EDMONTON, ALBERTA--(Marketwire - Nov. 11, 2008) - Liberty Mines Inc. ("Liberty or the Company")(TSX:LBE) announces that its Board of Directors ("Board") has appointed a Special Committee composed of independent directors of the Board to consider strategic alternatives. The Special Committee will be chaired by Donald Schurman, Liberty Mines' Director and Chairman of the Board.

The Special Committee has engaged Desjardins Securities (the "Advisor") to act as financial and strategic advisor. The Special Committee and Desjardins are exploring strategic options for Liberty that include, among other things: changes to its capital structure; a possible sale or merger; or another business combination.

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.

CAUTIONARY STATEMENT

This News Release includes certain "forward looking statements". All statements other than statements of historical fact in this release, including without limitation, statements regarding potential mineralization and reserves, exploration results, and 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, assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators.

FOR FURTHER INFORMATION PLEASE CONTACT:

Liberty Mines Inc.
Dr. Gary Nash, PhD (Physics)
President & CEO
(416) 238-9736
(780) 437-7898 (FAX)
Email: gnash@libertymines.com


No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Source: CCN Matthews (November 11, 2008 - 8:31 AM EST)

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