Full Metal Identifies Significant Geochemical and Geophysical Anomalies at OG Zn-Pb-Ag Property

VANCOUVER, BRITISH COLUMBIA, Jan 15 (MARKET WIRE) --
Full Metal Minerals Ltd. (TSX VENTURE: FMM) is pleased to announce the
results of an extensive surface mapping, sampling and gravity geophysical
program from the 100% owned OG Zinc-Lead-Silver Property, Yukon.

The OG Property is a carbonate-replacement style deposit (CRD) located
approximately 40 kilometers north of Dawson City, Yukon. Full Metal is
planning a minimum 3,000 meter Phase I drilling program to commence in
the spring of 2008.

Work completed during 2007 outlined the Raider Zone, a significant new
1.0 square kilometer multi-element soil anomaly (greater than 500 ppm Pb,
greater than 1000 ppm Zn, greater than 2 g/t Ag). The Raider Zone is
located 750 meters north of the Yankee Zone, which was expanded from 1.4
to 1.7 square kilometers (greater than 500 ppm Pb, greater than 1000 ppm
Zn, greater than 2 g/t Ag). Sample spacing ranges from 50 meters by 50
meters to 50 meters by 200 meters at both Zones. The Yankee and Raider
anomalies are open for expansion to the east. Multiple other anomalous
areas were identified north of the Raider Zone. From July through
September 2007, 1,380 samples were collected at the OG Property; soil
samples range from 6.8 to 39,200 ppm Pb, average 327 ppm Pb; 27 to 11,100
ppm Zn, average 560 ppm Zn, and 0.2 to 154 g/t Ag, average 0.9 g/t Ag.

Additionally, a ground-based gravity geophysical survey was completed
over only the western third of the Yankee Zone soil anomaly. The survey
outlined a 1.1 to 1.6 mGal anomaly, measuring approximately 600 by 600
meters. Gravity geophysical surveys identify denser rock, with the intent
of identifying massive sulphide mineralization.

The OG Property was drill tested by 12 core holes in 1975 and 76 by
Hudson's Bay Mining. Assay results are known for only six holes, which
were filed under mandatory Yukon Territory assessment report
requirements. Limited exploration work was performed on the Property
prior to the 2007 Exploration Program.

Surface mapping identified CRD style mineralization consisting of coarse
grained pyrite, sphalerite and galena with local chalcopyrite within a
sequence of platformal Proterozoic limestones, commonly altered to
dolomite. Mineralization occurs within the footwall to a regional thrust
fault, with capping fine grained siliciclastic overlying the
mineralization. The Raider and Yankee zones are separated by a window of
the upper plate sediments.

Full Metal's 2007 exploration program was supervised by Robert McLeod,
P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., a
Qualified Person as defined by NI 43-101, who has prepared and approved
the information contained in this release. Soil samples were collected by
experienced technicians, and placed in sealed bags for shipment to the
ALS-Chemex Labs facility in Vancouver, B.C. for analysis. A sample
quality control/quality assurance program was implemented.

Full Metal is a generative exploration company with twelve active
projects in Alaska and one in the Yukon Territory. Final assay results
from the 2007 drilling program at the 40 Mile Property are expected
shortly. Drilling Programs will be completed during 2008 at the 40 Mile,
Lucky Shot, Mt. Andrew, Moore Creek, CJ, Pebble South, Chignik, Boulder
Creek and OG Properties. The Company has Joint Venture Agreements with
Freeport McMoRan, BHP Billiton, Metallica Resources, Triex Minerals,
Altair Ventures, Millrock Resources Highbury Projects, and Andover
Ventures.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Williams, President and Director

Some statements in this news release contain forward-looking information,
including without limitation statements as to planned expenditures and
exploration programs. These statements address future events and
conditions and, as such, involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements. Such
factors include without limitation the completion of planned
expenditures, the ability to complete exploration programs on schedule
and the success of exploration programs.

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

Contacts:
Full Metal Minerals Ltd.
Jeff Sundar
Manager, Investor Relations
(604) 484-7855
(604) 484-7155 (FAX)
Email: info@fullmetalminerals.com
Website: www.fullmetalminerals.com

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