NORTHERN SUN MINING CORP LBEFF

NR - Liberty Arranges $9 Million Brokered and

[Buxom1]

Liberty Arranges $9 Million Brokered and Non-Brokered Financing 9/12/2007 Timmins, ON September 12, 2007 FSC / Press Release Liberty Arranges $9 Million Brokered and Non-Brokered Financing NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Timmins, Ontario CANADA, September 12, 2007 /FSC/ - Liberty Mines Inc. (TSX - VX: LBE), ("Liberty or the Corporation") is pleased to announce that it has entered into an agreement with Salman Partners Inc. whereby Salman Partners Inc. will act as Agent for an offering (the "Offering"), on a best efforts private placement basis, of 3,000,000 Flow-Through Common Shares at a price of CAD $2.85 per share for gross proceeds of up to CAD$8,550,000. Accompanying this Offering is an additional non-brokered private placement arranged by Liberty, which also consists of Flow-Through Common Shares for gross proceeds up to $450,000. Each Flow-Through Common Share will consist of one common share at a price of CAD $2.85 per share. In consideration for its services, the Agent will receive a cash commission equal to 6% of the gross proceeds from the offering and Agent's warrants equal to 6% of the aggregate number of Flow-Through Common Shares sold pursuant to the Offering. The Agent's warrants will be exercisable to purchase one common share of the Corporation at a price of CAD $2.85 for a period of eighteen months from closing. The offering is scheduled to close on or about September 27, 2007 and is subject to certain conditions including, but not limited to, receipt of all required regulatory approvals. The securities issued by Liberty in connection with these offerings are subject to a 4-month "hold period" as prescribed by the TSX Venture Exchange. The net proceeds of the Flow-Through Common Shares will be used to fund exploration and development activities at the McWatters mine, the Hart nickel project, other projects in the Shaw Dome Nickel Belt and the Groves nickel copper PGM project. "These funds allow us to continue with our accelerated exploration programs while leaving revenue generated from our mining and milling operations for capital projects" said Liberty's President, Gary Nash. "The Groves project gives us a head start with an historical resource, but it is going to take a lot of drilling to get that up to NI 43-101 standards and test the 12 km geophysical anomaly on which it is situated", he added. About Liberty Mines Inc. Liberty Mines Inc. is a mineral exploration and development company with a focus on the development and mining of nickel, cobalt, copper and platinum group metals from its properties in Ontario. CAUTIONARY STATEMENT No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Liberty, 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's expectations are exploration risks, commodity prices, assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators. For further information please contact: Dr. Gary Nash, PhD (Physics), President & CEO Liberty Mines Inc. Phone [phone] Fax [phone] e-mail: [e-mail] Press Release 29-07 Source: Liberty Mines Inc. (TSX-V: LBE) https:// www.libertymines.com Maximum News Dissemination by Filing Services Canada Inc. Ph: [phone] Fx: [phone] www.usetdas.com