Firestone Ventures Inc.
TSX VENTURE : FV
FRANKFURT : F5V

Firestone Ventures Inc.

August 19, 2010 07:00 ET

Firestone Ventures Completes Fieldwork on Antelope Zinc-Lead-Silver Project

EDMONTON, ALBERTA--(Marketwire - Aug. 19, 2010) - Firestone Ventures Inc. ("Firestone" or the "Company") (TSX VENTURE:FV)(FRANKFURT:F5V) is pleased to announce the completion of the Phase One surface exploration program consisting of geologic and alteration mapping and rock and soil sampling on the Company's Antelope zinc-lead-silver property 75 km southwest of Eureka, Nevada, U.S.A.

"The field program at Antelope was completed on-schedule. All samples have been submitted to the lab and the field crew is currently exploring other surface zinc-lead-silver showings in Nevada," says Lori Walton, President of Firestone Ventures Inc. "Market conditions for zinc have improved considerably from US$ 0.50/pound in December, 2008 to a current price of US$ 0.95/pound."

A total of 883 soil samples were collected at the Antelope property over a 4 sq. km area on 50 X 100 m spacing. In addition, mapping defined extensive hydrothermal alteration (along north-trending structures over a strike length of 4 km) in addition to zinc carbonate (smithsonite) and minor sphalerite and galena mineralization. A total of 139 rock samples were collected. Sample results are pending. 

Zinc mineralization hosted in lower Ordovician Hanson Creek Formation was discovered on the Antelope property in the 1980's. Reverse circulation drilling took place between 1985 and 1990. Since then, intermittent geologic mapping and geochemical sampling was carried out by various parties. Zinc mineralization (smithsonite with minor sphalerite and galena) is exposed in a 15 m long trench trending east-west and in a series of prospect pits and hydrothermal alteration over a 4 km window of outcropping Paleozoic limestone. Chip samples collected from the bottom of the trench contained from 22.3% to 32% zinc and from 1.51% to 3.0% lead over 15 m (see Jan. 12, 2010 news release).

Zinc mineralization at Antelope is a replacement of carbonate rocks, similar to the Company's Torlon Hill zinc-lead-silver deposit in Guatemala, Central America. Firestone is exploring numerous zinc occurrences in a belt of Permian to Cretaceous carbonate rocks extending over 200 km across Guatemala.

Firestone has an option to earn 100% interest in the Antelope project through Lease Option Agreements signed with two underlying vendors. Firestone has staked an additional 31 mineral claims, bringing the total Antelope land package up to 49 lode mining claims (400 hectares). 

The technical information contained in this document has been reviewed and approved by John Cleary, (CPG), Firestone's Vice President Exploration and Qualified Person as defined by National Instrument 43-101. 

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 www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements, except as required by law. 

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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