Firesteel affiliate, Blacksteel, announces appointment of President

    Trading Symbol: FTR - TSX: V

    VANCOUVER, June 19 /CNW/ - Mr. Walter Wakula, President and CEO of
Firesteel Resources Inc. (Firesteel), and Chairman of the Board of Blacksteel
Oil Sands Inc. (Blacksteel) is pleased to announce that Firesteel's affiliated
company Blacksteel has appointed Mr. Jacques Soroka, P.Eng., MBA as President.
Jacques, currently a Director of Blacksteel, brings over 17 years of
management and engineering experience in the heavy oil and petro-chemical
sectors of the petroleum industry.
    Jacques was recently Manager of Heavy Oil at a leading mid-sized
engineering and construction company and previous to that, Project Manager
with a large firm specializing in engineering services to the heavy oil
business. He will head up operations of the company with an initial priority
to establish the drilling program for Blacksteel's Raven and Whitemud
    Jacques was educated at the University of Ottawa and Simon Fraser
University and holds a Bachelor of Applied Science in Chemical Engineering and
a Bachelor of Science in Biochemistry. He has also earned an MBA degree and is
a member of the Association of Professional Engineers, Geologists and
Geophysicists of Alberta.
    In announcing the appointment Mr. Wakula said, "We are thrilled to have
Jacques on board; his extensive heavy oil experience will be crucial in
growing and moving the company forward, namely defining our resource base and
charting our path forward for our Raven and Whitemud projects. We look forward
to his leadership in setting and executing the company's plans."
    "I am excited about the opportunity to grow Blacksteel. I believe
Blacksteel has great assets that will increase our shareholders value as we
exploit the resources." Mr. Soroka said following his appointment.

    Firesteel is a junior exploration company which explores for and develops
quality precious and base metal prospects in the resource rich Stikine Arch
area of British Columbia, and in the NWT and Mexico. Firesteel has been
actively drilling and trenching on its Copper Creek property in northern
British Columbia with strong showings of copper and gold mineralization.
Firesteel maintains its interests in the oil sands business through its
40 percent shareholding in Blacksteel Oil Sands Inc., a junior oil sands
exploration company.


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. Advisory Regarding Forward Looking Statements This news release contains forward-looking statements which include, but are not limited to: statements regarding future drilling, expectations for exploration prospects, as well as operations plans, outlook, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Firesteel believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of the Company may be affected by a variety of variables and risks associated with mineral and oil and gas exploration, production and transportation, such as loss of market, volatility of commodity prices, currency fluctuations, imprecision of resource and reserve estimates, environmental risks, competition from other producers, ability to access sufficient debt and equity capital from internal and external sources, ability to generate sufficient cash flow from operations to meet its current and future obligations, and risks associated with existing and potential future lawsuits and regulatory actions made against the Company; as a consequence, actual results could differ materially from those anticipated or implied in the forward-looking statements. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this news release. Unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, event, results or circumstances or otherwise. %SEDAR: 00004336E

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