FinancialContent is the trusted provider of stock market information to the media industry.
July 29, 2013 at 08:56 AM EDT
Liberty Mines Appoints Asbestos Abatement Firm

TORONTO, ONTARIO -- (Marketwired) -- 07/29/13 -- Liberty Mines Inc. (TSX: LBE) has appointed JMX Environmental to lead the process of remedying asbestos contamination at the Redstone and McWatters sites in Timmins. JMX Environmental is a leading asbestos abatement firm that has extensive experience in the safe removal and disposal of asbestos across various industries. It is a member of the Environmental Abatement Council of Ontario.

Pat Gleeson, the President and Chief Executive Officer of Liberty Mines, commented, "Following a thorough request for proposal process, Liberty Mines selected JMX Environmental to lead the clean-up of our site. The appointment of JMX Environmental is key to a timely remediation of the Redstone mill per the order of the Ministry of Labour."

Liberty Mines has borrowed funds from Jien International Investment Ltd. to cover the cost of engaging JMX Environmental. Terms of such loan are subject to execution of definitive loan agreements. Jien International is a related party of Liberty Mines based on its approximate 60% shareholding in Liberty Mines.

Director Appointment

Liberty Mines welcomes Haodong Li as a member of its board of directors. Mr. Li joined Jilin Jien Nickel Industry Co., Ltd in 2005 and subsequently joined Horoc Group, which is Jilin Jien's controlling shareholder. At Horoc Group he serves currently as deputy director of Planning and Strategy Department. Haodong Li replaces Mr. Tao Li, who has resigned as a director of Liberty Mines. Tao Li has resigned to pursue other non-business initiatives. Liberty Mines expresses its sincere gratitude to Tao Li for his hard work and contributions to the company.

About Liberty Mines Inc.

Liberty Mines Inc. owns the only nickel concentrator in the Shaw Dome area, a prospective nickel belt region near Timmins, Ontario. Liberty also owns two former producing nickel mines and a prospective land package near Timmins, Ontario.

CAUTIONARY STATEMENTS

This document includes "forward looking statements", as defined under applicable securities laws. All statements, other than statements of historical fact, including statements regarding the impact of the JMX Environmental appointment, the timing of completion of remediation, future plans and objectives of Liberty Mines, and the timing and completion of applicable loan agreements, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Liberty Mines' expectations are: insolvency risks; regulatory approvals; environmental risks and other risks inherent in the mining industry, as described in Liberty Mines' public filings. Forward-looking statements speak only as of the date on which they are made. Liberty does not undertake to publicly update any such statement, except where required by securities regulations. Accordingly, readers should not place undue reliance on forward-looking statements.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contacts:
Liberty Mines Inc.
Pat Gleeson
President & CEO
(416) 861-5800
pgleeson@forbesmanhattan.com

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here
   
Financial Widgets

Display market data, financial news or stock quotes - Learn More

Advertising Network

Advertise on FinancialContent's huge network - Learn More

Web Services

Power your internet and wireless applications - Learn More