Farallon Resources Ltd.
TSX : FAN
OTC Bulletin Board : FRLLF

Farallon Resources Ltd.

December 19, 2007 08:30 ET

Farallon Updates Drilling at G-9 Deposit: High Zinc & Copper Grades Now Extend to the North Zone; 7 Metres of 29% Zinc & 1.5% Copper in Hole 7691

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2007) - Dick Whittington, President and CEO of Farallon Resources Ltd. (TSX:FAN)(OTCBB:FRLLF) ("Farallon" or the "Company"), is pleased to provide a further update on the core drilling program on the G-9 deposit at the Campo Morado polymetallic (zinc, copper, silver, gold, lead) project in Guerrero State, Mexico. The latest results are all from recent infill drilling in the North zone at G-9. Infill drilling in the North zone is ongoing and is expected to be completed early in the New Year. Drilling has currently been suspended for the Christmas period and will recommence in early January.

The new results are from 15 holes, all of which are from the North zone. Results are included in the Table of Assay Results – G-9 Deposit and hole locations are shown on the G-9 Drill Hole Location Map, both of which are attached. Assays are pending from a further 6 infill holes in the North zone and will be released when received.

Highlights are tabulated below:



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Esti-
mated
Inter- True
Drill From To val Width
Hole (met- (met- (met- (met- Au Ag Cu Pb Zn
Number res) res) res) res) g/t g/t % % %
---------------------------------------------------------------------------
7679 547.30 561.70 14.40 14.14 2.88 256 1.70 1.20 14.45
7679 Incl. 554.70 561.70 7.00 6.87 3.55 342 2.52 1.68 22.36
7689 517.90 527.70 9.80 9.79 3.76 220 1.41 1.47 13.36
7690 547.35 551.70 4.35 4.27 2.72 122 1.97 1.58 24.82
7691 518.30 525.30 7.00 6.96 4.64 311 1.49 1.01 29.27
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The infill drilling program for the North zone is being conducted to enable a new resource estimate for this zone to be prepared. The Company has retained resource estimation experts from the consulting company Behre Dolbear to provide an opinion on the size, grades and categories of the mineral resources at G-9. An updated estimate on the Southeast zone is expected shortly. An updated estimate for the North zone, based on the tighter drill spacing used in this drill program, is expected by the end of January 2008.

President and CEO, Dick Whittington, said: "These results are good news as they reaffirm the grade potential of the North zone. While, in general, the grades of the North zone are not as high as those for the Southeast zone, hole 691 is the highest zinc grade over a significant interval on the G-9 deposit to date. The North zone is a key component of our target mine plans and these intercepts give us confidence that we can successfully infill drill this deposit to measured and indicated status. Our objective is to outline 300 - 500,000 tonnes of measured and indicated resources in this zone to give us added flexibility in any mine plans developed prior to a final production decision.

Once sufficient infill drilling is complete in the North zone in the New Year, we expect to move a drill to the "Abajo" zone - the newly discovered zone north of the San Raphael fault. We continue to be encouraged by the drill results at G-9 and, in the immediate term, will be focusing on adding resources to G-9. In early March, we will expand our exploration efforts by adding a third drill that will focus on untested targets north of G-9, with the goal of advancing our second key corporate objective: finding another G-9-type deposit."

The in-house qualified person for the drilling program and selection of samples for metallurgical testwork at Campo Morado is Daniel Kilby, P.Eng., who has reviewed the contents of this release. ALS Chemex is the analytical laboratory for the project; sample preparation is done in Guadalajara, Mexico and analysis is done in Vancouver, BC. All samples are assayed for gold by fire assay fusion with a gravimetric or Atomic Absorption (AA) finish. Silver, copper, lead, zinc and 27 to 30 additional elements are determined for all samples by acid digestion, followed by an AA or ICP finish. Duplicates are analyzed by Acme Analytical Laboratories in Vancouver.

Farallon is advancing the exploration and pre-development of the G-9 deposit. The Company's 2007 parallel track program has been successful to date. Exploration drilling is expanding the high-grade G-9 deposit, and mine planning and design, equipment acquisition and site preparation activities are also taking place with the goal of beginning production in July 2008. The Company's cash position is US$22.4 held in interest earning current accounts with Scotiabank.

For further details on Farallon Resources Ltd. and its Campo Morado property, please visit the Company's website at www.farallonresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

ON BEHALF OF THE BOARD OF DIRECTORS

J.R.H. (Dick) Whittington, President & CEO

Forward Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. The likelihood of future mining at Campo Morado is subject to a large number of risks and may require achievement of a number of technical, economic and legal objectives, including obtaining lower than expected grades and quantities of mineralization and resources, recovery rates and mining rates, changes in and the effect of government policies with respect to mineral exploration and exploitation, the possibility of adverse developments in the financial markets generally, delays in exploration, development and construction projects, fluctuations in the prices of zinc, gold, silver, copper, lead and other commodities, obtaining additional mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for underground and processing facilities as well as receipt of additional financing to fund mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at Campo Morado and there is no assurance that the mineralization at Campo Morado will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com and the Company's annual report on Form 20-F at www.sec.gov.



