TSX: LBE

TORONTO , Aug. 14, 2012 /CNW/ - Liberty Mines Inc. (LBE.TO) ("Liberty" or the "Company") today reported its financial results for the three- and six-month periods ended June 30, 2012 . All amounts are in Canadian currency.

"Our second quarter performance was effectively marked by the re-start of operations and the ramp-up of production," said Chris Stewart , President and CEO of Liberty Mines. "While Q2 results included our highest production of concentrate and our highest revenue total in nearly two years, our progress was impeded by the nickel price declining by more than 25 percent in the past six months and generally unfavorable market conditions.In response to the current market environment, we are undertaking a full review of our strategy and operational activities to reduce costs and improve efficiencies. To maximize the value of our ore for when nickel prices recover, we are temporarily suspending production immediately."

Adverse market conditions, including the declining price of nickel, has resulted in JIIL deciding to re-evaluate the terms of the restructuring and the parties were unable to resolve the outstanding issues prior to the completion of the Company's financial statements for the six monthsending June 30 , 2012. As a result, approximately $52.6 million in debt that comes due on December 31 , 2012and a further $10 million advanced in 2012 pursuant to promissory notes will continue to be treated as a short term liabilities.The remaining $25.5 million that was to be included in the restructuring continues to have a due date of June 30 , 2014. The Company will keepshareholders advised on developments with respect to this matter.

Q2 2012 Financial and Operational Highlights

Selected Q2 financial highlights

Review of Q2 Financial Performance Revenue for Q2 2012 was $5.4 million , up from negative $117,000 for the corresponding period of 2011. The growth was due to a re-start of mining and milling operations effective March 31 , 2012. In Q2 2011, Liberty had suspended mining and milling operations and its revenue total included an adjustment from previous periods. For the six-month period of 2012, Liberty generated revenue of $5.4 million , up 170% from $2.0 million for 2011. In Q2 2012, the average price of nickel was $7.78 per pound.

Liberty generates revenue through the sale of nickel concentrate and related by-products produced from its mining and milling operations in Timmins, Ontario. Liberty has a 100 percent off-take agreement with Xstrata.

Operating expenses for Q2 2012 were $7.4 million , up from $1.4 million last year. The increase in operating expenses is primarily due to the re-start and subsequent ramp-up of production activities throughout Q2 2012. In Q2 2011, Liberty's production activities had been suspended and the Company was chiefly in a maintenance and care-take mode. For the six-month period 2012, operating expenses were $10.7 million , up from $4.8 million .

Net loss for Q2 2012 was $10.3 million or $0.05 per share (basic and fully diluted). The loss included amortization/depletion expenses of $3.2 million , interest on long-term debt of $2.5 million and dividends on preferred shares of $0.3 million . Liberty recorded a net loss of $4.5 million or $0.03 per share for the same period in 2011 when its operations were suspended. For the six month period of 2012, Liberty recorded a net loss of $18.3 million or $0.09 per share. This compares to a net loss of $9.7 million or $0.06 per share for the six-month period of 2011.

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Liberty Mines reports financial results for second quarter 2012

TSX: LBE

TORONTO , Aug. 14, 2012 /CNW/ - Liberty Mines Inc. ("Liberty" or the "Company") announced today that effective immediately it has temporarily suspended production activities due to a low nickel price environment, which has declined by more than 25% in the past six months. Liberty's decision is designed to preserve its nickel ore for when base metals prices improve, and production becomes economically viable.

"Clearly, we are disappointed that market conditions and commodities prices have not kept pace with Liberty's turnaround since the start of the year," said Chris Stewart , President and CEO of Liberty Mines. "Our decision to suspend production temporarily is not being taken lightly, but is ultimately in the best long-term interests of our investors and strategic partners. In the interim, we are making every effort to reduce costs and update our go-forward strategy."

The Company will move all of its assets into a care and maintenance mode effective immediately. This will enable Liberty to protect its assets, and keep them in a ready state so that viable production can easily be restarted when the price of nickel has recovered sufficiently.

To reduce short-term cash requirements, Liberty has also decided to temporarily suspend its exploration diamond drilling activities until further notice.

In response to adverse market conditions, Liberty has also announced that the offering of units of the Company contemplated under the preliminary short form prospectus dated June 26, 2012 is being withdrawn. The Company is reviewing its options for alternative financing arrangements as part of its updated strategy.

