Las Vegas, NV, Nov. 14, 2013 (GLOBE NEWSWIRE) -- First Liberty Power Corp. (OTCQB: FLPC), an innovative and diversified mine exploration, development and mining company focused on supplying strategic minerals for America's future, announced the filing of their Annual Report on Form 10-K ("Annual Report") with the SEC for the year ending July 31, 2013.
According to First Liberty Power CEO Don Nicholson, the Annual Report reflects the progress made by the Company in implementing its operational plans. "One of First Liberty Power's primary objectives for 2012-2013 was to transition from exploration to production, and the foundation for this objective was laid in the fiscal year covered by our recent 10-K. The objective itself was achieved with the commencement of mining at Fencemaker in October of this year," Nicholson said. "The significant investment required to achieve this is reflected in our annual report, as was our prioritization of Fencemaker over other equally important properties. However, we strongly believe that this push to production was warranted, and will be the catalyst for First Liberty becoming a major contributor to the domestic supply of strategic minerals."
First Liberty Power CFO Mario Beckles, commented, "What this annual report clearly illustrates is that we have taken the steps to have revenue in place for this current fiscal year, thereby assisting the company in the development and expansion of its existing and planned projects. The 10-K also confirms that the cash utilization by the company has been highly effective relative to the progress made, and that company expenditures have been predominantly focused on operational outcomes."
Mr. Nicholson further stated that the Company will be providing more details on the specific production progress made on the Fencemaker property over the coming weeks. "We have a strong management team in place and key strategic partners contributing greatly towards our success, as well as industry and investor momentum based on our status as the only antimony mine currently operating in America. With these strategic factors in place, the outlook is for First Liberty Power to make significant progress in the upcoming fiscal year."
FLPC will continue to use Pathways of Progress announcements to inform and update all interested parties of advancements in our mining and financial operations.
ABOUT FIRST LIBERTY POWER CORPORATION (OTCQB: FLPC): First Liberty Power Corporation is an innovative and diversified exploration, development and mining company focused on bringing to market strategic minerals for America's Future. The First Liberty corporate philosophy is driven by a dedication to the Pathways of Progress (POP) program. This is a program of best corporate practices designed to drive the company's exploration, development and mining operations, benefitting First Liberty shareholders, investors and mining partners, in addition to ensuring safety, environmental integrity, and good governance. Presently, First Liberty has interests in four properties: the Fencemaker antimony project in Nevada, the Lida Valley and Smoky Valley lithium brine projects in Nevada, and the San Juan vanadium/uranium project in Utah.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future plans of the company, the prospects for our mineral properties, and our ability to raise necessary working capital. Actual results could differ from those projected in any forward-looking statements due to numerous factors, including the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the SEC.
CONTACT: For more information contact: Robert Reynolds (800) 709-1196 firstname.lastname@example.org
Source:First Liberty Power Corporation