First Liberty Power Announces Arabia Property Purchase
April 08 2014 - 9:03AM
First Liberty Power Corp. (FLPC: OTCQB), an innovative and
diversified exploration, development and mining company focused on
"Mined in America" strategic industrial minerals, has announced
that it has entered into an Exploration and Mining Lease Earn-in to
Purchase Agreement ("Agreement") with Renaissance Gold Inc. (TSX:
REN) for the mining development property known as the "Arabia
Project".
First Liberty Power CEO Don Nicholson detailed
the Agreement. "The First Liberty management team became aware of
the Arabia Project in December 2013 and quickly realized that the
project was in complete alignment with First Liberty's strategic
development plan. The Arabia Project is comprised of 21-unpatented
and 7-patented mining claims along with leaseholder rights on
8-patented claims, totaling approximately 741.6 acres. Entry into
this Agreement is expected to significantly advance the Company's
mining and centralized milling strategy for antimony and other
associated minerals in Pershing County, Nevada. We are very pleased
to now have the opportunity to further the exploration and
development work on this high-potential property, and I want to
acknowledge Renaissance Gold for their part in assisting First
Liberty's mission to become a leader in mined in America strategic
minerals."
The Arabia Project is a consolidation of the
polymetallic Arabia District just north of Lovelock, Nevada. It is
a series of mesothermal quartz veins that maybe intrusion related
or orogenic in origin. Historic mining records indicate very high
grades of antimony, lead, silver and gold. Previous sampling by
Renaissance Gold yielded up to >1.5% Stibnite (Sb / Antimony),
30.1% Lead (Pb), 1811.5 ppm Silver (Ag), and 18.9 ppm Gold (Au.).
All claims are located within 10 miles of FLPC's proposed Lovelock
mill site.
The full Agreement, which is available in the
Company's Form 8-K filing with the Securities and Exchange
Commission, is comprised of payments of $100,000 per year over 10
years, plus claim maintenance costs, and a 10% NSR. Payments
may be accelerated at any time, and once completed, the NSR is
reduced from 10% to 7% with a buy down provision to 4%. Half of the
one million dollar payment is an advance royalty payment, and there
is a minimum $50,000 work commitment during each of the first two
years to be carried out by Renaissance Gold personnel.
According to First Liberty Board Chairman Bob
Reynolds, details on the Arabia Project will be made available on
the Company's website, along with our existing information on the
Fencemaker Antimony project. "We are pleased that we were
able to complete and announce this Agreement during the week that
CEO Nicholson is presenting at the World Antimony Forum in Madrid,
Spain," Reynolds said. "Mr. Nicholson's topic will be the
Development of the American Antimony Market, and we expect
this Arabia Project will emerge as a contributing factor to
that very process."
First Liberty Power will continue to use their
Pathways of Progress information platform to provide updates on
Company operations and newsworthy events.
ABOUT FIRST LIBERTY POWER CORPORATION (OTCQB:
FLPC): First Liberty Power Corporation is an innovative
and 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), an
information platform used to inform shareholders, investors and
mining partners of FLPC news and advancements. First Liberty is
presently exploring and developing projects focused on antimony,
lithium brine and vanadium/uranium minerals.
www.firstlibertypower.com
www.facebook.com/FirstLibertyPower
twitter.com/FirstLibertyOTC
Renaissance Gold Inc. is a gold/silver
exploration company that has a large portfolio of exploration
projects in Nevada and Utah. Many of the projects are in
exploration earn-in agreements with industry partners who provide
exploration funding. Renaissance Gold applies the extensive
exploration experience and high-end technical skills of its
founders and team members to search for and acquire new precious
metal exploration projects that are then offered for joint
venture. http://www.rengold.com/s/Home.asp
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.
CONTACT: Robert Reynolds (800)709-1196
First Liberty Power Corp
ir@firstlibertypower.com
Thomas Dean (646) 396-9615
Murdock Capital Partners
tdean@murdockcapital.com