Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.

January 29, 2008 09:00 ET

Full Metal Reports High Grade Assay Results From LWM Prospect, 40 Mile Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - Full Metal Minerals (TSX VENTURE:FMM) is pleased to announce that all assay results have been received from the Company's Carbonate Replacement Deposit (CRD) style massive sulphide discovery at the LWM Prospect on the 40 Mile Property, Alaska. These results include five step-out drill holes, as well as over-limit zinc (greater than 30%) and lead values (greater than 25%) for previously reported results.

The final drill holes include the highest grades yet encountered on the property and include significant thicknesses. The long intercepts are due in part to a change in orientation of the strike of the zone, whereby some holes were drilled at a very shallow angle to the orientation of mineralization. The highlight of these recent assays include the highest grade mineralization yet encountered on the Property. Hole LWM07-19; 126.5 meters averaging 10.8% Zn, 2.0% Pb and 30.7 g/t Ag, including: 5.64 meters averaging 19.9% Zn, 31.8% Pb and 346.8 g/t Ag. Hole LWM07-21 intersected 10.7 meters averaging 5.5% Zn, 7.6% Pb and 110.3 g/t Ag.

The 2007 Exploration Program was completed in late September at LWM. Massive sphalerite/galena/chalcopyrite mineralization has been encountered over 300 meters of strike length, and greater than 200 meters below surface - the deposit remains open for expansion in all directions. Final assay results for all holes completed during 2007 are as follows:



Hole-ID From (m) To (m) Length (m) Ag (g/t) Cu % Pb % Zn %
LWM07-04 14.10 26.37 12.27 68.6 0.13 3.7 8.1
74.20 118.77 44.57 76.6 0.19 5.3 15.9
including 98.67 118.77 20.10 159.4 0.37 11.1 19.7

LWM07-05 52.00 60.50 8.50 105.3 0.08 8.0 12.3
including 55.00 57.50 2.50 340.0 0.59 26.1 21.0
104.10 105.63 1.53 1.0 0.19 0.02 11.0

LWM07-06 No Significant intercepts

LWM07-07 101.9 117.5 15.6 127.0 0.22 8.7 21.2
including 101.9 113 11.1 169.8 0.3 11.7 26.3
160.85 163.16 2.31 21.0 0.03 0.8 9.4

LWM07-08 112.76 113.80 1.04 85.0 0.17 6.7 8.0
174.80 185.70 10.90 24.9 0.04 1.5 7.9
208.89 210.31 1.42 29.0 0.04 1.0 8.6
226.50 228.00 1.50 275.0 0.32 5.5 18.6

LWM07-09 127.71 128.63 0.92 221.0 0.16 9.3 4.3
168.92 170.40 1.48 198.0 0.29 20.1 2.5
184.04 186.71 2.67 82.1 0.16 4.0 16.9
203.35 205.10 1.75 101.0 0.06 9.1 0.5
211.52 218.00 6.48 464.2 1.41 11.3 31.6

LWM07-10 39.97 40.54 0.57 20.0 0.01 1.0 6.5

LWM07-11 180.50 188.85 8.35 136.4 0.20 9.0 4.9
including 187.85 188.85 1.00 496.0 0.69 37.5 16.5
191.79 194.78 2.99 58.0 0.08 3.0 3.6

LWM07-12 9.14 16.8 7.66 3.6 0.08 0.1 5.8
47.69 52.36 4.67 23.0 0.04 1.3 4.7

LWM07-13 Lost

LWM07-14 103.75 123.16 19.41 31.2 0.06 1.4 6.8
including 111.70 118.43 6.73 54.6 0.15 2.2 14.0

LWM07-15 No Significant intercepts

LWM07-16 49.55 51.13 1.58 31.0 0.05 1.6 13.1

LWM07-17 28.45 41.60 13.15 159.2 0.25 11.8 13.4
28.45 33.53 5.08 266.6 0.37 19.5 19.4
85.38 85.90 0.52 45.0 0.08 1.2 24.3

LWM07-18 No Significant intercepts

LWM07-19 9.5 136 126.5 30.7 0.16 2.0 10.8
including 9.5 24.5 15 43.7 0.41 1.0 17.8
including 41.61 44.5 2.89 2.0 0.69 0.0 35.1
including 79.75 81.75 2 118.0 0.11 8.4 19.4
including 88.6 107.5 18.9 25.4 0.08 0.1 18.7
including 127.88 133.52 5.64 346.8 0.72 31.8 19.9

