Firestone Ventures Inc.



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 Wed May 5, 2004
Private Placement Of Flow-Through Units

 Changes To Management And Board Of Directors

Firestone Ventures Inc. ("Corporation") is pleased to announce that it intends on proceeding with a non-brokered private placement consisting of the sale of up to 3,333,333 units at $0.15 each. Each unit will consist of one flow-through common share and one half non-transferable share purchase warrant entitling the holder to purchase an additional common share for $0.20 for a period of 18 months. The shares issuable upon the exercise of the share purchase warrants will not qualify for flow-through benefits.

The proceeds of the private placement will be used for mineral property exploration. The completion of the private placement is subject to the prior receipt of all required regulatory approvals including the acceptance of the TSX Venture Exchange.

Firestone Ventures Inc. also wishes to announce the resignation of Mr. L. James Porter from the Board and as CFO of the Corporation. Mr. Porter wishes to pursue other interests, but will make himself available on an as-needed basis through the transition period. Ken Powell, current President and Chairman of the Corporation will assume the CFO position on an interim basis.

For further information contact:
Ken Powell
President and Chairman
Toll Free: 1-888-221-5588

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

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