Liberty Star Uranium & Metals Corp.

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Message: RE: Outstanding Inquiries

Dear shareholders,

 

Management is pleased to provide a response to outstanding inquiries below.

 

Question:

Based on your current relations with working capital financiers, at what point in the pps will they stop funding your requests because liquidity has gone nominal?

View the message: http://agoracom.com/ir/libertystar/messages/2210133

Answer from Jim Briscoe:

“We don’t know, and we can’t know, as each company has their own confidential parameters which change with a kaleidoscope of conditions, past interactions, connections etc. The LSUM Board and I are working hard to raise additional capital and it is beginning to work.  Shares are still trading throughout this volatile market, which we regard as a positive.”

Question:

Please ask LBSR if these new claims just became available because they were previously held or just now became feasible to acquire. Thank You

View the message: http://agoracom.com/ir/libertystar/messages/2209818

Answer from Jim Briscoe:

“These claims were last held by Tombstone Exploration, and then abandoned for a variety of reasons as they and their partners mismanaged financial obligations and moved on to different goals. The claims were in a bureaucratic limbo for the last five years and as they came available, we acquired --l all the State MEPs that formerly comprised Tombstone Exploration’s Zebra Project. 

Over the decades of my career I have accumulated a massive data base of mining exploration information including maps: more than 6,400 US Geological Survey published maps and maps of other companies which are sometimes given to me.  These data comprise more than 700 linear feet of bookshelf, and 12 steel map files holding thousands of maps not including other thousands of scanned documents including that exist in secure cloud backup.  These data cover almost all elements which may potentially become economic mostly over the SW USA but some other countries as well. As things change over the decades I react appropriately, for the good of Liberty Star Shareholders, our employees, and my family.  I am aware of the potential of that area because at one point a very large company held what is now Liberty Star’s new Mineral Exploration Permits (MEPs) area and passed the data on to me and JABA, which then held those claims and generated more data.  We do not believe Tombstone Exploration was ever privy to any of this data. We also have access to technical reports generated and made public by them.

This piece of land is a real prize and I’ve wanted it back as part of the Hay Mountain Project for years. We will work on it in due course, as right now our Target One is in a different area, but nearby. They are both part and contiguous to each other of the very large Hay Mountain porphyry system which appears at this time to be 8 miles long and 6 miles wide, making it larger than our plots of Bingham Canyon, Utah as plotted in a MS Thesis I supported by a fellow from Europe, or Morenci, Arizona, from my personal files. 

Porphyry copper deposits also contain Carlin type gold deposits generally on their outer margin, which can be quite rich.  Because of a personal relationship, I and several other ASARCO geologists were one of the first, or perhaps the first non-Newmont geologists, to see the new and then small open pit at Carlin NV. I took home a piece of ore that was running +1 oz gold.  It sits in my special rock collection today.  It looks to be unmineralized – and that is why Carlin deposits are hard to find.  It was a significant number of years before the 2nd Carlin style deposit was discovered despite significantly large geochemical programs which were mounted near to the Carlin open pit. Even the Mercur mine within the Bingham Canyon, Utah outer alteration was a Carlin Style long before the name was coined. It contained mercury as well as gold.

It is critical for shareholders to understand the depth of my personal experience and data resources, which I have been and will continue to use for the betterment of Liberty Star.

It is worth noting that at one time or another over the last 30 years, I through various companies as well as my own entities, recommended or held leases on in this area:

·         Rosemont Copper - my “partners” stood in the way of making a bid on it even though the public data package I and another experienced geologist thoroughly examined, suggested there was more than $1 billion of profitable copper drilled out. 

·         Hermosa Project - what is now the Hermosa (my name for it too) project held by Wildcat Silver, which became then Arizona Mining, which was - purchased by South 32 a few months ago from all the various holders for $1.3 billion dollars.   Forty years ago, I located a large block of claims and a diamond drill hole, for good but subtle geologic reasons in the same location that Wildcat Silver placed their discovery drill hole. My investors lost their courage when the drill was at 600 feet and there was a minor hole cave-in, easily fixed.  They ran back to Vancouver, tail between legs. The lesson here is this business is not for the faint hearted. 

·         Johnson Camp: I held an option on the extension of the Johnson Camp mine which was called the I-10 porphyry since the early 1970s, which is now known as the Excelsior or Gunnison Hills In Situ Leach Project. They are nearing their final permit for operation.  The owner I dealt with (long before Excelsior) tried to defraud me (JABA) by omitting negative data from the data package he submitted, and we sued him.  We settled out of court.  Excelsior has developed in situ technology which their testing suggests the green copper carbonate can be leached independently of the surrounding limestone. If they are successful this technique may be applicable to the near surface oxide copper component, which overlies what we believe will be a very thick layer of massive copper replacement of reactive sediments (skarn) with gold, silver, lead, zinc, cobalt, manganese, uranium, rare earth elements (REEs) and other potential byproduct metals which are all normal components of porphyry copper deposits.  This form of skarn mineralization was first seen at Bisbee Arizona, which for about 75 years produced high grade copper with gold and many of the associated metals from skarn replacement deposits.

THIS DISCUSSISION WILL BE CONTINUED IN A FEW DAYS, FOR MORE DETAILS ON OTHER NEAR BY TARGETS - Jim Briscoe

 

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