Farallon Resources Ltd.
TSX : FAN

Farallon Resources Ltd.

September 26, 2005 09:30 ET

Further Update on Drilling at Farallon's Campo Morado Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 26, 2005) - Farallon Resources Ltd. (TSX:FAN) -

Spectacular Results Received for G-9 Deposit

Up to 2 Ounces Gold per Ton and Over 30% Zinc in Some Intervals

Dick Whittington, President & CEO of Farallon Resources Ltd., is pleased to provide the latest results from drilling at the Company's Campo Morado polymetallic (zinc, gold, silver, copper, lead) project in Guerrero State, Mexico. Further to the news release of September 13, 2005, several new high grade base and precious metal massive sulphide intersections have been made at both the north and south ends of the G-9 deposit. The new results, which are separated by a distance of 400 metres, confirm G-9 as the most exciting deposit discovery in the Campo Morado District to date. The high grade nature and the excellent length of the intersections significantly enhance the development potential of the entire project. Drilling is continuing.

The latest results are from 7 exploration holes, 5 of which were drilled at G-9 and two others that were drilled at G-10. The results are listed in the Assay Table. Hole locations are highlighted in the Drill Hole Location Plan. The Assay Table, Drill Hole Location Plan and a Deposit Location Map are attached.

Assays are pending for a further 10 exploration holes at G-9 and will be released when they are received. The G-9 deposit remains open to the west, northwest and southeast.

Highlights of the new results are tabulated below:



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True
Drill Inte- Thick- True
Hole From To rval ness Thick-
Num- (met- (met- (met- (met- ness Au Ag Cu Pb Zn
ber res) res) res) res) (feet) g/t g/t % % %
---------------------------------------------------------------------
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481 459.4 494.6 35.2 34.9 114.3 2.16 253 2.96 1.82 8.38
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481 503.0 522.5 19.5 19.3 63.3 2.72 209 1.45 1.05 14.74
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481 Incl. 508.4 512.0 3.6 3.6 11.7 4.72 451 1.82 1.11 32.10
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485 343.9 352.1 8.3 7.9 25.9 4.76 370 2.14 1.42 5.51
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486 549.3 576.5 27.2 26.5 86.9 15.13 609 0.90 1.01 5.22
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486 Incl. 551.3 559.3 8.0 7.8 25.6 43.75 1555 0.29 1.34 2.46
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486 Incl. 555.3 558.3 3.0 2.9 9.6 63.67 2233 0.25 1.50 2.03
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Dick Whittington said: "These results are the best recorded at the Campo Morado Project since drilling began in 1996. Spectacular high grades of zinc over significant intervals have been reported in these results and highlight the tremendous potential for further high grade zinc intersections to be encountered at G-9. They also reaffirm the results from the discovery hole (420) and those released in early September. However, it is the high grades of gold and silver that are so exciting and something that one works a whole career hoping to see. As a President, to preside over a team that has discovered such a deposit is especially rewarding. The geological team at Farallon deserves full credit for this discovery and I have no doubt that they will uncover further deposits as we continue to progress on our deposit trend towards the old La Suriana mine, 7.5 kilometres to the southwest. We will also be reviewing our drilling plans to capitalize on these results and to delineate the extent and breadth of the G-9 deposit as soon as possible."

The in-house qualified person for the drilling program and selection of samples for metallurgical testwork at Campo Morado is Daniel Kilby, P.Eng. ALS Chemex is the analytical laboratory for the project; sample preparation is done in Guadalajara, Mexico and analysis is done in Vancouver, BC. All samples are assayed for gold by fire assay fusion with a gravimetric or Atomic Absorption (AA) finish. Silver, copper, lead, zinc and 27 to 30 additional elements are determined for all samples by acid digestion, followed by an AA or ICP finish. Duplicates are analyzed by Acme Analytical Laboratories in Vancouver.

Farallon has a strong cash position of C$13.8 million. Based on the success of the Company's 2004-2005 exploration and engineering programs, Farallon's Board of Directors approved a new budget of $10.4 million that will enable the Company to complete its current drilling program and conclude a Pre-Feasibility Study by early 2006.

For further details on Farallon Resources Ltd. and its Campo Morado property, please visit the Company's website at www.farallonresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

ON BEHALF OF THE BOARD OF DIRECTORS

J.R.H. (Dick) Whittington, President & CEO

Forward Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. The likelihood of future mining at Campo Morado is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for pits and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at Campo Morado and there is no assurance that the mineralization at Campo Morado will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com.



CAMPO MORADO ASSAY TABLE

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True
Drill Inte- Thick- True
Hole From To rval ness Thick-
Num- Depo- (met- (met- (met- (met- ness Au Ag Cu Pb Zn
ber sit res) res) res) res) (feet) g/t g/t % % %
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480 G10, did not intersect massive sulphides
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481 G9 459.4 494.6 35.2 34.9 114.3 2.16 253 2.96 1.82 8.38
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481 G9 503.0 522.5 19.5 19.3 63.3 2.72 209 1.45 1.05 14.74
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481 G9
Incl. 508.4 514.0 5.6 5.5 18.0 4.46 370 1.90 0.92 25.90
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481 G9
Incl. 508.4 512.0 3.6 3.6 11.7 4.72 451 1.82 1.11 32.10
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482 G10, did not intersect massive sulphides
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483 G9 482.4 495.5 13.1 13.0 42.6 5.19 191 1.36 0.55 10.60
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484 G9 353.1 356.3 3.3 3.0 9.9 0.63 129 2.28 0.91 13.24
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484 G9 399.9 406.9 7.0 6.5 21.3 3.79 255 0.54 2.37 2.90
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485 G9 343.9 352.1 8.3 7.9 25.9 4.76 370 2.14 1.42 5.51
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485 G9
Incl. 343.9 348.9 5.0 4.8 15.7 5.17 437 3.16 1.68 7.22
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485 G9 407.0 409.0 2.0 1.9 6.3 0.41 26 1.46 0.31 4.31
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486 G9 504.1 509.5 5.4 5.3 17.3 2.40 115 1.67 0.79 9.81
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486 G9 526.5 529.7 3.2 3.1 10.2 2.79 171 1.32 1.43 6.10
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486 G9 535.8 545.0 9.2 9.0 29.4 3.35 162 1.61 1.07 10.20
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486 G9 549.3 576.5 27.2 26.5 86.9 15.13 609 0.90 1.01 5.22
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486 G9
Incl. 551.3 559.3 8.0 7.8 25.6 43.75 1555 0.29 1.34 2.46
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486 G9
Incl. 555.3 558.3 3.0 2.9 9.6 63.67 2233 0.25 1.50 2.03
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486 G9 592.4 593.8 1.4 1.4 4.5 1.14 96 1.15 0.44 4.92
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To view the maps accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/FAN0926.pdf

No regulatory authority has approved or disapproved the information contained in this news release.

Contact Information

  • Farallon Resources Ltd.
    Shawn Wallace
    Investor Services
    (604) 684-6365 or Toll Free: 1-800-667-2114
    (604) 684-8092 (FAX)
    www.farallonresources.com