Liberty Star - XState Resources Ltd. - Elle Uranium Drilling Program to Start February 15, 2007.

TUCSON, Ariz. -- Liberty Star Gold Corp (the "Company"), (OTCBB:LBTS) is pleased to announce that the Elle Joint Venture with XState Resources Limited (ASX:XST) (previously OCR Minerals) has engaged a specialized air rotary drill. This drill is designed so that a true vertical hole can be drilled through the cobbles and boulders of the three targeted uranium bearing collapse breccia pipes without significant deviation. The drill will penetrate to a depth of at least 1,500 feet in each of the three pipes comprising the initial part of the joint venture. Drilling is expected to start on February 15, 2007. It is expected that drilling will take about a month to two months to complete.

The three target Pipes, the Elle, Hola and Hada have been defined by remote sensing, surface geology and surface geophysics - an electrical type specifically called Controlled Source and Natural Source Audiorange Magnetotellurics or CS/NS AMT for short. This geophysical method is able to look down into the earth about four thousand feet and detect conductive zones thought to be associated with mineralization.

The target pipes are closely adjacent to a previously tested pipe held by a third party which reportedly has strongly anomalous mineralization. These breccia pipes are part of the large uranium bearing breccia pipe terrain which occurs on the Arizona Strip lying just south of the Utah border. Eight mines were brought into production during the late 1970s and early 1980s on deposits discovered within the immediate area. The uranium bearing pipes which were mined are the second highest grade uranium mineral deposits in the world and the highest grade in the United States. Previously mined mineralization in these pipes has graded about 0.6% to 0.7% uranium or about 12 to 14 pounds per ton. In addition to uranium they are known to contain copper, zinc, silver, vanadium, cobalt, nickel, molybdenum, gallium, germanium and other metals. Past producers have recovered copper, silver and vanadium as by-products of uranium mining. Advances in hydrometallurgical extraction techniques as well as current high metal prices are important factors in the potential for important metal byproducts or co-products of any defined uranium ore bodies.

Each of the three target pipes will be drilled with the "mother" reverse circulation air rotary hole designed to penetrate the center of the geophysical anomaly which defines the pipe. Downhole electrical geophysics (TEM) will be used to identify additional mineralization within a 200 to 300 foot radius out from the rotary mother holes. Each rotary hole will then be entered by an NQ size (2.2-inch diameter) diamond core drill with which directional "daughter" holes will be drilled toward the mineral targets defined by the downhole geophysics. The budget plans for three mother holes totaling 4,500 feet of reverse circulation drilling with diamond drilling to follow the in-hole geophysics.

This program will be administered by the Company for the joint venture. It is expected to cost less than half of standard drilling approaches and the intention is to define uranium and co-product metal resources in the three pipes to be tested.

Mr. Briscoe was interviewed late last week by CEO Radio Network about Liberty Star Gold and its programs.

Access to the Liberty Star Gold Corp interview is available to registered users of www.ceoradionetwork.com. Click on "Company Webcasts" and register. Registration is free.

ON BEHALF OF THE BOARD OF DIRECTORS

"James A. Briscoe"

James A. Briscoe,

SAFE HARBOR STATEMENT

Statements in this news release that are not historical are forward looking statements. Forward looking statements in this news release include that drilling is expected to start on February 15, 2007 and is expected that drilling will take about a month to two months to complete; that the intention is to define uranium and co-product metal resources in the three pipes to be tested; that the rotary holes will penetrate the center of each geophysical anomaly; that down hole electrical geophysics will be used to identify additional mineralization within a 200 to 300 foot radius out from the rotary holes; that each rotary hole will then be entered by an NQ size (2.2 inch diameter) diamond core drill and directional diamond core holes will be drilled toward the mineral targets defined by the in-hole geophysics; and that it is expected to cost less than half of standard drilling approaches.

It is important to note that the Company's actual outcomes may differ materially from those statements contained in this press release. Factors which may delay or prevent these forward looking statements from being realized include misinterpretation of data; that we may not be able to get equipment or labor as we need it; that we may not be able to raise sufficient funds to complete our intended exploration; that we are unable to agree with our joint venture partners as to the work to be performed; that our application to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment does not work as well as expected; that analysis of data cannot be done accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's most recent 10-KSB and the Company's other periodic reports filed from time to time with the Securities and Exchange Commission.

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