Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.

December 22, 2008 16:00 ET

Full Metal Minerals Announces Closing of Tranche 1 of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2008) - Full Metal Minerals Ltd. (TSX VENTURE:FMM) announces that it has closed the first tranche of its non-brokered private placement announced December 8, 2008 for aggregate gross proceeds of $1,510,199.80. The Company issued 10,067,999 units at $0.15 per unit. Each unit in the private placement is comprised of one common share and one-half of one share purchase warrant with each whole warrant exercisable into one additional common share at a price of $0.25 until December 19, 2010.

Finders' fees aggregating $105,335.99 were paid in connection with this tranche. A corporate finance fee of 250,000 units was also paid to Canaccord Capital Corporation.

All of the shares, warrants and any shares issuable upon exercise of the warrants are subject to a hold period and may not be traded until April 20, 2009 except as permitted by Canadian securities legislation.

The Company intends to use the proceeds of the private placement for the Company's exploration properties and for general working capital purposes.

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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