To address short term cash requirements, the Company has approached its primary shareholder, Jien International Investment Limited (JIIL), for additional financial support. JIIL has agreed to provide additional financial support to allow Liberty to continue as a going concern by making available an additional $5 million dollars between the date hereof and the end of the year. Interest on these funds will accrue at the rate of 10% per annum following receipt of the required regulatory approvals (including shareholder approval if applicable) and will be due on December 31 , 2012. This additional advance will be secured as part of the existing security arrangements with JIIL and will be subject to standard covenants and events of default

Liberty also announced that it has been advised that its primary shareholder, JIIL, is re-evaluating the terms of the debt restructuring announced previously due to unfavorable market conditions and declining metals prices. The parties have agreed to enter into negotiations to complete a restructuring of all outstanding debt owed to JIIL prior to December 31 , 2012. Liberty will keep shareholders apprised of new developments as negotiations are settled.

About Liberty Mines Inc. Liberty Mines Inc. is a mid-tier producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada . It owns and operates the only nickel concentrator in the Shaw Dome, a prospective nickel belt region near Timmins, Ontario. With a new management team in place, Liberty is focused on growth initiatives not only through a more aggressive exploration program on its current properties but also through potential acquisition or partnership opportunities beyond its core Timmins area projects.

SOURCE: Liberty Mines Inc.

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Liberty Provides Update on Operations, Financing and Debt Restructuring

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2012) - Sennen Resources Ltd. (SN.V) ("Sennen or the Company") comments briefly on the second "Open Letter to Shareholders of Sennen Resources" (the "Letter") dated August 9, 2012 issued by Liberty Silver Corp. (TSX:LSL and LBSV-OTCBB) ("Liberty").

The Letter does nothing to refute the cogent reasons for rejection presented in Sennen's Circular and News Release dated July 31, 2012, and the Letter is replete with fundamental errors that display an embarassing lack of understanding by Liberty's management of Sennen's financial statements and other disclosure. Out of apparent desperation, despite suggesting the desire to conclude a "friendly" transaction, Liberty has spent an inordinate amount of time and effort on personal attacks and criticizing the stewardship of the Sennen's Board and management for succeeding where they themselves have not. Rather ironically, Liberty will fail if it is unable to achieve exactly what that stewardship has produced (and the Board of Liberty has not) - $13.5M in its treasury which places Sennen in a strong financial position to carry on its business and remain solvent for the foreseeable future.

Sennen's Shareholders, who understand the lack of relevant experience in the sector as demonstrated by Liberty's management in their Letter, and their desperate attempt to access cash by any means for that company's survival, still await a response from Liberty's management regarding their "entry cost" into Liberty. Sennen Shareholders, as well as any current and potential future shareholders of Liberty, are entitled to know whether this was at one half of one cent per share (or less), being the average cost of 68.4M of the 81M Liberty shares currently on issue. This fundamental shareholder issue of value creation or exploitation by the Liberty management, board and controlling shareholders must be addressed. Sennen has still been unable to locate Liberty management's US Insider filings, and Sennen once again extends an invitation to Liberty Directors and management to disclose this information in the interests of full and plain disclosure-a subject that lies at the very heart of Sennen Shareholders' lack of trust in Liberty's management.

Sennen has yet to receive one letter, phone call or email in support of the Liberty Offer, and the response of Sennen Shareholders to the Liberty Letter has been extremely negative. Any Sennen Shareholders that do wish to incur the high risk of financial exposure to Liberty are reminded that they can simply buy Liberty shares in the market.

Stated Ian Rozier, President of Sennen, "Several of the comments made by Liberty's management are unprofessional, factually inaccurate and disingenuous, and clearly demonstrate their lack of experience and integrity without the need for any further comment from Sennen. Quite simply put, Sennen Shareholders are effectively being asked to make a Private Placement of $13.5M into a junior company with an OTC Bulletin Board type share structure that the market, Liberty directors, and its major shareholders, are themselves unwilling to do. The myriad of reasons for the markets' refusal to make such an investment into Liberty are confirmed by the very comprehensive report from the Financial Advisors to the Board of Sennen, and based on Liberty's lack of financing success and the unwillingness of Liberty's directors and major shareholders to finance it themselves, we can only assume that they are aware of, and concur with this market assessment. We repeat, based on any analysis of the fundamental issues, Liberty's Offer is of zero interest to Sennen's Board, management and to shareholders representing a majority of the Company's shares. Liberty's advisors should advise them to stop wasting everyone's time and money."

Do not tender your Sennen Shares to the Liberty Offer. Sennen Shareholders are reminded that the Board of Directors have recommended rejection of the Liberty Offer for the reasons set out in the Director's Circular dated July 30, 2012. There is no need for Sennen Shareholders to do anything to reject the Liberty Offer. Please refer to the Director's Circular, which is available on SEDAR, for the reasons for rejection, and steps to take if you have already tendered your Sennen Shares.

Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the adequacy or accuracy of, this release.

