More 40 Mile high-grade for Full Metal (July 30, 2007)

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

Step out holes testing the down-dip potential are intersecting multiple sections of zinc-lead-silver mineralization replacing marble and dolomite units.

Hole LWM07-09, an easterly step out from LWM06-04, 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 downhole 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 is optimistic of LWMs expansion potential as drilling and ground magnetic geophysics suggest the carbonate package hosting the massive sulphides dips to the south and trends northeast towards its Fish prospect. Anomalous soil geochemistry is also coincident with the interpreted trend.

Six of eight holes on 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 its Fish project, located six km east of LWM.

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

Shares of Full Metal notched up 7 on the July 30th results to close at $3.19 apiece. Based on its 37-million shares outstanding the company posts a $118-million market capitalization and has a 52-week trading range of $1.99-$3.66.