CORRECTION FROM SOURCE: Firestone Ventures Announces Share Consolidation

EDMONTON, ALBERTA -- (Marketwire) -- 08/24/12 -- The following corrects and replaces the release issued at 9:00 am ET on August 24, 2012 for Firestone Ventures Inc. (TSX VENTURE: FV)(FRANKFURT: F5V). The news release issued this morning had the incorrect number of shares listed.

Firestone Ventures Inc. (the "Corporation") announces that the TSX Venture Exchange has accepted notice of the share consolidation that was approved by the shareholders at the Annual and Special Meeting held on June 7, 2012.

Effective at the opening of trading on August 27, 2012, the Corporation will trade on a consolidated basis of one new Common Share for every five Common Shares currently issued and outstanding. The trading symbol will remain the same: FV. On a post-consolidated basis, there will be 24,943,951 common shares issued and outstanding.

The Transfer Agent, Valiant Trust Company, will issue letters of transmittal to shareholders who wish to receive new share certificates.

Firestone's core business is exploration for zinc in the Americas, primarily focused on Guatemala. Firestone has assembled a 700 km2 land package in the Guatemala zinc belt which has seen little modern exploration. The Company is conducting regional exploration programs for zinc-lead-silver mineralization and is currently compiling historical and current data into a single digital database.

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.

Pamela Strand, P. Geol.

President

Toll Free: 1-888-221-5588

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