Liberty Star Uranium & Metals Corp. was formerly Liberty Star Gold Corp.
and formerly Titanium Intelligence, Inc. (“Titanium”). Titanium
was incorporated on August 20, 2001 under the laws of the State of Nevada. On
February 5, 2004, we commenced operations in the acquisition and exploration
of mineral properties business. Big Chunk Corp. (“Big Chunk”), our
wholly owned subsidiary, is engaged in the acquisition and exploration of mineral
properties business in the State of Alaska. In April 2007, we changed our name
to Liberty Star Uranium & Metals Corp. Hay Mountain Super Project LLC (“HMSP”),
our wholly owned subsidiary, serves as the primary holding company for development
of the potential ore bodies encompassed in the Hay Mountain area of interest
in Arizona. We are in the exploration phase of operations and have not generated
any revenues from operations.
We are engaged in the acquisition and exploration of mineral properties in
the States of Arizona and Alaska. Claims in the State of Alaska are held in
the name of Big Chunk. Claims in the State of Arizona are held in the name of
Liberty Star. We use the term “Super Project” to indicate a project
in which numerous mineral targets have been identified, any one or more of which
could potentially contain commercially viable quantities of minerals. Our significant
projects are described below.
North Pipes Super Project (“North Pipes” and “NPSP”):
The NPSP is located in Northern Arizona on the Arizona Strip. We plan to ascertain
whether the NPSP claims possess commercially viable deposits of uranium and
associated co-product metals. We have not identified any ore reserves to date.
Big Chunk Super Project: The Big Chunk Super Project is located in the Iliamna
region of Southwestern Alaska. We plan to ascertain whether the Big Chunk Super
Project claims possess commercially viable deposits of copper, gold, molybdenum,
silver, palladium rhenium and zinc. We have not identified any ore reserves
to date.
Tombstone Super Project (“Tombstone”) (formerly referred to as
Tombstone Porphyry Precious Metals Project): Tombstone is located in Cochise
County, Arizona and covers the Tombstone caldera and its environs. Within the
Tombstone caldera is the Hay Mountain target where we are concentrating our
work at this time. We plan to ascertain whether the Tombstone, Hay Mountain
claims possess commercially viable deposits of copper, molybdenum, gold, silver,
lead, zinc, manganese and other metals including Rare Earth Elements (REE’s).
We have not identified any ore reserves to date.
East Silverbell Porphyry Copper Project (“East Silverbell”): East
Silverbell is located northwest of Tucson, Arizona. We plan to ascertain whether
the East Silverbell claims possess commercially viable deposits of copper. We
have not identified any ore reserves to date.
Title to mineral claims involves certain inherent risks due to difficulties
in determining the validity of certain claims, as well as potential for problems
arising from the frequently ambiguous conveyancing history characteristic of
many mineral properties. We have investigated title to all the Company’s
mineral properties and, to the best of our knowledge, title to all properties
are in good standing.
The mineral resource business generally consists of three stages: exploration,
development, and production. Mineral resource companies that are in the exploration
stage have not yet found mineral resources in commercially exploitable quantities,
and are engaged in exploring land in an effort to discover them. Mineral resource
companies that have located a mineral resource in commercially exploitable quantities
and are preparing to extract that resource are in the development stage, while
those engaged in the extraction of a known mineral resource are in the production
stage. We have not found any mineral resources in commercially exploitable quantities.
There is no assurance that a commercially viable mineral deposit exists on
any of our properties, and further exploration is required before we can evaluate
whether any exist and, if so, whether it would be economically feasible to develop
or exploit those resources. Even if we complete our current exploration program
and we are successful in identifying a mineral deposit, we would be required
to spend substantial funds on further drilling and engineering studies before
we could know whether that mineral deposit will constitute a commercially viable
mineral deposit, known as an “ore reserve.”
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