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Full Metal Expands Extent of Lucky Shot Gold Property, Commissions Underground Exploration Study

Posted on: Tuesday, 18 December 2007, 12:00 CST

Full Metal Minerals Ltd. (TSX VENTURE: FMM) is pleased to announce that final assay results have been received from the 2007 drill program from its 100% owned Lucky Shot Property, located 90 miles north of Anchorage, Alaska.

The primary focus of the 2007 Exploration Program at Lucky Shot was to determine through aggressive step-out drilling the strike extent of the Lucky Shot Shear. The drill program tested three of the four known fault blocks and has extended the continuous gold mineralization to over 2,400 meters along strike, and 700 meters down-dip. Highlights from the 2007 program include:

- C07-92 54.6 g/t Au over 0.98 meters in Murphy Zone

- C07-105 17.3 g/t Au over 1.0 meters in Coleman Zone

- C07-110 71.6 g/t Au over 0.5 meters in Coleman Zone

- C07-112 21.3 g/t Au over 0.5 meters in Coleman Zone

- C07-143 77.2 g/t Au over 0.5 meters in Lucky Shot Zone

Six wide-spaced deep drill holes were completed in the Lucky Shot block, down-dip of historic stopes. Drilling was successful in extending the known extent of the gold-bearing shear zone to over 500 meters down-dip, including hole C07-143, which intersected 77.2 g/t Au over 0.5 meters, approximately 200 meters down-dip from the stopes. Drill holes completed in this area are average 350 to 450 meters in length and Full Metal is contemplating using underground drifting and drilling to cost effectively define resources.

The Coleman Block, located near surface at the known western limit of the shear, received the majority of the drilling over the past three seasons by Full Metal. Drilling during the 2007 program focused on testing for new high-grade shoots, to the east and west of known mineralization. High-grade mineralization was identified to the west, and down-dip of historic stopes, including hole C07-110 which encountered 71.6 g/t over 0.5 meters. Holes C07-138 and 139 were 400 meter step-outs from the westernmost drill holes, and encountered the moderately altered shear with anomalous gold grades.

At the Murphy Block, five deep holes were completed during the 2007 program, including Hole C07-92 which encountered 54.6 g/t Au over 0.98 meters (seen FMM #10NR, May 7, 2007). This hole was a 100 meter offset from hole C06-89, which intersected 19.4 g/t Au over 0.4 meters. The Murphy Zone is a north-eastern extension to the past-producing War Baby/Lucky Shot mine and was discovered at the end of the 2006 field season. Holes C07-93, 94 and 99 encountered anomalous mineralization, all at greater than 250 meters below surface. Future drilling in the Murphy Block will include aggressive step-outs to the east, since the structure is projected to come to surface on the east side of the Craigie Creek Valley, about 1,000 meters east of C06-92.

Hole locations can be viewed at www.fullmetalminerals.com. Complete results are as follows:

