First Metals Inc.

First Metals Inc.

December 18, 2008 17:22 ET

First Metals Announces Wind Down of Fabie Mine Production

TORONTO, ONTARIO--(Marketwire - Dec. 18, 2008) - First Metals Inc. (TSX:FMA) reports that in light of the continuing decreases in copper prices, it is suspending production over the next eight weeks at the Fabie Mine, near Rouyn-Noranda, Quebec.

Mucking and trucking of existing broken ore will continue until the end of January, following which operations at the mine will be suspended. Milling is expected to continue for a further week. Staff and miner reductions are being made accordingly.

Company President, Richard Williams, commented that "at the current copper prices, the Fabie Mine is simply not sustainable. We very much regret having to make this decision just before the Christmas holidays, and for the staff that is leaving, we would again like to thank them for their support and understanding."

First Metals Inc. has approximately 42.8 million shares issued and outstanding.

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