May 26, 2008, Vancouver, BC - Dick Whittington, President and CEO of Farallon Resources Ltd. (TSX:FAN; OTCBB:FRLLF) ("Farallon" or the "Company"), is pleased to announce that the silver sale agreement, announced in a news release on May 13, 2008, with a subsidiary company of Silver Wheaton Corp. (�Silver Wheaton�) has been finalized.

Under the agreement, Silver Wheaton will pay staged payments of US$80 million in cash to Farallon for 75% of the silver produced from its Campo Morado polymetallic (zinc, gold, silver, copper, lead) project in Guerrero State, Mexico. Farallon received a US$15 million payment upon signing, and has now received a further US$15 million payment following the recent completion of certain formalities in Mexico.  The remaining US$50 million is to be received in a series of specified installments over the next few months.  Upon delivery of the silver, Silver Wheaton will also pay Farallon a fixed price payment per ounce of silver delivered equal to the lesser of US$3.90 and the spot price at the time of sale (subject to a 1% annual increase starting in the third year of silver production). 

Farallon has used a portion of the funds to retire the Bridge Facility with NM Rothschild and Sons Limited, Paradigm Capital Inc. and Societe Generale.  The Company now has no outstanding indebtedness and is fully   funded through to the commencement of commercial production at the G-9 project...

To view this news release in its entirety please clicks on the links below or copy and past it into your web browser.

http://www.farallonresources.com/fan/NewsReleases.asp?ReportID03334

If you have any questions do not hesitate to contact us as provided below.

Best Regards,

Investor Services
Hunter Dickinson Inc.
Toll Free 1-800-667-2114  | Main 1-604-684-6365
info@hdgold.com  | www.hdgold.com

 
*Other HDI affiliated companies include Amarc, Anooraq, Detour, Farallon, Continental, Northern Dynasty, Rockwell, and Taseko. Visit us at www.hdgold.com for more information.  To be removed from all of HDI�s email lists please reply to this email with �Remove All� in the subject line.
 

.