Liberty Star Uranium & Metals Corp. (LBSR: OTCQB) | Hay Mountain Project: Drill Holes Selected for Drilling on Two Outcrops Showing High Grade Copper


Hay Mountain Project: Drill Holes Selected for Drilling on Two Outcrops Showing High Grade Copper

Oct 14, 2015

OTC Disclosure News Service

Liberty Star Uranium Metals Corp. (“Liberty
 or the “Company”)
LBSR) is pleased to announce that very high grade copper oxide outcrops
near the geochemical high derived from vegetation sampling have been
discovered. These show up to 22% copper.

Recent detailed mapping found pervasively brecciated limestone, which
led to the conclusion that the area called the Chrysocolla Block (where
the first discovery of oxide copper in outcrop was made) was
misidentified as the Colina limestone. Further evaluation led to the
conclusion that the zone was of the lower Earp formation, which is the
layer directly below the Colina. A red clay marker bed at the base of
the exposed Earp limestone breccia clearly identifies it, but had been
inexplicably missed by previous geologists. Current understanding
indicates that the latest targets may bloom into major mineral zones 200
to 400 feet in depth at their intersection with the Horquilla limestone,
the major mineral host in the region.

After ID of the lower part of the Earp, the Company’s skarn consultant
(recently working on another Arizona project in the same sedimentary
rocks, containing high grade copper) felt that there was a strong
possibility that the two high grade copper oxide outcrops could be
positioned right above high grade copper mineralization. This opinion
correlates with Liberty Star’s geophysical–geochemical cross sections: see

Company CEO/Chief Geologist James A. Briscoe notes: “This is the
specific target we have been searching for before kicking off a drill
program. This development of discovery by use of the Niton and lots of
boots on the ground carefully observing rocks gave us this completely
unexpected outcrop; we have made the breakthrough we needed. This find
is exciting and meaningful because it is the largest exposure so far
located at Hay Mountain, and is similar to outcrops in the Bisbee mining
district 15 miles south.”

Briscoe continues: “This outcropping oxidized mineral occurrence, taken
with our recent work, confirms increasing mineral intensity over the
previous geochemical and geophysical anomalies, and is confirmation of
the type of mineralization we wanted to find. We have much technical
work, including drilling, to complete prior to declaring an ore body
present at Hay Mountain, but until now we were working with indirect
geochemical, geophysical and geologic interpretation; this is direct

Drilling Planned-Permitting Underway

Two drill holes 600’ apart have been spotted over the two sites of the
gossan outcrops. Work on nine other targets across the heart of the
geochemical-geophysical anomaly is underway. The flexible drill plan
calls for vertical diamond core holes to as deep as 2,000 feet. If
horizontal bedded ore grade copper or other metals are intercepted, 45
degree angle holes will be drilled to determine width, thickness and
shape of the mineralization. Contorted, broken and brecciated beds are
nearby and along the line of holes, which is characteristic of the
porphyry copper geologic environment. “This is a good environment for
defining out an important ore body,” comments Briscoe.

Plans call for holes up to 2,000 feet deep but could be shallower. Each
hole would take about 20 days to drill and cost about $200,000 if
drilled to total depth: estimated start time of about January 2016.

“James A. Briscoe” James
A. Briscoe,
Professional Geologist, AZ CA
CEO/Chief Geologist
Star Uranium Metals Corp.

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Forward-Looking Statements

Statements in this news release that are not historical are
forward-looking statements. Forward-looking statements include: findings
led to the conclusion that the Chrysocolla Block was misidentified and
the conclusion that the zone was of the lower Earp formation that the
discovery constitutes the specific target we have been searching for
before kicking off a drill program. Factors which may delay or prevent
these forward-looking statements from being realized include: our
inability to raise sufficient funds to complete our intended exploration
or carry on operations; an inability to continue exploration due to
weather, logistical problems or hazards even if funds are available.
Readers should refer to the risk disclosures in the Company’s recent
10-K and the Company’s other periodic reports filed from time to time
with the SEC.

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