FIRESTEEL COMPLETES PRIVATE PLACEMENT

Firesteel Resources Inc. is pleased to announce that it has closed its non-brokered private placement. Total proceeds were $82,500 - most of which will be dedicated to the exploration of the Virimoa Property in Durango Province, Mexico. This program will commence in early November and consist of grid establishment, soil and chip sampling, trenching and geological mapping.

Revenue (net of royalties) from the Sundance Gas Well was $61,196 for the six-month period ended July 31, 2000. The strong revenue is related to the recent escalation in the price of natural gas. net income for the same six-month period is $17,403.

ON BEHALF OF THE BOARD OF DIRECTORS OF
FIRESTEEL RESOURCES INC.

David G. Dupré, President

The Alberta Stock Exchange has neither approved nor disapproved the information contain herein.

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