Liberty Mines Inc

Traps - p 124 of McWatters Ni43-101

"At the time of printing, the amount of income tax payable for the duration of the McWatters project is anticipated to be zero."

"No municipal taxes or other levies were considered in the current scope. Liberty has an impairment charge of about $30 million written off from 2008. As a result, Liberty anticipates that they will not be paying tax on the pre-tax cashflow at McWatters."