Full Metal Zinc Ltd.

Full Metal Zinc Ltd.

October 22, 2012 09:00 ET

Full Metal Zinc Expands Soil Anomalies at Fortymile Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2012) - Full Metal Zinc Ltd. (TSX VENTURE:FZ) is pleased to announce that soil and rock assay results have expanded soil anomalies from a surface exploration program at its 100% owned high-grade Fortymile Zn-Pb-Ag-Cu project in Alaska.

The 2012 Exploration Program included soil sampling, trenching and mapping, with a primary focus on extending soil sampling grids and targeting anomalous areas near the high-grade LWM deposit to develop drill targets for the 2013 program. The LWM discovery, along with multiple other prospects (See FMM NR 2007 #21, dated August 28, 2007), and numerous other showings and anomalies all occur within a 20 kilometer long trend of Carbonate Replacement (CRD-style) prospects.

Assay results for 432 soil samples and 27 rock samples collected during the 2012 season on the Fortymile property have been received. This program was successful in extending and infilling Ag, Pb and Zn anomalies at WLWM and at the newly named Marble Nose to the northwest of LWM. These anomalies follow the marble beds mapped in the area. Highest samples tend to be in areas of skarn mineralization. The skarn mineralization is vein-like as seen in several outcrops at WLWM or along marble contacts. A large northeast-southwest trending marble bed extending from WLWM to the Marble Nose seems to have high background Zn.

Steve Hayes, President and CEO of FZ, commented "We are pleased to have identified further zinc-lead-silver targets on the Fortymile property. The Company intends on drilling several of these anomalous areas during the 2013 season."

At WLWM, additional soil sampling was successful in extending a multi-element anomaly (>1 g/t Ag, >100 ppm Pb and >300 ppm Zn) 200 meters in both northerly and southerly directions, for a total of 650 meters by 50 to 100 meters in width. At Marble Nose, two distinct 800 meter long soil anomalies (>100 ppm Pb and >150 ppm Zn) were identified, associated with two layers of CRD host marble units. The easternmost anomaly, associated with the thicker section of marble, is as much as 650 meters in width, averaging 400 meters.

An area of oxidized sulphides (gossan) was identified in a previously unsampled area on a ridge west of Marble Nose and north of WLWM and is mineralized in Au, Ag, As, Cu, Mo, Pb, and Zn. This gossan zone could be found for approximately 50m in length and was 2-3m wide, and returned 0.323ppm Au, 61.6ppm Ag, 1700ppm As, 191ppm Cu, 27ppm Mo, 1750ppm Pb, 887ppm Zn.

Trenching results from targets east of LWM did not return significant mineralization. Previous drilling and the 2012 surface sampling results from the Fortymile Property, as well as geological maps and photos can be reviewed at www.fullmetalzinc.com.

In addition to the ongoing work at Fortymile, FZ continues to evaluate other corporate development opportunities.

Full Metal Zinc has the option to enter into 100% leasehold interest within 117,760 acres of lands selected by Doyon, Limited, an Alaska Native Regional Corporation (See FMM 2006 NR #9, dated May 23, 2006).

The 2012 exploration program at Fortymile was overseen by Robert McLeod, P.Geo, Director for Full Metal Zinc and a Qualified Person as defined by NI 43-101. Rock and soil samples were collected by experienced geologists and technicians, placed in sealed bags and delivered by Company employees to ALS-Chemex Labs facility in Fairbanks or Anchorage, Alaska. A sample quality control/quality assurance program using standards and blanks was implemented. Mr. McLeod prepared and approved the information contained in this release.


Steve Hayes, President & CEO

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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