TABLE OF G-9 ASSAY RESULTS - DECEMBER 19, 2007

---------------------------------------------------------------------------
Esti-
mated
Inter- True
Drill From To val Width
Hole (met- (met- (met- (met- Au Ag Cu Pb Zn
Number res) res) res) res) g/t g/t % % %
---------------------------------------------------------------------------
7679 547.30 561.70 14.40 14.14 2.88 256 1.70 1.20 14.45
---------------------------------------------------------------------------
7679 554.70 561.70 7.00 6.87 3.55 342 2.52 1.68 22.36
---------------------------------------------------------------------------
7680 409.15 411.05 1.90 1.87 0.06 11 0.53 0.02 6.75
---------------------------------------------------------------------------
7680 415.00 420.00 5.00 4.92 0.06 6 0.71 0.03 5.80
---------------------------------------------------------------------------
7681 547.40 551.40 4.00 3.93 1.94 86 0.46 0.89 2.67
---------------------------------------------------------------------------
7681 558.50 573.65 15.15 14.87 2.28 110 0.59 0.79 2.99
---------------------------------------------------------------------------
7682 561.70 562.70 1.00 0.98 1.02 79 0.72 0.72 5.88
---------------------------------------------------------------------------
7684 502.30 505.00 2.70 2.69 1.58 45 0.72 0.34 8.11
---------------------------------------------------------------------------
7684 520.90 526.00 5.10 5.07 2.36 182 0.95 1.23 3.92
---------------------------------------------------------------------------
7684 536.25 538.00 1.75 1.74 4.24 347 0.93 1.87 15.27
---------------------------------------------------------------------------
7684 540.00 543.00 3.00 2.98 2.17 1166 1.86 0.55 1.91
---------------------------------------------------------------------------
7684 546.00 554.35 8.35 8.30 3.64 286 1.29 1.85 12.51
---------------------------------------------------------------------------
7684 Incl. 546.00 550.00 4.00 3.98 3.78 393 1.28 2.35 17.13
---------------------------------------------------------------------------
7685 521.00 524.00 3.00 2.91 1.42 159 0.85 1.41 6.45
---------------------------------------------------------------------------
7686 523.00 529.15 6.15 6.05 0.28 13 0.46 0.15 4.95
---------------------------------------------------------------------------
7686 531.00 532.00 1.00 0.98 0.52 21 0.39 0.48 8.88
---------------------------------------------------------------------------
7686 537.00 540.00 3.00 2.95 2.13 356 1.04 1.98 7.57
---------------------------------------------------------------------------
7686 552.00 555.00 3.00 2.95 3.15 228 1.68 1.93 12.16
---------------------------------------------------------------------------
7687 471.00 472.00 1.00 0.87 0.18 33 0.89 0.02 5.58
---------------------------------------------------------------------------
7688 556.90 560.70 3.80 3.79 1.72 84 0.41 1.10 6.73
---------------------------------------------------------------------------
7689 501.20 505.60 4.40 4.39 1.51 90 1.42 0.35 12.47
---------------------------------------------------------------------------
7689 517.90 527.70 9.80 9.79 3.76 220 1.41 1.47 13.36
---------------------------------------------------------------------------
7689 533.15 536.15 3.00 3.00 1.86 142 1.59 0.63 8.62
---------------------------------------------------------------------------
7689 538.15 542.15 4.00 3.99 3.78 182 1.28 1.01 8.24
---------------------------------------------------------------------------
7689 546.10 549.75 3.65 3.64 1.06 52 1.49 0.13 7.69
---------------------------------------------------------------------------
7690 547.35 551.70 4.35 4.27 2.72 122 1.97 1.58 24.82
---------------------------------------------------------------------------
7691 513.80 550.95 37.15 36.95 3.12 189 1.16 1.15 11.23
---------------------------------------------------------------------------
7691 Incl. 518.30 525.30 7.00 6.96 4.64 311 1.49 1.01 29.27
---------------------------------------------------------------------------
7691 536.30 538.30 2.00 1.99 2.48 140 0.79 0.70 12.93
---------------------------------------------------------------------------
7691 547.30 550.95 3.65 3.63 2.28 223 2.69 1.22 12.75
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No significant intersections in holes 7678, 7683, 7692


To view the map accompanying this press release please click on the following link:
http://www.ccnmatthews.com/docs/fan1219.JPG

No regulatory authority has approved or disapproved the information contained in this news release.

Contact Information

  • Farallon Resources Ltd.
    Michael Curlook
    Investor Services
    (604) 684-6365 or 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.farallonresources.com