Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.

December 19, 2006 16:15 ET

Full Metal Transfers 100% Interest in Two Nunavut Properties to Mountain Capital Inc.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 19, 2006) - Full Metal Minerals (TSX VENTURE:FMM) intends to divest its 100% interest in the Arcadia and Mac-Cache Properties in Nunavut to Mountain Capital Inc. for cash and shares. Full Metal's strategy is to focus exclusively on exploring in Alaska.

The transaction will constitute the Mountain Capital qualifying transaction under the policies of the TSX Venture Exchange. As consideration for the assignment of the Option Agreements, Mountain Capital has agreed to: (a) pay Full Metal the sum of $5,000 on execution of the assignment agreements and an additional $78,000 on closing of the qualifying transaction and (b) issue to Full Metal 800,000 common shares upon closing of the qualifying transaction and an additional 450,000 common shares on December 11, 2007.

This transaction is subject to approval from the underlying property holders Nunavut Tunngavik Incorporated and Hunter Exploration Group, as well as the TSX Venture Exchange.

Full Metal has thirteen active mineral projects in Alaska. The Company currently has drilling results pending for the Lucky Shot gold Property, and the Mount Andrew copper-gold Property. Full Metal has Joint Venture Agreements with Metallica Resources, Triex Minerals Corp., Afognak Native Corporation, 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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