Full Metal Minerals Ltd.

Full Metal Minerals Ltd.

November 12, 2009 13:28 ET

Full Metal Amends OG Property Agreement and Issues Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) - Full Metal Minerals Ltd. (the "Company") (TSX VENTURE:FMM) announces an amendment for the OG zinc-lead-silver Property in Yukon.

Full Metal Minerals Ltd. and Shawn Ryan entered into a letter agreement dated May 10, 2007 for the OG Property (See Full Metal press release dated May 29th 2007). The parties hereby amend the 2007 Agreement as follows, subject to the approval of the TSX Venture Exchange. The total cash consideration will remain the same, however decreased by $100,000 for the year 2009 and increased by $50,000 in each of the years 2010 and 2011. The total number of common shares of Full Metal required to be issued under the agreement will be increased by 30,000 common shares, such shares to be issued for the 2009 year.

Additionally, Full Metal would like to welcome Darryl Cardey and Shawn Wallace as new directors, elected by the shareholders at the Company's annual general meeting on October 22nd, 2009. Full Metal would like to thank Bruce McLeod and Dave DeWitt for their contributions to the company over the past five years, and wish them well in their future endeavors.

The Company has granted 5,675,000 options at a price of $0.21 to directors, officers, employees and consultants. The options are exercisable for a period of ten years.

Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, Harmony Gold, Mosam Capital, Triex Minerals, and Highbury Projects.


Michael Williams

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of financings and debt settlements, the timing and amount of issuances of securities and the uses of proceeds. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated financings, debt settlements and securities issuances and the uses of proceeds.

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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