Reno, NV, June 27, 2014 (GLOBE NEWSWIRE) -- First Liberty Power Corp. (FLPC: OTCPK), a diversified exploration, development and mining company focused on accumulating and developing strategic mineral resources for America's future, has increased its ownership interest to a full 50% in the Fencemaker project and Central Nevada mill, as well as secured a 50% interest in five additional prospective antimony properties (direct ownership of unpatented claims) in Pershing County, Nevada.
First Liberty Power CEO Don Nicholson detailed the evolution of the property advancements. "On August 22, 2012, we entered into a share purchase agreement with Group8 Mining Innovations ("G8MI") and its then wholly-owned subsidiary, Group8 Minerals ("G8 Minerals"), providing First Liberty with a 40.5% interest in the development of a Stibnite (Antimony) property known as Fencemaker, together with the milling project. Based on our belief in the geological prospects of Fencemaker, the merits of an antimony-centric / centralized milling program, and the benefits of securing additional potential antimony ore supply at a nominal cost, the Company has entered into a subsequent share purchase agreement with G8MI and Group8 Minerals that has increased First Liberty Power's ownership of Group8 Minerals to 100%. This results in FLPC having a direct 50% interest in the Company's three core strategic assets of the Fencemaker mine, the centralized milling program and additional potential properties".
Available information on the history, prospects and potential of each property will be added to the Company website. According to CEO Nicholson, while resources are not immediately available to fully develop each of these new properties, they are a core component of the Company's mid to long term strategy to secure now key antimony properties in the Nevada region. "First Liberty has demonstrated to the investor community that management, and its partners, can take an old historical mine, remediate it, and bring it into initial operation with very limited funds", Nicholson said. "Through this year, we intend to replicate this smaller scale but highly efficient model, to fulfill the vision of opening a milling operation that will process ore into to a higher and much more valuable concentrate."
First Liberty Power will continue to use Pathways of Progress announcements to inform and update all interested parties of advancements in Company mining and financial operations.
ABOUT FIRST LIBERTY POWER CORPORATION (OTCQB: FLPC): First Liberty Power Corporation is a diversified exploration, development and mining company focused on bringing to market strategic minerals for America's Future. First Liberty Power's corporate philosophy is founded on a methodology of open and transparent procedures designed to drive the company's exploration, development and mining operations, while ensuring safety, environmental integrity, and good governance. Included in that philosophy is Pathways of Progress (POP), a platform used to inform shareholders, investors and mining partners of FLPC news and advancements through open and transparent communication. First Liberty is focused on exploring, accumulating and developing antimony and other strategic metal projects and properties.
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.
Source:First Liberty Power Corporation