Full Metal Minerals Ltd.

Full Metal Minerals Ltd.

May 01, 2008 09:00 ET

Full Metal and Highbury Commence Drilling at Moore Creek Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2008) - Full Metal Minerals (TSX VENTURE:FMM) ("Full Metal") and Highbury Projects Inc. (TSX VENTURE:HPI) ("Highbury") are pleased to announce that drilling has commenced at their Moore Creek gold discovery, located in the Kuskokwim region of West Central Alaska.

During the 2007 field season, the Companies announced new gold discoveries during the trenching programs at Moore Creek (see FMM 2007 NR# -29, November 6, 2007). Full Metal and Highbury are commencing an initial 3,000 meter core drilling program, targeting a 300 meter by 400 meter open-ended area of gold mineralization. This program will test the potential for both a bulk tonnage gold system and high grade vein hosted gold deposit.

The discoveries occur at the headwaters to significant placer gold producing streams - State of Alaska Records (2005) report that Moore Creek has produced over 60,000 ounces of placer gold, often of an exceptionally coarse nature and noted for attached quartz vein rock. Mineralization is located adjacent to a major fault zone, which is also associated with NovaGold/Barrick's Donlin Creek gold deposit (M+I: 29.38M oz; Inf: 17.1M oz; NovaGold News Release Feb 7, 2008) located 90 km to the southwest of the Property.

Gold mineralization is hosted within the Moore Creek pluton, an early Tertiary age monzonite intrusive. The grade and width of gold mineralization as well as alteration intensity identified through trenching increases towards the south. At the Spring Zone, mechanical trenching revealed a 'blind discovery' of sheeted quartz-tourmaline veins with coarse gold and disseminated sulphides. Seven trenches were completed spanning 300 meters of strike length, all of which contained gold mineralization across the full length of the trenches. Highlights include:

- 8.86 g/t Au over 11.0 meters in Trench 20

- 3.36 g/t Au over 4.0 meters in Trench 23

- 2.99 g/t Au over 11.9 meters in Trench 17

- 2.17 g/t Au over 9.3 meters in Trench 18

Mineralization continues below the deeper overburden across strike to the north and south. The Spring Zone is open for expansion to the east, west and south. Steeply dipping sheeted quartz veins range from one to ten centimeters thick, and are hosted within pervasively tourmaline altered and silicified monzonite intrusive rock. A total of 40 samples, the majority of which were channel samples, were taken from the Spring Zone (with grades ranging from 30.15 g/t Au to 0.005 g/t Au, and averaging 2.38 g/t Au).

The Troy Zone is located immediately north of the Spring zone; mineralization has been traced for over 200 meters along strike and is typified by quartz veins with strong coarse gold mineralization within a broad, lower grade zone. One quartz vein has been traced for 50 meters of strike length through trenching. The vein was sampled in three locations. Grades include 88.5 g/t Au over 0.2 meters and 36.0 g/t Au over 0.2 meters within a 3.0 meter channel that averaged 7.6 g/t Au. Wide zones of gold mineralization occur in the Troy zone, including Trench 16 which hosts 33.5 meters averaging 0.62 g/t Au along the full trench length. This trench is the westernmost completed to date.

A total of 177 samples of bedrock and colluvium were taken from a 200 by 200 meter area of the Troy Zone (the majority of which are channel samples). Samples range from 88.53 g/t Au to 0.05 g/t Au, with an average of 0.77 g/t Au. A total of 16 samples assayed over 1 g/t Au, averaging 9.89 g/t Au. Mineralization is open for expansion to the west and east.

Full Metal and Highbury recently completed additional staking, expanding the Property to 24,800 hectares. The Property is located in the historic Iditarod placer mining district, approximately 80 km southwest of McGrath, Alaska. Moore Creek had received minimal modern exploration, and has never been drill tested. An active placer mine is in operation on the property, along with a recreational mining business where large gold/quartz/tourmaline specimens are found with metal detectors. Photos of these specimens and the Moore Creek property can be seen at www.moorecreek.com. Full Metal and Highbury are also planning on additional mapping, sampling, trenching and auger drilling to test multiple other targets on the Property.

Exploration at the Moore Creek Property will be supervised by David Hedderly-Smith, Ph.D., PG, Consultant for Highbury Projects, and Robert McLeod, P.Geo., VP of Exploration and CEO for Full Metal Minerals. Both are Qualified Persons as defined by NI 43-101. Drill cores will be cut in half using a diamond saw, with one half placed in sealed bags, and delivered to Alaska Assay Labs facilities in Fairbanks, Alaska. A sample quality control/quality assurance program is planned. Contents of this release were reviewed and approved for release by Mr. McLeod and Dr. Hedderly-Smith.

Full Metal is a generative exploration Company with multiple Projects in Alaska and the Yukon. Drilling recently commenced at the 40 Mile Zinc-Silver-Lead Project. Other 2008 drill programs include: CJ Property, Lucky Shot Property, Mt. Andrew Property, Pebble South Property, and OG Property. The Company also has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Altair Ventures and Triex Minerals.


Full Metal Minerals Ltd.

Michael Williams, President and Director

Highbury Projects Inc.

Anish Sunderji, CEO and Director

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

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