Farallon Announces Private Placement Financing to Raise $10 Million


    VANCOUVER, Feb. 13 /CNW/ - Dick Whittington, President and CEO of
Farallon Resources Ltd. ("Farallon" or the "Company") (TSX: FAN) announces
that the Company plans to raise up to $10 million through a private placement.
    The Company plans to issue up to 50 million common shares at the price of
$0.20 per share through a brokered offering to be arranged on a best efforts
basis by a syndicate led by Paradigm Capital Inc and including Wellington West
Capital Markets Inc. (the "Agents"). A commission equal to 6% of the proceeds
from the offering is payable to the Agents. In addition, the Agents will be
entitled to receive compensation options exercisable for that number of common
shares equal to 6% of the number of shares issued under the offering for a
period of 24 months at a price of $0.20 per share.
    The securities issued under the offering will be subject to a four month
hold period under Canadian securities legislation and these securities will
not be registered under the United States Securities Act of 1933 and may not
be offered or resold in the United States absent an exemption from
registration under that Act.
    The proceeds from the offering will be used for general working capital
purposes. Closing of the offering is targeted to be completed on or about
March 5, 2009 and is subject to stock exchange approval.
    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. The mine is
currently in production and targeting reaching design capacity of 1500 tpd in
February 2009.


    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 and the Company's annual report on Form 40-F
at www.sec.gov.

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

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Farallon Mining Ltd.

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