Guatemala

[johnlw]

Firestone begins Torlon Hill winter exploration

2006-01-16 09:19 ET - News Release

Ms. Lori Walton reports

FIRESTONE VENTURES BEGINS 2006 EXPLORATION AT TORLON HILL ZINC PROJECT

Firestone Ventures Inc. has started its 2006 winter exploration program as scheduled at the company's Torlon Hill zinc project, western Guatemala. The road-accessible Torlon Hill project is located 12 kilometres northwest of the city of Huehuetenango, situated on the Pan-American Highway in western Guatemala.

Recommendations based upon a recently completed independent project review by consultants Watts, Griffis and McOuat Ltd. (WGM) have been integrated into the exploration program and drill plan for the property. A total of $500,000 has been allocated for the winter 2006 Torlon Hill program.

The surface exploration program, currently under way, focuses on further expansion of the known zinc-bearing zones, and includes mapping and prospecting, soil sampling, preliminary environmental baseline surveying, and collection of bulk samples of mineralized materials.

Diamond drilling will commence by mid-February, 2006. The objective of the drill program is to evaluate the areas of known zinc mineralization toward preparation of a National Instrument 43-101-compliant resource estimate. A total of 20 diamond drill holes 50 to 100 metres in depth and spaced at 15- to 40-metre intervals are planned to delineate the high-grade zinc mineralization within the central Santa Rosa corridor. In addition, Firestone is planning two deep exploratory holes at the historical La Canada adits, 150 metres west of the main Santa Rosa workings. The intersection of new mineralization in this area would represent a considerable expansion of zinc potential at Torlon Hill.

"Market conditions for zinc have improved considerably since the acquisition of Torlon Hill by Firestone Ventures Inc.," says Lori Walton, president of Firestone Ventures. "Sustained high rates of economic growth in China and other Asian countries, and a 39-per-cent decline in zinc stockpiles over the past year are fuelling the demand for zinc. The price of zinc has increased from 35 U.S. cents per pound four years ago to over 90 U.S. cents per pound today."