Las Vegas, NV, July 10, 2013 (GLOBE NEWSWIRE) -- First Liberty Power Corp. (OTCQB: FLPC), aninnovative and diversified mine exploration and development companyfocused on "Mined in America" strategic industrial minerals, todayannounced it has signed a Letter of Intent (LOI) with Group8 MiningInnovations (Group8) to acquire $1.5 million for the purchase ofequipment to process ore from the Fencemaker Operation. Terms of the LOI call for First Liberty to provide Group8 aninitial deposit of $150,000. That will be followed by anadditional $150,000 approximately 6 weeks later, upon delivery ofthe milling equipment. The remaining $1.2 million will befinanced by Group8 through a two-year payment program, commencing 3months after delivery of the equipment and setup of the millingoperation The cost of the finance is 10% annually, togetherwith a 3% top-line royalty on mill output while the debt remainsoutstanding. Further equipment details will be provided uponsigning of the contract. In making the announcement, First Liberty Power CEO DonNicholson, noted the dual significance of the agreement. "With the Fencemaker mining operation rapidly approachingproduction, it is critical that we commence acquisition of themill. With the support of Group8, this is now an achievabletarget," Nicholson said. "Subject to any final regulatoryapprovals, we expect the mill to be operational within three monthsof the equipment order." The above-industry standard of the FLPC milling equipment willallow an upgrade of all permitted antimony (stibnite) ore fromFencemaker to an industry standard 60% concentrate using anadvanced, clean milling process. As well, FLPC will have theopportunity to use any excess milling capacity to potentiallyprocess ore from other compatible local mining operations. Mr. Nicholson added, "With this purchase arrangement nowestablished, together with the recently announced plan by the boardof directors to seek approval to increase the company's authorizedcapital, we are well positioned to obtain the necessary capitalrequired, on more favorable terms, for the mill equipment paymentsand other operational startup capital requirements."
FLPC will continue to use Pathways ofProgress announcements to inform and updateshareholders and investors of advancements in mining and financialoperations.ABOUT FIRST LIBERTY POWER CORPORATION(OTCQB: FLPC): First Liberty Power Corporation is aninnovative and diversified mine exploration and development companyfocused on bringing to market "Mined in America" strategicindustrial minerals. The FLPC corporate philosophy is drivenby a dedication to Pathways of Progress (POP). It is aprogram of best corporate practices designed to rapidly drive thecompany towards mine production/milling, benefitting FLPCshareholders, investors and mining partners and ensuring safety,environmental integrity, and good governance. Presently, FLPChas interests in four properties: the Fencemaker antimony projectin Nevada, the Lida Valley and Smoky Valley lithium brine projectsin Nevada, and the San Juan vanadium/uranium project in Utah. www.firstlibertypower.com www.facebook.com/FirstLibertyPower Notice Regarding Forward-LookingStatements This current report contains"forward-looking statements," as that term is defined in Section27A of the United States Securities Act of 1933 and Section 21E ofthe Securities Exchange Act of 1934. Statements in this pressrelease which are not purely historical are forward-lookingstatements and include any statements regarding beliefs, plans,expectations or intentions regarding the future plans of thecompany, the prospects for our mineral properties, and our abilityto raise necessary working capital. Actual results could differ from thoseprojected in any forward-looking statements due to numerousfactors, including the inherent uncertainties associated withmineral exploration and difficulties associated with obtainingfinancing on acceptable terms. We are not in control of metalsprices and these could vary to make development uneconomic. Theseforward-looking statements are made as of the date of this newsrelease, and we assume no obligation to update the forward-lookingstatements, or to update the reasons why actual results coulddiffer from those projected in the forward-looking statements.Although we believe that the beliefs, plans, expectations andintentions contained in this press release are reasonable, therecan be no assurance that they will prove to be accurate. Investorsshould consult all of the information set forth herein and shouldalso refer to the risk factors disclosure outlined in our mostrecent annual report for our last fiscal year, our quarterlyreports, and other periodic reports filed from time-to-time withthe SEC.
CONTACT: For more information contact: Robert Reynolds (800) 709-1196 firstname.lastname@example.org