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Re:   News Release - Monday, December 08, 2008
      Firestone Ventures Update for 2008/2009 Field Season
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December 8, 2008 - Firestone Ventures Inc. (FV:TSX-V;F5V:FSE) is
pleased to provide a corporate and management update, the 2008/2009
workplan for the Torlon Hill zinc-lead property and further details on
recent property acquisitions.

"We have met all the goals we set out early this year despite
challenging market conditions.  We focused on metallurgical testwork,
completing a NI 43-101 compliant resource estimate, strategic land
acquisitions and drilling an additional 3500 metres at Torlon Hill,"
says Lori Walton, President of Firestone Ventures.  "Our objective is
to preserve cash this season by advancing the metallurgical work on
Torlon Hill ore and to define additional exploration targets through
low-cost surface exploration.  While zinc prices are currently very
low, we are anticipating that the metallurgical work, together with the
new property acquisitions and exploration will be key factors for
future growth of the company."

Corporate and Management Update: New VP of Exploration
Firestone is pleased to announce the appointment of John Cleary as Vice
President, Exploration effective Dec. 1, 2008.  Mr. Cleary is a
Certified Professional Geologist and a California Registered Geologist
with 35 years of extensive experience in the natural resource industry
consulting to international senior and junior mining companies. He
graduated from the University of Montana (M.Sc in Economic Geology) in
1976 and Dartmouth College (B.A in Geology) in 1974. Mr. Cleary is also
a Graduate Gemologist (2005) from the Gemological Institute of America.
 He has acted as Firestone's "Qualified Person" for the Torlon project
as defined under National Instrument 43-101

Firestone Ventures' Annual General Meeting will be held in Edmonton,
Alberta, Canada, December 8, 2008.

2008/2009 Workplan for Torlon Hill Zinc-Lead Property and Surrounding
Area
The 2008/2009 exploration and development program will consist of
further metallurgical testwork and surface exploration consisting of
mapping, soil sampling and prospecting.  In addition, socio-economic
initiatives, road building and environmental baseline surveys in
conjunction with regional exploration and data compilation are planned.
  A drill program is possible, but is subject to improved market
conditions.  The proposed workplan and budget details are being
finalized. 

New Property Acquisitions
Firestone is pleased to announce that it has closed a Final Agreement
pursuant to the Memorandum of Understanding (see news release September
17, 2008) to purchase a 100% interest in 12 exploration concessions in
Guatemala.  In consideration, Firestone has approved the issuance of
1.5 million common shares to the underlying vendors. A total of 1.4
million shares were issued on signing at a deemed price of $0.06.
Pursuant to the terms of the Final Agreement, and subject to certain
conditions being met, the remaining 100,000 shares will be issued at a
deemed price equal to the closing price of the shares on the date of
issuance.  The shares are subject to a one year trading restriction.
Each of the concessions is subject to a 2% NSR, of which 1% is
purchaseable for $1.25 million.  In addition, the vendors will receive
10% of the cash proceeds of any sale involving 100% interest in any of
the concessions up until Dec. 2, 2010.  Firestone also paid USD $31,500
in fees related to the new properties to the Guatemala Ministry of
Energy and Mines.  The Final Agreement is subject to TSX-Venture final
approval. 

Most of the new properties are situated in the historical carbonate
hosted zinc-lead-silver Chuchumatanes and Coban mining districts.
Three of the properties surround Firestone's existing 50 sq km land
position at Torlon in western Guatemala and effectively doubles the
size of the prospective area for further zinc discoveries surrounding
the Torlon deposit. 

In addition, the acquisition places Firestone with a key position in
the historic Coban zinc-lead base metal district 120 km northeast of
Guatemala City in central Guatemala.   The land acquisitions include
the Caquipec carbonate hosted zinc-lead past producer, which has
produced an unknown amount of zinc and lead from extensive underground
workings since 1900.

Very little modern zinc exploration has taken place in these two
districts despite the historic mining of surface deposits.  Exploration
technology, new processing technologies for zinc and zinc oxide ores
and the understanding of the occurrence and genesis of carbonate-hosted
base metal deposits has significantly advanced over the past 50 years,
increasing the potential for economic deposits and new discoveries. 

In addition to the base metal properties, the acquisitions include
polymetallic and precious metal prospects.  Firestone plans to focus on
low-cost data compilation and re-interpretation of historical data for
all the properties as part of the 2008/2009 workplan.

Firestone Ventures Inc. is a Canadian-based resource exploration and
development company.  The common shares of the Company are currently
listed on the TSX Venture Exchange and the Frankfurt Stock Exchange.
For further information please contact:

Lori Walton, P. Geol., President       
info@firestoneventures.com

Toll Free:  1-888-221-5588
www.firestoneventures.com  

Trading Symbol: FV: TSX-V;F5V: FSE
Fax:  (780) 428-3476

For Investor Relations please call:  Contact Financial Inc. at (604)
689-7422

This news release may contain forward looking statements, being
statements which are not historical facts, including, without
limitation, statements regarding potential mineralization, exploration
results, resource or reserve estimates, anticipated production or
results, sales, revenues, costs, "best-efforts" financings or
discussions of future plans and objectives. There can be no assurance
that such statements will prove accurate. Such statements are
necessarily based upon a number of estimates and assumptions that are
subject to numerous risks and uncertainties that could cause actual
results and future events to differ materially from those anticipated
or projected. Important factors that could cause actual results to
differ materially from the Company's expectations are in Company
documents filed from time to time with the TSX Venture Exchange and
provincial securities regulators, most of which are available at
www.sedar.com. The Company disclaims any intention or obligation to
revise or update such statements. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release.

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Copyright (c) 2008 FIRESTONE VENTURES INC. (FV)  All rights reserved.
For more information visit our website at
http://www.firestoneventures.com/ or send
mailto:returns@firestoneventures.com
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