Firestone Ventures Inc.

Firestone Ventures Inc.

September 17, 2008 13:53 ET

Firestone Ventures Completes Positive First Round of Metallurgical Testwork on Torlon Zinc-Lead Mineralization

EDMONTON, ALBERTA--(Marketwire - Sept. 17, 2008) - Firestone Ventures Inc. (TSX VENTURE:FV)(FRANKFURT:F5V) has successfully completed an initial phase metallurgical testing of the Torlon Hill zinc-lead project mineralization.

"We are pleased with the initial test results from SGS Lakefield on the Torlon zinc-lead mineralization and are continuing to work with SGS Lakefield on additional metallurgical studies. We are also currently looking at several alternative processing technologies to optimize zinc extraction," says Lori Walton, President of Firestone Ventures Inc. "As predicted, the supply gap for zinc decreased in 2008, but the long term outlook for zinc remains strong and the metallurgical testwork we have commissioned will significantly advance the development of the Torlon project."

A composite metallurgical test sample returning an average grade of 11.3% zinc and 3.97% lead was used for the SGS metallurgical testwork. The mineralized sample responded positively to dense media separation ("DMS") and at a specific gravity of 2.9 it was possible to eliminate 55% of the acid consuming calcium phase in the material with losses of only 5% of the lead and 8% of the zinc. Flotation testwork produced zinc and lead recoveries up to 79% and 82%, respectively. The final lead concentrate grade was in excess of 60% lead. Zinc concentrate grades ranged from 30-40% and additional work is underway to examine options for producing an upgraded zinc product. These tests are preliminary and further optimization of concentrate grades and recoveries are expected. Consulting firm Watts, Griffis and McOuat Limited ("WGM") is overseeing the metallurgical testwork in collaboration with Firestone personnel.

Smithsonite (ZnCO3) is the prevalent zinc mineral at Torlon Hill, occurring as a replacement to limestone, and resulting in high grade mineralization locally exceeding 40% zinc. Other non-sulphide zinc minerals are relatively rare, but minor amounts of a hydrous zinc-carbonate (hydrozincite) and hydrated zinc-silicate (hemimorphite) are seen locally in the weathering zone. The lead-carbonate mineral cerussite is important locally. There is no evidence of deleterious zinc-clay minerals such as sauconite. Traces of sphalerite have been found in a sulphide (mostly galena-pyrite) zone at the base of the deposit. Silver-rich galena veinlets cross-cut the pervasive zinc-replacement mineralization.

Torlon Hill is an intensely oxidized zinc-lead (plus silver) mineralized body hosted in Permian dolostone breccia and limestone. The carbonate unit has been tectonically thrust over a serpentinized basement sequence at the boundary between the North American Tectonic Plate and the Caribbean Plate. The "tectonic crush zone" is pervasively mineralized with thick zones returning in excess of 10% and locally up to 40% zinc. The tectonic setting of Torlon Hill, near the suture between the North American tectonic plate and the Caribbean tectonic plate, is likely the causative factor for mineralization. The area surrounding Torlon Hill has very high potential for hosting additional structurally controlled non-sulphide zinc deposits in addition to conventional Mississippi Valley-Type mineralization.

The zinc-lead (plus silver) mineralization at Torlon Hill is contained within a shallowly southeast-dipping body measuring approximately 400 metres long, 20 to 100 metres wide and up to 30 metres thick. Previous high-grade drill intersections include 25 metres of 26.77% zinc, 1.42% lead, 5.98% silver and 53.3 metres of 9.66% zinc, 1.86% lead and 12.21 g/t silver (see news release dated Oct. 4, 2007). Most mineralization defined by drilling to date occurs on or near surface. The deposit is still open to expansion, mainly to the west and south.

In other news, Firestone is pleased to announce that it has signed a Memorandum of Understanding to acquire 100% interest in certain mineral properties in Guatemala. The company has begun a detailed due diligence program on the properties and additional details will be released upon signing of the Final Agreement.

This news release has been reviewed and approved by J. Cleary, CPG, Qualified Person, Al Workman, P.Geo., Vice President of Watts, Griffis and McOuat Limited and D. Koningen, P.Eng. The road-accessible Torlon Hill project is located 18 kilometres northwest of the city of Huehuetenango, which is situated on the Pan-American Highway in western Guatemala.

Firestone Ventures Inc. is a Canadian-based resource exploration and development company. 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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