Liberty Silver Shares to Resume Trading on TSX

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2012) - Liberty Silver Corp. (LSL.TO) ("Liberty Silver" or the "Company") announced today that the cease trade orders imposed by the Securities and Exchange Commission and the Ontario Securities Commission have expired. Trading in its shares on the TSX in Canada will resume today, Monday, October 22, 2012. For the present, the Company's stock will not immediately be listed, traded or quoted on any of the OTC Markets. The Company is taking steps to meet requirements necessary to permit its stock to resume trading on the OTCBB. The Company's stock may be traded in the US on the "grey market" or through US broker dealers who have access to the TSX.

The Company advises the investment community that it has never provided any form of compensation to a newsletter writer or anyone else for investment research or to recommend investment in the Company's shares. The Company also advises that it has no contractual or other relationship with Mr. Robert Genovese, BG Capital Group or any other company owned or controlled by Mr. Genovese (the "Genovese Companies") other than a subscription to a private placement in November 2011 by a company controlled by Mr. Genovese. The Company has engaged Spinnaker Capital Markets Inc. and Navigator Ltd. to provide investor relations services for the Company. The Company also confirms that Spinnaker Capital Markets Inc. and Navigator Ltd. do not have, and have never had, a contractual or other relationship with any of Mr. Genovese and the Genovese Companies. In addition, the Company confirms that Mr. Genovese has never had the right to nominate, and has not nominated, an appointee to the Board of Directors of the Company, and the officers and directors of the Company have not had, and have never had, a business relationship with Mr. Genovese concerning the Company.

The Company wishes to advise the investment community that all official information regarding the Company must be derived solely from disclosure documents filed on http://www.sedar.com, http://www.sec.gov and the Company's website (www.libertysilvercorp.com).

"Liberty is pleased to have the trading suspension concluded promptly. Without exception, the Board and management of Liberty take their regulatory responsibilities very seriously and will continue their commitment to full cooperation and transparency with regulators and the market", said Geoff Browne, Chairman and CEO of Liberty Silver.

Trinity Silver Project Disclosure

As a result of a review by staff of the Ontario Securities Commission, we are providing the following information regarding the Trinity Silver Project to clarify our disclosure.

Overview of the Trinity Silver Project

Liberty is focused on exploring and advancing mineral properties located in North America. The Trinity Silver Project, located in Pershing County, Nevada is the Company's flagship project. The Trinity Silver Project is approximately 10,500 acres in size and includes a former producing mine that represents approximately one percent of the geographic extent of the project. Liberty Silver has the right to earn a 70 percent interest in the Trinity Silver Project from Renaissance Gold Inc. ("Renaissance") subject to certain obligations.

The Trinity Silver Project does not contain a mineral reserve and is not currently in production. Any decision to place the Trinity Silver Project into production requires the support of a feasibility study prepared in accordance with National Instrument 43-101. At this time the Company has engaged consultants to prepare a scoping study, also known as a preliminary economic assessment, but a scoping-level study does not have sufficient detail or costing estimates to support a prudent production decision. Accordingly, any decision to commence production on the Liberty Silver Project is neither imminent nor assured, and investors cannot assume that the Liberty Silver Project hosts an economic mine at this time.

Trinity Silver Project NI 43-101 Report

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Liberty Silver Shares to Resume Trading on TSX