Firebird Resources Inc.
TSX VENTURE : FIX

Firebird Resources Inc.

August 23, 2011 06:00 ET

Firebird Resources Inc. Drills 38.67m of 4.19 g/t Gold on Buzzard Project, South Carolina; Adds Second Rig

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2011) - Firebird Resources Inc. (TSX VENTURE:FIX) is pleased to announce initial drill results from its continuing drill program at its Buzzard project, South Carolina. Drill results from the first hole of a 2000 meter drilling program have been received. Hole FRDDBZ-102 was drilled to a depth of 152 meters to confirm and extend the historic drill results. Mineralization occurs within a heterolithic breccia unit that is well mineralized in historic drilling in nearby holes.

Significant results include:

FRDDBZ-102 From (m ) To (m ) Interval (m ) Interval (feet ) Grade
(grams/ton Gold
) Grade
(OPT Gold
)
1.33 40.00 38.67 116.00 4.19 0.13
including 3.67 15.00 11.33 34.00 11.31 0.36
50.00 70.00 20 60.00 0.69 0.02
75.00 80.00 5 15.00 0.35 0.01
86.67 90.00 3.33 10.00 1.13 0.04
cutoff 0.3 ppm Au
OPT = ounces per short ton
All intervals of mineralized intercepts are apparent thicknesses.

A complete table of results, including a more comprehensive location map and collar map can be found on the company's website, www.firebirdres.com.

Currently, three holes have been completed on the Buzzard project and the second hole has been prepared and sent to the laboratory while the third hole is being logged and prepared. The drill rig has moved to the Jefferson project for a 3 to 4 hole drill program. The drill will then return to Buzzard for another phase of drilling that is currently being planned.

The contractor has notified Firebird that a second rig is now available and that rig will be moved to the Belk project in South Carolina the week of August 22.

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.

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 will be completed by ALS Chemex in Reno, Nevada.

We seek Safe Harbor.

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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