Firestone Ventures Inc.

Firestone Ventures Inc.

June 15, 2012 13:47 ET

Firestone Appoints New Directors and Chairman and Announces AGM Results

EDMONTON, ALBERTA--(Marketwire - June 15, 2012) - Firestone Ventures Inc. ("Firestone") (TSX VENTURE:FV)(FRANKFURT:F5V), is pleased to announce results from its recent Annual and Special Meeting. Shareholders elected Dr. Keith Barron and Terry Tucker as Directors of the Company. Pamela Strand, Lori Walton and John Kowalchuk were re-elected as Directors. Dr. Keith Barron has been appointed non-executive Chairman. Pamela Strand will continue as President and CEO and Greg Hayes was reappointed as CFO. Ken Powell has stepped down from the Board and the Company sincerely thanks him for his long-time service and contribution.

"We are very pleased to welcome Dr. Keith Barron and Terry Tucker to Firestone's Board of Directors," says Pamela Strand, President and CEO. "We continue to advance our zinc projects in Guatemala with a focus on finding more zinc through the drill testing of multiple new targets such as those at La Luna and Rome properties."

Dr. Barron is an exploration geologist with over 30 years' experience in the mining sector. In 2001 he privately co-founded Ecuador gold explorer Aurelian Resources Inc. and made the Fruta del Norte gold discovery in 2006. The company was bought by Kinross Gold in 2008 for $1.2 billion. In 2008 he was awarded the PDAC's Thayer Lindsley International Discovery Award for his role in the discovery of the Fruta del Norte gold deposit and he was also jointly named the Northern Miner's Mining Man of the Year 2008. Dr. Barron is also founder and Director of U3O8 Corp., exploring for uranium in Colombia, Argentina and Guyana.

Mr. Terry Tucker, P. Geo. has 25 years' experience in mineral exploration and development projects worldwide. Most recently Mr. Tucker was the CEO and Director of Nyota Minerals Limited focused on advancing an advanced stage gold project in Ethiopia. Mr. Tucker was also President & CEO and Director of TSX-listed StrataGold Corporation, where he successfully advanced the exploration and development of two gold projects in both Guyana and Canada before the company's acquisition by Victoria Gold Corp in June 2009.

Shareholders also approved the appointment of Grant Thornton LLP, Chartered Accountants as auditors and re-approved the stock option plan.

Also at the meeting, shareholders voted in favour of the proposed share consolidation. This vote allows management to proceed with the consolidation (maximum of 1 new for 5 old shares) if and when management is of the opinion the consolidation is in the best interest of the Company and the shareholders.

Firestone has assembled a 700 km2 land package in the Guatemala zinc belt, which has seen little modern exploration. The Company is conducting regional exploration programs for zinc-lead-silver mineralization and is currently compiling historical and current data into a single digital database.

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at The Company disclaims any intention or obligation to revise or update such statements unless required by law.

Neither 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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