Far West Mining Ltd.
TSX : FWM

Far West Mining Ltd.

November 24, 2008 09:30 ET

Far West Mining Intersects 58 Metres of 0.70% Copper at Iris Norte and Resumes Drilling at Santo Domingo in Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2008) - Far West Mining Ltd. (TSX:FWM) is pleased to report the results from Phase 1 of a drilling program carried out during September and October on its Santo Domingo property in Chile. Highlights of the drilling include 58m @ 0.70% Cu and 27.0% Fe at the Iris Norte deposit and 266m @ 28% Fe between the Santo Domingo Sur/Iris deposits.

Drill Program

During the period September 9 through October 30, 2008, eight reverse circulation (RC) holes totalling 2,446 metres were completed in the Santo Domingo project area. The holes were designed to investigate the area between the Santo Domingo Sur and Iris deposits in an attempt to connect the two planned open pits and to extend the newly discovered Iris Norte zone, which was reported in the April 28, 2008 news release.

Iris Norte

Although the drill spacing at Iris Norte is still fairly wide, results from the drill program suggest that mineralization is reasonably continuous. The zone is approximately 200m wide and remains open to the southwest and north. The eastern edge of the mineralized zone is now well defined. A fault separates the zone from a structural block consisting of a limestone-tuff sequence to the east. Copper mineralization is well developed in the south and less continuous in the north. Additional drilling will be conducted to further define extent and continuity of the mineralization in preparation for calculating a resource for the deposit and adding it to the project development plan at Santo Domingo.

Five holes were drilled at the Iris Norte zone. Results are reported in Table 1 and drill locations are depicted in Figure 1. Holes 345 and 346 were drilled in a scissor arrangement to test for continuity of the zone and to clarify its geometry. Hole 345 intersected multiple horizons of iron mantos with associated copper mineralization. The top of hole 346 intersected an unmineralized sequence of limestone and tuff in a different fault block from the one hosting the Iris and Iris Norte deposits (also intersected in hole 347) before entering the mineralized zone. This suggests that the eastern edge of the Iris Norte deposit is defined by a fault that abruptly cuts off mineralization in that direction. Holes 345 and 346 indicate the mineralization is defined over a width of approximately 200m at present and remains open to the west.

Holes 348 and 349 were drilled from the same pad at the northern end of the Iris Norte deposit. Both holes encountered in excess of 100m of clay rich overburden that provided challenging drilling conditions. Both holes intersected iron mantos with scattered pockets of copper mineralization. The zone remains open to the north.

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/fwm1.pdf.



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Drill hole Angle From To Interval Grade Grade
Number (degrees) (metres) (metres) (metres) (% Cu) (% Fe)
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345 -60 56 280 224(i) 0.23 23.7
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incl. 58 94 36(i) 0.41 28.8
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and 120 164 44(i) 0.32 27.0
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and 268 280 12(i) 0.79 27.0
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346 -60 192 250 58(i) 0.70 27.0
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348 -60 120 154 34 - 34.1
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349 -90 126 146 20 0.18 25.5
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190 210 20 30.6
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224 256 32 25.0
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350 -90 52 86 34 0.36 15.8
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351 -90 106 132 26 0.45 17.4
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288 328 40 0.1 31.4
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352 -90 86 352 EOH 266 0.13 28.0
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(i) not true width

Table 1: Drill results from Iris Norte (holes 345-349) and the area
between the Santo Domingo Sur and Iris open pits (holes 350-352).


Santo Domingo Sur/Iris

Three drill-holes were drilled between the Santo Domingo Sur and Iris deposits to test the area between the two planned open pits. All three drill-holes (350, 351, and 352) intersected significant mineralization. Holes 350 and 351 intersected a zone of copper mineralization hosted by andesitic volcanics at a higher stratigraphic position than the main Santo Domingo Sur ore body. The mineralization displays lower iron grades than the main deposits but the combined copper and iron grades are significant and indicate the mineralization extends further to the north.

Hole 352 was drilled in a fault block that had previously been deemed unmineralized. The drill-hole hit one of the longest, most continuous and highest grade iron intercepts on the property by intersecting 266m @ 0.13% Cu and 28% Fe. This intersect indicates that the untested area around hole 352 is prospective and not barren as previously anticipated. The area will be targeted by additional holes in Phase 2 drilling. The presence of high grade iron mineralization in hole 352 is very significant as it may allow the two open pits to be connected in future mine planning.

It is now believed that further drilling will fill in the previously assumed waste area between the two open pits and result in a significant increase to the resource on the property.

A drill rig is now on site and drilling started November 20, 2008. The first priority will be to fill in the area between the Santo Domingo Sur and Iris deposits as indicated in Figure 2, then switch to the Iris Norte area prior to the Christmas break.

To view Figure 2 please click on the following link: http://media3.marketwire.com/docs/fwm2.pdf.

The in-house qualified person is Richard N. Zimmer, P.Eng., Chief Executive Officer, President and a director of Far West who has reviewed and approved the contents of this news release.

Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties in Chile, Argentina and Australia.

FAR WEST MINING LTD.

Richard N. Zimmer, P.Eng., President and C.E.O.

For further information investors should review the Company's filings that are available at www.sedar.com.

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.

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