First Metals Inc.: Magusi Exploration Ramps Up

TORONTO, ONTARIO, Jul 22 (MARKET WIRE) --
First Metals Inc. (TSX: FMA) is pleased to report to its shareholders
that the excavation of the Magusi portal has been completed and that ramp
development is scheduled to commence on August 1st, 2008. The access road
has been upgraded and the yard pads are being constructed. All of the
additional equipment and required permits are in place to take a 50,000t
bulk sample from underground.

Company President and C.E.O., Richard Williams, commented: "We are very
pleased to be able to move this phase of the project forward by several
months, and certainly look forward to accessing the deposit from
underground as soon as possible."

On June 20th, 2008, the Company completed a major in-fill diamond
drilling program at the Magusi deposit. All of the sulphide intersections
have been logged and sampled, and logging of the sections of the drill
holes on either side of the sulphide intersections is being completed in
order to provide an updated resource estimate and assist in mining method
selection.

In a NI 43-101 Technical Resource Report, dated May 2006, Reno Pressacco
M.Sc.(A), P.Geo. of Micon International Limited estimated the deposit to
contain in two main lenses of 1,230,000t @ 7.1% Zn plus 0.4% Cu, 1.9g/t
Au and 29g/t Ag and 838,600t @ 3.3% Cu, 0.3% Zn, 0.22g/t Au, 39g/t Ag.
These figures will be upgraded once the final assay results are in hand.
Block modeling, rock mechanics studies and metallurgical test work are
proceeding concurrently.

Michel Plasse, Geo. and Chief geologist for the Fabie and Magusi
projects, is the Qualified Person pursuant to NI-43-101 who has reviewed
and approved the technical content of this release.

Organisational Update:

The Board of Directors is pleased to announce the appointment of James G.
Wilson, C.A. and C.M.A., as Chief Financial Officer. James Richardson,
C.A. has been appointed Secretary-Treasurer, and Richard Williams, has
been appointed President and C.E.O.. The Board has granted 100,000
options to each newly elected director, Mr. Harry Blum and Paul Cregheur,
exercisable at $1.00 per share prior to July 18th, 2011.

First Metals Inc. is a copper producer that is currently profitably
producing from the Fabie Bay Mine while advancing the Magusi project that
contains copper, zinc, gold and silver. The Company is listed on the
Toronto Stock Exchange and presently has approximately 42.8 million
shares issued and outstanding.

We seek Safe Harbour.

Contacts:
First Metals Inc.
Richard Williams
C.E.O.
(416) 364-3123
Email: rick.williams@firstmetalsinc.com

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