News Release                            

First Narrows Completes Private Placement

Total gross proceeds raised of $795,000

Vancouver, BC – February 26, 2008 – First Narrows Resources Corp. (TSX-V: UNO) (”First Narrows” or the “Company”) is pleased to announce that it has completed the non-brokered private placement (the “Offering”) announced February 22, 2008.  The Company raised gross proceeds of $795,000 and placed an aggregate 3,180,000 common share units (the “Units”).  The Units consist of one common share and one-half of one common share purchase warrant, with each full warrant exercisable at a price of $0.40 for a period of two years following the close of the Offering.

Proceeds arising from the sale of the Units will be used to fund the Company’s ongoing exploration programs in the State of Sonora, Mexico and the Province of New Brunswick, Canada, and for general corporate purposes.

The Company paid cash commissions of $40,000 and a total of 80,000 Units to arm’s length parties in connection with the completion of the Offering.

The offering is subject to TSX Venture Exchange approval.  All securities issued in connection with this offering will be subject to a four-month hold period in accordance with securities regulation.

About First Narrows Resources Corp.:

First Narrows Resources Corp. (TSX-V: UNO) is a Canadian-based mineral exploration company whose corporate strategy is to develop overlooked and undervalued mineral properties that offer near term production potential.  The Company has active projects in the Province of New Brunswick, Canada and in the State of Sonora, Mexico.  The most advanced project is the 100%-owned Chester copper-polymetallic deposit in New Brunswick’s Bathurst Mining Camp, which is rapidly moving forward to NI 43-101 mineral resource estimate and conceptual mine design status.  For more information visit: www.uno.ca

For Corporate, Media, or Investor Communications contact:

Greg Lytle, Communications Manager

First Narrows Resources Corp.

Toll-free: (866) 285-5817

Int’l. & Vancouver: (604) 839-6946

Email:glytle@uno.ca

ON BEHALF OF THE BOARD OF DIRECTORS

“Peter K. Gummer”

Peter K. Gummer, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. We seek safe harbor.