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Full Metal Commences Drilling at Grizzly Butte Copper-Gold Property, Alaska

Vancouver, BC - August 5th, 2010 - Full Metal Minerals Ltd. (FMM-TSX:V) ("Full Metal") is pleased to announce that the Company has commenced drilling at its 100% Grizzly-Butte copper-gold porphyry, located in south-central Alaska. A Phase exploration program will include a 1,000 meter drill program. To date no drilling has been completed at Grizzly Butte.

The 5,131 hectare Grizzly Butte copper-gold porphyry prospect is located in the Talkeetna Mountains, situated within 20 kilometers of a paved highway.

Drilling will target a 'horseshoe' shaped copper anomaly (greater than 280 ppm Cu) that measures 2,500 meters from east to west and up to 700 meters in north-south dimension. A high of 4,020 ppm Cu occurs within the widest portion of the anomaly, and is associated with an area of potassic alteration. In total, 350 soil samples were collected during 2010, with 17% returning in excess of 280 ppm Cu. A total of 190 rock chip samples were collected on the property, of which 26 assayed >0.1% copper, with two >1.0% copper. Complete copper and gold soil results are available on the company's website at www.fullmetalminerals.com

Full Metal recently completed an IP-resistivity survey and an expanded soil grid over Grizzly Butte. The Property was last explored by Kennecott Exploration in the 1990's. Historical exploration of the area included programs by Cities Service and Bear Creek Mining in the 1970's. Recently completed geologic mapping has identified a potassic altered diorite intrusive unit, with classic phyllic altered halo. Disseminated copper and gold mineralization has been identified within the heart of the alteration zone, as well as within sediment replacement bodies.

IP-resistivity surveys were completed over 14 line km spanning four lines by Zonge Engineering. 200 meter Dipole-Dipole data was used. A coincident IP high (> 60 mrad) and resistivity high with a radius of 600 to 800 meters occurs within the heart of the soil anomaly, and potassic altered intrusive units.

The Grizzly Butte prospect lies within a belt of rocks assigned to the Triassic Amphitheatre Group of the Wrangellia terrane, consisting of basalt flows and minor interflow argillite, limestone, and tuff, commonly with gabbroic sills. These rocks are intruded by a 1.2 square kilometer mapped area of various phases of K-feldspar altered diorite. Aeromagnetic data suggested this complex is much larger. A 1000 by 2000m NE-SW zone of strong potassic alteration is centered about diorite-syenite, and overprints the surrounding volcanic rocks. Copper mineralization occurs as disseminations, fracture fillings, and quartz-pyrite-chalcopyrite stockwork within magnetite/biotite-flooded rocks. One or more zones of sericite alteration are present within the potassic zone; higher grades of Cu mineralization may be associated with this alteration.

The 2010 exploration program is supervised by David Hedderly-Smith, Ph.D., PG, Consultant for Full Metal Minerals, and Robert McLeod, P.Geo., Vice-President Exploration of Full Metal Minerals. Both are Qualified Persons as defined by NI 43-101. Drill cores will be cut in half using a diamond saw, with one half placed in sealed bags, and delivered to ALS-Chemex facilities in Fairbanks, Alaska. A sample quality control/quality assurance program utilizing standards and blanks, as well as third-party check labs will be implemented. Contents of this release were prepared by and approved for release by Robert McLeod.

Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Work during 2010 includes drilling programs at the 100%-owned Fortymile zinc-silver-lead Property, underground development with Harmony Gold at the Lucky Shot Property, as well as additional surface work and drilling programs at several of Full Metal's Properties funded by Joint Venture Partners.

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