Farallon Completes Initial Closing of Financing



    
    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/
    

    VANCOUVER, Feb. 26 /CNW/ - Dick Whittington, President and CEO of
Farallon Resources Ltd. ("Farallon" or the "Company") (TSX: FAN) announces
that the Company has completed an initial closing of $5 million of the
previously announced private placement financing arranged by a syndicate led
by Paradigm Capital Inc., which included Wellington West Capital Markets Inc.
    Farallon has advanced the G-9 polymetallic (zinc, copper, silver, gold,
lead) project at its Campo Morado Property in Mexico through a 'Parallel
Track' program. Surface facilities were largely completed in mid 2008,
followed by mill commissioning and underground stope development during the
balance of 2008. The mine is currently in production and targeting reaching
design capacity of 1500 tpd in February 2009.

    
    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 or
resource potential, continuity of mineralization, exploration drilling,
operational activities, production rates, costs to completion 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 and may require
achievement of a number of operational, technical, economic and legal
objectives. The likelihood of continued future mining at Campo Morado is
subject to a large number of risks, including obtaining lower than expected
grades and quantities of mineralization and resources, lower than expected
mill recovery rates and mining rates, changes in and the effect of government
policies with respect to mineral exploration and exploitation, the possibility
of local disputes including blockades of the company's property, the
possibility of adverse developments in the financial markets generally,
fluctuations in the prices of zinc, gold, silver, copper and lead, obtaining
additional mining and construction permits, preparation of all necessary
engineering for ongoing underground and processing facilities as well as
receipt of additional financing to fund mine construction, development and
operation, if needed. 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.





For further information:

For further information: For further details on Farallon Resources Ltd.,
please visit the Company's website at www.farallonresources.com or contact
Investor Services at (604) 638-2160 or within North America at 1-800-667-2114

Organization Profile

Farallon Mining Ltd.

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