Firestone Ventures Inc.

Firestone Ventures Inc.

August 25, 2005 10:54 ET

Firestone Ventures Commences Exploration on Amazing Grace Gold Project

EDMONTON, ALBERTA--(CCNMatthews - Aug. 25, 2005) - Firestone Ventures Inc. (TSX VENTURE:FV) is pleased to announce the commencement of exploration on the Amazing Grace property, located 15 km southeast of Castlegar, in the West Kootenay area of British Columbia, Canada. The property is situated between the Rossland gold camp, which produced 86 million grams gold, and the Nelson gold camp, which produced 16 million grams gold (B.C. Minfile, 2004).

The Amazing Grace property hosts numerous strongly mineralized prospects containing a diversity of commodities, including gold, silver, copper-cobalt, molybdenum and tungsten. Important gold prospects include the "High Grade" showing, with abundant visible gold, and the past-producing "Maude S" prospect with a historical production of 330 oz (10,265 g) gold (B.C. Minfile, 2004). The location of the Maud S prospect was literally "lost" for many decades, until rediscovered by a local prospector in the late 1990s.

In January 2005 the original 32-unit, 800 hectare Amazing Grace property was expanded by approximately 2,950 hectares to its present total of 3,750 hectares (see News Release dated Feb 2/05).

The "Meister" gold showing, approximately 300 m to the northeast of the Maud S and last explored in the 1930s, was rediscovered in May, 2005 (see News Release dated August 11, 2005). The proximity of these two prospects suggests they may be part of a larger continuous mineralized gold system; detailed surface exploration of this area will test this hypothesis.

The Company's field crew has commenced its Phase 1 surface exploration program, including detailed geological and structural mapping of known prospects and "ground truthing" of numerous geochemical anomalies. The goal is the identification of targets for a Phase 2 diamond drilling program.

The Amazing Grace property has excellent road surface access, as well as proximity to electrical power, major highway and rail facilities and the full-service communities of Castlegar and Nelson.

Carl Schulze, PGeo, the Qualified Person for the project, has reviewed and approved the information in this News Release. Firestone Ventures has an option to earn a 100% interest in the property (see News Release dated Oct. 1, 2004). A Fact Sheet on the Amazing Grace gold property, a NI 43-101 Technical Report and previous News Releases on Amazing Grace are available for viewing at

Firestone Ventures Inc. has a portfolio of high quality uranium, zinc, copper and gold properties.

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

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