FACT SHEET | WINTER 2012 TSX: LBE RECENT PRICE Combining production $0.14 (AS OF FEB 17) 52-WEEK RANGE: and exploration in the $0.07 - $0.22 Shaw Dome Nickel Belt AVERAGE 3-MONTH VOLUME 79,000 ISSUED & OUTSTANDING SHARES 206,477,365 MARKET CAPITALIZATION $28.9 MILLION CASH & INVESTMENTS $1.2 MILLION (AS OF SEP 30, 2011) YEAR END DECEMBER 31 Liberty Mines is focused on the exploration, development and production of nickel and related base metals from its assets in Ontario, Canada. Liberty owns and operates the only nickel concentrator in the Shaw Dome, a prospective nickel belt region near Timmins, Ontario. PROPERTY LOCATIONS Liberty’s short-term objectives include the resumption of production activities in Q1 2012 when the refurbishment of its tailings pond facility is expected to be completed. Over the longer term, the Company plans an aggressive exploration HART program on its current properties in the Timmins area to increase its resource REDSTONE MCWATTERS base for the Redstone Mill. The Company is also focused on growth opportunities, and is looking to expand its portfolio beyond the Timmins area. MATHESON TIMMINS Redstone Mill NICKEL MARKET OUTLOOK Demand for nickel is expected to grow by 9.5% in 2012, driven largely by QUEBEC consumption in China and increasing 9.5% stainless steel production. expected growth of nickel GROVES demand in 2012 MCARA / RAY INVESTMENT HIGHLIGHTS • Strong leadership team with significant mining and operational experience • Only mill facility within the Shaw Dome nickel belt ONTARIO • Progressing towards the re-start of McWatters Mine and Redstone Mill, and positive cash flow SUDBURY • Solid pipeline of exploration projects NORTH BAY Liberty’s Producing Mines • Strategic relationship with Jilin Jien Nickel Industry Co. Deposit • Strong nickel market fundamentals Current Exploration EXPERIENCED SENIOR MANAGEMENT TEAM LIBERTY’S KEY NICKEL PROJECTS Chris Stewart President & CEO Liberty has three major assemblies of mining claims and leases William Woods in northern Ontario including: CFO 100% interest in 11,569 ha of the Shaw Dome Nickel Belt located 25 km Peter Caldbick 1. southeast of Timmins containing two mines and one deposit: VP Exploration • the Redstone Nickel Mine with 757,000 tonnes of Inferred resources at Keyvan Salehi 1.57% Ni; Director of Technical Services • the McWatters Nickel Mine with 792,000 tonnes of probable & Corporate Strategy reserves at 0.58% nickel and an expected production rate of Brendan Zuidema 1,500 tonnes/day; and General Manager • the Hart Nickel Deposit with 1.5 million tonnes indicated @ 1.40% Nickel, and an expected production rate of 250 tonnes per day starting in Q3/2013 ramping up to 750 tonnes per day by 2017 CONTACTS Chris Stewart 100% interest in the 3,328 ha (contiguous) Groves nickel copper platinum President and CEO group metals project 20 km southeast of Gogama. 2. Liberty Mines 416.226.4360 100% interest in the 1,726 ha (non contiguous) McAra Lake-Ray cobalt [email protected] 3. nickel copper project located about 120 km south east of Timmins. REDSTONE – THE ONLY MILL IN THE SHAW DOME NICKEL BELT Joe Racanelli Vice President The Redstone Mill & Nickel Concentrator was constructed in 2007 to specifically TMX Equicom handle up to 2,000 tonnes per day of altered komatiite ore. Redstone is the only mill in the Shaw Dome Nickel Belt area. The mill is expected to re-start in Q1 2012 416.815.0700 ext 243 after refurbishment of the tailings pond facility is completed, which will provide [email protected] capacity though 2015. SELECTED UPCOMING MILESTONES • Re-start of McWatters Mine and Redstone Mill in Q1 2012. • 2012 nickel production expected to be approximately 4.0 million pounds. • Comprehensive drilling program through Q4/2012: › along strike and at depth to increase the size of the Hart East deposit; › at depth on the main Hart deposit to expand the resource estimate; › underground at Redstone Mine to confirm near-term resources; › at depth on the Redstone Mine with the objective of moving the 747,000 tonne inferred resource into the indicated category; and • Construction of a new tailings pond facility with a 15 year life expected in 2014. twitter@LibertyMinesInc www.libertymines.com .