Full Metal Minerals Ltd.

Full Metal Minerals Ltd.

August 28, 2007 09:00 ET

Full Metal Intersects 8.1 Meters of 12.3% Zinc Oxide at Fish Prospect, 40 Mile Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2007) - Full Metal Minerals (TSX VENTURE:FMM) is pleased to announce that assay results have been received from three step-out drill holes completed at the Fish zinc-silver oxide, carbonate replacement prospect on the 40 Mile Property in east-central Alaska.

The three drill holes totaling 590 meters, tested the strike extensions to the high-grade zinc and silver values encountered during the 2006 drilling program (see FMM 2006-NR #29 Nov 02, 2006). Assay results are as follows:

Hole-ID From To length Zn % Ag (g/t)
Fish07-08 101.2 105.77 4.57 2.2 46.7

Fish07-09 250.64 258.7 8.06 12.3 6.9
And 279.19 313.5 34.31 2.9 4.9
including 306.08 310.5 4.42 5.6 1.7

Fish07-10 52.6 58.22 5.62 4.2 19.4
68.15 70.22 2.07 0.3 205

True thicknesses estimated to be 90% or greater of drilled length.

Ten drill holes have been completed at the Fish Prospect, testing a 1500 metre long gossan that is interpreted to have been derived from intensely weathered massive to semi-massive sulphides replacing carbonate rocks. To date, drilling has tested approximately 600 meters of strike length and 375 meters down dip. The deepest hole drilled at Fish (Hole Fish07-09), attempted to intersect primary sulphides, however this hole encountered 8.06 meters averaging 12.3% zinc in mineralized material that was still oxidized.

The 40 Mile area of Alaska was never eroded by glaciation and as result the Fish Prospect is deeply weathered. The current interpretation suggests that the Fish Prospect is a weathered massive sulphide body, with zoned zinc, silver, gold, lead and copper rich sections. Mineralization is also strongly anomalous in bismuth, arsenic and antimony. Zinc mineralization at Fish occurs primarily as smithsonite. In a silver rich section, Hole Fish07-10 encountered 2.07 meters averaging 205 g/t Ag. The zone remains open for expansion to the south, and at depth. A location map with drill hole locations is available on the Company's website at www.fullmetalminerals.com.

Fish is located approximately seven kilometers west of the LWM Discovery, where drilling during 2007 includes 44.6 meters averaging 15.9% Zn, 5.3% Pb and 76.6 g/t Ag, 15.6 meters averaging 21.2% Zn, 8.7% Pb, and 127.0 g/t Ag, and 6.48 meters averaging 464.2 g/t Ag, 31.6% Zn, 11.3% Pb and 1.41% Cu (see FMM NR#17 dated July 30th, 2007). The results at the LWM and Fish Prospects, as well as the high-grade surface results at the Eva Prospect, highlight the regional potential for new discoveries within the 800,000 acre 40 Mile Property. Drilling will resume within the week at the LWM Discovery.

The mineralization at Eva and LWM as well as multiple other prospects at the 40 Mile Property is consistent with carbonate replacement deposit (CRD) zinc-lead-silver systems. Worldwide analogs of this style of mineralization include Leadville, Colorado, Pine Point and Polaris deposits located in the Northwest Territory.

Full Metal has options to earn numerous 100% leasehold interests within an area of over 800,000 acres of lands owned and selected by Doyon, Limited, an Alaska Native Regional Corporation (See FMM 2006 NR #9, Dated May 23, 2006). Fish and LWM occur within a 90 kilometer long trend of CRD-style prospects, the majority of which have never been drill tested. Full Metal is also completing a regional exploration program and identifying drill targets elsewhere on the 40 Mile Property.

Full Metal's 2007 exploration program is 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 are cut in half using a diamond saw, with one-half placed in sealed bags. Core and surface samples are 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 has twelve active projects in Alaska and one in the Yukon Territory. Drill programs are ongoing at the 40 Mile, Lucky Shot, CJ and Boulder Creek projects. Full Metal is a generative exploration company with six active Joint Venture Agreements.


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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