Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.

October 09, 2008 14:10 ET

Full Metal Continues to Intercept High Grade Zinc, Lead, and Silver at Fortymile Property, AK: Including 6.2 Meters True Width Averaging 18.2% Zn, 4.3% Pb and 165.7 g/t Ag

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2008) - Full Metal Minerals (TSX VENTURE:FMM) is pleased to announce results from an additional 13 drill holes from the LWM Carbonate Replacement Deposit (CRD). The LWM Deposit is a high grade zinc, silver, lead, copper discovery located at the Fortymile Property in Eastern Alaska. Highlights include:

- LWM08-35: 12.2 meters true width averaging 6.4% Zn, 2.7% Pb and 39.1 g/t Ag

- LWM08-44: 2.3 meters true width averaging 12.2% Zn, 31.6%, Pb and 479.2 g/t Ag

- LWM08-49: 4.5 meters true width averaging 7.9% Zn, 14.5% Pb and 179.2 g/t Ag

- LWM08-49: 6.2 meters true width averaging 18.2% Zn, 4.3% Pb and 165.7 g/t Ag

- LWM08-53: 5.8 meters true width averaging 13.4% Zn, 4.3% Pb and 74.8 g/t Ag

To date, two subparallel zones of massive carbonate-replacement (CRD) mineralization have been traced over 700 meters of strike length and over 300 meters below surface. The deposit is open for expansion in all directions. Drill hole LWM08-45 is the furthest northeastern step-out hole with assays to-date on the property, and encountered 6.95 meters true width averaging 4.9% Zn, 11.6% Pb and 181.3 g/t Ag, including 2.6 meters true width averaging 12.2% Zn, 31.6% Pb, 0.67% Cu and 479.2 g/t Ag. Additional drill holes further northeast of LWM08-46 and 47 did not reach bedrock due to frozen overburden, however the mineralization remains open for expansion in this direction. Drill hole LWM08-34, a step-out hole to the northeast, encountered 3.7 meters true width averaging 17.3% Zn, 9.5% Pb, 0.3% Cu and 158.3 g/t Ag.

During 2008, 39 drill holes have been completed at LWM, with massive to semi-massive sphalerite-galena-chalcopyrite mineralization intersected in the majority. Step-out and infill holes are being completed on 50 meter centers along strike and down-dip. Infill hole LWM08-49 encountered multiple zones, including 4.5 meters true width averaging 7.9% Zn, 14.5% Pb, 0.25% Cu and 179.2 g/t Ag, in the upper zone and 6.2 meters true width averaging 18.2% Zn, 4.3% Pb, 0.41% Cu and 165.7 g/t Ag.

Mineralization occurs within dolomitized marble host rock, with the primary zone located adjacent to a fault zone. In the southwestern area of drilling, surface oxidation is locally variable in the upper zone. In some areas, the oxidation extends to over 200 meters below surface; the lower zone is typically less oxidized, with primary sulphide commonly located at surface. In the northeast, surface oxidation is much shallower. The thickness of mineralization can vary dramatically in CRD systems, with this variability common at LWM. A plan map with drill hole collar locations can be viewed at www.fullmetalminerals.com.

Complete drill results are as follows:



True Zn Ag Cu Pb Zn % +
Hole-ID From To Width Width % (g/t) % % Pb %
LWM08-35 120.23 121.05 0.82 0.64 26.4 77.0 0.26 4.08 30.48

137.07 152.78 15.71 12.19 6.39 39.1 0.02 2.72 9.11
including 142.77 145.65 2.88 2.23 8.1 85.4 0.03 5.37 13.47
and 151.88 152.78 0.90 0.70 41.81 182.0 0.5 12.95 54.76

LWM08-38 87 88 1.00 0.76 9.9 9.0 0.01 0.02 9.92

LWM08-39 133.14 134.5 1.36 1.06 13.75 9.0 0.05 0.03 13.78

LWM08-42 231.5 237 5.50 4.27 6.4 65.5 0.16 4.5 10.9
including 235 236 1.00 0.78 22.5 204.0 0.62 12.25 34.75

LWM08-43 No significant Assays

LWM08-44 79.15 81 1.85 1.60 7.22 76.0 0.31 4.32 11.54

89.26 97.29 8.03 6.95 4.88 181.3 0.24 11.61 16.49
including 94.68 97.29 2.61 2.26 12.18 479.2 0.67 31.61 43.79

LWM08-45 38 43.54 5.54 4.79 11.37 54.5 0.07 4.3 15.67
including 38 39.66 1.66 1.43 35.09 158.8 0.09 13.02 48.11

LWM08-48 No Significant Assays

LWM08-49 156 163.5 7.50 6.49 1.83 23.0 0.03 0.77 2.6

179.35 184.5 5.15 4.46 7.95 179.2 0.25 14.53 22.48

230.33 233 2.67 2.31 9.71 61.5 0.37 1.36 11.07

264.59 271.79 7.20 6.23 18.24 165.7 0.41 4.25 22.49
including 264.59 266.8 2.21 1.91 28.07 269.5 0.88 12.85 40.92

LWM08-50 404.95 406.1 1.15 0.99 3.3 22.0 0.04 0.99 4.29

LWM08-52 No Significant Assays

LWM08-53 191.1 192.08 0.98 0.84 13.25 160.0 0.25 14.85 28.1

196.3 198.16 1.86 1.61 15.72 42.3 0.18 1.58 17.3

207.65 213.42 5.77 4.99 13.43 74.8 0.17 4.3 17.73
including 210.05 212.13 2.08 1.80 28.26 173.6 0.4 9.94 38.2

LWM08-54 168 170 2.00 1.73 2.03 56.0 0.07 1.41 3.44


The LWM discovery, the Fish oxide zinc-silver discovery (See FMM NR 2007 #21), as well as the Oscar, Eva and Drumstick regional targets occur within an extensive trend of CRD-style prospects, the majority of which have never been drill tested. Additionally, surface exploration crews have identified new target areas and prospects during the 2008 exploration program.

Full Metal has options to earn numerous 100% leasehold interests within 235,376 acres of lands selected by Doyon Limited, an Alaska Native Regional Corporation (See FMM 2006 NR #9, dated May 23, 2006).

Full Metal's 2008 exploration program at Fortymile was performed under the supervision of Robert McLeod, P.Geo, Vice-President Exploration for Full Metal Minerals, and a Qualified Person as defined by NI 43-101. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags. Core and surface samples were delivered by Full Metal personnel to ALS-Chemex Labs facility in Fairbanks, Alaska. A sample quality control/quality assurance program is in place. Mr. McLeod prepared and approved the information contained in this release.

Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Full Metal is completing a bulk sample to confirm the continuity of high-grade gold mineralization within the Lucky Shot shear. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, New Gold, Triex Minerals, Altair Ventures, Highbury Projects, and Ashburton Ventures Inc.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Williams, President and Director

Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. 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 without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

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

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