LIBERTY SILVER ANNOUNCES RESULTS OF ANNUAL SHAREHOLDER MEETING

Toronto, ON — December 21, 2012: Liberty Silver Corp. (TSX: LSL) ("Liberty" or the “Company”) announced today that it held its annual general meeting of shareholders at  the Toronto Board of Trade  in Toronto, Ontario.  All the items outlined in the Company’s proxy materials (see press release dated November 28, 2012) were approved and the following directors were elected at the Meeting: R. Geoffrey Browne (President and CEO of Liberty), W. Thomas Hodgson, George Kent, John Pulos and Timothy Unwin (Chairman of the Board of Liberty).

Following the business portion of the meeting, Messrs. Browne and Unwin responded to questions from shareholders and provided a short update on the Company’s activities at the Trinity Silver project in Nevada.  Mr. Browne reported that the Company is currently working with its engineering consultants to update its December 2011 NI 43-101 technical report on the Trinity Silver Project. A further announcement will be made upon completion of the updated resource calculation.

About Liberty Silver Corp.

Liberty Silver Corp. is focused on exploring and advancing mineral properties located in North America. Liberty Silver is led by a skilled, experienced management team and board of directors with significant experience managing exploration, development and mining projects. Liberty Silver is committed to creating value for its shareholders by advancing its current projects utilizing its mitigated risk approach to developing new resources on its current properties, and acquiring new properties that have the potential to increase their resource base.  The Trinity Silver Project, located in Pershing County, Nevada, is Liberty Silver’s flagship project.  Liberty Silver has the right to earn a joint venture interest in the 10,940 acres Trinity property pursuant to the terms of an earn-in agreement with Renaissance Gold Inc.

Information on the Company is available on the Company’s website www.libertysilvercorp.com, or in the SEDAR and EDGAR databases.

For Additional Information

Manish Z. Kshatriya, Executive VP & CFO

(888) 749-4916

mkshatriya@libertysilvercorp.com

Kevin O’Connor, Investor Relations

(416) 962-3300

ko@spinnakercmi.com

Cautionary Statements

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this News Release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 This News Release includes certain “forward-looking statements”. These statements are based on information currently available to Liberty Silver and Liberty Silver provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that Liberty Silver’s future plans, objectives or goals, including words to the effect that Liberty Silver or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of Liberty Silver’s mineral properties, and Liberty Silver’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Liberty Silver’s activities; and other matters discussed in this News Release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Liberty Silver’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Liberty Silver’s forward-looking statements. Liberty Silver does not undertake to update any forward-looking statement that may be made from time to time by Liberty Silver or on its behalf, except in accordance with applicable securities laws.