January 19, 2011 (FinancialWire) (The Small Cap News Leader http://www.financialwire.net/) — Firestone Ventures, Inc. (FV – TSX Venture) (F5V – Frankfurt) Approx. Market Cap C$ 12.1 Mil.) closed a non-brokered private placement previously announced on December 20, 2010. The offering consisted of 13,455,000 units at a price of $0.10 each, yielding gross proceeds of C$1,345,500.

Each Unit consisted of one common share and a one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one common share for a price of $0.15/share at any time within 24 months of issuance.

The common shares and warrants comprising the units and common shares issuable upon exercise of the warrants are subject to a four month restricted period which expires on May 19, 2011. In connection with the private placement and in accordance with regulatory requirements, the company paid certain arms-length parties an aggregate of $85,295 pursuant to TSX Venture Exchange policy, and completion of the offering is subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.

The units were sold to qualified purchasers in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. Proceeds will be used primarily for exploration on existing properties in Nevada and Guatemala, as well as for general working capital.

Firestone Ventures is a Canada-based resource exploration and development company with zinc-lead-silver projects in Central America and Nevada.

Exchange Links: Firestone Ventures, Inc. (FV – TSX Venture) (F5V – Frankfurt)

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