Full Metal Minerals Ltd.

Full Metal Minerals Ltd.

August 09, 2006 09:01 ET

Full Metal Commences Drilling at 40 Mile Project-Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 9, 2006) - Full Metal Minerals (TSX VENTURE:FMM) is pleased to announce that it has commenced a 1,500 meter diamond drilling and regional exploration program on its recently acquired 40 Mile Project (Doyon Ltd.'s conveyed and selected lands) covering in excess of 800,000 acres, located in Eastern Alaska (see FMM 2006 NR#9). The program will target both sedimentary exhalative (sedex) and structurally controlled zinc-lead-silver prospects.

An initial five drill holes will test the Fish Prospect, located approximately 39 km west of the Taylor Highway near the community of Chicken. Drilling will test an extensive 15 to 23 meter thick gossan that is interpreted to have been derived from intensely leached massive to semi-massive sulphides. The gossan has been traced for 1,500 meters along strike, and over 250 meters of vertical relief.

Drilling will also test the LWM sedex prospect, located six kilometers southwest of Fish. This prospect is typified by and intensely weathered massive to semi-massive sulphide gossan. Prior to drilling, a detailed ground-based gravity survey will refine the drill target.

Full Metal's 2006 exploration program will be supervised by Consulting Geologists Nicholas Van Wyck, CPG and Curt Freeman, CPG of Avalon Developments, a Fairbanks-based mineral consulting group; both are Qualified Persons as defined by NI 43-101. Analysis will be performed by ALS-Chemex Labs of Vancouver, B.C. A sample quality control/quality assurance program is in place.

Exploration Update

Full Metal recently announced additional high-grade gold results from the 100%-owned Lucky Shot Property (see FMM 2006 NR#13 and 14). Two drill rigs currently operating and a third will be added shortly. The 2006 exploration plan includes a minimum 80 hole, 15,000 meter core drilling program.

Two of Full Metal's Joint Venture partners, Metallica Resources and Triex Minerals, have recently completed drilling programs at the Bee Creek Cu-Au-Mo Porphyry and Boulder Creek Uranium prospects, respectively. Assay results are pending and will be announced in late summer. Surface exploration programs are still continuing on both properties.

Initial reconnaissance mapping and sampling programs have recently been completed on three of Full Metal's 100% owned properties: the Moore Creek intrusive related prospect in the Kuskokwim region of west-central Alaska, the Inmachuck structurally-controlled gold and MVT silver-lead zinc project, and the Golddigger epithermal gold-silver belt located north of Full Metal's Lucky Shot Project. Final assay results are currently pending for all three projects, with further work during 2006 contingent on these results.

Mobilization is currently underway to the Kamishak and Pebble South copper-gold prospects, located in southwest Alaska. At Kamishak, Andover Ventures is funding a 750m core drilling program testing an IOCG/breccia-pipe target. At Pebble South, additional CSAMT and IP geophysics are currently planned, to be possibly followed by diamond drilling during the autumn of 2006.

Robert McLeod, P.Geo, Vice-President Exploration for Full Metal Minerals and Qualified Person as defined by NI 43-101 has prepared and approved the information contained in this release.

Full Metal has thirteen active mineral projects in Alaska. Plans for the 2006 field season in Alaska include a minimum of six diamond drill programs totaling $6 million in exploration. The Company has Joint Venture Agreements with Metallica Resources, Triex Minerals Corp., and Andover Ventures. Additionally, the Company is currently reviewing several new opportunities throughout Alaska. Details on Full Metal's extensive Alaska property portfolio can be reviewed at the Company's website at www.fullmetalminerals.com.


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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