Firestone Ventures Inc.
TSX VENTURE : FV
FRANKFURT : F5V

Firestone Ventures Inc.

July 17, 2007 09:30 ET

Firestone Ventures Commences Drilling at Sonora Gold-Silver-Copper Project, Yukon Territory

EDMONTON, ALBERTA--(Marketwire - July 17, 2007) - Firestone Ventures Inc. (TSX VENTURE:FV)(FRANKFURT:F5V), is pleased to announce that drilling has commenced at the Company's Sonora gold-silver-copper-molybdenum project, located 110 kilometres northwest of Carmacks, Yukon Territory. The 5,244 hectare (12,952 acre) Sonora property is located within 25 kilometres of a seasonal access road and within 40 kilometres of Sherwood Copper's Minto copper-gold project, currently in production.

Firestone President Lori Walton reports that one diamond drill hole has been completed to date. "We are starting in the Amadeus Zone, at the site of the high-grade gold discovery from the 2006 drill program. We expect to drill a total of 2,400 metres in ten holes. Once again, Kluane Drilling Ltd. of Whitehorse, Yukon will perform the drill program."

Amadeus Zone

A total of seven drill holes will test for extensions of the high-grade gold discovery intercept of 6.21 g/t gold and 3.0 g/t silver across 15.3 metres (open at depth) discovered during the Autumn 2006 diamond drilling program (see news release dated Jan. 15, 2007). This new discovery includes a sub-interval of 12.19 g/t gold and 4.9 g/t silver across 5.0 metres. Other drill intersections from the Amadeus Zone include: 19.9 metres of 0.321 g/t gold and 50.1 g/t silver, and 4.5 metres of 3.60 g/t gold and 14.6 g/t silver. Microphotographs of gold-bearing drill core from the Amadeus Zone have been posted at www.firestoneventures.com. The Amadeus Zone was originally defined by a 700 metre by 250 metre gold-in-soil anomaly. The nearby Wolfgang Anomaly is defined by soil sample values ranging from 453 ppb to 2340 ppb gold with strongly anomalous bismuth and anomalous copper values.

Jupiter Anomaly

Two drill holes will test the Jupiter Anomaly. Two previous drill holes, SG-06-09 and SG-06-10 targeting the Jupiter Anomaly were abandoned due to poor rock conditions. Hole SG-06-09 returned a 1.8 metre intercept grading 1.24 g/t gold in addition to sporadic anomalous gold and consistently anomalous molybdenum values ranging from 5 to 166 ppm.

Gold Vein Zone

This drill hole will target an area of previous (1970's and 1980's), shallow drilling targeting gold-bearing quartz veins near the western limit of the mineralized intrusive body. Previous drilling in the area returned values up to 2.3 g/t gold across 1.0 metres. This proposed hole will test for mineralization at a much greater depth than historic drilling, and is considered an exploratory hole.

The Sonora property is located in the Dawson Range gold-copper-silver-molybdenum mining district in Yukon Territory, Canada. The property was previously explored in the 1970's and 1980's for porphyry copper-molybdenum mineralization and for gold and base metal veins. Placer gold mining has operated periodically on streams draining the Sonora property; angular gold nuggets, tetradymite (a bismuth tellurium mineral), galena and scheelite (a tungsten mineral) were recovered in placer concentrates. No major exploration has occurred since 1985.

This News Release has been reviewed and approved by Carl Schulze, BSc., PGeo., Qualified Person for the property, in accordance with regulations under National Instrument 43-101. Firestone Ventures is earning an 80% interest in the Sonora property. A fact sheet on the Sonora property, photos, a regional location map, and drill hole location map are available at www.firestoneventures.com.

Firestone Ventures Inc. is a well-financed Canadian-based resource exploration and development company with zinc, gold and uranium projects in Western Canada and Central America. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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