November 16, 2007 10:00 ET

First Narrows Intersects Porphyry-Style Molybdenum-Copper Mineralization at Falls Creek Property, New Brunswick

32 Meter Porphyry-Style Mo-Cu Zone Intersected in Hole #005; Drilling of Hole #006 in Progress

VANCOUVER, BC--(Marketwire - November 16, 2007) - First Narrows Resources Corp. (TSX-V: UNO) and (PINKSHEETS: FNRWF) (the "Company") is pleased to report that ongoing drilling at its Falls Creek Property has intersected a mineralized, altered, structural zone containing disseminated pyrite, molybdenite, and chalcopyrite at depth beneath several narrow zones containing nuggety molybdenite in hole 4717-07-005 in the Dungarvon Granite. Alteration varies from strong to weak through much of the hole. The core is being examined and logged in detail, and samples will be sent for analysis forthwith. Drilling of hole 4717-07-006 is in progress.

Hole 4717-07-005, collared approximately 139 meters east of hole 4717-07-004, inclined at -60 degrees on a bearing of 255 degrees, was drilled to a depth of 422 meters. Coarse nuggety molybdenite up to 1.5 x 0.5 cm was intersected between 51.20 and 51.47 meters in intensely clay altered and saussuritized granite. A massive quartz vein intersected at 360.24 to 360.50 meters contained small veinlets of massive molybdenite parallel to the vein contact at about 30 degrees to the core axis. Fine grained disseminated molybdenite occurs from 390 to 422 meters with associated finely disseminated chalcopyrite, pyrite, and very minor arsenopyrite, in an altered, bleached, quartz flooded breccia or fracture zone. Hole #-005 ended in mineralization and will be deepened following the completion of hole #-006.

The drilling program is producing the first details about the rock types and potential economic mineralization related to the Dungarvon Granite. The intrusive suite of rocks (collectively, the "Dungarvon Granite") consists of granite, alaskite, quartz monzonite, monzonite, and granodiorite. The country rock to the east of the intrusive complex is basalt. The dips of the granite-basalt contact and the mineralized zones are not yet known. The tungsten-molybdenum (W-Mo) and molybdenum-copper (Mo-Cu) systems are open on-trend to the north and south and, perhaps of equal significance, mineralization persists as far west (approximately 160 meters) of the granite contact as the current drilling extends. The Dungarvon Granite is now considered to be well mineralized and to have significant potential for the occurrence of several styles of economic W-Mo and Mo-Cu mineralization.

Hole #-006 is being drilled to intersect (approximately 35 meters vertically below the equivalent zones in hole #-005) both the easterly system of altered granite, greisen, and quartz veins with associated nuggety Mo and W, and the westerly structural system of porphyry-style Mo-Cu mineralization. Hole #-007 will be collared to provide a nearer surface intersection of the porphyry style Mo-Cu mineralization.

There is no record of porphyry style Mo-Cu mineralization having been previously recognized in the Dungarvon Granite. Historical prospecting located W-Mo mineralization in pegmatite and greisen. To the south and to the west of the current area of drilling there are numerous documented mineral showings of base metals, uranium, and gold. First Narrows recently acquired a 100% interest in the majority of these showings through claim staking.

The Falls Creek property now consists of 543 claims, covering 8,688 hectares (21,469 acres), situated 45 kms (28 mi.) southwest of the Company's Chester copper-polymetallic project, and extending from about 25 to 33 kms (15.5 to 20.5 mi.) north of the village of Boiestown in the little-explored regions of New Brunswick's Central Highlands. First Narrows owns, or has the right to earn, a 100% interest in the property.

Earnest Brooks, P.Geo., the Company's Qualified Person, has reviewed and verified the contents of this news release.

About First Narrows Resources Corp.:

First Narrows Resources Corp. (TSX-V: UNO) is a Canadian-based mineral exploration company whose corporate strategy is to develop overlooked and undervalued mineral properties that offer near term production potential. The Company has active projects in the Province of New Brunswick, Canada and in the State of Sonora, Mexico. The most advanced project is the 100%-owned Chester copper-polymetallic deposit in New Brunswick's Bathurst Mining Camp, which is rapidly moving forward to NI 43-101 mineral resource estimate and conceptual mine design status. For more information visit:

"Peter K. Gummer"
Peter K. Gummer, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. We seek safe harbor.

Contact Information

  • For Corporate, Media, or Investor Communications contact:

    Greg Lytle, Communications Manager
    First Narrows Resources Corp.
    N. America toll-free: (866) 285-5817
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    First Narrows Resources Corp.
    Suite 402 - 1228 Hamilton Street,
    Vancouver, BC, Canada V6B 6L2