LAS VEGAS, April 29, 2011 /PRNewswire/ -- First Liberty Power Corp. (OTCBB: FLPC) (the "Company") www.firstlibertypower.com is pleased to draw attention to recent market trends that suggest a positive outlook for the lithium exploration sector. Several lithium exploration companies have been subject to phenomenal activity recently - Lithium Exploration Group is one recent example of a company that has seen its valuation increase significantly.
President and CEO of First Liberty Power, Don Nicholson, comments "It is exciting to be involved in a sector that is receiving such a rapid growth in investor interest. I believe this level of activity will only help to draw attention to the sector, and to lithium exploration companies like First Liberty Power." Mr. Nicholson added "Our Company's Lida Valley project ("LVW Claims") is superior in many ways to other projects, as it is located in the most strategically attractive and economically viable lithium producing area in the world, in my opinion."
The majority of the world's lithium production comes from brines, or salt lakes, where prospective lithium mineralization is generally hosted in brine horizons. The LVW Claims are well positioned for lithium brine production, in that there is plenty of room for evaporation ponds, and we are located directly adjacent to Highway 95 with power-lines, roughly half way between Las Vegas and Reno Nevada.
Geophysical work already finished on the property includes two gravity surveys and a CSAMT/MT (EM) Survey. Results from all of the geophysical surveys are available on the Company's website www.firstlibertypower.com. The LVW Claim shares a similar geology and weathering history to nearby Clayton Valley, and are located within 15 miles of the Montezuma Peak, which is believed to be the source of the region's lithium. The north end of Clayton Valley hosts Chemetall Foote Corporation's Silver Peak Mine, the only lithium brine producer in the United States. Mine production comes from lithium enriched brine located below the surface. This plant has been in production since 1967 and is designed to produce up to 1.2 million kilograms of lithium hydroxide per annum.
First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium exploration and development in the United States. The Company is positioned to capitalize on the anticipated increase in demand for lithium carbonate that is projected to result from the acceleration of the adoption and use of clean renewable energy products that utilize lithium-ion batteries.
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, including but not limited to, the final outcome Lida Valley exploration / work programs, investor recognition of ours or other company's stock, inferences in regards to merits of the LVW Claims by virtue of their geographic proximity to other mining properties, our ability to raise the necessary capital to complete our exploration program, and any mineralization, exploration and development of our mineral properties, specifically in regards to Lithium.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, 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 such beliefs, plans, expectations or intentions 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 Securities and Exchange Commission.
SOURCE First Liberty Power Corp.