Full Metal Minerals Ltd.

Full Metal Minerals Ltd.

July 07, 2008 09:00 ET

Full Metal Intersects 68.2 Meters True Width Averaging 6.56% Zn, 2.47% Pb and 42.7 g/t Ag at Fortymile Property, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2008) - Full Metal Minerals (TSX VENTURE:FMM) is pleased to announce the initial drill holes from the 15,000 meter core drilling program from the LWM Zn-Ag-Pb-Cu discovery at the Fortymile Property in Eastern Alaska.

Ongoing drilling has identified massive carbonate-replacement (CRD) mineralization over 550 meters of strike length and over 300 meters below surface. The deposit is open for expansion in all directions. These initial drill holes are concentrated along the southwest extension of mineralization encountered during the 2007 drill season (see FMM 2008 NR#3, dated January 29, 2008. Current results include hole LWM08-29, which intersected 68.2 meters true width averaging 6.56% Zn, 2.47% Pb, 0.11% Cu and 42.7 g/t Ag. This interval included continuous zones of disseminated mineralization with alternating high-grade lead and zinc rich intervals including: 9.6 meters true width averaging 16.1% Zn, 4.0 meters true width averaging 20.4% Zn and 3.3 meters true width averaging 17.48% Pb and 254.3 g/t Ag.

To date, 23 drill holes have been completed, with massive to semi-massive sphalerite-galena-chalcopyrite mineralization intersected in the majority. Step-out holes are being completed on 50 meter centers along strike and down-dip. At least two subparallel zones of mineralization have been encountered 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, it 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.

Drill results include:

True Ag
Hole-ID From To Width Width (g/t) Cu% Pb% Zn%

LWM08-22 207.49 208.57 1.08 1.0 65 1.32 1.63 7.42

LWM08-23 188.28 190.5 2.22 4.0 134.3 0.12 9.84 4.38
and 310.0 315.81 5.81 2.5 85 nsv 4.95 0.77
including 312.0 315.81 3.81 2 98 nsv 5.98 0.04

LWM08-24 103.51 108.12 4.61 4.5 1.5 nsv nsv 4.36
and 247.59 257.91 10.32 10.0 1.4 nsv nsv 4.34

LWM08-25 250.78 252.42 1.64 1.5 67.1 0.11 0.36 5.43
and 257.68 259.05 1.37 1.3 142.9 0.12 7.21 6.34

LWM08-26 No significant Assays

LWM08-27 89.09 89.6 0.51 0.3 50 nsv 1.83 21.6
and 105.5 106.5 1.0 0.7 29 nsv 1.07 10.55

LWM08-29 46.68 155 108.32 68.2 42.7 0.11 2.47 6.56
including 46.68 51.84 5.16 3.3 254.3 0.34 17.48 4.36
67.94 74.32 6.38 4.0 20.4 0.14 0.76 14.18
81.86 97.15 15.29 9.6 16.1 0.1 0.4 17.81
126.0 132.0 6.0 3.8 45.7 0.17 2.77 14.9
138.0 140.49 2.49 1.6 275.4 0.42 17.53 2.08

- nsv denotes no significant values

The LWM discovery and the Fish oxide zinc-silver discovery (See FMM NR 2007 #21), as well as the Oscar, Eva, Drumstick, Lead Creek and Champion prospects and numerous other showings and anomalies all occur within a 90 kilometer long trend of CRD-style prospects, the majority of which have never been drill tested. Additionally, exploration crews have identified new target areas and prospects through surface exploration.

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. Drilling and underground development is currently underway at the high-grade Lucky Shot Gold Project. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, New Gold, Triex Minerals, Altair Ventures, and Highbury Projects.


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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