All Liberty Star Projects Update: Land Payments, Field Work and Financing

TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is pleased to update shareholders and interested parties on the Company’s projects in Arizona and Alaska.

Property payments

Property payments on all Company federal lands have been paid for 2014-2015. Other payments are up to date.

1.	All Bureau of Land Management federal lode mining claim payments for properties located in Arizona have been made before noon September 1, 2014. This includes Cochise County (Tombstone Super Project), Pima County (East Silver Bell Porphyry Copper Project), and Mohave and Coconino Counties (North Pipes Super Project).
2.	Alaska mineral claims comprising Liberty Star’s Big Chunk Super Project have been accounted for with the State of Alaska Department of Natural Resources Division of Mining. All Alaska State mining claim assessment has been paid as of noon or before September 1, 2014. Rental fees have not been paid and are not due until November 30, 2014.
3.	Arizona State Mineral Exploration Permits (MEPs) have had all assessment work declared on them and all rental fees paid in a timely fashion. These declarations and payments are due one year from the date of award of the MEPs. Because the MEPs were awarded on different dates, the assessment and rental fees are due at different times.

Ongoing geologic, geophysical and GIS work at Hay Mountain

1.	New outcrops have been discovered in the main porphyry copper alteration zone target within the geochemical and geophysical zone that did not appear on any current geologic maps. Additional geologic work is ongoing to define the location and alteration of these outcrops which so far consist of silicification and brecciated (broken) silicified limestone with leached capping. Green copper oxide (chrysocolla) was identified in a very small area, but this is the first visible copper mineralization we have seen in the project surface area to date. All the copper and other metal anomalies are from trace element geochemistry and do not outcrop but are from depth where they are not visible and able to be detected except geochemically. The alteration seen recently in newly identified low outcrops is what would be expected on the edge of a skarn hosted porphyry system.
2.	Geographic information systems – computer maps (GIS) are continually updated and refined.
	a.	We are using methods (ZTEM - EM & MAG - plus geochem - soil & vegetation) that predict what we may encounter and at what depth. East/West cross-sections of the magnetic and electromagnetic geophysical data are plotted along the path of the ZTEM helicopter survey lines. These survey lines are 200 m (660 feet) apart, within the main target area, and the geophysical data has been collected along them at very short intervals: about 9 feet for the magnetic readings, resulting in many thousands of data points. This processed data has been plotted with 2-D and 3-D inversions so that they more closely resemble geologic features with which they are interacting. These data have been plotted to scale along with drill holes along with daughter holes down to 5000 feet.
	b.	All proposed drill holes (mother holes) have now been plotted and these number 51 (+8 daughter holes for each mother hole which can be selectively drilled if warranted). We have great latitude in where the daughter holes may be kicked off from the mother hole giving us the ability to preferentially intersect geophysical – geologic targets once these are refined by initial drilling. This gives us almost infinite ability to intersect any target both vertically and sub-horizontally at low cost. The Company can save several millions of dollars using this approach in comparison to drilling either vertical or angle holes.
	c.	The geochemical data has been projected vertically down on the GIS cross sections and also superimposed on the geophysical data so that we may plan our drilling specifically related to both multi-element geochemistry and geophysics.
	d.	The plotting of the drill grid on a 400 m (1,320 feet) square pattern in the main target is now complete. We have also marked the hole locations with labeled, 2” x 2” x 5’ long wood posts so that the drillers can go easily from drill hole to drill hole as directed. No roads will be used but instead paths for rubber tracked equipment will be used, as previously explained in News Release 187 (8/12/2014). In our Exploration Plan of Operation submitted to the Arizona State Land Department (ASLD), we proposed rubber track paths using a course of least resistance so no mechanical bulldozing or road building would be used. The ASLD has agreed to it, but has required that the paths be surveyed by a Registered Professional Archaeologist. Antigua Archaeology LLC, with whom we have worked for years, has been contracted for this purpose, and they expect to be done in a week to 2 weeks, pending unusual rainy weather. Our prime target appears to be an area of low aboriginal activity (pre-Columbian Indians) because, as Jim Moses head archaeologist opined, the lands surrounding the target area were a less desirable area for permanent habitation, farming or any other activity. His initial conclusion is that the target area was not inhabited as there were more attractive areas to live. Thus we believe few if any artifacts will be located, as was the case in previously surveyed proposed roads and geochemical lines in this area.
	e.	Liberty Star should have drilling permits for the Phase 1 drilling project (the 1^st year) within approximately two months and to be ready to drill as soon as funding is in place and equipment can be mobilized to the site by our drill contractor.

Potential Funding

We are continuing to talk with and add to our list of potential funders for The Hay Mountain Project.

1.	A scheduled tour of the Hay Mountain area by qualified potential investors for the last week of September has been rescheduled to mid/late October due to the illness of one of the visitors.
2.	We currently have in excess of 10 interested parties and we expect that list to grow.
3.	Numerous mutual Non-Disclosure Agreements are in process.
4.	A Naru Capital sponsored road show to the Far East is expected in November with stops in Hong Kong and perhaps Japan, and South Korea. (NR 188)
	a.	In collaboration with naseba/Naru Capital we expect to do additional presentations via GoToMeeting® at other foreign locations. GoToMeeting® video conferencing allows us to connect with up to 25 computers at a time almost any place in the world.
	b.	All meetings will continue to maintain the naseba/Naru protocol of identifying motivated investors with capital resources that give them the ability to fund phase 1 drilling and beyond in this large multi-staged project.
5.	Other presentations have been made outside of the naseba agreement via GoToMeeting®.
6.	We continue to work toward finalizing an agreement on the North Pipes Uranium project.
7.	We have positive indications from our East Silver Bell potential JV, and we are working toward that agreement as well.

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

Forward-Looking Statements

Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include our plans regarding Hay Mountain, our potential to save money through the planned exploration techniques, potential funding of Liberty Star’s Hay Mountain Project and that we may sign agreements soon on our North Pipes and East Silver Bell projects.

Factors which may delay or prevent these forward-looking statements from being realized include: our inability to agree with a potential investor on terms of their participation in the Hay Mountain Project or any project; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; an inability to continue exploration due to weather, logistical problems or hazards even if funds are available. We may not be able to reach agreement with other parties to explore or develop any of our properties. Despite encouraging data, there may be no commercial minerals in our projects. Readers should refer to the risk disclosures in the Company’s recent 10-K and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.