LWM07-20 9.14 15 5.86 126.7 0.05 1.3 3.1
62.65 63.79 1.14 58.0 0.03 5.0 0.2

LWM07-21 80.9 84.54 3.64 27.5 0.03 1.9 3.4
88.71 93 4.29 59.6 0.08 4.2 9.0
107.29 118 10.71 110.3 0.15 7.6 5.5


The summary above also includes revised lead and zinc assays for drill holes LWM07-11, 14 and 17, which returned significantly higher grades. Additional analyses were received for over-limit zinc (greater than 30%) and lead values (greater than 25%).

Drill holes LWM07-19, 20 and 21 were drilled close to the contact between the host marble and dolomite altered mafic rocks; CRD-style mineralization is generally close to the faulted contact between these units, and footwall argillite at LWM. These holes are step-outs completed to the southwest, and suggest a gentle roll in the strike orientation, and steepening of the dip orientation of the stratigraphy and mineralization. In drill hole LWM07-19, mineralization starts at the collar, and continues to 133.5 meters below surface, at a shallow angle to the core axis. Over the first 100 meters, primary sulphides were partially to completely weathered due to surface oxidation. Similarly, LWM07-21 is a vertical drill hole, with partial oxidation of sulphides near the footwall contact. This oxidation level varies at LWM, ranging from no oxidation at surface, to 125 meters below surface. Hole LWM07-20 is a -60 degrees angled hole inclined to the northwest and encountered partially oxidized mineralization just below surface, and cored into the footwall rocks near the collar.

The stratigraphic section at the LWM prospect includes: marble, dolomite, argillite and strongly altered mafic volcanic rocks. Drilling and ground magnetic geophysics suggests that the carbonate package hosting the massive sulphide mineralization, with dip varying from moderately south to vertical, and trends toward Full Metal's Fish Prospect four miles to the northeast. Anomalous soil geochemistry is coincident with this interpreted trend.

The mineralization at LWM, Fish, as well as multiple other prospects at the 40 Mile Property is consistent with CRD zinc-lead-silver systems. Worldwide analogs of this style of mineralization include Leadville, Colorado, Pine Point, NWT and the Polaris deposits, NWT. Due to the irregular geometries of CRD mineralizing systems, true widths and orientation of the massive sulphide zones are not fully understood at this time. Recent interpretations will allow for deeper, improved oriented holes that will return more accurate true widths. A plan map with drill hole locations for the LWM Prospect are available on Full Metal's website at www.fullmetalminerals.com.

Based on the results from the 2007 drilling program at LWM, and the extensive surface exploration program, the Company will complete a 15,000 meter core drilling program, additional surface sampling and geophysical surveys at the 40 Mile Project. Drilling is expected to commence in mid-March 2008, and will include infill and step-out holes, as well testing the Eva, Oscar and Drumstick targets, which have not been historically drilled. The Drumstick Prospect is located 2,200 meters north of the Eva Prospect, where previously reported results (see FMM #19NR August 13, 2007) from 14 mineralized rock samples averaged 957 g/t Ag, 23.6% Zn, 12.6% Pb, and 0.9% Cu. At Drumstick, three samples of mineralized rock were collected from prospect pits. Two of these samples returned 21.6% Zn, 19.1% Pb, 222 g/t Ag and 11.6% Zn, 8.1% Pb and 863 g/t Ag, in addition to anomalous gold and copper (see FMM #2 January 16, 2008). At Oscar, samples from prospect pits include: 17% Cu and 521 g/t Ag, 1.1% Cu and 441 g/t Ag, 6.2% Zn, 4.4% Pb, and 99 g/t Ag (see FMM #2 January 16, 2008). 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 2007 exploration program at 40 Mile 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 the 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 twelve active projects in Alaska and one in the Yukon Territory. Drilling Programs will be completed during 2008 at the 40 Mile, Lucky Shot, Mt. Andrew, Moore Creek, CJ, Pebble South, Chignik, Boulder Creek and OG Properties. The Company has Joint Venture Agreements with Freeport McMoRan, BHP, Metallica Resources, Triex Minerals, Altair Ventures, Highbury Projects, Millrock Resources and Andover Ventures.

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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