First Pursuit Ventures Ltd.
TSX VENTURE : FPV

December 20, 2010 11:20 ET

First Pursuit Announces $1,050,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

First Pursuit Ventures Ltd. (TSX VENTURE:FPV) (the "Company") announces a non-brokered private placement of up to 7,000,000 units (the "Unit") at a price of $0.15 per Unit (collectively the "Financing"). Each Unit will consist of one common share of the Company, (the "Share") and one transferable common share purchase warrant of the Company (the "Warrant") exercisable for a term of five (5) years. Each Warrant will entitle its holder to subscribe for one additional Share at $0.20 per Share for the first year and $0.25 for the remaining four (4) years from completion of the Financing. The Shares, Warrants and any shares issued on exercise of the Warrants will bear a four-month restriction on resale from the completion date. The Financing is subject to regulatory approval.

The Company may pay finder's fees in cash, shares or share purchase warrants or any combination thereof.

Proceeds from the Financing will be used to fund the Company's working capital and for its general expenses.

This news release is not an offer of securities for sale in the United States nor in any other jurisdiction where they may not be lawfully offered or sold. The securities comprising this offering have not been, and will not be, registered under the Securities Act of 1933, (United States) as amended, and may not be offered or sold in the United States absent such registration or an exemption from registration.

ON BEHALF OF FIRST PURSUIT VENTURES LTD.

"Terry Fields"

Terry Fields
President and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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