently announced news that Sterlite Industries of India has agreed to purchase Arizona based copper mining company Asarco LLC for $2.6 billion dollars. The Company’s East Silver Bell Porphyry Copper Project (part of the option to purchase agreement announced in NR 74) is directly adjacent to patented (private) land owned by Asarco in southern Arizona’s Silver Bell Mining District, near Tucson, Arizona.
ON BEHALF OF THE BOARD OF DIRECTORS
“James A. Briscoe”
James A. Briscoe,
President/Director
About Liberty Star’s Mineral Exploration Projects
Liberty Star Uranium & Metals Corp. is a mineral exploration company currently engaged in an ongoing drilling program 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.
SAFE HARBOR STATEMENT
Statements in this news release that are not historical are forward-looking statements. Forward looking statement in this news release include that we can enter into agreements with other parties, consolidate contiguous claims into one project area to be known as the Providence Project; and that the terrain has the potential to be mined on a relatively accelerated timeline. It is important to note that the Company’s actual outcomes may differ materially from those statements contained in this press release. Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data; that we may not be able to get the other potential partner interested in joint venturing exploration of our properties; we may not be able to get equipment or labor as we need it; that we may not be able to raise sufficient funds to complete our intended exploration; 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 most recent 10-KSB and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.
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Tracy Myers