Farallon completes $25 million financing



    /NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US WIRE SERVICES/

    VANCOUVER, Sept. 9 /CNW/ - Dick Whittington, President and CEO of
Farallon Resources Ltd. ("Farallon" or the "Company") (TSX: FAN; OTCBB: FRLLF)
announces that it has closed the $25 million private placement financing
arranged by a syndicate led by Paradigm Capital Inc., which included
Wellington West Capital Markets Inc., and is described in the Company's
September 3, 2008 news release.
    Farallon is advancing the G-9 polymetallic (zinc, copper, silver, gold,
lead) project at its Campo Morado Property in Mexico. Employing a 'Parallel
Track' program, Farallon has expanded and confirmed the high-grade
mineralization within the G-9 deposit through drilling in parallel with
project development activities. An underground decline has reached the North
and West Extension zones of the G-9 deposit and underground drilling, and
stope access and development is underway. Mill commissioning is well underway
and concentrate is being produced. Haulage and sale of concentrates is
expected to begin in October. Access for stope development in the high-grade
Southeast zone is expected in December, with full production at 1,500 tonnes
per day targeted for January 2009.
    President and CEO Dick Whittington said "This financing will provide
Farallon with a foundation on which to complete construction, make the
transition to an operating mining company and generate future growth. I am
particularly pleased to be able to conclude it at such a difficult time in the
debt and equity markets, and I would like to thank, in particular, Paradigm
Capital for their support in putting it together."

    
    ON BEHALF OF THE BOARD OF DIRECTORS

    J.R.H. (Dick) Whittington
    President & CEO

    No regulatory authority has approved or disapproved the information
    contained in this news release

                         Forward Looking Information
    

    This release includes certain statements that may be deemed
"forward-looking statements." All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, continuity of mineralization, exploration drilling, exploitation
activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes that the
expectations expressed in such forward looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from
those in the forward looking statements. The likelihood of future mining at
Campo Morado is subject to a large number of risks and may require achievement
of a number of technical, economic and legal objectives, including obtaining
lower than expected grades and quantities of mineralization and resources,
recovery rates and mining rates, changes in and the effect of government
policies with respect to mineral exploration and exploitation, the possibility
of adverse developments in the financial markets generally, delays in
exploration, development and construction projects, fluctuations in the prices
of zinc, gold, silver, copper, lead and other commodities, completion of
pre-feasibility and final feasibility studies, preparation of all necessary
engineering for underground and processing facilities as well as receipt of
additional financing to fund mine construction. Such funding may not be
available to the Company on acceptable terms or on any terms at all. There is
no known ore at Campo Morado and there is no assurance that the mineralization
at Campo Morado will ever be classified as ore. For more information on the
Company and the risk factors inherent in its business, investors should review
the Company's Annual Information Form at www.sedar.com and the Company's
annual report on Form 20-F at www.sec.gov.





For further information:

For further information: on Farallon Resources Ltd., please visit the
Company's website at www.farallonresources.com or contact Investor Services at
(604) 638-2050 or within North America at 1-800-667-2114

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Farallon Mining Ltd.

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