Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.
Highbury Projects Inc.
TSX VENTURE : HPI

Highbury Projects Inc.

November 11, 2008 09:00 ET

Full Metal and Highbury Drill 5.5m of 4.28 g/t Au at Moore Creek Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2008) - Full Metal Minerals (TSX VENTURE:FMM) ("Full Metal") and Highbury Projects Inc. (TSX VENTURE:HPI) ("Highbury") are pleased to announce that assay results have been received from a thirteen-hole, 1,878-meter drilling program at their Moore Creek gold project, located in the Kuskokwim region of West Central Alaska.

The 2008 drilling program followed up on the "Spring" and "Troy" zone discoveries made during the 2007 mechanical trenching program (see FMM 2007 NR #29, November 6, 2007). Both zones consist of northeast trending, steeply dipping, sheeted quartz veins ranging from one to ten centimeters thick with coarse gold and disseminated sulfides, and are hosted within pervasively silicified and tourmaline-altered monzonite of the early Tertiary Moore Creek pluton. Alteration intensity and grade appears to increase to the south, towards the Iditarod-Nixon Fork Fault. Channel samples from the Spring Zone assayed up to 8.86 g/t Au over 11.0m and from the Troy Zone assayed up to 88.5 g/t Au over 0.2m.

The discoveries occur at the headwaters of significant placer gold producing streams; State of Alaska Records (2005) report that Moore Creek has produced over 60,000 ounces of placer gold, often of an exceptionally coarse nature and noted for attached quartz vein rock. Mineralization is located adjacent to the Iditarod-Nixon Fork fault zone, which is also associated with NovaGold/Barrick's Donlin Creek gold deposit (M+I: 29.38M oz; Inf: 17.1M oz; NovaGold News Release Feb 7, 2008) located 90 km to the southwest of the Property.

Holes MC08-01 to MC08-05 and MC08-09 to MC08-12 tested the Spring Zone and Holes MC08-06 to MC08-08 and MC08-13 tested the Troy Zone. Strong alteration was encountered with zones of silicified and tourmaline-altered monzonite with stockwork quartz veins (up to 79 cm wide) and disseminated-massive arsenopyrite, chalcopyrite, pyrite, and rare pyrrohtite intersected in the majority of the holes. Results are as follows:



Hole ID From (m) To (m) Total (m) Au (g/t)
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MC08-01 173.5 176.5 3.0 3.35
Including 174.5 175.5 1.0 5.41

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MC08-02 18.0 20.0 2.0 1.4

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MC08-03 No Significant Intercepts
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MC08-04 125.0 129.0 4.0 1.67

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MC08-05 38.0 40.0 2.0 2.86
66.5 77.0 10.5 2.82
Including 71.5 77.0 5.5 4.28

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MC08-06 105.0 109.0 4.0 3.61
Including 105.0 107.0 2.0 5.77

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MC08-07 72.0 74.0 2.0 1.06

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MC08-08 80.0 81.0 1.0 1.94
87.0 88.0 1.0 1.34

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MC08-09 32.0 38.0 6.0 1.72
Including 32.0 34.0 2.0 3.37

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MC08-10 43.25 45.0 1.75 1.03
68.0 70.0 2.0 1.19

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MC08-11 64.0 66.0 2.0 4.38

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MC08-12 No Significant Intercepts
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MC08-13 No Significant Intercepts


Commonly sampled intervals had poor core recovery; gold analysis may not reflect true content. Minimum sampling interval was 0.5m regardless of recovery.

Both MC08-02/03 and MC08-04/05 were drilled from the same setup at -60/-75 degrees and -75/-55 degrees inclines respectively and were angled to intersect the Spring Zone below 2007 trenches. MC08-09/10 and were drilled from the same setup at -75/-55 degrees inclines respectively and offset 100m to the northeast of 2007 trenching, while MC08-11 was drilled at a -65 degrees incline and was offset 200m to the northeast of 2007 trenching. Both setups were on strike with the Spring Zone and indicate mineralization continues 200m to the northeast and is still open in that direction. All holes in the Spring Zone terminated within the Iditarod-Nixon Fork Fault, and mineralized quartz veins are parallel the strike and dip of the fault (045 degrees, 85 degrees NW). MC08-06 was drilled at -55 degrees and was angled to intersect the Troy Zone below 2007 Trench #9 which had sample assays up to 88.5 g/t over 0.2m. This year's drilling efforts were substantially hampered by extremely fractured rock in the often sheared mineralized zones, and core recovery was often poor (ranging from less than 1% to greater than 95% in the mineralized zones).

Full Metal and Highbury are currently evaluating the results of the drill exploration program to prepare for additional exploration on the property in 2009 that may include mapping, sampling, trenching and auger drilling to test additional targets on the Property.

Full Metal and Highbury also completed a reconnaissance program across the claim block and identified areas of potential gold mineralization associated with Willow Mountain and Maybe Mountain and monzonite stocks that outcrop approximately 3 km and 8 km to the north respectively. Soil samples across the Willow Mountain stock returned analyses of up to 20 g/t Gold, along with anomalous Arsenic and Copper over a 300m x 500m area. Grab samples of vuggy quartz with massive arsenopyrite from the Maybe Mountain stock assayed up to 6.07 g/t Gold, and soil samples contained anomalous Silver, Arsenic, Copper, Lead, and Antimony over a 250m x 500m area.

The 24,281-hectare property is located in the historic Iditarod placer mining district, approximately 80 km southwest of McGrath, Alaska. Moore Creek has previously received minimal modern exploration, and had not been drill tested. An active placer mine is in operation on the property, along with a recreational mining business where large gold/quartz/tourmaline specimens are found with metal detectors. Photos of these specimens and the Moore Creek property can be seen at www.moorecreek.com.

Exploration at the Moore Creek Property was supervised by David Hedderly-Smith, Ph.D., PG, consultant for Highbury Projects, and Robert McLeod, P.Geo., VP of Exploration and CEO for Full Metal Minerals. Both are Qualified Persons as defined by NI 43-101. Drill cores were cut in half using a diamond saw, with one half placed in sealed bags, and delivered to Alaska Assay Labs facilities in Fairbanks, Alaska. A sample quality control/quality assurance program was implemented. Contents of this release were reviewed and approved for release by Mr. McLeod and Dr. Hedderly-Smith.

Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Drill results are currently pending from the high-grade Fortymile silver-lead-zinc property and Pebble South copper property. The Company has Joint Venture Agreements with Kinross Gold, Freeport-McMoRan, BHP Billiton, Mosam Capital, Triex Minerals, Altair Ventures, and Ashburton Ventures Inc., as well as Highbury.

Highbury is a Vancouver-based company that is earning a 60% interest in the Moore Creek property by committing to fund US$2.1 million in exploration expenditures over a period of four years at Moore Creek.

ON BEHALF OF THE BOARD OF DIRECTORS

Full Metal Minerals Ltd.

Michael Williams, President and Director

Highbury Projects Inc.

Anish Sunderji, CEO and Director

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

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