Las Vegas, NV, Dec. 16, 2013 (GLOBE NEWSWIRE) -- First Liberty Power Corp. (OTCQB:
FLPC), an innovative and diversified exploration,
development and mining company focused on strategic industrial
minerals for America's future, today announced that it has
finalized the terms of an offtake sales agreement for stibnite
(antimony) concentrate shipments.
The Company has entered into an agreement with
Shenyang Huachang Antimony Chemical Co., Ltd. ("SHACC"), a
subsidiary of New Huachang Five Star Group, whereby SHACC has
certain rights to acquire ore mined at the Fencemaker antimony
property by FLPC strategic partner, Stockpile Reserves LLC.
SHACC will pay a premium over industry standard prices on
competitive payment terms based on its desire to source from a
stable jurisdiction with strong environmental and safety
standards.
With more than 500 metric tons of ore currently
loaded for transportation, FLPC has established a first stage plan
to have the raw ore upgraded to a 50 to 60% concentrate. The
upgraded ore will be sold and shipped to SHACC for further
refining.
"While we continue to move First Liberty Power
forward in many areas, the company's main objective remains to
achieve initial revenue within our second fiscal quarter ending
January 31, 2014," stated FLPC CEO, Don Nicholson. "A key
component of our mid-term strategy is to be able to refine ore
through to finished products in the USA. That will require a
transition phase of generating the cash flow to finance such
operations. With the offtake agreement in place, we are moving
toward that scenario. Our expectation is that the first
container will be at the shipping port by the third week of January
with regular shipments to follow. More details on tonnage and
concentrate levels will be provided over the following weeks, as
transportation and concentrating costs become clearly
established."
The Company's announced timetable of shipments will also require
an escalation in Fencemaker mine blasts, beginning in
January. Additionally, there will be intensified efforts to
complete the permitting process for the planned mill site in
Lovelock, Nevada to localize ore concentration.
FLPC will continue to use Pathways of
Progress announcements to update advancements in
their mining and overall operations.
ABOUT FIRST LIBERTY POWER CORPORATION (OTCQB:
FLPC): First Liberty Power Corporation is an innovative
and diversified exploration, development and mining company focused
on bringing to market strategic minerals for America's Future,
having the only Antimony mine in production in the USA. The First
Liberty corporate philosophy is driven by a dedication to the
Pathways of Progress (POP) program. This is a
program of best corporate practices designed to drive the company's
exploration, development and mining operations, benefitting First
Liberty shareholders, investors and mining partners, in addition to
ensuring safety, environmental integrity, and good governance.
Presently, First Liberty has interests in four properties: the
Fencemaker antimony project in Nevada, the Lida Valley and Smoky
Valley lithium brine projects in Nevada, and the San Juan
vanadium/uranium project in Utah.
www.firstlibertypower.com
www.facebook.com/FirstLibertyPower
https://twitter.com/FirstLibertyOTC
ABOUT STOCKPILE RESERVES, LLC (SRL):
Stockpile Reserves LLC is dedicated to the safe,
environmentally sound and efficient extraction of antimony ore from
the Fencemaker mine. SRL believes in forming partnerships which
will bring the mining of antimony ore in the United States to new
levels. From that mission SRL will achieve the highest respect and
recognition of the mining industry, both domestically and
internationally, through quality standards and quantitative
achievement that enhance the integrity upon which the company was
founded.
ABOUT Shenyang Huachang Antimony
Chemical Co., LTD.: With over forty years
of corporate development, New Huachang Five Star Group evolved into
a private enterprise through the historical exploiting,
smelting and further production of antimony ore, and integrating
the processing and smelting of other non-ferrous
metals. The antimony production plants,
which are subordinate to Huachang Five Star Group, have an annual
production capacity of 16,000 MT of antimony products, with an
annual antimony smelting capacity of 25,000 MT. For antimony raw
materials, there are qualified antimony raw materials production
lines, two blast furnaces, three reverberatory furnaces, two
antimony white furnaces, shaft furnaces to deal with complicated
antimony raw materials, three reverberatory furnaces, two blowing
furnaces, multiple non-ferrous metals recycling production lines to
deal with complicated lead raw materials, separating lead and
antimony production lines, electrolytic lead workshop, the
equipment and furnaces to recycle valuable metals, the mineral
processing factory dealing with oxide copper ores, complicated
copper sludge and copper materials and a batch plant, with four
production lines, and a rotary kiln to deal with zinc oxide
materials. Huachang Five Star Group has never stopped
progressing and prides themselves on constantly striving to become
the best possible operation it can be.
http://www.antimony-cn.com/index.php
Notice Regarding Forward-Looking
Statements
This current report contains
"forward-looking statements," as that term is defined in Section
27A of the United States Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Statements in this press
release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future plans of the
company, the prospects for our mineral properties, and our ability
to raise necessary working capital.
Actual results could differ from those
projected in any forward-looking statements due to numerous
factors, including the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of metals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that they will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our most
recent annual report for our last fiscal year, our quarterly
reports, and other periodic reports filed from time-to-time with
the SEC.
CONTACT: Robert Reynolds (800)709-1196
ir@firstlibertypower.com
