First Metals Inc.

First Metals Inc.

June 25, 2008 09:42 ET

First Metals Completes Magusi Drilling, Initiates Exploration Programs

TORONTO, ONTARIO--(Marketwire - June 25, 2008) - First Metals Inc. (TSX:FMA) is pleased to provide shareholders with the following exploration update.

For the past 2 years, the main focus of the Company was on developing the Fabie copper, gold and silver deposit for production and significantly advancing the Magusi polymetallic massive sulphide deposit towards underground mineral production. Fabie is now successfully producing and Magusi development is progressing according to schedule.

Over the course of the winter and spring, the Company carried out an extensive diamond drill program using four (4) drills at the Magusi deposit. Three (3) of the drills were engaged in a 20,000m detailed delineation drilling program at 20X20m spacings to a depth of 350m from surface, designed to upgrade the Magusi resource estimate and assist in mining method planning. The fourth drill was used primarily to obtain rock competency information pertaining to design of the crown pillar and portal site selection. These programs have been completed and results are pending.

Future exploration programs will be mainly oriented towards discovering additional mineralization on the Company's properties. Since acquiring the initial 73 claim (2,864.5 hectare) land position from Globex Mining Enterprises Inc. (TSX:GMX) in 2006, the Company has staked an additional 108 claims and optioned 17 mining claims in the immediate vicinity of the property, nearly tripling the properties under its control to some 77 square kilometers, (equal to 30 square miles).

A program of geological compilation, surface mapping, diamond drilling and geophysics has been designed to seek other high-grade VMS deposits on the property as well as to test for extensions of the two known deposits, both of which remain open at depth.

Two (2) 450m diamond drill holes have been proposed to test for a vertical extension of the Fabie deposit. Concurrently, underground definition drilling below the 155m level is planned, with a view to adding to reserves and extending the mine life.

Underground drilling will then target a large airborne EM anomaly located in proximity to the mine workings, that has yet to be tested.

A number of other untested anomalies have been identified for follow up evaluation from an airborne EM and Magnetic survey flown over the entire land package last year. These will be prioritized and evaluated over the course of the year.

Company C.E.O Richard Williams commented: "It is very common for VMS deposits to be found in clusters. To date, the principal focus has been on achieving production; now we can start to explore our property holdings.. Over the past year, we have been gathering data and formulating geological models to better understand the geology of the camp. Adding mine life and discovering new orebodies in this rich camp is a very exciting prospect".

Michel Plasse, Geo. and Chief Geologist for the Fabie and Magusi projects, is the Qualified Person pursuant to NI 43-101 who has reviewed and approved the technical content of this release.

First Metals Inc. is a copper producer that is currently profitably producing from the Fabie bay Mine while advancing the Magusi project that contains copper, zinc gold and silver. The Company is listed on the Toronto Stock exchange and presently has approximately 42.8 million shares issued and outstanding.

For further information, please join us at the Annual Meeting on Friday.

We seek safe harbour.

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