Oct 29, 2019                                                                                                                         LBSR: OTCPK  
                                                                                                                                  http://www.LBSR.us

FOR IMMEDIATE RELEASE
It is times like these that present the most favorable conditions for seeking out opportunities to place Liberty Star (“Liberty Star” or the “Company”) in the best position to benefit from the inevitable market upturn.  2019 has been a year of international economic and political turmoil.  It appears that the level of uncertainty in the world economy and markets will continue the trend toward instability for the foreseeable future, at least relating to influential copper markets, in particular China and Chile.  While we would rather see otherwise, these conditions must be met with action, not complacency.  Liberty Star will take advantage of the opportunity by continuing improvement of our market facing prospect information and pursuing potential venture partners to move our primary project, Hay Mountain, forward into the coming boom in worldwide copper.  See, e.g. “Chaos in Chile a Game Changer for Copper & Freeport – McMoRan” (Seeking Alpha, 10.28.2019), among others.

Over the past year we have been in discussions with multiple potential development partners.  These entities represent the full range of worldwide market participants.  Some of the entities found our onerous confidentiality requirements prohibitive to continued dialogue (which will be overcome, going forward, by creating land holding security and the resulting “degree of freedom” described below).  Others, among them two of the largest copper producers in the world, examined Liberty Star and Hay Mountain in great detail and found the project very attractive.  Both of these two majors made credible overtures to the Company and, one in particular (“Prospect One”), proceeded with very productive, good faith negotiations to the point of finalizing a joint venture agreement with all terms and conditions agreed.  However, when faced with increasingly difficult domestic political and economic considerations, coupled with other internal financial priorities, all of which are a matter of public record, this prospective partner, on the cusp of contract execution, ultimately withdrew from discussions late in the year.  The other of these copper mining majors (“Prospect Two”) went as far as to acknowledge that their analysis of the Company’s geophysical, biogeochemical and available geological data “… delivered a compelling integrated model that confirms the presence of a robust drill target in the central area of Hay Mountain.”  While the withdrawal is disappointing, this process clearly vindicated the viability of Hay Mountain as an attractive exploration and development prospect on the World stage.  The discussions with Prospect One are temporarily suspended and may be revisited in the future as conditions improve.  Nonetheless, the Company continues discussions with others and to actively and diligently pursue additional opportunities.

In support of these pursuits, Liberty Star is doing three things.  First, the Company must maintain and secure access to its primary mineral holdings.  Maintenance of current holdings demands performance of over $155,000 in annual assessment work, or cash payment of the assessment value.  Of course, it is far more beneficial to perform assessment work that adds to knowledge of the mineral content of our properties than to simply make cash assessment outlays.  That is why the Company replaced the obsolete and failing Niton XRF instrument with a new, more functional model to continue surface geochemical surveys in conjunction with additional biogeochemical sampling.  These efforts satisfied our $36,000 assessment obligation on the North Hay Mountain block for 2019, with some residual carry-forward that will be applied to next year’s obligation.  This instrument will be essential to the Company’s ability to continue its annual assessment obligations going forward.

Second, because the Company’s mineral holdings prior to the recent application for additional State of Arizona lands, were merely co-extensive with the geophysical/geochemical signature central to Hay Mountain, the Company placed a secure zone surrounding the primary prospect to assure needed flexibility for future development.  This added mineral tenure security, most importantly related to immediate flexibility, also frees us to disclose much greater detail about the Hay Mountain prospect without fear of becoming stranded on a landlocked island of mineral holdings severely limiting the Company’s capacity to develop them without having to buy-out opportunistic neighbors for surface access.  See my response to this issue in the blog post located at Agoracom.com (10.23.2019)  for a more fulsome discussion.

Given this added degree of freedom with data disclosure, the Company has contracted with Geotech Ltd. to complete 3d inversions of all our current ZTEM and magnetic data (see update 907, 09.30.2019].  Further, this data will be integrated into a combined geophysical, geochemical and geological three-dimensional model of the form described by Prospect Two above to more clearly elucidate the presence of what the Company, and others, believe is a world class copper porphyry.  This 3D integrated model will be available on the Company website when completed.  This is expected within the coming month.

Finally, bringing a project the size and complexity of what the Company believes Hay Mountain to be to the marketplace, then into production, requires many very well developed and diverse skills.  It is extremely unusual to find one person in possession of such capabilities.  That is why I have sought, and continue to seek, professionals of the highest caliber in the broad spectrum of talents required for such an endeavor.  The Company added Mr. Boyd Gordon to the Board on July 19th (see News Release 215).  Mr. Gordon is an highly qualified finance professional with experience at the highest levels of institutional project finance.  Later, on October 14th Mr. Barney Guarnera joined the Board (see News Release 217).  Mr. Guarnera brings to the Company experience in the fields of geology, mine valuation and development that is recognized and sought after throughout the international mining industry.  Additionally, the Company is currently in negotiations with the former International Exploration Manager for one of the top ten copper producers in the world.  When consummated, which is expected within the next two weeks, this relationship will bring with it an unparalleled familiarity with worldwide copper producing market participants and contacts.  We look forward to leveraging this wealth of knowledge and expertise to the benefit of the Company and its shareholders.

With best regards,
Brett I. Gross
President/CEO
Liberty Star Minerals

Forward Looking Statements           Some statements in this release may be “forward-looking statements” for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Company’s Annual Report on Form 10-K for the year ended January 31, 2019, as updated from time to time in our filings with the Securities and Exchange Commission. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services.  RISK FACTORS FOR OUR COMPANY ARE SET OUT IN OUR 10-K AND OTHER PERIODIC FILINGS WITH THE SEC ON EDGAR (ref. Liberty Star Uranium & Metals, Corp.).

RISK FACTORS FOR OUR COMPANY ARE STATED IN OUR 10-K & OTHER PERIODIC FILINGS WITH THE SEC ON EDGAR

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Contact:
Liberty Star Minerals
Tracy Myers
520-425-1433
Investor Relations
info@lbsr.us

Update 911