Firestone Ventures Inc.

Firestone Ventures Inc.

October 30, 2007 16:54 ET

Firestone Ventures Commences Exploration at Torlon Hill Zinc-Lead Project

EDMONTON, ALBERTA--(Marketwire - Oct. 30, 2007) - Firestone Ventures Inc. (TSX VENTURE:FV)(FRANKFURT:F5V) is pleased to announce that the 2007/2008 winter exploration program is now underway at the Company's Torlon Hill zinc-lead-silver project in Guatemala. The road-accessible Torlon Hill project is located 18 road kilometers northwest of the city of Huehuetenango, which is situated on the Pan-American Highway in western Guatemala.

"We are very enthused with this project, with its excellent zinc and lead metal grades, access to infrastructure and availability of supplies and services. The on-going metallurgical testwork combined with this year's exploration program should greatly facilitate Firestone's ability to advance the project," says Lori Walton, President of Firestone Ventures Inc.

The 2007/2008 exploration campaign has three priority objectives: detailed surveying and soil sampling across the southern and western portions of Torlon Hill; continued expansion and in-fill drilling of the zinc-lead-silver mineralized zone and drill testing of the zinc-lead soil anomaly outlined by last season's geochemistry program.

The 2007/2008 program will consist of 20 to 30 drill holes comprising a total of 1400 metres. A field crew has mobilized to the property and is now conducting ground topographic surveys, soil sampling and preparing drill sites. Drilling will begin in early January through to mid-March, 2008. Geological mapping, sampling, prospecting and environmental baseline studies will continue in conjunction with regional exploration. A total of CDN $1.5 million has been allocated to the program.

Mineralization at the intensely oxidized Torlon Hill deposit consists largely of smithsonite (a zinc carbonate mineral) cross-cut by galena (lead sulphide) veinlets and is 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% 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.

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 and the Independent Qualified Person for the Torlon Project.

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).

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

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