Firestone Ventures Announces Non-Brokered Private Placement

EDMONTON, ALBERTA -- (Marketwire) -- 11/29/11 -- Firestone Ventures Inc. ('Firestone' or the 'Corporation') (TSX VENTURE: FV)(FRANKFURT: F5V) announced today it intends to proceed with a non-brokered private placement offering of up to 20,000,000 units ('Units') at a subscription price of $0.05 per Unit for gross proceeds of up to C$1,000,000. Each Unit will consist of one common share and one common share purchase warrant ('Warrant'). Each Warrant will entitle the holder to purchase one common share for a price of $0.10 for a period of 12 months from closing. The securities to be issued will be subject to a four month resale restriction.

The Private Placement will be conducted in reliance upon certain prospectus and registration exemptions. The net proceeds from the placement will be used for exploration on existing properties and for general working capital. The Corporation may pay a finder's fee in connection with the private placement.

Completion of the offering is subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.

Firestone Ventures Inc. is a Canadian-based resource exploration and development company with zinc-lead-silver projects in Central America and Nevada, U.S.A. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Firestone Ventures Inc.

Lori Walton, P. Geol.

President

Toll Free: 1-888-221-5588

(780) 428-3476 (FAX)
info@firestoneventures.com
www.firestoneventures.com