Farallon Commences Shipping Concentrates to Asian Smelters

    VANCOUVER, Feb. 23 /CNW/ - Dick Whittington, President and CEO of
Farallon Resources Ltd. ("Farallon" or the "Company") (TSX:FAN) is pleased to
announce that Farallon has commenced the shipping of zinc, copper, and lead
concentrates from the Port of Manzanillo, Mexico to smelters in Asia. This
marks the first and second loads of concentrates from the G-9 Mine onto
vessels for shipment to the smelters.
    Farallon has been trucking concentrates to the port of Manzanillo since
October 12, 2008 (see Farallon News Release October 16, 2008). Since that time
Farallon has been building an inventory of concentrates available to maintain
regular shipments on a going forward basis.
    On February 12, 2009, Farallon shipped approximately 5,500 tonnes of zinc
concentrate, 1,000 tonnes of lead concentrate, and 500 tonnes of copper
concentrate onboard the vessel "Miltiadis Junior II", which called into
Manzanillo with the final destination ports of Onsan, South Korea, Jinzhou,
China, and Lianyungang, China. Farallon's second shipment of concentrates
included approximately 5,300 tonnes of zinc concentrate, and 500 tonnes of
copper concentrate aboard the vessel "Ocean Star" which sailed on February 21,
2009 to the respective destination ports of Onsan, South Korea and Nanjing,
    For photos of the loading of the G-9 concentrates on to the vessels,
please follow the link below to view:

    President and CEO Dick Whittington stated "The commencement of vessel
shipments is yet another significant milestone in the overall development of
the G-9 Mine. This initiates our off-take agreements with Trafigura Beheer BV
Amsterdam and revenue generation has now started for the Company. Everyone
associated with Farallon should be very proud as the start of vessel shipments
is a very important step in that process."
    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.

    J.R.H. (Dick) Whittington
    President and 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

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Farallon Mining Ltd.

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