 Hole-ID        From        To    Length   Au (g/t)    Zone C07-85       333.50    335.00      1.50      2.53     Lucky Shot              344.00    345.00      1.00      2.88 C07-91       287.10    287.53      0.43      2.03     Murphy C07-92       274.96    275.94      0.98      54.6     Murphy C07-93       No significant intercepts                Murphy C07-94       No significant intercepts                Murphy C07-95       206.00    206.50      0.50      1.68     Coleman C07-96       195.00    196.00      1.00      1.78     Coleman C07-97       214.00    215.42      1.42     11.12     Coleman C07-98       206.86    208.15      1.29      1.83     Coleman C07-99       275.40    276.20      0.80      1.12     Murphy C07-100      No significant intercepts                Coleman C07-101      No significant intercepts                Coleman C07-102      237.00    238.00      1.00      1.07     Coleman C07-103      232.00    233.00      1.00      1.71     Coleman C07-104      322.79    324.22      1.43      1.90     Lucky Shot              339.00    339.49      0.49      3.30 C07-105      144.00    145.00      1.00     17.30     Coleman              184.50    185.50      1.00      5.76 C07-106      171.00    171.50      0.50      8.84     Coleman C07-107      No significant intercepts                Coleman C07-108      139.00    142.50      3.50      2.38     Coleman C07-109      170.00    171.00      1.00      2.00     Coleman C07-110      105.00    107.00      2.00      2.51     Coleman              121.50    122.00      0.50     23.50              158.00    158.50      0.50     71.60 C07-112      111.00    111.50      0.50     21.30     Coleman              123.00    124.00      1.00      9.44 C07-113      106.50    108.00      1.50      2.31     Coleman              114.50    115.50      1.00     14.35 C07-114      133.00    135.00      2.00      1.73     Coleman C07-115       42.50     43.50      1.00      2.46     Coleman C07-116       38.50     39.50      1.00      3.29     Coleman C07-117      126.50    127.50      1.00      6.17     Coleman C07-118      188.50    190.00      1.50      8.18     Coleman C07-119      170.00    171.00      1.00      1.83     Coleman C07-120      No significant intercepts                Coleman C07-121      No significant intercepts                Coleman C07-122      No significant intercepts                Coleman C07-123      208.00    209.00      1.00      2.77     Coleman C07-124      157.00    157.50      0.50      8.89     Coleman              189.00    191.00      2.00      1.71 C07-125      153.00    154.00      1.00     13.90     Coleman              170.50    174.00      3.50      1.85              182.00    183.00      1.00      3.12              189.00    190.00      1.00      2.64 C07-126      173.25    178.00      4.75      4.30     Coleman C07-127      153.50    154.50      1.00      2.56     Coleman C07-128      116.00    117.00      1.00      1.45     Coleman C07-129      107.00    108.00      1.00      2.83     Coleman              184.50    186.00      1.50      1.90 C07-130      No significant intercepts                Coleman C07-131      No significant intercepts                Coleman C07-133      156.00    157.00      1.00      7.89     Coleman              192.00    193.00      1.00      3.12 C07-134      No significant intercepts                Coleman C07-135      Lost hole C07-136      No significant intercepts                Coleman C07-137      110.00    110.50      0.50      5.24     Coleman C07-138      No significant intercepts                Coleman C07-139      222.00    223.00      1.00      3.20     Coleman C07-140      350.00    351.00      1.00      1.40     Lucky Shot C07-143      235.00    236.00      1.00      2.82     Lucky Shot              400.75    401.25      0.50     77.20 C07-144      243.00    244.00      1.00      2.03     Lucky Shot              314.95    316.00      1.05      1.82              457.00    458.00      1.00      2.44 C07-145       28.50     30.00      1.50      5.04     Lucky Shot              371.00    372.50      1.50      3.32 C07-146      No significant intercepts                Yarder (i)True widths are estimated to be between 84 and 100% of drilled length. 

Based on the high-grades, excellent ground conditions, good metallurgy, and project infrastructure, Full Metal Minerals has commissioned JDS Mining and Energy of Kelowna, B.C. to evaluate the Lucky Shot Property for three potential scenarios: 1) Additional surface exploration, 2) combined underground and surface exploration, 3) positive construction decision. Metallurgical testing has been initiated, as well as underground development planning. Full Metal will make a decision on the 2008 Program at Lucky Shot during the first quarter of 2008.

The Lucky Shot Project is located in the historic Willow Creek Mining District. Past-producing mines in the District are considered to be among the highest grade in the Northern Cordillera, with documented production from company records and The Alaska Department of Mines listed at over 620,000 ounces Au from multiple veins and shears, at an average grade of approximately 1.0 oz/ton Au; Full Metal has not audited these historic production figures, and they should not be relied upon. Prior to Full Metal's 2005 exploration program, limited modern exploration has been performed in the District since the mine closures. Property infrastructure is excellent, with road access from Anchorage and close proximity to both rail and power. Camp and maintenance facilities are operated year-round.

Full Metal's 2007 exploration program was supervised by Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., and a qualified person as defined by NI 43-101, who has prepared and approved the information contained in this release. Drill holes are sampled at approximately one to five foot sample intervals. Core is sawn in half with a diamond saw. Samples are delivered in sealed bags to the ALS-Chemex Labs facility in Fairbanks, Alaska for sample preparation and were then sent to the Vancouver, B.C. Lab for analysis (50 gram-tonne gold fire assay with gravimetric finish plus multi-element ICP), with high-grade results analyzed by metallic screening method. A sample quality control/quality assurance program was implemented.

Drill results are expected shortly from Full Metal's high grade zinc, lead, silver 40 Mile Project. Full Metal is a generative exploration company with twelve active projects in Alaska and one in the Yukon Territory. The Company currently has eight active Joint Venture Agreements. Full Metal and its Partners are planning a minimum of eight drill programs during the 2008 field season.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Williams, President and Director

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.

 Contacts: Full Metal Minerals Ltd. Jeff Sundar Manager, Investor Relations (604) 484-7855 (604) 484-7155 (FAX) Email: info@fullmetalminerals.com Website: www.fullmetalminerals.com

SOURCE: Full Metal Minerals Ltd.

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