Liberty Star Minerals updated its wholly owned Red Rock Canyon Gold Project (RRC) within its Hay Mountain Project in southeast Arizona. The RRC may possess commercially important minerals that believe are associated with porphyry copper-gold-moly geologic structures, well represented in the area from central Arizona to northern Mexico. For the first quarter of 2022 the Company looks to continue progress on permitting and exploration activities at RRC: Arizona State Land Department (ASLD) required archeological and native plant studies (reported 09/13/2021) (the “Studies”) were submitted and are awaiting approval from that agency.

The results of these studies appear routine and within acceptable parameters. It expect approval within the 1st quarter of 2022. State approval of the Studies is required before it can proceed with new ground-based IP (induced polarization) and drilling activities.

Current and ongoing ASLD Mineral Exploration Permit (MEP) maintenance work in lieu of cash payment is required at RRC and Hay Mountain throughout the year. At RRC that work consisted of detailed rock outcrop surface sampling and mapping. the company have posted, and will continue to post, assay results and updated maps to its website for any samples submitted for geochemical analysis.

Both its assessment obligations and claim fee payments are current for all State and Federal parcels. Ground-based IP geophysical work is under contract and expected to proceed immediately upon ASLD approval of the Studies. In the meantime, consulting geophysicist Dr. Jim Fink (Ph.D., P.E., R.L.S.) is re-interpreting multiple geophysical survey data done at RRC in the 1980s and 1990s (RRC Gold Property Technical Report, pp.

15 - 20). This work will continue throughout the first quarter of 2022. The company is optimistic that, at RRC, the existing IP and resistivity data, when subjected to Dr. Fink's re-interpretation, and in conjunction with LBSR's surface sampling program will yield informative data upon which to base detailed, future exploration planning.

As Dr. Fink recommends, “… previously conducted very-low-frequency (VLF) and Z-axis, transient electromagnetics (ZTEM) coverage will also be reviewed to see if the data reliably detects favorable structures.” it expect to have some results in January 2022 with new IP survey work to follow. The new IP surveys, specific for gold, will then be integrated with existing assay and geochemical data acquired from several drillholes already existing in the area.