Continued here:

Sennen Comments Briefly on Liberty's Desperate Second Letter

Posted: Aug. 13, 2012 | 2:02 a.m. Updated: Aug. 13, 2012 | 8:15 a.m.

Liberty's American Legion baseball team was down to its final three outs and staring at elimination Sunday.

No problem.

The Patriots scored four runs in the bottom of the ninth inning, capped by Griffin Kelly's two-out, two-run double to right-center field for an 8-7 victory over Lakewood (Calif.) in the Legion Western Regional at Fairfield, Calif.

"It was a great feeling, one of those things just like the state title game," said Liberty coach Mike Eshragh, whose team rallied for a 4-3 win over Gorman in the state final. "We told these kids to believe again. We just needed to get base runners on and get that timely hit."

Kelly's timely hit ended a 14-pitch at-bat as the Patriots staved off elimination to reach the final day of the tournament.

Liberty (29-9) will play Fairfield (Calif.) at 4 p.m. today, with the winner meeting Lakewood in the final at 7:30 p.m. The regional champion advances to the Legion World Series at Shelby, N.C.

Liberty's Marcos Rivera singled home Jay Martz before Jesse Keiser's sacrifice fly scored Michael Vargas to pull Liberty within 7-6 in the ninth.

Rivera was called out at third for the second out of the inning as Christopher Bradford reached on a fielder's choice. Kelly's double then plated Bradford and Daniel Skelly to end the game.

Skelly went 2-for-5 with a double and two RBIs. Keiser drove in two runs, and Vargas was 2-for-2 and scored twice.

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Liberty Rallies To Stay Alive In Legion Regional

MILFORD, Conn., Aug. 13, 2012 /PRNewswire/ -- West Liberty Foods, of West Liberty, Iowa, was named by the SUBWAY brand, and its Independent Purchasing Cooperative (IPC), as the 2012 Vendor of the Year at the company's recent convention in Orlando, Florida.

(Photo: http://photos.prnewswire.com/prnh/20120813/NY56344 )

West Liberty Foods, which provides various meat products and related services to the SUBWAY chain, was cited for its work with the brand on product improvements and food safety initiatives, as well as its commitment to corporate social responsibility.

"West Liberty Foods has continued its investment in state of the art facilities, implemented the most advanced food safety protocols, demonstrated strategic vision and innovation in their collaboration with Subway and the IPC, and has achieved national recognition for its work in the area of social responsibility," said Jan Risi, President of the IPC, which is responsible for procuring products, equipment, supplies and services used in Subway restaurants. "Across the board, West Liberty has demonstrated an outstanding commitment to the Subway brand and an unsurpassed level of excellence in all areas of their business."

Added Subway VP, Research and Development, Suzanne Greco, "West Liberty Foods has a strong focus on increasing efficiencies, decreasing waste and ensuring value for the Subway system. For the past 13 years, they have been a true vendor partner and a real friend to the thousands of Subway franchisees they serve."

"We are honored to receive this award, and it is celebrated by each member of our team," said Ed Garrett, President and CEO of West Liberty Foods. "As a company we push the boundaries; whether it is food safety, product development, or environmental sustainability, because it's the right thing to do. As we enter our 14th year as members of the Subway team, our partnership continues to be built on our willingness to invest in our team members and technology, and grow on the strengths of the Subway Brand."

On the Corporate Social Responsibility front, West Liberty Foods is among the first companies in the United States to have its "landfill free" efforts at its Mount Pleasant, Iowa, and Tremonton, Utah, plants verified by a third party organization, a major milestone in the food industry. In fact, West Liberty Food's Tremonton facility has successfully diverted nearly 3.5 million pounds of annual waste from the local landfill while the Mount Pleasant facility has diverted more than 2 million pounds. West Liberty Foods is aggressively working towards that goal in its West Liberty, Iowa, facility as well.

West Liberty Foods also built the Hearts & Hands Children's Academy in Tremonton as a way to provide day care, as well as educational activities and programming, for children from 6-weeks of age through 12-years-old.

About West Liberty FoodsWest Liberty Foods is a leading co-packer, private label manufacturer, and foodservice supplier of sliced deli meats and fully cooked IQF products. They supply products to many well-known retail and foodservice chains nationwide. In 2004 they became the first turkey processing facility to become ISO 14001:2004 Certified. (www.wlfoods.com)

About SUBWAY RestaurantsThe SUBWAY restaurant chain is the world's largest franchise, with more than 37,000 locations in 100 countries. Headquartered in Milford, Connecticut and with regional offices in Amsterdam, Beirut, Brisbane, Miami and Singapore, the SUBWAY franchise was co-founded by Fred DeLuca and Dr. Peter Buck in 1965.

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West Liberty Foods Honored By SUBWAY® As Top Vendor

Posted: Aug. 12, 2012 | 2:02 a.m.

