Liberty Star Uranium and Metals Corp (LBSR)

[gitreal]

Core drilling is necessary during the development of an ore body, but not for discovery. None of these parameters (other than grade) is necessary during the discovery phase....and grade can be determined sufficiently (and waaaaay cheaper) through RC drilling.

The drilling program was completed in support of a feasibility study that is being completed prior to the planned initiation of the Phase 1 of development program in early 2012. The core holes drilled in the two alternate sites were to examine the potential ore blocks for geological continuity, grade, fracture density, rock quality characteristics and other key geological parameters. Results are being used for geological characterization, predictive modeling and to provide details for Phase 1 construction bid preparations. A single hole was drilled in the 1997 BHP in-situ well field. This hole was to analyze geochemical reactions and flow patterns that would have occurred during the 1997 BHP production test. Assays for three other holes are pending.