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Firestone Ventures Identifies New Drill Targets Adjacent to
Torlon Hill
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February 1, 2008 - Firestone Ventures Inc. (FV:TSX-V;F5V:FSE) is
pleased to announce that it has identified two new zinc-lead soil
anomalies in previously unexplored areas directly to the east and to
the south of Torlon Hill. A total of 205 soil samples and 23 rock
samples were collected.

The first new anomaly was discovered directly east of Torlon Hill. A
total of 45 soil samples on 50 metre centers were collected over a 250
by 400 meter area. The area is underlain by an outlier of Permian
dolomite rock, the same formation that hosts the Torlon Hill
zinc-lead-silver mineralization. Soil geochemical results show a
well-defined area of very strongly anomalous zinc (up to 1.32% or
13,200 ppm) and lead (up to 4,120 ppm). Sixteen rock grab samples from
outcrop returned up to 150 ppm zinc and 320 ppm lead.

The second anomaly was outlined in a previously unexplored area
directly south of Torlon Hill. Of 45 soil samples collected, an
anomalous zone with up to 570 ppm zinc and 1,370 ppm lead was defined
by extending the south end of the previous soil grid an additional 150
metres south. This anomaly may represent a northwest-trending fault.
Five rock samples collected in this area returned up to 140 ppm zinc
and 570 ppm lead.

In addition, Firestone collected 67 soil samples on 25 metre centres as
in-fill samples to better define the soil anomalies outlined by the
2007 program (see news release dated July 10, 2007). The sampling
confirms two strongly anomalous zinc-lead trends with values up to
2,330 ppm zinc and 3,590 ppm lead.

"While recently preparing for the 2008 drill program, which is
well-underway, we conducted a surface exploration program in November,
2007. We have several new drill targets in previously unexplored areas
near Torlon Hill, in addition to ongoing in-fill and expansion drilling
on Torlon Hill", says Lori Walton.

Mineralization at the intensely oxidized Torlon Hill deposit consists
largely of smithsonite (a zinc carbonate mineral) replacing limestone,
cross-cut by galena (lead sulphide) veinlets and contained within a
shallowly southeast-dipping body measuring approximately 400 metres
long, 20 to 100 metres wide and up to 30 metres thick. Previous
high-grade drill hole intersections include 25 metres of 26.77% zinc,
1.42% lead, 5.98 g/t silver and 53.3 metres of 9.66% zinc, 1.86% lead
and 12.21 g/t silver (see news release dated Oct. 4, 2007). Most
mineralization defined by drilling to date occurs on or near surface.
The deposit is still open to expansion, mainly to the west and south.

Soil samples were dried at the BSI Inspectorate facility in Guatemala
City, then shipped by courier directly to ALS Chemex North Vancouver,
British Columbia, Canada for analysis. All soil and rock samples were
subjected to a 4-acid digestion and then analyzed for 31 elements by
ICP-AES.

The road-accessible Torlon Hill project is located 18 kilometers
northwest of the city of Huehuetenango, which is situated on the
Pan-American Highway in western Guatemala.

This news release has been reviewed and approved by John Cleary, (CPG)
Qualified Person and by Al Workman, P.Geo., Vice President of Watts,
Griffis and McOuat Limited.

Firestone Ventures Inc. is a well-financed Canadian-based resource
exploration and development company with zinc, gold and uranium
projects in Western Canada and Central America. The common shares of
the Company are currently listed on the TSX Venture Exchange (symbol
FV) and the Frankfurt Stock Exchange (symbol F5V). For further
information please contact:

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

For Investor Relations please call: Contact Financial Inc. at (604)
689-7422
Investors can also visit www.agoracom.com/IR/Firestone or email
questions to FV@agoracom.com.

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release

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Copyright (c) 2008 FIRESTONE VENTURES INC. (FV) All rights reserved.
For more information visit our website at
http://www.firestoneventures.com/ or send
mailto:returns@firestoneventures.com
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