Notice of Non-Renounceable Rights Issue

ABN 98 103 348 947

000001 000 LBY MR SAM SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

12 January 2012
Dear Option Holder,

Notice of Non-Renounceable Rights Issue

I am writing to you in relation to your option holding in Liberty Resources Limited ("Company").
The Company has announced the details of a pro-rata, non-renounceable entitlement issue on the basis of one new share for every 5 shares held by shareholders as at 5.00pm on 23 January 2012 ("Record Date"), at an issue price of $0.04 (4 cents) per new share ("Offer").
Pursuant to the terms of the options that were issued to you, the Company is required to notify you of your right to participate in the Offer if you exercise your options prior to the Record Date. Accordingly, please note that in order to participate in the Offer, you will need to exercise your options prior to the Record Date.
Please note, however, that the average trading price of fully paid shares over the 5 trading days ending 10
January is $0.066 (6.6 cents) each. The last sale price of the fully paid shares as at 10 January was $0.066 (6.6 cents).
The Company has lodged the Prospectus for the Offer with the Australian Securities and Investments Commission and with the ASX and it will be dispatched to shareholders shortly. The Prospectus outlines the Offer in detail.
Should you have any queries in relation to this, or your option holding, please contact me on ([phone]. Yours faithfully
Andrew Haythorpe
Managing Director

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