Full Metal Announces $4,000,000 Equity Financing

Not for dissemination in the United States or through U.S. newswires

FOR IMMEDIATE RELEASE May 13, 2010 (FMM 2010 – NR #4)

FULL METAL ANNOUNCES $4,000,000 EQUITY FINANCING

May 13, 2010 Vancouver, British Columbia – Full Metal Minerals Ltd. (TSXV:FMM) (“Full Metal” or the “Company”) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (“Canaccord Genuity”, or, the “Agent”) to sell up to 20,000,000 units (the “Units”), on a private placement basis, at a price of $0.20 per unit for gross proceeds of up to $4,000,000 (the "Offering"). A Unit will consist of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole warrant will entitle the holder to subscribe for one additional common share at a price of $0.28 for a period of 24 months from the date of closing. Completion of the private placement will be subject to usual conditions, including satisfactory due diligence and regulatory approval, including acceptance of the TSX Venture Exchange.

As consideration for acting as Agent, Canaccord Genuity will be paid a commission of 7% of the total proceeds raised upon closing and issued agents' warrants ("Agents' Warrants") equal to 8% of the Units issued pursuant to this Offering. Each Agents' Warrant will be exercisable to acquire one common share at $0.25 expiring 24 months after the closing date.

The Company has also granted the Agent an over-allotment option to increase the Offering by up to $1,000,000, exercisable 48 hours prior to closing.

The Company intends to use the net proceeds from the offering to advance the Company's exploration properties and for general working capital purposes.

ON BEHALF OF THE BOARD OF DIRECTORS

"Michael Williams"

Michael Williams President and Director

Contact: Jeff Sundar Vice President, Investor Relations

Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2 Telephone: 604-484-7855 Fax: 604-484-7155 Email: [email protected] Website: www.fullmetalminerals.com

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