6th February 2015
ASX ANNOUNCEMENT

Registered Office:

255 Hay St, Subiaco, 6008, WA

+61407737973 Managing Director

+61411558940 Company Secretary

Liberty Resources - Cirrus Networks Record Revenue and Growth

HIGHLIGHTS

 Cirrus Networks - unaudited revenues of $6,053,386 for the half year ending

December 2014 - a record achievement

 Revenue growth rate exceeds 100% in the 6 month period

 Cirrus audited revenues for the full year ending June 2014 of $5,869,723

 Customers include West Australian Police Department, Landcorp, Roy Hill Iron

Ore & Emeco Holdings

Liberty Resources Ltd ("Liberty" the "Company") (ASX Code: LBY) is pleased to provide an update on the performance of Cirrus Networks Pty Ltd for the half year ending December 2014.
Cirrus Networks has recorded unaudited revenues of $6,053,386 for the half year ending December
2014. The record growth continues on from the audited revenues achieved for the full year ending
June 2014 of $5,869,723. This represents a revenue growth rate of over 100% year to date.

Liberty Director Mr Patrick Glovac commented on the result:
"For Cirrus Networks to achieve its entire 2014 financial year revenues in just the first half of the
2015 financial year is an outstanding result and continues to highlight the strength of the business. In an environment where many businesses are seeing growth slowdowns, to have a business which is seeing record revenue year on year is a real benefit to our shareholders."

Transaction

As announced on the 27th January 2015, the company exercised the option to purchase 100% of the
issued capital of Cirrus Networks Pty Ltd ("Cirrus").

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Registered Office:

255 Hay St, Subiaco, 6008, WA

+61407737973 Managing Director

+61411558940 Company Secretary

The consideration for the acquisition involves the initial issue to the vendors of Cirrus of approximately 604,000,000 Liberty ordinary shares, comprising 55.34% of Liberty's issued capital after a proposed minimum capital raising of $3,000,000. If the maximum proposed capital raising of
$5,000,000 is achieved, that percentage will reduce to 49.31%. It is expected that escrow restrictions will be placed on these shares.
There is no cash consideration and the issue of further shares to the vendors of Cirrus as part of the purchase consideration is linked to financial milestones, namely the achievement of annualized revenue of $12 million, the achievement of EBIT of $2 million and the achievement of EBIT of $4 million (over a period of 2 years from settlement in the case of the first milestone, and 3 financial years from settlement in the case of the last two).

About Cirrus

Cirrus is a Western Australian based Information Technology ("IT") solutions integrator which assists both corporations and governments reduce costs and improve IT services. Cirrus has identified revenue and profit growth opportunities across Australia with current and potential clients, who are primarily corporations and government agencies who strive to reduce operating costs and increase profits or services through better use of technology. Cirrus provides and implements state of the art hardware and software systems for its clients.
Cirrus currently has contracts in place with some of Australia's premier companies including Argyle Diamonds, Western Australia Police, Roy Hill Iron Ore, LandCorp, Independence Group NL, Tronox Ltd, Emeco Holdings Ltd and Keystart Home Loans.
Yours faithfully

Andrew Haythorpe
Managing Director
Mr Frank Richmond Cirrus Networks Pty Ltd T: +61 8 6180 4222
F: +61 8 9381 2310
E: [email protected]
www.cirrusnetworks.com.au

Further information on Liberty Resources Limited can be obtained from its web site at www.libertyresources.com.au

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