(MENAFN- GlobeNewsWire - Nasdaq) TUCSON, AZ, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Liberty Star Minerals ("Liberty Star " or the "Company ") (OTCMarkets: LBSR ) is pleased to announce that on September 25, 2024 we entered into an“Equity Financing Agreement” with GHS Investments, LLC ("GHS") to raise up to $10,000,000. GHS Investments LLC is a leading private investment and management group providing financial solutions for high-potential small cap companies. GHS has successfully invested in multiple portfolio companies in the small cap space seeking capital to grow and scale their existing businesses extending into national exchanges. Liberty Star is currently conducting exploration work on its wholly owned Red Rock Canyon Gold Project (RRC) within the larger Hay Mountain Project property in southeast Arizona. The RRC may contain commercially important metals associated with porphyry copper-gold-moly geologic structures, which are well represented in the area from central Arizona to northern Mexico.
Under the Agreement, Liberty Star has“put” rights for funds that can total $10,000,000 over the 2 year's term. The company is filing an S1 Registration Statement as part of the Agreement. Terms of the Agreement are in an 8k filing viewable on EDGAR .
Liberty Star plans to use the funds to further explore its properties in Cochise County, Arizona.
Focused exploration work on the Red Rock Gold Property picked up momentum in March 2024 after Chief Geologist Jim Bryce concluded that RRC property jasperoid outcropping combined with a database describing historical findings in the area required an extensive channel sampling program. He stated“When surveyed, mapped, and sampled to industry standards, channel samples can be considered as horizontal drill holes. This detailed, surveyed sampling procedure will allow us to generate a near-surface gold resource and provide direction for future drilling on the site.” (March 5, 2024 )
Geochemical results reported to date have provided impetus to continue with the channel sampling program. Looking ahead, the Company believes 3D modeling and planning for drilling to generate a resource as gold prices reach new highs regularly mark this as an exciting and opportune time to move ahead with near surface work at the RRC.
ON BEHALF OF THE BOARD OF DIRECTORS
Liberty Star Minerals
Visit lbsr.us for more about Liberty Star Minerals, the Red Rock Canyon Gold Project & the Hay Mountain Project, including images, maps, and technical reports
About Liberty Star Liberty Star Uranium & Metals Corp. (LBSR: OTCQB), d/b/a Liberty Star Minerals is an Arizona-based mineral exploration company engaged in the acquisition, exploration, and development of mineral properties in Arizona and the southwest USA. Currently, the company controls properties that are located over what management considers some of North America's richest mineralized regions for copper, gold, silver, molybdenum (moly), and associated metals. The Company's premiere property is the Hay Mountain property (exploration stage) for porphyry copper, gold, moly, and other commercially important minerals. Specific targets have been selected to explore for near-surface and deep-seated ore bodies, of which there are numerous analogs nearby. Contiguous with the primary Hay Mountain porphyry exploration target, and part of the overall Hay Mountain property, is an increasingly attractive area of exploration stage gold mineralization denominated Red Rock Canyon. Red Rock Canyon exhibits what we believe are extensive, promising hydrothermal associated gold-bearing structures that are documented in historical public and Company records. View numerous geoscientific reports on our website . The Hay Mountain & Red Rock Canyon properties are in Cochise County (southeast) Arizona, USA.
Forward-Looking Statements Certain information contained in public release may contain“forward-looking statements,” as defined in the U.S. Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. All statements contained herein that are not historical facts are forward-looking statements that involve risks, uncertainties and other factors which are unforeseeable and beyond the Company's or management's control, which could cause actual results, developments and business decisions to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements may include but not be limited to the business strategies for the Company, assumptions of management, pending or future transactions, future estimated mineral resources or grades, investments, asset valuations, anticipated permits and approvals and other information that may be based on forecasts of future exploration, operational or financial results or estimates of matters not yet determinable. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance using words or phrases like the following may be forward-looking statements: :“estimate”,“intend”,“believe,”“expect,”“anticipate,”“plan,”“potential,”“continue”“may”,“might”,“could”,“would” or similar words or expressions. Important factors that could differ materially from the expectations of the Company and management include, among other things, risks related to unsuccessful exploration results, metals prices, fluctuations in currency prices, international markets, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as changes in the availability of funding for mineral exploration and development and general economic conditions. Additional information about these factors, risks and uncertainties on which forward-looking statements are based is discussed in the Company's Annual Report on Form 10-K for the year ended January 31, 2024, as updated from time to time in Company filings with the Securities and Exchange Commission. The Company is not responsible for updating the information contained in this public release beyond the presentation date or published date, or for changes made to this document by wire services or Internet services. Risk factors for the company are set out in the 10-K and other periodic filings made with the SEC on EDGAR (ref. Liberty Star Uranium & Metals, Corp.).
Regulation S-K 1300 Matters On October 31, 2018, the U.S. Securities and Exchange Commission adopted Subpart 1300 of Regulation S-K (“Regulation SK-1300”) to modernize the property disclosure requirements for mining registrants and related guidance, under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All registrants are required to comply with Regulation SK-1300 for fiscal years ending after January 1, 2021. Accordingly, the Company must comply with Regulation SK-1300 for its fiscal year ending January 31, 2022. Regulation SK-1300 uses the Committee for Mineral Reserves International Reporting Standards (“CRIRSCO”) based classification scheme for mineral resources and mineral reserves, which includes definitions for inferred, indicated, and measured mineral resources. Liberty Star is an“Exploration Stage Issuer” as defined in Subpart 1300. It currently has no exploration results, mineral resources, or mineral reserves to report, accordingly, no information, opinions or data included on the website or in any public releases includes any information or disclosures regarding exploration results, mineral resources or mineral reserves as defined in Regulation SK-1300. As a result, the Company is not required, at this time, to obtain or provide a Technical Report Summary as defined in Regulation SK-1300. U.S. Investors are cautioned not to rely upon or assume for any purpose that any part of the mineralized real property of the Company in these categories will ever be converted into inferred, indicated, and measured mineral resources or probable or proven mineral reserves within the meaning of Regulation S-K 1300.
UNLESS OTHERWISE EXPRESSLY STATED ON THE FACE OF ANY SUCH INFORMATION, NOTHING CONTAINED IN THIS PUBLIC RELEASE IS, NOR DOES IT PURPORT TO BE, A TECHNICAL REPORT SUMMARY PREPARED BY A QUALIFIED PERSON PURSUANT TO AND IN ACCORDANCE WITH THE REQUIREMENTS OF SUBPART 1300 OF SECURITIES EXCHANGE COMMISSION REGULATION S-K.
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