Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.

July 15, 2005 09:00 ET

Full Metal Commences Drilling at Lucky Shot Gold Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 15, 2005) - Full Metal Minerals Ltd. ("Full Metal") (TSX VENTURE:FMM) is pleased to announce that it has commenced drilling at the Lucky Shot Gold Project, which is located in the second largest historic lode-gold producing region in Alaska. The initial phase will include eight diamond drill holes totaling 1200 meters.

Drilling will target an extension to the Coleman Vein at the Lucky Shot Mine. From 1908 to 1951 this mine operated as one of the richest in Alaska, producing 252,000 oz. Au at an average grade of 1.48 oz/ton Au. Limited drilling by Ensearch Oil and Gas in the mid 1980's intercepted gold values including 24.6 oz/ton Au over 0.24m and 12.9 oz/ton Au over 0.24m.

Situated 60km north of Anchorage, the project has excellent access to roads, rail and power. It is estimated that over 620,000 ounces of gold have been produced in the Lucky Shot/Independence Mine area, at historic grades ranging from 2.0 to 0.4 oz/ton. These historic production figures from the Lucky Shot/Independence Mine area have not been audited, and should therefore not be relied upon.

The Lucky Shot/Independence gold system is analogous to the Grass Valley (MotherLode) type deposits in California, and is typified by 1 to 2m thick subhorizontal quartz veins. The veins are typically 'stacked', and limited modern exploration has been performed under the historic workings to test for additional veins.

Full Metal also intends to target gold-bearing fault zones that are the structural controls to the vein-hosted gold mineralization. This style of gold mineralization is similar to bulk-tonnage gold mining operations within Grass Valley type deposits in the Eastern Shandong Region of Northern China.

The core drilling and sampling program, including a rigorous quality assurance/quality control program will be supervised by Robert McLeod, P.Geo., Vice-President of Exploration for Full Metal, a qualified person as defined by NI 43-101.

Full Metal currently has interests in ten gold, copper-gold and uranium properties in Alaska and Nunavut, including the highly prospective Ganes Creek Gold, the South Pebble Copper/Gold and the 1.4 million acre Aleutian Island 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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