More 40 Mile high-grade for Full Metal (August 20, 2007)

Vancouver — Full Metal Minerals (FMM-V, FLMTF-O) continues to hit high-grade massive sulphides at the LWM prospect on its 40 Mile project, in eastern Alaska, where it is seeing multiple zones of carbonate replacement deposit (CRD) style mineralization.

Stepout holes testing the downdip potential are intersecting multiple sections of zinc-lead-silver mineralization replacing marble and dolomite units.

Hole 9, an easterly stepout from hole 4, cut the deepest and highest-grade values to date on the project. It returned five mineralized intervals across about 90 metres with the lowermost (starting from 211.5 metres down-hole depth) averaging 31.6% zinc, 11.3% lead, 1.4% copper and 464.2 grams silver per tonne over 6.5 metres. Mineralization is described as massive to semi-massive, coarse-grained sphalerite, chalcopyrite and galena.

Full Metal sees expansion potential at LWM as drilling and ground magnetic geophysics suggest the carbonate package hosting the massive sulphides dips to the south and trends northeast toward the company’s Fish prospect. Anomalous soil geochemistry is also coincident with the interpreted trend.

Six of eight holes drilled at LWM have intersected significant massive sulphides where the company targeted the edge of a large “kill zone,” an area with no vegetation due to high acid or metal content in the soil.

Some of the shallow mineralization at LWM, above 50 metres depth, is partially oxidized.

The company is also awaiting assays from three holes recently drilled at the Fish project, 6 km east of LWM.

Full Metal can earn 100% of the mineral rights in the large 40 Mile land package, which consists of more than 3,280 sq. km, from the Alaskan Native Regional group, Doyon, for cash payments of US$325,000, annual scholarship donations of US$10,000 and total exploration spending of US$3.85 million over 6 years. Doyon also retains a royalty on any future metals production from the property.

Shares of Full Metal notched up 7 on the July 30 results to close at $3.19 apiece. The company’s stock has traded in a 52-week trading range of $1.99-$3.66; based on its 37 million shares outstanding, Full Metal posts a market cap of $118 million.