First Metals Inc.

First Metals Inc.

January 30, 2007 09:30 ET

First Metals Announces Bulk Sample Extraction to Commence

TORONTO, ONTARIO--(CCNMatthews - Jan. 30, 2007) - First Metals Inc. (TSX:FMA) is pleased to report that extraction of a 50,000 ton bulk sample from the Fabie Bay Mine, near Rouyn-Noranda, Quebec, is about to commence.

The dewatering of the Fabie Bay Mine open pit has been completed, exposing the massive sulphide ore body. The pit floor has been mucked clean of ice, allowing for mapping of the massive sulphide zone. The A series of approximately 300 holes, 10 meters deep, will be drilled using First Metal's Cubex ITH drill, to allow for the mining of 50,000 to 60,000 tons of open pit ore. It is anticipated that the drill program will take 2-3 weeks to complete. Assay turn-around of the near surface materials is expected to take 2-3 days. Thus, by the middle of February, blasting and extraction could take place.

Concurrently, the dewatering of the underground workings at the Fabie Bay Mine is proceeding. The ramp has been dewatered to the 45 meter level. Inspection of the ramp indicates very good ground conditions. Rock bolts and screens are totally intact. The main ventilation raise has been rehabilitated to the 45 meter level. It is anticipated that underground dewatering should be completed by the middle of February.

Delivery of key equipment and power is nearing completion. Specifically, First Metal's the first Toro 1400 scooptram and a Getman service vehicle will be on site in early February. Hydro Quebec has completed clearing the 31 km power-line and has surveyed the location of the anticipated 560 power poles, with physical installation slated to start shortly. The hydro line to the adjoining Magusi River Deposit is being cut and arrangements are in place to extend the Fabie Bay power line west, to the Magusi River propert at nominal additional cost.

President Brain Ferguson stated: "We are very pleased to report that the progress being achieved at the site continues to meet or exceed expectations. After a long hiatus, there is always concern that ground conditions may have been compromised, but based upon what we are seeing, the work so effectively completed some thirty years ago, has stood the test of time."

First Metals is a TSX listed exploration and development company, focused on advancing the Fabie Bay Mine and Magusi River copper-zinc deposits. There are 30.8 Million shares issued and outstanding.

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