Union Negotiations Concluded for Farallon's G-9 Project



    VANCOUVER, Sept. 15 /CNW/ - Dick Whittington, President and CEO of
Farallon Resources Ltd. ("Farallon" or the "Company") (TSX: FAN; OTCBB: FRLLF)
announces that the Company has successfully concluded negotiations with
Sindicato Nacional de Trabajadores Mineros, Metalurgicos y Similares de la
Republica Mexicana, the Mexican mining labour union at its G-9 Project at the
Campo Morado property in Mexico. The monetary settlement will be effective
September 1, 2008 and be in effect until August 31, 2009. Unionized employees
at the G-9 Project will receive a 5% increase to their base wage and an
additional 1% lump sum payment (calculated utilizing an estimate of annualized
base wage). All other terms of the current collective agreement have been
extended and will continue to be in force until the parties meet in January to
discuss potential language amendments.
    President and CEO Dick Whittington said "I am pleased to have reached
this agreement with the union at G-9. It is a testament to the strong
relationship we have developed with the union on a number of fronts over the
last year. This agreement will provide Farallon and the union with the
required labour stability in which to make the transition to an operating
mining company. I wish to thank all the individuals that were able to bring
these negotiations to a very timely conclusion."
    Farallon is advancing the G-9 polymetallic (zinc, copper, silver, gold,
lead) project at Campo Morado. 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.

    
    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) 684-6365 or within North America at 1-800-667-2114

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Farallon Mining Ltd.

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