SOURCE: FinMetal Mining Ltd.

November 13, 2007 08:30 ET

FinMetal Identifies a Nickel Sulphide Zone at Halvala Mine

Drilling to Commence in December

TAMPERE, FINLAND--(Marketwire - November 13, 2007) - FinMetal Mining Ltd. (OTCBB: FNMM) is pleased to announce that a three dimensional compilation of the historical data at its Halvala joint venture is complete, and has successfully delineated a discrete steeply-dipping zone of nickel sulphides that is open at depth. Several historical holes drilled by the Geological Survey of Finland have been surveyed with down-hole electromagnetics (EM) and an airborne EM survey is currently in progress.

After plotting and mapping the extensive archive of historic data, 3-D computer models were generated that provided a better understanding of the Halvala Mine's exploration potential. FinMetal VP of Exploration, geophysicist Steve Balch, designed and supervised the implementation of a US $800,000 airborne and down-hole electromagnetic geophysics (EM) program.

Mr Balch said, "We are highly optimistic that additional zones of nickel sulphides are waiting to be discovered. In fact, our Tainiovarra nickel property, which will soon be flown, is one of our top prospects for developing an open-pit nickel mine. Weather permitting, it as well as other significant targets in the Enonkoski region, will continue to be flown over the next 2 to 3 weeks for the remaining 3000km of a 6000km program, bringing this phase of exploration to completion."

Drilling is scheduled to start in early December. Three proposed drill holes at Halvala will initially target the gap between historic drill holes KRM-HA-29 (0.62% Ni, 0.12% Cu over 4.15 m), KRM-HA-30 (1.95% Ni, 0.40% Cu over 18.64 m), KRM-HA-35B (1.27% Ni, 0.22% Cu over 8.53 m) and KRM-HA-39 (0.62% Ni, 0.59% Cu over 5.49 m). In addition, the zone will be tested at depth where it remains open.

Former Inco VP of Exploration and current FinMetal director, Bob Horn stated, "We consider the Halvala Mine is our best target for the discovery of an ore body that may be placed rapidly into production. This is due to its historic intersections of high-grade nickel and the fact that modern geophysics has never been used to explore the property. The geophysical techniques we are using are particularly effective for nickel sulphide exploration in glaciated terrains and have been used very effectively in all in the major Canadian nickel districts including Sudbury, Voisey's Bay, Thompson and Raglan. At Inco we used our geological knowledge and these same geophysical techniques to discover more than US$2 billion net worth of nickel over a seven year period."

Mr. Horn continued, "We have signed a contract with Finnish-based Suomen Malmi Oy to complete a minimum of 5,000 meters of drilling which we expect will provide us with a first indication of the size potential of the Halvala zone.

On Behalf of the Board:

Daniel Hunter - CEO
FinMetal Mining Ltd.
Finlaysoninkuja 9
FIN-33210 Tampere, Finland
Phone: +358 3 260 4331
Fax: +358 3 260 4330


This release contains forward-looking statements that are based on the beliefs of FinMetal Mining Ltd.'s management and reflect FinMetal Mining Ltd.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of FinMetal Mining Ltd. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.

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