Far West Mining Ltd.
TSX : FWM

Far West Mining Ltd.

December 15, 2008 17:00 ET

Far West Mining Discovers Polymetallic Mineralization at the Georgetown Project in Queensland, Australia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2008) - Far West Mining Ltd. (TSX:FWM) is pleased to report that the diamond drill program at its Georgetown silver-lead-zinc project in Queensland, Australia has returned very promising results. Drill holes intercepted strong alteration and base metal mineralization over significant widths while surface samples returned high grade base metal and precious metal values. The combination of wide intervals of alteration and mineralization with high grade samples at surface demonstrates the property's potential to host an economic polymetallic deposit. The Company intends to commence a geophysical program in the first quarter of 2009 followed by drilling as soon as weather conditions permit.

Since 2005, Far West Mining ("the Company") has been executing a methodical exploration plan in the Georgetown Project Area in Queensland in the search for Broken Hill Type (BHT) silver-lead-zinc deposits such as Cannington (45 Mt @ 11.9% Pb, 4.8% Zn, 520g/t Ag).

During the period from August to October 2008, the Company conducted field work and a diamond drill program (nine holes for a total of 3,120m) on two of its ten Georgetown tenements. Four holes were drilled in follow-up of the 2007 campaign at the Chudleigh Park tenement and five holes were drilled at the Robin Hood tenement located approximately 100km north of Chudleigh Park.

The drill program at Robin Hood targeted an outcrop of quartz-gahnite rock discovered in 2006. Quartz-gahnite is one of the characteristic "exhalite" rock types around BHT systems that represent the metamorphosed alteration zone around deposits of this style. Detailed mapping and sampling identified several mineralized outcrops that are small and strongly weathered. Some of the outcrops returned high grade base metal and precious metal mineralization in grab samples. The outcrops define a trend of base metal mineralization over an area of 300m by 600m and are interpreted to represent a fold closure (see Figure 1). It is characteristic for BHT mineralization that base metals are separated into different lenses, i.e. lead-(silver) and zinc lodes while copper forms small pods and disseminations throughout the mineralized system. The surface samples and the drilling at Robin Hood exhibit such separation with lead and zinc closely associated and copper offset to the east. Results from selected surface samples are listed in Table 1. The location of these surface samples as well as the layout of the drill holes are shown in Figure 1.

To view Figure 1, please click on the following link: http://media3.marketwire.com/docs/FWMLocationMap.pdf



Table 1 - Surface Sample Results

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Sample Ag Au
Number (g/t) Pb(%) Zn(%) Cu(%) (g/t)
-------------------------------------------------
S1 285 27.7 0.2 0.1 no assay
-------------------------------------------------
S2 341 greater - 0.1 no assay
than
60(i)
-------------------------------------------------
S3 23 0.9 1.3 - no assay
-------------------------------------------------
S4 - - 4.9 - no assay
-------------------------------------------------
S5 11 0.8 1.6 0.1 no assay
-------------------------------------------------
S6 18 0.6 1.5 - no assay
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S7 5 0.5 0.7 0.1 no assay
-------------------------------------------------
S8 46 - 0.2 3.2 0.9
-------------------------------------------------
S9 4 0.1 1.4 0.5 no assay
-------------------------------------------------
S10 17 0.1 0.1 3.5 0.2
-------------------------------------------------

(i) Actual lead content is above upper detection limit of analysis.


Drilling at Robin Hood intersected a sequence of metamorphic rocks such as gneisses, schists and amphibolites that are known to host BHT mineralization. Four of the five holes (GB19-2 through GB19-5) intersected a zone of BHT alteration of approximately 100m thickness. The first hole (GB19-1) drilled underneath the zone because the dip of the strata was impossible to determine from surface showings. The alteration zone consists of characteristic minerals such as gahnite (a zinc oxide), garnet, sillimanite and base metal sulphides. The alteration zone contains various intervals of zinc and copper mineralization as well as characteristic siliceous alteration which is commonly associated with lead-silver lodes of BHT systems.

