Liberty Mines Inc. (TSX-V: LBE) ("Liberty") is pleased to announce the results of the recent drilling program at the McAra Lake base metal deposit located in Dufferin Township 120 km S.E. of Timmins. The objective of the ongoing drill program is to extend the cobalt and copper zones discovered by previous drilling. For example, borehole EDS 04-05 drilled at 0+56W, 0+09N at a -64 degree dip reported 3.1m of 11.90% Copper ("Cu") from 65.9m to 69m and 2.5m of 4.77% Cobalt ("Co") including 1.0m of 10.26% Co as per news release dated February 25, 2004. Borehole EDS 04-07 drilled at 0+83N, 0+10N at a -60 degree dip found 4.47m of 3.34% Co including veins of 11.74% Co over .45m.

Borehole M06-19 hit 4.81m of 1.8% Cu in the upper chalcopyrite zone and 1.11m of 1.5% Cu in the lower zone; M06-20 found 4.13m of 1.4% Cu and M06-21 yielded an upper zone with 3.57m of 1.27% Cu and a lower chalcopyrite vein of 1.08m with 1.92% Cu. These three holes were drilled approximately 65m East of EDS 04-5.

Borehole M06-22 hit a lower zone of 9.84m of 1.23% Co, 13m below the rich Co vein in EDS 04-07.

These results indicate the potential for significant tonnage of Co and Cu mineralization. The presence of Zinc and Lead was established with Zinc up to .83% throughout the lower chalcopyrite vein in M06-19. These elements had not previously been tested and add value to the deposit. "The association of lead and zinc with the cobalt veins is stronger than normal," said Doug Robinson, Liberty's cobalt geologist. Drilling is ongoing with holes M06-23, M06-24 and M06-25 completed. Core is being logged and will be sent for analysis immediately thereafter.

The hole locations are being surveyed and the exact coordinates will be reported in a subsequent news release.

The following is a summary table of the results so far:

-------------------------------------------------------------------------
Bore- Description From    To  Interval  Cu    Co   Ni    Ag     Zn     Pb
hole
                   (m)    (m)   (m)      %     %   %     g/t     %     %
-------------------------------------------------------------------------
M06-
19    Upper       10.83  15.64  4.81   1.77  .019      16.77  .211   .286
      chalcopyrite
      zone
-------------------------------------------------------------------------
M06-
19    Lower        26.0  27.11  1.11   1.51  .038       29.8  .827   .818
      chalcopyrite
      zone
-------------------------------------------------------------------------
M06-
20    Breccia     15.94  20.07  4.13   1.44  .332       15.3  .379   .112
      quartz vein
-------------------------------------------------------------------------
M06-
21    Chalcopy-
      rite        14.43  18.00  3.57   1.27  .025       12.5  .458  2.093
      zone
-------------------------------------------------------------------------
M06-
21    Lower       38.16  39.24  1.08   1.92  .056       37.3  .137   .428
      chalcopy-
      rite        45.28  45.53   .25    .90  .011       18.8  1.84   1.39
      zone
-------------------------------------------------------------------------
M06-
22    Breccia     71.76  81.60  9.84         1.23  .085  2.2
      quartz Co
      zone
-------------------------------------------------------------------------
      including   79.53  81.60  2.07         4.93  .319  7.6
-------------------------------------------------------------------------