After watching his team strike out 13 times in a loss Friday night, Liberty baseball coach Mike Eshragh wanted to see his players execute better at the plate Saturday.

The Patriots did that, and then some.

Liberty pounded out 20 hits on its way to a 23-9, seven-inning victory over Albuquerque (N.M.) to stave off elimination in the American Legion Western Regional at Fairfield, Calif.

"We struck out 13 times at the plate (Friday) night. That doesn't happen to us," Eshragh said of his team's 9-6 loss to Fairfield. "Responding today with a good offensive output shows these kids know how to make adjustments quickly. It was good to bounce back."

Liberty (28-9) is one of four teams remaining in the double-elimination regional. The Patriots will play Lakewood (Calif.) at 3:30 p.m. today.

The Patriots led 9-0 after two innings, but Albuquerque scored three runs in the fifth to pull within 13-7. But Liberty scored 10 runs in the bottom of the inning to put the run rule into effect.

Liberty's Jay Martz went 4-for-5 with four runs and two RBIs, and Michael Vargas was 3-for-4 with four RBIs.

Jesse Keiser went 3-for-5 with three runs and two RBIs for Liberty. Teammates Daniel Skelly, Nate Bennett and Marcos Rivera added two hits each. Skelly drove in four runs and Bennett three.

"We got to the field a little bit earlier today and had a little bit extra cage time," Eshragh said. "The players knew what was on the table, and we responded right away."

Excerpt from:

Liberty Pounds Out 20 Hits, Stays Alive At Legion Regional

Posted: Aug. 11, 2012 | 2:02 a.m.

Liberty's American Legion baseball team brought the potential winning run to the plate in the ninth inning Friday, but consecutive strikeouts ended the game as the Patriots lost 9-6 to host Fairfield, Calif., in the Western Regional.

Jesse Keiser's two-run triple cut the lead to 9-6, and Daniel Skelly and Chris Bradford walked to load the bases. Fairfield reliever Kyle Wagner then struck out Griffin Kelly and Joe Maurer.

Liberty trailed 9-1 before Keiser belted a three-run homer in the seventh inning to get the Patriots going. Liberty's other run came in the third on an RBI single by Michael Vargas.

The Patriots fell behind 4-0 after two innings. Fairfield scored a run in the first, then got a two-run triple by Wagner and an RBI triple from Michael Brown in the second.

Fairfield added four runs in the sixth on two hits, as Liberty pitchers walked four and the Patriots made an error.

Keiser was 2-for-5 with five RBIs, and Vargas and Jay Martz each went 2-for-4. Vargas scored twice.

Liberty (27-8) plays Albuquerque, N.M., at 3 p.m. today in an elimination game.

LITTLE LEAGUE - Cheyenne-North Las Vegas fell behind 10-0 after 3 innings and couldn't recover in a 10-4 semifinal loss to Northern California representative Petaluma in the Little League West Regional in San Bernardino, Calif.

Cheyenne, the No. 4 seed, nearly was ousted on the 10-run mercy rule, but extended the game with a run in the fourth against top-seeded Petaluma.

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Liberty Comeback Falls Short In Legion Regional Loss

Aaron Parker and his girlfriend Mabel Larsen were living in a filthy home in rural Liberty County. He was on probation for a 2009 child abuse case and had multiple Child Protective Services court filings.

Aaron Parker and his girlfriend Mabel Larsen were living in a...

Authorities remove dogs from a Liberty County home in the 100 block of County Road 2802 is seen Wednesday, Aug. 8, 2012, in Cleveland, Texas. 15 dogs and two horses were removed from the home after a sheriff's deputy discovered a child living in filthy conditions while investigating reports of animal neglect at the home authorities said. Authorities also found a dead horse about 7 p.m. on Tuesday in the backyard of the trailer home and also spotted several other emaciated animals, including dogs that weren't moving, on the property, Liberty County sheriff's officials said. Photo: Cody Duty, Houston Chronicle / 2011 Houston Chronicle

Authorities remove dogs from a Liberty County home in the 100 block...

Authorities remove dogs from a Liberty County home in the 100 block of County Road 2802 is seen Wednesday, Aug. 8, 2012, in Cleveland, Texas. 15 dogs and two horses were removed from the home after a sheriff's deputy discovered a child living in filthy conditions while investigating reports of animal neglect at the home authorities said. Authorities also found a dead horse about 7 p.m. on Tuesday in the backyard of the trailer home and also spotted several other emaciated animals, including dogs that weren't moving, on the property, Liberty County sheriff's officials said. Photo: Cody Duty, Houston Chronicle / 2011 Houston Chronicle

Authorities remove dogs from a Liberty County home in the 100 block...