The presence of high grade lead-silver samples at surface indicates that there is potential for the existence of high value lead-silver lenses along strike or at depth. While the intersected grades of mineralization are low with higher spikes related to massive sulphide bands (core was sampled at uniform one meter intervals). The widths of alteration and mineralization are significant and indicate that the holes may have been drilled close to economic mineralization. The mineralized intervals are listed in Table 2. At the date of this release, assay results from hole GB19-5 were pending, but the zone of alteration and mineralization has been identified visually.



Table 2 - Drill Results

-------------------------------------------------------------
Drill hole Angle From To Interval Grade Grade
Number (degrees) (metres) (metres) (metres) (% Zn) (% Cu)
-------------------------------------------------------------
GB19-2 -50 2 10 8 - 0.12
-------------------------------------------------------------
23 63 40 0.19 -
-------------------------------------------------------------
incl. 27 28 1 1.72 -
-------------------------------------------------------------
and 32 33 1 1.16 -
-------------------------------------------------------------
and 41 42 1 1.54 -
-------------------------------------------------------------
GB19-3 -50 27 56 29 0.13 -
-------------------------------------------------------------
incl. 27 38 11 0.25 -
-------------------------------------------------------------
114 117 3 0.35 -
-------------------------------------------------------------
GB19-4 -50 24 26 2 - 0.12
-------------------------------------------------------------
45 96 51 0.13 -
-------------------------------------------------------------
incl. 45 63 18 0.26 -
-------------------------------------------------------------
and 54 63 9 0.35 0.13
-------------------------------------------------------------
and 88 89 1 1.25 0.18
-------------------------------------------------------------
133 135 2 0.25 -
-------------------------------------------------------------

Note: The metamorphic rocks intercepted in these drill holes
are folded in both micro and macro scale. The mineralization
is situated in an interpreted fold closure making any estimate
of true width very difficult. Based on the most prevalent
angles of foliation to core axis, true width is estimated
to be 70-80% of the reported intervals.


Drilling at Chudleigh targeted favourable structural positions and magnetic anomalies around an interpreted folded dome. The drill holes intersected prospective stratigraphy with moderate alteration but no significant base metal anomalies. The Company now believes that the Chudleigh prospect is located at the eastern edge of the 160km long prospective corridor that is defined by a magnetic trend from the outcropping mineralization in the Einasleigh triangle in the north, through Robin Hood, the Black Soil prospect to the south of Robin Hood, and to the Company's Perryvale tenement and further south.

The Company holds ten tenements in the Georgetown area and in the last two years has identified previously unknown BHT alteration in three separate areas within a prospective corridor of approximately 160km (northsouth) by 90km (east-west). The Company believes that its systematic exploration plan is progressing well with the drilling of alteration in two areas in 2007 followed by mineralized intersections at Robin Hood in 2008. Building on this exploration success, the Company will conduct follow up work in known areas and continue to explore new target areas that have yet to be investigated in detail.

The Company is excited about the drill results at Robin Hood that signify that intersected a previously unknown BHT system. Further drilling is necessary to assess whether the mineralization improves along strike or at depth. The significant width of the alteration and mineralization in conjunction with the high grade samples at surface are encouraging. The Company plans to conduct a geophysical program as early as possible in the first quarter of 2009 to identify drill targets. It is anticipated that drilling will be conducted in the second quarter as soon as weather conditions permit. The Company has contacted several drill companies and does not anticipate any difficulties to contract a drill rig for next year.

Assaying Procedures

Samples were prepared and analyzed at ALS Chemex in Townsville, Queensland, Australia. Samples were subjected to four acid digestion and analysed by ICP-AES. Atomic absorption was used to determine lead, zinc and copper values exceeding 10,000 ppm.

The QAQC (quality assurance, quality control) program consisted of the introduction of standard, duplicate, and blank samples into the sample sequence at regular intervals.

The in-house qualified person is Richard N. Zimmer, P. Eng., Chief Executive Officer, President and a director of the Company 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, Argentina and Australia.

FAR WEST MINING LTD.

Richard N. Zimmer, P.Eng., President and C.E.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 TSX does not accept responsibility for the adequacy or accuracy of this news release.

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