Firestone Ventures Inc.

Firestone Ventures Inc.

February 23, 2012 18:00 ET

Firestone Ventures Clarifies Private Placement Finders Fees

EDMONTON, ALBERTA--(Marketwire - Feb. 23, 2012) - Firestone Ventures Inc. (TSX VENTURE:FV)(FRANKFURT:F5V) wishes to clarify the finders' fees paid in connection with the private placement that closed on February 10, 2012. Firestone raised $655,000 in two tranches: December 21, 2011 and February 10, 2012. Firestone paid arm's-length parties an aggregate of $7,490 and issued 149,800 finder's warrants pursuant to TSX Venture Exchange Policy. The finder's warrants have an exercise price of $0.10 per common share, with 112,000 warrants expiring on December 21, 2012 and 37,800 warrants expiring on February 10, 2013.

The finder's warrants are subject to acceptance by the TSX Venture Exchange and are subject to a four-month resale restriction from date of issuance. The proceeds from the private placement will be used for exploration on existing properties and for general working capital.

Firestone Ventures Inc. is a Canadian-based resource exploration and development company with zinc-lead-silver projects in Central America and Nevada, U.S.A. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).

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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