Firestone Ventures Inc.

Firestone Ventures Inc.

January 18, 2008 16:22 ET

Firestone Ventures Commences Drilling at Torlon Hill Zinc-Lead Project

EDMONTON, ALBERTA--(Marketwire - Jan. 18, 2008) - Firestone Ventures Inc. (TSX VENTURE:FV)(FRANKFURT:F5V) is pleased to announce the commencement of the 2008 winter drilling program at the Company's Torlon Hill zinc-lead-silver project in Guatemala. The $1.8 million approved budget for this year will include 35 to 45 drill holes comprising 3700 metres, soil sampling, prospecting, environmental baseline work and regional exploration.

"We have expanded the scope of our drilling beyond the successes achieved during 2006-2007 which greatly expanded the size of the mineralized zone. To date, less than 30% of Torlon Hill area has been drilled. We are eager to see if the zinc-lead soil anomalies defined to date do reflect buried zinc-lead mineralization that would extend the known zones or are related to new blind zones," says Lori Walton, President of Firestone Ventures Inc.

Drilling will begin with in-fill holes north and directly west of the previously drilled area, then move south to complete expansion holes adjacent to the mineralized zone, and lastly, exploration holes will be drilled to test zinc-lead soil anomalies south of the main area of mineralization.

Results are still pending from soil and rock sampling conducted at Torlon Hill in November, 2007. Metallurgical testing of a 200 kg sampling of Torlon mineralization is underway at SGS Lakefield Research. Final results are expected in early 2008.

Mineralization at the intensely oxidized Torlon Hill deposit consists largely of smithsonite (a zinc carbonate mineral) replacing limestone, cross-cut by galena (lead sulphide) veinlets and contained within a shallowly southeast-dipping body measuring approximately 400 metres long, 20 to 100 metres wide and up to 30 metres thick. Previous high-grade drill intersections include 25 metres of 26.77% zinc, 1.42% lead, 5.98 g/t silver and 53.3 metres of 9.66% zinc, 1.86% lead and 12.21 g/t silver (see news release dated Oct. 4, 2007). Most mineralization defined by drilling to date occurs on or near surface. The deposit is still open to expansion, mainly to the west and south.

The road-accessible Torlon Hill project is located 18 kilometers northwest of the city of Huehuetenango, which is situated on the Pan-American Highway in western Guatemala.

This news release has been reviewed and approved by John Cleary, (CPG) Qualified Person and by Al Workman, P.Geo., Vice President of Watts, Griffis and McOuat Limited.

Firestone Ventures Inc. is a well-financed Canadian-based resource exploration and development company with zinc, gold and uranium projects in Western Canada and Central America. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).

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