TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (OTCBB: LBSU) (the “Company”)
and XState Resources (“XState”)
of Australia (XST: AX) have decided to change the JV Agreement on the
North Pipes Super Project exploration properties. James A. Briscoe, the
Company’s CEO, and David MacArthur, XState’s
CEO, have agreed that XState will maintain a 50% interest in three
uranium exploration targets at North Pipes. The three areas can be
chosen from all the targets over which exploration has been conducted by
the joint venture in the last 18 months.
Both parties agree to enter into a formal 50/50 contributing joint
venture in relation to the three targets chosen by XState. The previous “earn–in”
agreement is terminated. The Company retains former JV funds to complete
minor rehabilitation on exploration sites and conclude administrative
tasks.
The Company has maintained its land position on the Arizona Strip and
will continue to pursue additional joint venture partnerships or
favorable alternative relationships to explore their breccia pipe
targets for uranium and other metals.
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 exploration projects in Alaska for copper, gold,
silver and moly (Big Chunk Super Project, Bonanza Hills Project), in
Nevada for gold and silver, (Providence Project), in northern Arizona
for uranium and other metals (North Pipes Super Project), and in
southern Arizona for porphyry copper and other metals (Tombstone Copper
Center and East Silver Bell Project). Information on these projects can
be found at Liberty Star’s extensive web site http://www.libertystaruranium.com/.
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 both parties agree to enter into a formal 50/50
contributing joint venture in relation to the three targets chosen by
XState; and that we will continue to pursue addition joint venture
partnerships or favorable alternative relationships to explore their
breccia pipe targets for uranium and other metals. It is important to
note that the Company’s actual outcomes may
differ materially from those statements contained in this news release.
Factors which may delay or prevent these forward-looking statements from
being realized include misinterpretation of data; we may not agree to
terms with partners or potential partners, 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.