Captain Rex Evans of the Liberty County Sheriff's Department speaks to the media after authorities removed 15 dogs and two horses from a Liberty County home in the 100 block of County Road 2802 Wednesday, Aug. 8, 2012, in Cleveland, Texas. A sheriff's deputy discovered a child living in filthy conditions while investigating reports of animal neglect at the home authorities said. Authorities also found a dead horse about 7 p.m. on Tuesday in the backyard of the trailer home and also spotted several other emaciated animals, including dogs that weren't moving, on the property, Liberty County sheriff's officials said. Photo: Cody Duty, Houston Chronicle / 2011 Houston Chronicle

Captain Rex Evans of the Liberty County Sheriff's Department speaks...

Authorities remove dogs from a Liberty County home in the 100 block of County Road 2802 is seen Wednesday, Aug. 8, 2012, in Cleveland, Texas. 15 dogs and two horses were removed from the home after a sheriff's deputy discovered a child living in filthy conditions while investigating reports of animal neglect at the home authorities said. Authorities also found a dead horse about 7 p.m. on Tuesday in the backyard of the trailer home and also spotted several other emaciated animals, including dogs that weren't moving, on the property, Liberty County sheriff's officials said. Photo: Cody Duty, Houston Chronicle / 2011 Houston Chronicle

Authorities remove dogs from a Liberty County home in the 100 block...

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Man arrested in Liberty County case involving filthy home

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Liberty Ross Wants To Reconcile With Rupert Sanders ‘For The Kids’

The malnourished animals found packed inside a Liberty County home, where 15 dogs, two horses and a 1-year-old baby were discovered living in filth this week, are getting medical attention as they await future court proceedings to decide their fate.

On Tuesday evening , a 1-year-old baby was found in a dirty, hot house after Liberty County Sheriff's Office officials responded to an animal cruelty report at 105 County Road 2802 in Cleveland. A horse was found dead and other sickly animals were found on the property.

The Houston SPCA rescued the dogs, four of which were puppies, and two horses from the property on Wednesday. Tara Yurkshat, Houston SPCA vice president of animal welfare, said Thursday that each animal is now on an individual medical plan. Many were under-weight, some were heart-worm positive and many had general eye and skin infections. One of the recovered horses has an injury to a hoof.

The animals were visibly underfed when the crews took them from the house, which reeked of a foul stench, with their ribs showing.

Read more: Couple from filthy home on probation over kids

The SPCA is taking care of the animals, now considered wards of the state, while the courts decide the fate of the animals. They are not available for adoption at this time.

"Basically, we are their caretakers until we know the next step for them," Yurkshat said. "They are resting, comfortable, getting food and water and TLC. That's what they really need."

The little girl was also found in the rural house, among trash, roaches, drinking from a dirty bottle with spoiled milk. Her parents were already on probation for a previous injury to a child charge, and had five children taken from their care.

Captain Rex Evans with the Liberty County Sheriff's Office said deputies still consider the child's father Aaron Parker a person of interest and would like to talk to him about the house and his baby. Parker is not considered a suspect at this time. The child's mother Mabel Larsen is in custody facing an animal cruelty charge, with additional charges pending.

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Neglected dogs, horses found at Liberty County home recovering

Liberty Media Corp., a Centennial-based holding company, announced Wednesday that it will spin off its Starz cable channels into a separate company, immediately stirring questions about the company's future in the Denver area.

The separation should be completed by the end of the year, creating a new, publicly held company.

"I think in this market, people always like pure plays," said Matt Harrigan, a Denver-based analyst for Wunderlich Securities. "It just makes sense to keep them different and separate."

The separation is meant to accomplish several goals, including greater clarity for investors regarding the business operations of Starz, improving its capital structure, and creating two "currencies" that can be used for acquisitions, said Greg Maffei, president and chief executive of Liberty.

Seeking to quell rumors of a major shift toward Los Angeles, Starz told The Denver Post that the split will not affect its operations at the Denver location.

Maffei also hopes that this move will produce greater liquidity for Liberty Media as it attempts to buy up more stock in the satellite radio broadcaster SiriusXM and the events promoter Live Nation, further increasing ownership in those companies.

Liberty Media expects the spinoff to be tax-free for its stakeholders.

Starz will consist of 100 percent of Starz LLC, about $1.5 billion in debt, and a yet-to-be determined amount of cash.

Chris Albrecht, currently the CEO of Starz LLC, will remain in his position.

"I think they're very committed to Chris Albrecht and what he can do," Harrigan said.

