Keywords : Guatemala | Zinc |

Re: Tuesday, August 07, 2012
Title: Firestone Ventures - Guatemala Country Update

Firestone Ventures Inc. is pleased to provide a country update on Guatemala. During the course of the Winter/Spring 2012 field season, Firestone made several new high-grade zinc discoveries and advanced exploration to drill-ready status on several projects in the central Guatemala zinc belt.

"Having just spent the week in Guatemala City meeting with ministry officials we are very pleased by the announcement on Friday, August 3 by the President to remove the proposed change to the Guatemala constitution that contemplated state ownership of up to 40% in new natural resources projects," says Pamela Strand, President & CEO of Firestone Ventures Inc. "Guatemala has new political leadership since January 2012 and this news should provide clarification for investors and enable Firestone to move forward on exploration efforts on our pipeline of new zinc discoveries in Guatemala."

The Guatemala government has made it clear that the government's intent was not to nationalize projects and the decision was made to rescind such proposed additions. According to the press release form the Press Secretary of the President, Number 127 issued on August 3, 2012, the official position of the President is to withdraw this from the constitutional reform. The announcement was made to provide clarity and stability for foreign and local investment. Firestone continues to monitor the remaining proposed changes to the Mining Law in Guatemala. The press release can be found at the following link: http://www.guatemala.gob.gt/index.php/boletines/item/1110-ejecutivo-excluye-de-reformas-tema-minero-y-fondo-soberano.

For more information: Pamela Strand, P. Geol., President Toll Free: 1-888-221-5588 Fax: (780) 428-3476
info@firestoneventures.com www.firestoneventures.com Trading Symbol: FV:TSX-V;F5V: FSE

This update may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements unless required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this update.

Firestone Ventures

	EXPLORATION STAGE
	CODE : FV.V
	ISIN : CA3183182011

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Firestone Ventures is a silver and lead exploration company based in Canada.

Firestone Ventures holds various exploration projects in Guatemala.

Its main exploration properties are ANTELOPE PROJECT in USA and QUETZAL and TORLON HILL in Guatemala.

Firestone Ventures is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.1 millions as of today (US$ 4.9 millions, € 4.1 millions).

Its stock quote reached its highest recent level on February 28, 1997 at CA$ 9.90, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Firestone Ventures has 36 823 991 shares outstanding.

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