Far West Mining Ltd.
TSX : FWM

Far West Mining Ltd.

May 15, 2008 18:16 ET

Far West Extends Copper Mineralization at the Estrellita Deposit in Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - Far West Mining Ltd. (TSX:FWM) is pleased to report the results of the final six drill holes from a reverse circulation drilling program at the Santo Domingo property in Chile carried out in February and March 2008. The drill holes were designed to test the margins of the Estrellita copper deposit (see Figure 1). Drill hole 4a3-339 intersected 126m of 0.39% copper starting at a depth of 26m and contains three higher grade intervals (see Table 1 below). The intercept is significant as it indicates that the main zone of the Estrellita deposit is offset to the south and may continue towards the west, opening the potential for additional tonnage. Additional drilling will be required to determine the full extent of copper mineralization at Estrellita both to the west and east.

The Company also advises that the 43-101 compliant filing supporting the Preliminary Assessment detailed in the news release dated 1 April, 2008 has today been filed on Sedar.

Drill Program

During the period January 23 through March 31, 2008 the company completed twenty-six reverse circulation (RC) holes for a total of 6,464 metres in the Santo Domingo project area. The Company reported results of twenty drill holes in a news release on April 28. The remaining six drill holes are reported in this news release.

Drill Results

Previous drilling on the eastern margin of the Estrellita deposit suggests that the mineralized zone has been offset by faulting to the north. Drill holes 339 through 341 (see Figure 1) were drilled to determine the possible continuation of mineralization towards the west. Drill holes 342 to 344 were drilled to test the southern and northern margins of the deposit.

Drill hole 339 intersected 126m of copper mineralization starting at 26m depth. Grade and character of the mineralization is very similar to the main zone of the Estrellita deposit. The location of drill hole 339 suggests that the main mineralized zone is offset by faulting to the south and may extend further towards the west opening the potential for additional tonnage. Additional drilling is required to trace the mineralization in that direction. Drill holes 340 and 341 intersected narrow mineralized structures at depth. Drill holes 342 and 343 intersected narrow intervals of copper mineralization but appear to define the limits of the main zone in these locations. Drill hole 344 intersected 150m of barren volcanic rock, possibly in a different structural block.

Mineralization at Estrellita remains open on both the eastern and western margin. Additional drilling will be required to determine the full extent of copper mineralization at Estrellita.



Table 1: Drill results from Estrellita

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Drill hole Angle From To Interval Grade
Number (degrees) (metres) (metres) (metres) (% Cu)
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4a3-339 -60 26 152 126 0.39
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incl. 26 48 22 0.58
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and 88 108 20 0.58
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and 128 152 24 0.53
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4a3-340 -60 92 102 10 0.54
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160 164 4 1.37
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4a3-341 -60 150 154 4 0.54
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206 212 6 0.69
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4a3-342 -70 114 120 6 0.57
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4a3-343 -70 0 8 8 0.61
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30 38 8 0.57
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To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/Figure1_Far_West.jpg

Estrellita Deposit

The Estrellita deposit is located on Far West's Santo Domingo Property approximately 100km north of the mining town of Copiapo in Region III of northern Chile. The property hosts the Santo Domingo Sur, Iris and Estrellita copper deposits that contain a combined 2.85 billion pounds of copper. On September 6, 2007, the Company reported an indicated resource for the Estrellita deposit, calculating the tonnage at 31.7Mt of 0.53% copper at a 0.3% copper cut-off. The deposit has not been included in the scoping study for Santo Domingo Sur and Iris (see news release from April 1, 2008) because the style of mineralization at Estrellita is different from the other two deposits. Estrellita contains a copper oxide component that will have to be quantified and characterised before it can be included in plans for future mining operations at Santo Domingo.

Mineralization at Estrellita has been defined over an area of 1000m by 300m along the east west striking Santo Domingo Fault. The copper mineralization occurs in structures, breccias and mantos, hosted by andesitic volcanic rocks. Close to surface, the copper appears in the form of oxides such as brochantite, chrysocolla and copper rich iron oxides with a transition into copper sulphides such as bornite and chalcopyrite at depth. The main zone is centred on a number of old workings where high grade ore has been extracted at surface until very recently. Extensive drilling conducted by Far West (see Figure 1) has extended those mineralized areas to the west and to the east as well as at depth.

Scoping Study

The 43-101 compliant technical report supporting the news release from April 1, 2008 regarding the scoping study for the Santo Domingo Sur and Iris deposits has today been filed on Sedar and is also available on the company website.

Assaying Procedures

A QAQC (quality assurance, quality control) program conducted by Far West consisted of the introduction of standard, duplicate, and blank samples into the sample sequence at regular intervals. Standard samples were prepared by CDN Resource Laboratories Ltd. of Delta, B.C.

Samples were subjected to aqua regia digestion and analysed for 27 elements by ICP-MS (induced coupled plasma mass spectrometry). Atomic absorption was used to determine copper values exceeding 10,000 ppm. Gold was analyzed by fire assay with atomic absorption finish using a 30g pulverized sample. All samples were analysed by ALS Chemex in La Serena, Chile.

The in-house qualified person is Rick N. Zimmer, P.Eng., Chief Operating Officer, Vice President and director of Far West who has reviewed and approved the contents of this news release.

Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties. The Company has current operations in Chile (100% Far West) as well as in Argentina and Australia in collaboration with BHP Billiton.

FAR WEST MINING LTD.

Richard N. Zimmer, P.Eng., Vice - President and C.O.O.

For further information investors should review the Company's filings that are available at www.sedar.com.

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The news release uses the term "indicated resource". The Company advises investors that although this term is recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize this term. Investors are cautioned not to assume that any part of or all of the mineral deposits in these categories will ever be converted into reserves.

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

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