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Liberty Media and Starz to become separate companies

TORONTO, ONTARIO--(Marketwire - Aug. 8, 2012) - Liberty Silver Corp. (LSL.TO)(LBSV) ("Liberty Silver" or the "Company") is pleased to announce that it has entered into a binding agreement (the "Agreement") with Primus Resources, L.C. ("Primus") to acquire approximately 100 acres located adjacent to the former Trinity Silver mine on the Company's Trinity property in Nevada (the "Hi Ho Properties"). The Hi Ho Properties are the only acreage not controlled by Liberty Silver or its joint venture partner Renaissance Gold Inc. ("Renaissance") on the Trinity land package.

Under the terms of the Agreement, Liberty Silver will provide cash consideration of US$150,000 and issue 3,000,000 common shares of Liberty Silver stock to Primus. In addition, Primus will be granted a 2% net smelter royalty ("NSR") on future production from the Hi Ho Properties. The total consideration for the acquisition of the Hi Ho Properties will be applied to Liberty Silver's expenditure commitment under its earn-in agreement with Renaissance, upon acceptance by Renaissance, pursuant to the applicable area of interest provisions. With the addition of the Hi Ho Properties payment, Liberty will have contributed in excess of 85% of its required US$5 million expenditure commitment to earn its 70% interest in the project. Pursuant to the terms of its earn-in agreement with Renaissance, the Company has until March 29, 2016 to incur the balance of its expenditure commitment and, in addition, produce a bankable feasibility study in the following year.

"We are extremely pleased to reach an agreement that will result in our mineral claims being included with Liberty Silver's land package at the Trinity Silver property. We have closely monitored their progress to date on the property and we agree with their approach for its development, which we feel has enormous upside potential. Their on the ground mining team is very strong and has a great understanding of the existing resource and the multiple drilling targets independent of the resource zone," said Jim Marin, President of Primus Resources, L.C.

"The Hi Ho Properties are an important addition to our future development plans at Trinity," stated Geoff Browne, Chairman and CEO of Liberty. "Historic data, combined with current modeling indicates that the Trinity deposit extends into the Hi Ho Properties, significantly increasing our current resource potential and the projected economics for bringing Trinity back into production."

The Agreement is subject to regulatory approval and customary closing conditions.

About Liberty Silver Corp.

Liberty Silver Corp. is focused on exploring and developing mineral properties located in North America. The Company is led by a skilled, experienced, management team and board of directors with significant experience managing exploration, development and mining projects. The Company is committed to creating value for its shareholders by advancing its current projects utilizing its mitigated risk approach to production, developing new resources on its current properties, and by acquiring new properties that have the potential to increase their resource base. The Trinity Silver project, located in Pershing County, Nevada is the Company's flagship project. Liberty Silver has the right to earn a joint venture interest in the 10,476 acre Trinity property from Renaissance Gold Inc. pursuant to the terms of an earn-in agreement.

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release and in filings made with Securities Regulators. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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Liberty Silver Expands Trinity Land Package with Acquisition of Hi Ho Silver Property

Liberty Interactive Corp., the owner of the QVC shopping channel, on Thursday said that net income fell 9 percent in the latest quarter, compared to a year ago, when it was still joined to Liberty Media.

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Liberty Interactive profit falls 9 percent

TORONTO, ONTARIO--(Marketwire -08/09/12)- Geoff Browne, chairman and chief executive of Liberty Silver Corp. (LSL.TO)(LBSV), issued the following open letter today to shareholders of Sennen Resources Ltd. (SN.V):

Dear Sennen Shareholder:

You will by now have seen the directors' circular issued by Sennen on July 30, 2012, in response to our offer to acquire all Sennen's shares.

While Sennen has repeatedly portrayed our offer as hostile, our first preference remains to conclude a friendly transaction that will benefit the shareholders of both Sennen and Liberty Silver. As we have said from the start, we believe there are compelling reasons for a combination of our two companies.

Your decision whether to accept our offer should be guided by two over-riding considerations:

We are confident that Liberty Silver meets the test on both counts.

Which board and management team deserves your trust?

- Sennen alleged in a press release dated July 27, 2012 that Liberty Silver initiated its offer "without any prior discussion with Sennen management, and consequently, without providing Sennen any prior opportunity to conduct meaningful due diligence on Liberty".

This is a self-serving version of the facts. Our advisors tried for weeks to set up a meeting with Sennen to discuss our proposal, and I tried on numerous occasions to make contact with Ian Rozier, Sennen's chief executive officer, prior to announcing the offer. Liberty Silver's directors and advisors have also tried, so far without success, to contact the Sennen special committee to discuss our offer.

The truth is that we have given Mr. Rozier and his fellow-directors ample opportunity to discuss our offer and conduct due diligence, but they have chosen not to do so. Liberty Silver remains open to negotiations and any due diligence that Sennen may wish to conduct.

