Full Metal Minerals Ltd.

Full Metal Minerals Ltd.

May 07, 2007 10:16 ET

Full Metal Intersects High Grade Gold at Murphy Zone Discovery

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 7, 2007) - Full Metal Minerals Ltd. (TSX VENTURE:FMM) is pleased to announce that the assay results from the first two drill holes are completed at its 100% owned Lucky Shot Property, located 90 miles north of Anchorage, Alaska.

Drill Hole C07-92 encountered 54.6 g/t Au over 0.98 meters, and is a 100 meter offset from hole C06-89, which intersected 19.4 g/t Au over 0.4 meters. These holes are estimated to be approximately 90% of true width. Hole C07-91 is 100 meters down-dip of C07-92, and encountered 2.03 g/t Au over 0.4 meters. The Murphy Zone, a north-eastern extension to the past-producing War Baby/Lucky Shot mine, was discovered at the end of the 2006 field season. This new block extends the strike extent of known gold mineralization within the Lucky Shot shear to 2,000 meters and confirms the potential for an additional high-grade zone.

Coarse gold and telluride mineralization with minor sulphides are hosted within one to ten centimeter wide quartz veins, hosted within a chlorite-carbonate altered shear zone within a tonalite intrusive. In the Murphy Zone, the shear is 270 meters to 300 meters below surface appears to range from a 15 degree northwesterly dip to sub-horizontal. The structure is projected to come to surface on the east side of the Craigie Creek Valley, about 1,000 meters east of C06-92.

Full Metal is completing a first phase, 75 hole, 15,000 meter diamond drilling program at Lucky Shot. A second diamond drill has been operating on site for the past two weeks, and is drilling on the western portion of the Coleman Block of the Lucky Shot shear. Previous results from the Coleman Block include:

Hole-ID Length (m) True Thick (m) Au (g/tonne) Au (oz/ton)
C05-09 3.05 3.05 62.23 2.00
C05-12 4.50 4.00 219.06 7.04
C06-16 4.56 4.56 51.5 1.66
C06-19 1.2 1.2 134.5 4.32
C06-21 2.6 2.5 60.3 1.94
C06-23 3.78 3.48 32.8 1.05
C06-27 1.83 1.68 34.1 1.10

The Lucky Shot Project is located in the historic Willow Creek Mining District. Past-producing mines in the District are considered to be among the highest grade in the Northern Cordillera, with documented production from company records and The Alaska Department of Mines listed at over 620,000 ounces Au from multiple veins and shears, at an average grade of approximately 1.0 oz/ton Au; Full Metal has not audited these historic production figures, and they should not be relied upon. Prior to Full Metal's 2005 exploration program, limited modern exploration has been performed in the District since the mine closures. Property infrastructure is excellent, with road access from Anchorage and close proximity to both rail and power. Camp and maintenance facilities are operated year-round.

Full Metal's 2007 exploration program is supervised by Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., and a qualified person as defined by NI 43-101, who has prepared and approved the information contained in this release. Drill holes are sampled at approximately one to five foot sample intervals. Core is sawn in half with a diamond saw. Samples are delivered in sealed bags to the ALS-Chemex Labs facility in Fairbanks, Alaska for sample preparation and were then sent to the Vancouver, B.C. Lab for analysis (50 gram-tonne gold fire assay with gravimetric finish plus multi-element ICP). A sample quality control/quality assurance program is in place.

Full Metal has twelve active Projects in Alaska. Drilling will commence shortly on the 40 Mile Zinc-Silver-Lead Project. Drilling is also planned on a minimum of six Properties during 2007. Full Metal has Joint Venture agreements with Metallica Resources, Andover Ventures, Triex Minerals and First Factor Development Inc.


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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