Full Metal Minerals Ltd.

Full Metal Minerals Ltd.

October 04, 2007 09:00 ET

Full Metal Intersects 1.24% Copper, 30.3% Iron and 4.2 g/t Silver Over 22 Meters at Mount Andrew IOCG Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Full Metal Minerals (TSX VENTURE:FMM) is pleased to announce the majority of assay results have been received from its 100% owned Mount Andrew IOCG target, located in southeast Alaska on Prince of Wales Island.

A 13 hole, 1,491 meter drilling program tested multiple copper-iron targets on the Mount Andrew Property by stepping-out from historic workings and from high-grade mineralization encountered during the 2006 drilling program (see January 22, 2007 FMM 2007 NR#3). Multiple zones of high-grade copper hosted within massive magnetite were encountered. Significant results include:

- KMA07-06 22 meters averaging 1.24% Cu and 30.3% Fe
- KMA07-07 57 meters averaging 0.48% Cu and 35.7% Fe
- KMA07-11 14 meters averaging 1.46% Cu and 32.8% Fe

The upper assay limits for iron content received to-date is 50%; assays results for overlimit iron content are pending, as well as gold content for 9 of the 13 drill holes. Strong chalcopyrite-magnetite mineralization occurs locally within wider intervals, including KMA07-06: 4.89 meters averaging 4.45% Cu, 15.25 g/t Ag and 0.89 g/t Au, as well as KMA07-11: 2.95 meters averaging 3.75% Cu, and 12.44 g/t Ag (gold assays pending).

Mineralization at Mount Andrew occurs within a 14 kilometer long trend of historic copper mines, located adjacent to tidewater on the Kasaan Peninsula. Historic production from Mount Andrew and adjacent operations totaled 5,729 tonnes copper, 1.74 tonnes silver and 216 kg gold. This production figure was compiled from historic literature by the U.S. Bureau of Mines, has not been independently verified and should not be relied upon. The Mount Andrew deposit was drilled for iron ore by Utah Construction (Utah International/BHP) in 1957 and 1960-1961 and by Kaiser Resources in 1970-1971.

Drilling completed by Full Metal, coupled with historic drilling results has outlined a minimum 350 meter (north-south) by 300 meter (east-west) area of IOCG mineralization, with a copper-dominant northern zone and an iron dominant southern zone. Multiple zones of mineralization that have never been drill tested occur in the area, the majority of which have never been drill tested. An aggressive drill program is planned for 2008 at Mount Andrew.

The style of mineralization and alteration encountered at Mount Andrew suggests an IOCG (iron-oxide copper-gold) system. Copper mineralization occurs within semi-massive to massive magnetite bodies within andesitic volcanic rocks and associated intermediate intrusive rocks, cross-cut by later post-mineralization dykes. Andestic rocks commonly exhibit tactite-style alteration, coupled with strong sodic and potassic alteration. A complete summary is as follows:

From To Length Au Ag
Hole-ID (m) (m) (m) Cu% Fe% g/t g/t
KMA07-06 1.52 25.63 24.11 0.65 41.94 0.13 2.39
47.50 69.50 22.00 1.24 30.34 0.24 4.25
including 61.57 66.46 4.89 4.45 37.78 0.89 15.25

KMA07-07 6.10 63.15 57.05 0.48 35.68 0.04 1.64

KMA07-08 65.71 69.85 4.14 1.04 22.42 0.17 4.23
91.85 109.5 17.65 0.37 9.64 0.05 1.07

KMA07-09 6.50 20.13 13.63 0.55 25.65 0.18 2.10
36.10 36.98 0.88 4.60 42.70 1.08 18.9

KMA07-10 37.00 62.00 25.00 0.79 22.54 pending 2.87
including 45.02 56.46 11.44 1.24 37.10 pending 3.98
75.34 78.06 2.72 1.30 13.84 pending 3.24

KMA07-11 1.56 5.49 3.93 0.76 50.00 pending 3.46
46.00 60.5 14.5 1.46 32.82 pending 5.80
including 51.55 54.5 2.95 3.75 49.21 pending 12.44
76.50 81.0 4.50 0.38 19.37 pending 2.37

KMA07-12 67.72 100.13 32.41 0.51 20.4.0 pending 3.33
including 69.50 84.00 14.50 0.77 31.00 pending 4.53

KMA07-13 Assays Pending

KMA07-14 27.68 30.50 2.82 0.30 6.24 pending 0.90

KMA07-15 9.14 19.89 10.75 0.50 43.57 pending 1.96

KMA07-16 4.57 8.94 4.37 0.37 27.54 pending 0.76

KMA07-17 33.54 46.49 12.95 0.34 12.69 pending 2.66

KMA07-18 Assays Pending

Drill holes KMA07-08 to 12 were completed in the northern copper-dominant zone, located near historic open cuts and underground workings. Two or potentially three flat-lying zones of massive to semi-massive magnetite and chalcopyrite were encountered. Holes KMA07-06 and 07 were completed in the southern, iron-dominant zone. Drill holes KMA07-14 to 16 tested outcropping massive magnetite/disseminated chalcopyrite mineralization with an associated magnetic anomaly at the Rico prospect, located 400 meters east of the northern zone. Hole KMA07-17 is the northernmost hole completed to date, testing for a potential feeder structure adjacent to a fault zone.

The 2007 exploration program at Mount Andrew Project was supervised by Greg Thurow CPG#3403 (Wyoming) with Alaska Earth Sciences, an Anchorage-based Consulting Group and a Qualified Person as defined by NI 43-101. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags, and delivered to ALS-Chemex Labs facility in Vancouver, B.C. A sample quality control/quality assurance program was implemented.

Robert McLeod P.Geo., VP Exploration for Full Metal Minerals and Qualified Person as defined by NI 43-101 prepared and approved the information contained in this release. Plan maps with drill hole locations can be reviewed at www.fullmetalminerals.com.

Full Metal is a generative exploration company with twelve active projects in Alaska and one in the Yukon Territory. The company currently has six active Joint Venture Agreements. Drill Results are expected shortly from the high grade 40 Mile Zinc-Lead-Silver Project, high grade Lucky Shot Gold Property, CJ Gold Project, Inmachuk Zinc-Lead-Silver Project, and the Boulder Creek Uranium Project.


Michael Williams, President and Director

Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

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

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