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Liberty Silver Corp: An Open Letter to Shareholders of Sennen Resources

Liberty Media says it will spin off its Starz cable programming business.

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Liberty Media plans Starz spinoff

By David Benoit

John Malone and Liberty Media are mobilizing cash for the takeover attempt of the rest of Sirius XM Radio.

The media giant is spinning out its Starz premium-cable channel as way to bring in cash for its satellite radio hopes.

Libertys CEO Greg Maffei says the move will permit us to better pursue our strategic objectives, including creating two currencies that could be used for acquisitions; and create significant liquidity at Liberty Media, which preserves all our options with respect to SiriusXM and Live Nation.

The mechanism will be a dividend of shares of the new company paid to holders of Liberty. Starz will hold $1.5 billion in debt and an undetermined amount of cash, as well as the assets of the cable network.

It is the latest move by Liberty, controlled by the billionaire Malone, who has a history of maneuvering around his media assets and has been public in his quest to land the rest of Sirius he doesnt control.

From Dow Jones colleagues William Launder and Saabira Chaudhuri:

In the past few months, Sirius and Liberty have battled publicly over which company should control the satellite radio company.

Liberty gave Sirius a lifeline in early 2009 with several hundred million dollars in loans; in exchange, Liberty got preferred shares equivalent to a 40% stake in the company. Liberty has since increased the stake to more than 46% and asked the Federal Communications Commission for permission to exercise effective control. Sirius has opposed the FCC application, arguing Liberty hasnt taken concrete steps to get control.

The split will also set up Liberty to further pursue its ownership in concert-promotion giant Live Nation Entertainment Inc., in which it currently owns a 26% stake.

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Liberty Media Spinning Off Starz to Go After Satellites

GREAT NECK, NY--(Marketwire -08/08/12)- One Liberty Properties, Inc. (OLP), an owner of a geographically diversified portfolio of retail, industrial, office and other properties in the United States, primarily under long term leases, today announced operating results for the quarter ended June 30, 2012.

Patrick J. Callan, Jr., President and Chief Executive Officer of One Liberty stated, "During the quarter, the Company continued to execute on its strategy of identifying and completing accretive investments in its effort to maximize value for stockholders. Our network of relationships continues to produce a steady stream of investment opportunities, and we completed approximately $14.3 million of attractive investments year-to-date. We also agreed to sell an asset that will produce a gain for financial reporting purposes of about $15 million, which together with other property sales completed during the quarter, will generate approximately $17.9 million of net proceeds. With the additional capacity on our recently expanded line of credit and available cash, we expect to increase our momentum through the balance of the year."

Operating Results:

Rental income for the second quarter of 2012 increased 6.8% to $11.71 million compared to $10.96 million for the second quarter of 2011. The increase is attributable primarily to rental income earned from the twelve properties acquired beginning March 2011.

Total operating expenses for the second quarter of 2012 were $5.18 million compared to $4.87 million for the second quarter in the prior year.

Net income for the second quarter of 2012 increased by approximately 11.9% to $5.75 million ($0.39 per diluted share), compared to $5.14 million ($0.35 per diluted share) for the second quarter in the prior year. The increase included the impact of a $2.21 million ($0.15 per diluted share) net gain on two property sales in June 2012 compared to a $932,000 ($0.06 per diluted share) gain on a property sale in the second quarter of 2011. The comparable period in 2011 also included a $1.24 million ($0.085 per diluted share) gain on settlement of debt at a discount.

Income from continuing operations was $3.5 million, or $0.24 per diluted share, compared to $4.08 million, or $0.28 per diluted share, in the second quarter of 2011. Included in the prior period results is the gain on settlement of debt at a discount noted above. Income from discontinued operations was $2.26 million, or $0.15 per diluted share, compared to $1.06 million, or $0.07 per diluted share, in the second quarter of 2011. Income from discontinued operations included the gains on dispositions in the second quarter of each period, as noted above.

Funds from Operations:

Funds from Operations ("FFO") was $6.3 million in the second quarter of 2012 compared to $6.7 million in the second quarter of 2011. FFO per diluted share was $0.42 in the second quarter of 2012 compared to $0.46 in the same period in 2011. The comparison of FFO per diluted share quarter versus quarter was impacted due to the inclusion, in the 2011 period, of $1.24 million ($0.085 per diluted share) gain on the settlement of debt at a discount. A reconciliation of GAAP amounts to non-GAAP amounts is presented with the financial information included later in this release.

Acquisitions and Dispositions:

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One Liberty Properties, Inc. Reports Second Quarter 2012 Results

By Jon Lafayette -- Broadcasting & Cable, 8/8/2012 9:07:37 AM Liberty Media Wednesday announced plans to spin off Starz LLC into a separate publicly traded company.

