Full Metal Acquires Moore Creek Gold Property
 

Vancouver, BC – May 1, 2006 – Full Metal Minerals (FMM-TSX:V) is pleased to announce that it has entered into an agreement with Moore Creek Mining Ltd (MCM) to acquire a 100% interest in the Moore Creek Gold Property in Alaska.
 
The 14,250 hectare Property is located in the historic Iditarod placer mining district, approximately 80 km southeast of McGrath, Alaska.  Moore Creek occurs midway between Barrick/Novagold’s Donlin Creek Deposit and Full Metal’s Ganes Creek Project. 

State of Alaska Records (2005) report that Moore Creek has produced over 60,000 ounces of placer gold, often of an exceptionally coarse nature and noted for attached quartz vein rock. The nature of the placer gold suggests close proximity to the bedrock source.  Very limited lode-gold exploration has been performed in the area.  The source of the gold is potentially related to the Moore Creek Pluton, a Late Cretaceous monzonite intrusion. Located within the Moore Creek Pluton, the Broken Shovel prospect is a steeply dipping quartz-dolomite sulphide vein. The vein averages 5 ft (1.5 m) in width and can be traced for at least 660 ft (200 m) along strike. A historic grab sample contained 555 ppm (16.2 oz/ton) silver and 1.6 ppm gold. Visible gold, arsenopyrite, scheelite, and lead-antimony sulfosalts have been identified in hand specimen (Bundtzen and others, 2004).

Gulches converging on the intrusion have all been mined for placer gold.  Gold-bearing gravels are only three to four meters thick on the property, suggesting a recently weathered bedrock source.  Widespread amorphous silica is present in the stream gravels, along with cinnabar, native gold and native silver. Many of the large gold/quartz specimens have monzonite attached, suggesting a source within the intrusive, however, others have attached volcanic material suggesting additional potential for gold-bearing veins within the volcanics surrounding the monzonite intrusive. 

An active placer mine is in operation on the property, along with a recreational mining business where large gold/quartz specimens are found with metal detectors.  Photos of these specimens and the Moore Creek property can be seen at www.moorecreek.com.

Full Metal has an Option to acquire a 100% interest in the Property by incurring a total of US$1,000,000 in exploration expenditures over four years (US$50,000 first year), annual escalating cash payments to MCM from US$25,000 in the first year to $50,000 per year until 2016, with a one time cash payment of $US650,000 upon entry into a Mining Lease after Feb 1, 2011.  If Full Metal exercises the Option, it agrees to pay MCM a 1.5% NSR on all commercial mineral production.

A surface exploration program of additional soil sampling and mapping will commence in June of 2006, to be followed by trenching and possibly diamond drilling.  Nicholas Van Wyck, Ph.D., CPG will also supervise Full Metal’s 2006 exploration program. Analysis will be performed by ALS-Chemex Labs of Vancouver, B.C. A sample quality control/quality assurance program will be implemented.

Results and content of this release were reviewed and approved for release by Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., and a Qualified Person as defined by NI 43-101.

Full Metal Minerals was notified by Fury Explorations that they intend to drop their Option on the Ganes Creek Property in Alaska.  Full Metal is actively looking for another qualified company to enter into an Option Agreement for Ganes Creek.

Full Metal will be following up on the high grade Lucky Shot Discovery with a 60 hole, 10,000 metre diamond drilling program. Further plans for the 2006 field season in Alaska include a minimum of six diamond drill programs totaling $6 million in exploration. Full Metal has Joint Venture Agreements with Metallica Resources, Andover Ventures and Triex Minerals Corp.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Williams - President and Director Full Metal Minerals Ltd.

Contact: Jeff Sundar - Manager, Investor Relations

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

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.