Farallon Trucks First Concentrate Produced at G-9

    VANCOUVER, Oct. 16 /CNW/ - Farallon Resources Ltd. ("Farallon" or the
"Company") (TSX: FAN; OTCBB: FRLLF) announces that that it has begun shipments
of zinc concentrates from its high grade G-9 Project at the Campo Morado
(zinc, copper, lead, silver, gold) property in Guerrero State to the port of
Manzanillo, in Colima State on the west coast of Mexico. The first truckloads
of zinc concentrates were shipped on October 12, 2008.
    The port at Manzanillo is a full service facility through which mineral
products from a number of mines in central Mexico are shipped. Concentrates
are being trucked in bulk from the site to the port. It is expected that some
1,600 tonnes will be produced and shipped each week over the next few months
during the completion of the commissioning period. This will increase to 2,600
tonnes per week when the full mine production rate of 1,500 tonnes per day is
achieved, targeted to begin in January 2009.
    "The initiation of truck shipments of concentrate from G-9 is another
significant milestone in the development of the G-9 Project. This is the
result of the efforts of a number of people, helping to transform Farallon to
a production company," said President and CEO Dick Whittington. "The next
major step is the initiation of our off-take agreements with Trafigura Beheer
BV Amsterdam and commencement of revenue generation for the G-9 mine."
    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. Drilling has expanded and confirmed the high-grade
mineralization within the G-9 deposit in parallel with project construction
and development activities. Underground decline access reached the North and
West Extension zones of the G-9 deposit by mid August and underground
drilling, and stope access and development is ongoing as well as the
finalization of mill commissioning. Access for stope development in the
high-grade Southeast zone is expected in December, and full production of
1,500 tonnes per day is targeted for January 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
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, obtaining
additional mining and construction permits, 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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