First Metals Inc. Corporate Update and Board Appointment
11:27 EDT Thursday, September 14, 2006

TORONTO, ONTARIO--(CCNMatthews - Sept. 14, 2006) - First Metals Inc. (TSX:FMA) is a newly established mineral exploration and development company whose initial goal is to develop, rapidly and efficiently, two VMS deposits in order to capitalize on favorable copper and zinc prices.

The two deposits are located within the Noranda Mining Camp. The Fabie Bay deposit was developed by Mining Corporation in 1977-78 with a production ramp driven to a depth of 130 meters plus underground drifting on 6 levels. A 70,000 tonne open pit plus the underground drifting provided a 100,000 tonne bulk sample that was test milled in 1978 by Noranda Mines Limited with favorable results that would indicate the ore is amenable to conventional milling techniques with good recoveries.

The Magusi River deposit, located 1.2 kilometers to the west, has significant exploration potential beyond the significant inferred resources already outlined. (See more detailed reports including NI 43-101 compliant technical report on www.SEDAR.com ). These properties were acquired earlier in the year from Globex Mining Enterprises Inc. (GMX-TSX).

An exploration office has been opened in Rouyn-Noranda and an experienced mine staff has been hired. An aggressive series of both exploration and development programs are currently underway. Being within this established mining camp is facilitating these programs, given the favorable infrastructure and experienced workforce.

The Company is pleased to announce the appointment to its Board of Directors of Mr. George Salamis, an accomplished Geologist and mining executive. The Company also announces that the Board has, under the Company's Stock Option Plan, allocated 820,000 options to senior management and key employees, to acquire common shares at a price of $1.00 per share exercisable on or before September 13th, 2009.

The Company has recently completed its initial public offering and listing on the TSX Exchange, and is well funded, with approximately $9.5 million in cash and no debt. First Metals currently has 30,832,555 common shares issued and outstanding.

For further information, please visit the Company web site at www.firstmetalsinc.com.