FIRESTEEL ANNOUNCES EXPLORATION RESULTS FROM THE VIRIMOA PROPERTY IN DURANGO STATE, MEXICO

December 20, 2000                    Trading Symbol: CDNX-FTR

Firesteel Resources Inc. is pleased to announce the results from the recently completed exploration program on the wholly owned Virimoa Property in the northern part of Durango Province, Mexico. This program involved soil and rock geochemistry, grid establishment and geological mapping. 

The road-accessible property is located in an area with a long history of small-scale gold and silver mining. The mineralized tract is hosted by a prominent argillic and siliceous alteration zone, which is at least 400 meters long and 100 meters wide. The altered Middle Andesite Unit is cut by a well-developed system of sheeted veins, disseminations and lenses up to 2 meters wide. 

In April 2000, an independent consultant contracted by Firesteel Resources Inc. sampled the altered and mineralized zone. Nine chip samples were collected from outcrops along a creek over a length of 350 meters. These separate samples varied in length form 8 meters to 50 meters. These samples returned an arithmetic average grade of 1.04 g/t gold, 59.4 g/t silver and 1.1% zinc. A 16-meter chip sample at the end of the traverse returned 3.38 g/t gold, 26.2 g/t silver and 4.93% zinc. 

The recent grid-controlled, soil-sampling program delineated strong gold, silver, lead and zinc anomalies. The gold-in-soil anomaly is defined by values greater than 200 ppb with a maximum value of 1490 ppb gold. These anomalous values are 10 times greater than the background values (20 ppb gold) on the grid.  The gold anomaly extends along the entire length of the 600m-long grid and varies in width from 50 to 150 meters. Continuous chip sampling from a creek-cut (perpendicular to the long axis of the mineralized zone) returned 0,90 g/t gold, 37 g/t silver and 0.34% zinc over 31 meters. Grab samples returned values up to 36.92 g/t gold and 200 g/t silver from a narrow vein. 

Natural gas revenues from the Sundance Field continue to improve as the product prices escalate. Revenue (net of royalties) for the nine-month period ended October 31, 2000 was $105,343. 

ON BEHALF OF THE BOARD OF DIRECTORS OF

FIRESTEEL RESOURCES INC.

“David G. DuPre"

__________________________

David DuPre, President

The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.