Firestone Ventures Inc.

Firestone Ventures Inc.

June 19, 2009 14:01 ET

Firestone Ventures Announces Private Placement Closing

EDMONTON, ALBERTA--(Marketwire - June 19, 2009) - Firestone Ventures Inc. ("Firestone" or the "Company") (TSX VENTURE:FV)(FRANKFURT:F5V) is pleased to announce that it has closed a non-brokered private placement of 13,500,000 units ("Units") at a price of $0.10 per Unit for aggregate gross proceeds of $1,350,000. Each Unit consisted of one common share of Firestone ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire an additional Common Share at a price of $0.15 at any time within 24 months of issuance.

The Units were sold to qualified purchasers in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The proceeds from the sale of the Units will be used primarily for exploration on existing properties and general corporate expenses. The TSX Venture Exchange has conditionally accepted the private placement.

The Common Shares and Warrants comprising the Units and Common Shares issuable upon exercise of the Warrants are subject to a four (4) month restricted period which expires on October 20, 2009.

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at The Company disclaims any intention or obligation to revise or update such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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