Liberty Exclusive Partnership with ATEC Rail and Transport Group, QLD

11 January 2010

Liberty Resources Limited (ASX: LBY) (‘Liberty’) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with Australian Transport and Energy Corridor Limited (ATEC).

The objective of the MOU is to finance and jointly develop complementary energy and transportation projects in Queensland. By working together, the Partners believe this will not only enhance the ability to fund large projects in Queensland but will also support the establishment of energy projects that are owned, managed or operated by Liberty.

Foreign investors wishing to fund resource projects in Australia seek both security of supply and security of infrastructure, such as rail. ATEC’s rail infrastructure projects and Liberty’s resource projects will enhance value for Liberty, ATEC and foreign investors alike.

Liberty’s Managing Director, Andrew Haythorpe said, "There is great synergy between Liberty and ATEC, bringing together different skill sets to deliver successful outcomes. After the Global Financial Crisis, Asian based customers have emerged as leading providers of project financing in order to satisfy their thirst for Australian energy. This move enhances our appeal in the eyes of foreign investors and customers alike."

About ATEC - Australian Transport and Energy Corridor Limited (ATEC)

ATEC’s vision is to be a dedicated rail infrastructure company in Australia. ATEC has extensive experience in working with State and Federal Government planning and approval arrangements in railway development.

ATEC is growing its capabilities in below rail services and systems. It is focused on developing rail transport corridors for bulk commodities in Queensland and New South Wales principally in coal transportation corridors of Surat Basin, Galilee Basin and Northern NSW/SE Queensland.

ATEC is an equity participant in the Surat Basin Rail project, its first project was secured under an exclusive mandate. It recently announced the commencement of a pre-feasibility study of the Border Railway, a missing standard gauge open access rail link from Moree (NSW) to Toowoomba (QLD).

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