Firesteel Resources Inc. - News Release



    Trading Symbol: FTR - TSX: V

    VANCOUVER, Oct. 24 /CNW/ - Firesteel Resources Inc. ("Firesteel") has
granted incentive stock options to a director of the company for the purchase
of a total of 150,000 common shares at an exercise price of $0.13 cents per
share, expiring October 24, 2012. Additionally, Firesteel granted issuance of
73,600 common shares of the company at a deemed prices of $0.15 per share in
lieu of cash for services provided.

    Firesteel is a junior exploration company which explores for and develops
quality precious and base metal prospects in British Columbia, the NWT and
Mexico, and oil sands properties in Alberta. The company has recently been
actively drilling and trenching on its Copper Creek property in northern
British Columbia with strong indications of copper and gold mineralization.
Firesteel has also entered the oil sands business with the acquisition of
leases in the Peace River area of northern Alberta through its Blacksteel Oil
Sands subsidiary.

    ON BEHALF OF THE BOARD OF DIRECTORS OF
    FIRESTEEL RE

SOURCES INC. "Walter Wakula" -------------------------- Walter Wakula, President and CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Forward-looking Information: Certain statements may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. %SEDAR: 00004336E

For further information:

For further information: please contact us at (604) 669-5768,
1-888-669-5768 or visit our web site at www.firesteelresources.com

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Firesteel Resources Inc.

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