Firestone Ventures Inc. - Firestone Ventures Inc. Plans Spin-out of Canadian Properties and Signs Memorandum ...

...of Understanding with Sherwood Copper Corp.

EDMONTON, ALBERTA--(Marketwire - March 03, 2008) - Firestone Ventures Inc. (TSX VENTURE: FV)(FRANKFURT: F5V) is admiring to advertise it affairs to spin-out its Canadian assets, including the Sonora Gulch gold project, into a new accessible aggregation alleged Northern Tiger Resources Inc. This will acquiesce Firestone to focus its assets and efforts on advancing the Torlon Hill activity and its added interests in the arising Cuchumatanes zinc-lead-silver commune in Guatemala, while giving shareholders acknowledgment to a new aggregation focused primarily on analysis in the breath Dawson Range in the axial Yukon. Details apropos the attributes and timing of this transaction are currently accepting accomplished by Firestone's management, and will be accountable to Northern Tiger commutual a acknowledged clandestine adjustment and accepting appropriate TSX-V, court, actor and authoritative approvals.

In addition, Firestone active a Memorandum of Understanding (MOU) with Sherwood Copper Corp. (TSX VENTURE: SWC) and their wholly endemic accessory Minto Explorations Ltd. (collectively Sherwood) to abet in exploring Yukon's Dawson Range area.

Under the agreement of the MOU, Sherwood will advertise to Northern Tiger a 100% absorption in four Dawson Range analysis backdrop and an all-encompassing actual analysis database for the region. In addition, Northern Tiger and Sherwood will access into a Regional Exploration Alliance Agreement (REAA). The REAA will accommodate for ascribe and cooperation on planning and active analysis programs and abiding strategies for the area, administration of proprietary abstruse ability to abetment in analysis and activity advancement, and acceptance to Sherwood's basement to facilitate across exploration.

Sherwood will absorb back-in rights to access a 65% absorption in any of Northern Tiger's projects amid aural a 50 km ambit that are begin to accept mineralization acquiescent to processing in Sherwood's absolute Minto Mine facilities. The back-in rights are triggered aural 30 canicule of Northern Tiger presenting Sherwood with an absolute basic bread-and-butter appraisal able in accordance with National Instrument 43-101 on a accurate property. Sherwood will pay to Northern Tiger two times the expenditures spent on the applicative acreage to the date of accretion and become sole operator. The back-in rights may aswell be triggered aural 30 canicule of Northern Tiger presenting Sherwood with a National Instrument 43-101 adjustable absolute pre-feasibility study. Sherwood will pay to Northern Tiger three times the expenditures spent on the applicative acreage to the date of accretion and will become sole operator.

As application for the analysis properties, actual database and abutment through the REAA, Northern Tiger shall affair to Sherwood that amount of shares agnate to twenty-five (25%) of the issued and outstanding shares of Northern Tiger as of the date anon above-mentioned to a clandestine adjustment planned to accommodate operating and analysis allotment for the new company.

Closure of the transaction is accountable to a amount of conditions, including beheading and Board of Director approval of academic agreements and accepting appropriate authoritative and actor approvals.

"The Spin-out will acquiesce Firestone to apply on our beat Torlon Hill zinc-lead-silver activity in Guatemala while abbreviation approaching banal dilution," says Lori Walton, President of Firestone Ventures Inc. "We are assured that Firestone shareholders will account from the experience, ability and capabilities of the Northern Tiger-Sherwood Copper analysis accord in advancing the Sonora Gulch activity and anecdotic added above projects in the Dawson Range mining district."

"By this transaction, Sherwood Copper would accretion acknowledgment to analysis targets alfresco of its Minto Mine property, accepting both (1) a aback in appropriate to any deposits apparent abutting to its absolute abundance basement that could be candy at the absolute basement and (2) disinterestedness acknowledgment to any added discoveries fabricated through this alliance," said Stephen Quin, President & CEO of Sherwood Copper. "I accept this is a win-win transaction for our corresponding shareholders that accelerates the analysis action in the across of the Minto Mine and in the Yukon, above what Sherwood would do on its own."

Contacts:
Firestone Ventures Inc.
Lori Walton, P. Geol.
President
Toll Free: 1-888-221-5588
(780) 428-3476 (FAX)
Email: info@firestoneventures.com
Website: www.firestoneventures.com

Contact Financial Inc.
Investor Relations
(604) 689-7422
Email: FV@agoracom.com
Website: www.agoracom.com/IR/Firestone

Firestone Ventures Inc. is a well-financed Canadian-based ability analysis and development aggregation with zinc, gold and uranium projects in Western Canada and Central America. The accepted shares of the Company are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).


The TSX Venture Exchange does not access albatross for the adequacy or accurateness of this release.


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