Far West Mining Ltd. (TSX:FWM) is pleased to announce that diamond drilling is scheduled to commence on the Georgetown Silver-Lead-Zinc Project in Queensland, Australia during the third week of August, 2008. The Company plans to complete a ten-hole 3,000 metre program testing magnetic and electromagnetic geophysical targets within the next three months.

Far West Mining Ltd. (”the Company”), through its wholly-owned subsidiary Far West Mining Pty Ltd is currently exploring for Broken Hill-type (”BHT”) deposits (Broken Hill 280 Mt @ 8.5% Zn, 10.0% Pb, 150gpt Ag and Cannington 45 Mt @ 11.9% Pb, 4.8% Zn, 520gpt Ag) in the Georgetown area of Queensland, Australia under an option agreement with BHP Billiton. The Georgetown Project, located approximately 300km west of the port city of Townsville (see Figure 1), comprises four tenements covering approximately 1,600 sq km. The land package assembled by BHP Billiton covers lithology similar to that which hosted the Broken Hill deposit.

In 2007, the Company completed ground geophysical surveys and a drilling program that yielded encouraging results, confirming the presence of prospective host rocks with BHT style alteration under cover in the project area. The drilling campaign was limited to only two target areas within two of the four tenements due to the advent of the rainy season.

The 2008 field season commenced in June with an expanded ground magnetic survey to cover airborne geophysical anomalies not detailed in 2007. Promising new drill targets were generated and will be drill-tested this year. Drilling will also be carried out to follow significant alteration zones that were intersected in 2007.

To view Figure 1 accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/fwm0812.jpg

The Company may earn a 70% interest in the Georgetown Project (subject to certain back-in rights by BHP Billiton) by spending US $2,000,000 on exploration (including airborne and ground geophysical programs) by October, 2008. The Company expects to complete the exploration expenditure requirement and exercise its option during the month of August 2008.

The in-house qualified person responsible for the Project is Robert E. Hindson, P.Eng., Chief Executive Officer, President and a director of the Company who has reviewed and approved the contents of this news release.

Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties. The Company has current operations in Chile, Argentina and Australia.

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