TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is pleased to announce a very positive response to the meeting and presentation of the Company’s wholly owned Hay Mountain Project by Liberty Star President James A. Briscoe and Director Brett Gross in Manila, Philippines. Mr. Briscoe offers his assessment of the presentation and meeting conducted March 2-3 in Manila:
“We presented the Hay Mountain Project in great detail to a group of 16 long experienced mining professionals and potential investors in downtown Manila, Philippines on Monday. The response was very positive to both the geologic details and the business proposition presented by Director Gross. The company has been in almost constant communication since the presentation, and we believe substantial and important progress is being made toward financing of Phase 1, which will then lead to Phase 2 in the following year.
“Preparation for the meeting took place on Sunday, March 1, 2015, as some of the participants arrived a day early and were staying at the same hotel we were presenting in. The prerequisite to attend the meeting was signing a binding legal non-disclosure and non-compete (ND/NC) agreement. This task had been completed by several of the early attendees, so they were able to partake in generalities about Hay Mountain. The following morning work started at 7 a.m. in obtaining signatures from the rest of the attendees, several of whom had traveled great distances to attend. Once all the ND/NC documents were signed, the meeting started on time at 9 a.m.
“I presented first, reviewing detailed geologic, geochemical, geophysical details and interpretation of the detailed and various studies that have been conducted over the last four years. At the end of about 2.5 hours, we took a short break and then Brett Gross presented the business plan, and ongoing questions and comments were answered and discussed, on both presentations.
“Significant interest continues after the Manila meeting. Four mining experts are expected to travel to Tucson, where a thorough tour will be arranged, which will take an expected three to four days, to examine local large mines that are similar to what is expected at depth at Hay Mountain. The tour will be conducted as soon as travel visas can be arranged. We believe that because of their background they will be as impressed with the potential as we are. Of course success cannot be assured, but this a very strong starting point.
“Other interested parties of significant stature are currently discussing a starting point, which is our stringent ND/NC document. We hope that we can continue meaningful negotiations with them as well.
“Considering the low point in the copper cycle, it is encouraging that we are getting such substantial response, and I look forward to the potential that Phase 1 will be financed soon.”
“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: that the meetings in Manila, Philippines were substantial and that important progress is being made toward financing of Phase 1, which will then lead to Phase 2 in the following year. 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. 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.