Executives said that spinoff would give investors a better view of Starz' operations while creating added liquidity at Liberty Media.

"The senior Starz team and I are very energized by the decision to make Starz its own independent company. I believe this stand-alone structure is the first step to unlocking the real potential growth opportunities for our businesses," Chris Albrecht, CEO, Starz, said in a statement.

Albrecht said that the company's subscription businesses are running at quarterly highs, Starz achieving 20.7 million subscribers and Encore reaching 34.2 million at the end of the second quarter.

"We continue to add value to the networks with our investment in quality original programming," he said.

Starz' revenue remained unchanged at $403 million for the second quarter, according to Liberty Media's earnings announcement. An increase in revenue for the Starz Channels business was offset by decreases in revenue for the Starz Distribution and Starz Animation businesses.

According to the company, Liberty's board of directors authorized a plan to distribute to the stockholders of Liberty Media shares of a subsidiary that will hold all of the businesses, assets and liabilities of Liberty Media not associated with Starz, LLC. The subsidiary, which would become a separate public company, would be called Liberty Media Corporation, or "New Liberty." The businesses, assets and liabilities not included in New Liberty would be part of a separate public company called Starz. Starz will consist of 100% of Starz LLC, approximately $1.5 billion in debt (assuming full draw down of the Starz bank facility) and an undetermined amount of cash.

The spinoff is intended to be tax-free to stockholders of Liberty Media and its completion will be subject to various conditions, the company said. The spinoff will not require a stockholder vote and is currently expected to occur in late 2012.

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Liberty Media to Spin Off Starz

Ross' ravishing revenge!

On Sunday, Liberty Ross was photographed for one of the first times since director husband Rupert Sanders was caught cheating with his Snow White and the Huntsman star Kristen Stewart.

The British model, 33, emerged in the L.A. area Aug. 5 smiling and holding hands with the adorable kids she shares with Sanders, 41: daughter Skyla, 7, and son Tennyson, 5.

PHOTOS: All the pics from Kristen and Rupert's shocking July 17 fling

The former British Vogue cover girl looked catwalk-slim in skinny jeans, a nearly-sheer T-shirt and leopard-print blouse. Missing from her ensemble? Her wedding ring.

Liberty Ross on August 6, 2012 in California. Credit: NPG.com

One day later, Ross made another public appearance, this times sans kids and looking seriously sexy and no-nonsense in a chic, black business suit and high heels.

PHOTOS: Kristen and Rupert's road to infidelity

How is Ross doing in the wake of Sanders' shocking fling with Stewart, 22? "Liberty is very upset but hasn't made any decisions," a source tells Us Weekly of her 15-year relationship with Sanders. "It's too early to tell what will happen with them."

The brunette (who played mother to a younger version of Stewart's character in Snow White) actually learned of Sanders' betrayal a week before Us Weekly's photos emerged, the source adds. "She was coming to terms with it."

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Stunning Liberty Ross Resurfaces Without Wedding Ring Following Rupert Sanders' Fling With Kristen Stewart

LIBERTY HILL, Texas (KXAN) - Liberty Hill Independent School District is building for its future. The first structures are starting to take shape at the new high school location on the Northwest corner of County Road 277 and SH 29.

The high school campus, which encompasses 95 acres, is just a part of an $86 million bond package passed in 2010. The project also includes upgrades to Liberty Hill's Junior High, Intermediate, and Elementary Schools, but the high school accounts for $61 million.

"Fortunately, people had a good vision as to what's going to happen in the future of Liberty Hill," said Liberty Hill ISD Superintendent Rob Hart. "So, voters approved it."

The high school will hold 1,600 students, which is about twice the current enrollment. But housing development in the area demands expansion.

"40-percent of the available home building lots in the Austin area are in Liberty Hill ISD," Hart added. "So, we're trying to stay ahead of the game."

The building will have 48 classrooms, nine science labs, 10 computer labs, one competition gym and two smaller practice gyms, career and technology classrooms, a band hall, choir room and an auditorium.

In addition, the school's athletic teams will get new facilities. The site will have parking for 1,100 vehicles,a football stadium for 5,000, an 8-lane track, two practice fields, a baseball field and softball field (both with seating for 500), tennis courts and field houses, a weight room and concession stands. The current football field is on the elementary school's campus.

"It's going to be a lot different than going to the elementary school to watch a high school football game," said Liberty Hill resident Tim McIlhaney. "We currently can't seat everybody. I mean, I get there five minutes late, and I can't sit down."

The brunt of funding will come over the next three years, increasing taxes on a $200-thousand dollar home anywhere from $138-188 a year.

"I've been in a lot of West Texas towns, and communities are dying," said McIlhaney. "The mentality is totally different than it is here."

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Liberty Hill builds for the future