Firestone Ventures Inc.
TSX VENTURE : FV
FRANKFURT : F5V

Firestone Ventures Inc.

January 11, 2007 09:18 ET

Firestone Ventures Intersects 13.7 Metres Grading 26.6% Zinc at Torlon Hill

EDMONTON, ALBERTA--(CCNMatthews - Jan. 11, 2007) - Firestone Ventures Inc. (TSX VENTURE:FV)(FWB:F5V) is pleased to announce results from the first 13 of 21 drill holes completed to date at the Company's Torlon Hill high-grade zinc project, western Guatemala. All holes intersected zinc-lead-silver mineralization overlying a well defined serpentine basement. The results to date indicate the high-grade zinc mineralization extends approximately 100 metres northwest of the previously drilled area. Also, lower grade mineralization has been identified an additional 75 metres northwest.

Highlights from the drill results include:

- Hole TH06-23 13.7 meters of 26.6% zinc and 4.6% lead

- Hole TH06-25 8.9 meters of 21.6% zinc and 3.4% lead

- Hole TH06-28 15.8 meters of 19.5% zinc and 2.3% lead

Holes TH06-23, 25 and 28 were collared within 25 metres of previous drilled hole TH06-02 (33 metres of 22% zinc). Hole TH06-31 situated 60 metres northwest of previous drilling intersected 9.1 metres of 12.0% zinc. Hole TH06-32 situated 100 metres northwest of previous drilling intersected 3.1 metres of 14.6% zinc. Holes TH06-33, 34 and 35, located up to 175 metres north of the previous drilled holes, returned shorter, lower grade intersections of up to 6.1 metres of 3.1% zinc (Hole TH06-33). Most of the mineralization defined by drilling is exposed on surface or near-surface. Silver values are generally from 15 g/t to 50 g/t, but range up to 109 g/t (TH06-23). A drill hole location map is at www.firestoneventures.com and significant zinc and lead intercepts are summarized in the table at the end of this news release.

Mineralization consists of zinc carbonate (smithsonite) and lead carbonate minerals with minor amounts of lead sulphide (galena). Holes TH06-24, 26, 29, and 31 intersected thin (1 to 2 meter thick) zones of massive pyrite-galena-sphalerite at the bottom of each hole just above the contact with the underlying serpentinite; however, sulphides constitute only a minor portion of total mineralization.

"We are very pleased with the discovery of the northwestern extension of mineralization. We now plan to target southern areas, to continue in-fill drilling and to explore the new lead, zinc and silver zone in the Cinco Hermanos underground workings. We will then move on to the western areas to explore the other side of Torlon Hill." says Lori Walton, President of Firestone Ventures.

The drilling is set to resume in mid-January after the holiday break. The Company will expand its original program of 25 to 30 holes. A total of 938 metres has been drilled to date in the second drill campaign. The winter 2006/2007 drill campaign has three priority objectives: expansion of the mineralized zone, in-fill drilling and improved delineation of deposit geometry. The Company previously drilled 1,441 metres in 22 holes.

Drill core is stored at a secure facility at the Company's offices near the property. After logging and cutting, the samples are placed in secure, sealed fabrene bags and transported by Firestone Ventures staff to the BSI Inspectorate facility in Guatemala City for preparation. Firestone geologists are inserting blanks for quality control purposes. Following preparation, 200-250 grams of pulverized sample is shipped by courier directly to ALS Chemex, North Vancouver, British Columbia, Canada for analysis. Samples are subjected to a 4-acid digestion and are analyzed for 27 elements by ICP-AES. Overlimit zinc and lead analyses are further analyzed by atomic absorption methods, with an upper analytical limit of 30%. Samples which contain in excess of 30% zinc and lead are re-analyzed using titration. This multi-stage analytical procedure ensures that an appropriate analytical method is used to produce reliable data at all concentration levels. It also offers repeat analyses to protect against gross analytical error and confirm metal grades.

Drill hole location maps, previous drill results, a longitudinal section sketch, FAQ sheet and photos are available at www.firestoneventures.com. A National Instrument 43-101-compliant report on the Spring-2006 Drilling Program on the Torlon Hill Zinc Property has been posted on the Company's website and on SEDAR.

The road-accessible Torlon Hill project is located 18 road kilometres northwest of the city of Huehuetenango, near the Pan-American Highway in western Guatemala. Firestone Ventures has an option to purchase a 100% interest in the 16-hectare (39.5 acres) Torlon Hill property from the local property owners and has also acquired the surrounding 134-hectare (331.1 acres) Orbita exploration concession.

This news release has been reviewed and approved by John Cleary, (CPG), Qualified Person for the Torlon Hill project in accordance with regulations under National Instrument 43-101.

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).


Summary of Significant Zinc and Lead Intercepts
(Winter 2006 Drill Campaign)
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Hole No. Total Depth (m) From (m) To (m) Thickness (m) % Zn % Pb
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TH06-23 25.9 0.0 22.9 22.9 11.3 3.4
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Including 7.6 21.3 13.7 26.6 4.6
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TH06-24 44.2 0.0 12.2 12.2 17.2 1.3
--------------------------------------------------------------------
19.8 25.9 6.1 10.1 1.7
--------------------------------------------------------------------
39.6 42.7 3.1 8.0 3.6
--------------------------------------------------------------------
TH06-25 30.5 0.0 3.0 3.0 4.4 3.4
--------------------------------------------------------------------
9.1 18.0 8.9 21.6 3.4
--------------------------------------------------------------------
25.9 29.1 3.2 19.5 9.6
--------------------------------------------------------------------
TH06-26 42.7 13.7 22.8 9.1 16.2 2.9
--------------------------------------------------------------------
37.3 39.2 1.9 14.9 5.6
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TH06-27 54.9 0.0 2.7 2.7 13.1 1.7
--------------------------------------------------------------------
27.4 47.2 19.8 13.2 2.9
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TH06-28 67.1 2.5 7.6 5.1 11.1 3.5
--------------------------------------------------------------------
33.0 48.8 15.8 19.5 2.3
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TH06-29 59.4 6.1 9.1 3.0 10.4 0.5
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25.3 29.7 4.4 3.1 6.5
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44.5 45.7 1.2 4.7 4.3
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51.8 54.9 3.1 14.5 4.5
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TH06-30 39.6 16.8 25.9 9.1 2.3 2.8
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TH06-31 51.8 22.9 32.0 9.1 12.0 5.1
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37.9 40.7 2.8 5.5 7.5
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TH06-32 39.6 30.5 33.6 3.1 14.6 11.0
--------------------------------------------------------------------
TH06-33 21.3 10.4 16.5 6.1 3.1 8.2
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TH06-34 47.2 36.3 39.3 3.0 3.5 1.5
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TH06-35 25.9 20.0 24.0 4.0 1.3 0.1
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Note: Silver values are generally from 15 g/t to 50 g/t, but range
up to 109 g/t (TH06-23).



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