First Metals Inc.

First Metals Inc.

September 18, 2007 11:48 ET

First Metals Announces Fabie Pit Resource Estimate

TORONTO, ONTARIO--(Marketwire - Sept. 18, 2007) - First Metals Inc. (TSX:FMA), in anticipation of transporting material to the Horne Mill, is pleased to report the internal resource estimate for Bench 030, which will be extracted first from the open pit portion of the Fabie Bay Mine, near Rouyn-Noranda, Quebec.

The measured mineral resource for Bench 030 of the pit is estimated at 99,800 tonnes, grading 2.25% Cu, 0.12% Zn, 0.13 g/t Au, and 8.29 g/t Ag, including 10,563 tonnes of dilution at 0.73% Cu, 0.13% Zn, 0.05 g/t Au and 4.88 g/t Ag.

Robert Michaud, Vice-President Operations, remarked that "using a mill recovery rate of 92 %, this should generate approximately 4.4 million pounds of payable copper after smelting of the concentrates." Copper is currently quoted at U.S. $3.40 /lb Copper.

It should be noted that the increase from previously reported tonnage reflects both an extension of the ore limits and the lower cut-off grade applied to the near surface material, which requires merely blasting, trucking and milling. Based upon this new information, there is no change to the mine's overall inferred resource grade, estimated at 2.77% Cu., as set out in the April 2006, Micon Report.

The new resource estimate was established by 441 percussion drill holes, 4.5" in diameter, completed on a 2.7 metre X 2.7 metre drill pattern. The average depth of the holes was 11.2 metres, for a total of 4,889 metres.

1,640 samples were collected and analysed for Au, Ag, Cu and Zn. Density values were measured on 636 ore samples and 396 waste rock samples. Assaying was performed by Techni-Lab S.G.B. Abitibi Inc. of Ste-Germaine-Boule, near LaSarre. As part of an internal control programme, 5% of the pulps and 5% of the rejects have now been sent to Lab Expert laboratory in Rouyn-Noranda for verification of the original assay results.

The ore block model was calculated using GEMS software, using a 1% Cu cut-off grade. The grade and tonnage of the Bench was evaluated by Kriging, with block model cell dimensions of 1.25m X 1.25m X 1.25m. The average measured density of the ore was 3.8 t/m3 and 2.77 t/m3 for the waste rock. In the absence of a feasibility study, there is no certainty of economic viability.

Michel Plasse, Geo. and Chief Geologist, Fabie & Magusi Projects, is the Qualified Person under N.I.43-101 who has verified and approved the geological content of the release.

First Metals Inc. is bringing into production the Fabie Bay copper deposit and the Magusi River copper and zinc deposits near Rouyn Noranda, Quebec. The Company is listed for trading on the TSX and has approximately 33.5 million shares issued.

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