Farallon Resumes Exploration Program On Campo Morado

FOCUS IS ON AREAS SURROUNDING THE EXISTING G-9 MINE

VANCOUVER, Oct. 8 /PRNewswire-FirstCall/ - Farallon Mining Ltd. ("Farallon" or
the "Company")(TSX:FAN) is pleased to announce the resumption of the
exploration program at the Campo Morado Property in Guerrero State, Mexico.
The Company will spend approximately $2.7 million on this 20,000 metre core
drilling exploration program over the next two quarters.
In July 2008, the Company suspended exploration at Campo Morado to focus on
the final stages of commissioning at the G-9 Mine and to ensure that the mine
was brought into full commercial production. As of April 1, 2009, the mine
achieved this objective and successfully reported $5.7 million in cash flow
from operations in the 2nd Quarter, 2009. Now that the mine is generating
operating cash flows, the Company will resume exploration on the Campo Morado
property. The first priority is to add additional resources to the G-9 Mine in
order to further extend the mine's life. The discovery of the Abajo deposit
200 metres below the original deposits proved that massive sulphide
mineralization exists in at least two distinct stratigraphic horizons at Campo
Morado. Additional exploration work will be done to test the potential of this
newly recognized volcanic cycle.
President and CEO Dick Whittington said "We did not suspend the exploration
program at the G-9 Mine because we ran out of exploration potential. We
suspended exploration due to the world credit crisis and our desire to focus
on bringing the G-9 Mine into full commercial production. Now that we are
operating the G-9 Mine we wish to build off the asset we have in the G-9 Mine
and pursue further discoveries on this great property. I am excited about the
exploration potential going forward and it's time to turn the exploration tap
back on."
Farallon's G-9 zinc, copper, silver, gold and lead mine at the Campo Morado
Property in Mexico reached commercial production in April 2009. The Company is
targeting to produce at an annualized production rate of 120 million pounds of
zinc and 15 million pounds of copper per year.

ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington
President & CEO

No regulatory authority has approved or disapproved the information
contained in this news release

Forward Looking Information

This release includes certain statements that may be deemed "forward-looking
statements." All statements in this release, other than statements of
historical facts, that address future production, reserve or resource
potential, continuity of mineralization, exploration drilling, operational
activities, production rates, costs to completion and events or developments
that the Company expects, or is targeting, are forward-looking statements.
Although the Company believes that the expectations expressed in such forward
looking statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or developments may
differ materially from those in the forward looking statements and may require
achievement of a number of operational, technical, economic, financial and
legal objectives. The likelihood of continued future mining at Campo Morado is
subject to a large number of risks, including obtaining lower than expected
grades and quantities of mineralization and resources, lower than expected
mill recovery rates and mining rates, changes in and the effect of government
policies with respect to mineral exploration and exploitation, the possibility
of local disputes including blockades of the company's property, the
possibility of adverse developments in the financial markets generally,
fluctuations in the prices of zinc, gold, silver, copper and lead, obtaining
additional mining and construction permits, preparation of all necessary
engineering for ongoing underground and processing facilities as well as
receipt of additional financing to fund mine construction, development and
operation, if needed. Such funding may not be available to the Company on
acceptable terms or on any terms at all. There are no mineral reserves at
Campo Morado and there is no assurance that the mineralization at Campo Morado
will ever be classified as mineral reserves. For more information on the
Company and the risk factors inherent in its business, investors should review
the Company's Annual Information Form at www.sedar.com.

SOURCE Farallon Mining Ltd.

on Farallon Mining Ltd., please visit the Company's website at
www.farallonmining.com or contact Neil MacRae, Investor Relations Manager, at
(604) 638-2160 or within North America at 1-800-667-2114