Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.

April 24, 2008 11:37 ET

Full Metal Acquires Two Extensive Zinc-Lead-Silver Projects, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2008) - Full Metal Minerals Ltd. (TSX VENTURE:FMM) ("Full Metal") is pleased to announce that the Company has entered into two separate Agreements to acquire the Nadaleen CRD (Carbonate Replacement Deposits) and Angie-Cat Sedex Projects in the Yukon Territory.

These new acquisitions compliment Full Metal's extensive portfolio of precious and base metal properties in underexplored regions of Alaska and the Yukon. The Company is planning a comprehensive program of surface mapping, sampling and geophysical surveys to develop drill targets. Full Metal's generative strategy of 'grass-roots' exploration has resulted in discoveries at the Company's 40 Mile and Lucky Shot Properties in Alaska.

Angie-Cat Zn-Ag-Pb Project

Sedex targets at the Angie-Cat Project are located between ten and fifty kilometers of the Robert Campbell Highway, and comprise a trend over 90km long. Massive-sphalerite-galena-barite mineralization is hosted within a sequence of metamorphosed sediments. The tectonic setting of the area is similar to other Sedex deposits in the Yukon and northwest British Columbia.

The Angie and Ross Prospects cover historic occurrences of Sedex mineralization, including trench results of 4.5 meters averaging 8.4% Zn and 98 g/t Ag. To the south of the Angie prospect, a significant soil anomaly (greater than 1,060 ppm Zn) occurs over a 500 meter by 1,000 meter area. At the southeast end of the trend, five historic drill holes were completed at the Nebocat Prospect. Sedex mineralization was encountered in at least three drill holes completed in the late 1970's by Newmont Exploration, including 13.8% Pb, 10% Zn and 66.5 g/t Ag over 0.4 meters, which widens to 4.6% Pb, 9.2% Zn, and 37.3 g/t Ag over 2.3 meters further downdip. A third hole encountered 4.3% Pb and 8.1% Zn over 3.0 meters, located 100 meters along strike.

Nadaleen Zn-Ag-Pb Project

Hosted within platformal carbonate rocks of the Bonnet Plume region of Eastern Yukon, the Nadaleen Project consists of five separate target areas hosting CRD mineralization. Very limited exploration has been performed in the area, with the majority of historic exploration completed by Cominco and various junior companies in the mid-1970's.

At the Corn target, historic drilling from 13 holes in the mid-1970's completed by Cominco, Highhawk Mines and Bow River resources include: 10 meters averaging 7.9% Pb, 14.8% Zn, and 61.7 g/t Ag, and 5.5 meters averaging 13.9% Pb, 1.3% Zn, and 68.6 g/t Ag, while other holes did not intersect mineralization. At least three zones of massive CRD style mineralization have been identified in the area.

The Bar prospects consist of five showings over a reported strike length of 1,400 meters. Work by Harman management in the mid-1970's returned a chip sample averaging 21.5% Zn over a true thickness of six meters. This prospect has never been drilled.

The CYP target covers a mineralized area of sphalerite, galena and barite float that has been traced for over 6,700 meters on surface. Limited drilling results available performed by Cypress Resources include 8.3% Zn over 23.8 meters.

Four main mineralized zones of galena, sphalerite, barite and pyrite were historically identified at the Tara Project Area, covering 12,800 meters of strike length. Limited small-diameter core drilling was completed in eight drill holes, however results are unknown from this work.

Full Metal can earn a 100% interest in the Nadaleen Project from a Third-Party Yukon resident, by paying $200,000 in cash payments ($50,000 first year), issuing 385,000 common shares of Full Metal (50,000 first year), and incurring $2 million in exploration expenditures ($250,000 first year). Following exercise of the option, Full Metal will make annual $25,000 advance royalty payments until commencement of Commercial Production. Full Metal will also issue an additional 50,000 common shares of Full Metal following completion of $5 million in exploration expenditures and a further 150,000 common shares following completion of $10 million in exploration expenditures. Upon commencement of Commercial Production, Full Metal will pay a 2% NSR royalty, of which one half (1%) can be purchased at any time for $2 million.

Full Metal can earn a 100% interest in the Angie-Cat Project from a Third-Party Yukon resident, by paying $200,000 in cash payments ($50,000 first year), issuing 385,000 common shares of Full Metal (50,000 first year), and incurring $2 million in exploration expenditures ($250,000 first year). Following exercise of the option, Full Metal will make annual $25,000 advance royalty payments until commencement of Commercial Production. Full Metal will also issue an additional 50,000 common shares of Full Metal following completion of $5 million in exploration expenditures and a further 150,000 common shares following completion of $10 million in exploration expenditures. Upon commencement of Commercial Production, Full Metal will pay a 2% NSR royalty, of which one half (1%) can be purchased at any time for $2 million.

Drilling will also commence shortly at the Moore Creek Gold Property. Other 2008 drill programs include CJ Property, Lucky Shot Property, Mt. Andrew Property, Pebble South Property, and OG Property. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Triex Minerals, Altair Ventures, and Highbury Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Williams, President and Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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