Las Vegas, NV, Oct. 24, 2014 (GLOBE NEWSWIRE) -- First Liberty Power Corp. (OTC: FLPC), a diversified exploration, development and junior mining company focused on providing strategic minerals for America's future, today confirmed the completion of the Company's partnership with Coronet Metals Inc. ("Coronet") for operations at the Liberty Precious Metals Processing Facility (Liberty Mill).
In detailing the terms of the new enterprise, First Liberty Power CEO Don Nicholson noted the immediate and emerging operational impact. "After completing the final legal and due-diligence components for this transaction, we have now positioned the Company to efficiently advance to the next strategic phase of the Company's mineral production plan. This executed Share Purchase Agreement (SPA) provides First Liberty with a 50% ownership interest in Coronet Metals US Inc. ("Coronet USA"), which includes the Liberty Mill operations. Last week, the Board of Directors inspected the Liberty Mill and confirmed management's analysis of the benefits of having a near-term means of processing future ore or concentrates from the Company's mineral properties and also tolling opportunities that could be available to provide additional revenue opportunities."
Coronet USA, co-managed by FLPC and Coronet Metals together with an experienced and skilled local operations team, will coordinate the overall refining of ore as well as the marketing of the operation to other third party mining businesses. The combined efforts of all parties is expected to bring positive results to the Liberty Mill and maximize the capacity and capabilities of this modern mill. Further details on opportunities and mineral processing options will be provided as analysis and operations evolve.
First Liberty Power will continue to use Pathways of Progress announcements to make public Company information and operational advancements.
ABOUT FIRST LIBERTY POWER CORPORATION (OTC: FLPC): First Liberty Power Corporation is a diversified exploration, development and junior mining company focused on providing strategic minerals for America's future. First Liberty Power is founded on a methodology designed to drive exploration and development of the Company's mining and processing operations. The Company's objective is to bring minerals to market while always ensuring employee safety, environmental integrity and corporate good governance. FLPC's corporate philosophy is fully evidenced in their Pathways of Progress (POP) program, an open and transparent communication platform used to inform shareholders, investors and mining partners of Company news and advancements. First Liberty Power's current mineral portfolio includes antimony, gold 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