Firebird Resources Inc.
TSX VENTURE : FIX

Firebird Resources Inc.

February 22, 2012 08:30 ET

Firebird Resources Announces Initial Phase of Core Drilling at Buzzard Project with Good Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2012) - Firebird Resources Inc. (TSX VENTURE:FIX) (the "Company" or "Firebird") is pleased to announce that positive results have been received from the initial three holes drilled at the Buzzard project that are part of a 2,000 meter drilling program that include the nearby Jefferson and Belk projects. These results are being further reviewed together with the previous drilling data as part of a planned expanded exploration and drilling campaign for 2012.

Results from the Jefferson and Belk projects will be reported as they become available and will also be used in planning additional exploration programs.

At the Buzzard project, hole FRDDBZ-102 was drilled to a depth of 152 meters to confirm and extend the historic drill results. High grade gold mineralization occurs within a heterolithic breccia unit that is also well mineralized in adjacent historic drill holes. Reported results are based on a cutoff of 0.1 grams/metric ton gold with up to 5 meters of internal dilution. Thicknesses represent intervals within core holes and are apparent thicknesses of mineralization. These were reported in the press release issued on August 23, 2011.

FRDDBZ-102 From
(m)
To
(m)
Interval
(m)
Interval
(ft)
Grade
(g/MT)
Grade
(OPT)
1.2 86.9 85.7 281 1.99 0.058
Including 3.4 13.7 10.3 34 11.31 0.330
93 96 3.0 10 0.15 0.004

Further positive results were received from FRDDBZ-103 which was drilled to a depth of 207.9 meters to confirm and extend the historic drill results. These results were reported in a press release issued on September 7th 2011.

FRDDBZ-103 From
(m)
To
(m)
Interval
(m)
Interval
(ft)
Grade
(g/MT)
Grade
(OPT)
0 13.7 13.7 45 0.48 0.014
29.0 41.1 12.1 40 0.62 0.018
45.7 54.9 9.2 30 1.12 0.033
59.4 62.5 3.1 10 0.34 0.010
67.1 115.9 48.8 160 1.51 0.044
including 70.1 73.2 3.1 10 12.77 0.372
120.9 157.0 36.1 118 6.53 0.190
including 122.2 147.8 25.6 84 6.1 0.178
TD 204.2 207.9 3.7 12 0.5 0.015

The interval from 67.1 to 115.9 meters is composed of a sheared, silicified felsic volcaniclastic unit (breccia).

Mineralization in the interval from 122.2 to 143.3 meters is associated with a hydrothermal breccia derived from epiclastic lithologic units and the heterolithic breccia.

These two mineralized zones are separated by an unmineralized Paleozoic mafic dike.

Hole FRDDBZ-104 was drilled in a felsic volcanic unit with lower gold values and less alteration than the prior two holes. Gold mineralization is present near the contact between the felsic volcanic unit and an epiclastic unit. This contact is a favorable host for gold, but further evaluation and drilling will be required to define higher grade mineralization along this horizon.

FRDDBZ-104 From
(m)
To
(m)
Interval
(m)
Interval
(ft)
Grade
(grams/ton Gold)
Grade
(OPT Gold)
57.9 70.1 12.2 40 0.40 0.012
106.7 112.80 6.1 20 0.29 0.008

These initial drill results from Buzzard are very positive and further drilling is planned in the first half of 2012. Firebird has significant data from previous operators of this exploration project which is being analysed. Currently core review, computer modeling and field studies are being conducted to continue to focus on the higher grade mineralization as well as define drill targets on the remainder of the project areas. The high grade mineralization appears related to intensively sheared structures that follow the same trend as the Haile and Brewer gold mines and onto the Jefferson project.

A map of the drill locations and results will be posted on website (www.firebirdres.com). The hole locations, bearing and angle are as follows:

BUZZARD Lancaster Co., SC
HOLE# Northing Easting Depth(m) Azimuth Angle
FRDDBZ-102 1020042.24 2168660.37 166.1 140 -80
FRDDBZ-103 1019874.76 2168492.06 207.9 140 -80
FRDDBZ-104 1020044.65 2168487.41 272.8 140 -80
Total 646.8
SC NAD 83 Coordinates

QA/QC Sampling and Analytical Protocols

The sampling and assaying of the drill core included QA/QC protocols to monitor for potential contamination, precision and accuracy of results including the regular submission of blank samples and certified reference standards. Samples were assayed using a 30 g fusion with AAS finish by AHK Geochem located in Fairbanks Alaska, a member of the AHK Group, an ISO 17025:2005 accredited geochemical laboratory. Sample preparation was completed in their facility located in Spartanburg, South Carolina. Samples exceeding 3 ppm gold are re-assayed with gravimetric finish and those checks support the results presented above. Check analyses on rejects have been completed by ALS Chemex in Reno, Nevada and there is excellent statistical correlation with initial reported gold values.

We seek Safe Harbor.

The technical information in this release was prepared and approved by Dennis J. LaPoint, a Registered Member of SME, who is a Qualified Person under National Instrument 43-101.

About Firebird

Firebird is a mineral exploration company whose long term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties.

Forward-looking Statements

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding the Company's intention to exercise the option referred to herein and the receipt of necessary regulatory approvals. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, that the Company will choose not exercise the option and those risks relating to changes in the market, potential downturns in economic conditions, fluctuations in the price and supply of raw materials, equipment and skilled labour, fluctuations in the market price of minerals, foreign exchange fluctuations, regulatory requirements and changes thereto, competition, and other risk factors listed from time to time in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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