FIRESTEEL ANNOUNCES RESULTS OF COPPER CREEK PROSPECTING PROJECT

VANCOUVER, Nov. 24 /CNW/ - Firesteel Resources Inc. (TSXV:FTR) ("Firesteel" or the "Company") is pleased to announce the results of a project (the "Project") recently completed on its flagship Copper Creek discovery property (the "Property"). The Project was awarded to UTM Exploration Services Ltd. of Smithers, B.C. ("UTM") who performed an assessment of the Property. The Property is located approximately 50 kilometers northwest of Telegraph Creek, B.C. and consists of 19 claims in a claim block covering approximately 6,800 contiguous hectares containing five alkalic, porphyry copper-gold targets in the resource rich Stikine Arch area of northwestern British Columbia. The Project which was awarded to UTM consisted of follow-up work on historic drill hole locations and historic trenching on three targets, inspecting and photographing drill core for future logging and correlation with previous assay results and determining the impact of a forest fire that had swept through a portion of Firesteel's Property. This Project is the first under the Company's plan for a new beginning ("Plan") announced by Firesteel in its news release of October 6, 2010. This Plan includes future testing of the ground on the Property to determine the aerial extent of mineralization and to determine the edges of the chargeability anomaly.

Background

During 2006, the Company carried out an extensive program of mechanical trenching, chip sampling and geological mapping on the Property to clarify the extent of the supergene zone and identify targets for the drill testing of the underlying hypogene zone. This was followed up with a drilling program in 2007. Trench 2006-01 returned 219 meters of 0.24% copper ("Cu") and 0.26 grams per tonne gold. ("g/t Au"). The geological mapping suggests that the mineralized zone is at least 700 meters long, exhibits supergene copper oxides and is open at either end. The eastern end of this trench returned 0.46% Cu and 0.19 g/t Au over a length of 72 meters. The western part of this trench occurs in an oxidized zone and it is interpreted that the copper values are depleted with respect to the underlying fresh rock. One kilometre to the northeast of the Dick Creek Zone, prospecting located a mineralized zone which returned several grab samples with greater that 0.5% Cu. One grab sample of vein material returned 12.1% Cu.

Mr. David DuPre (P. Geo), a director of Coltstar Ventures Inc., is a Qualified Person under the guidelines of National Instrument 43-101 and has reviewed and approved the geological information generated during his tenure with Firesteel, regarding the Copper Creek property contained in this news release. Mr. Dupre provides technical advice to the Company and is independent of Firesteel.

Drilling during 2007 on the Dick Creek target has confirmed grades with values as high as 0.85% Cu and 0.24 g/t Au over 12.45 meters for hole CC2007-02 and averaging 0.43% copper and 0.23 g/t Au over this 213.83 meter hole. (Firesteel news release dated October 8, 2010)

The Project

UTM personnel performed an assessment of the Property in late September 2010. The sampling via all terrain vehicle was undertaken in and around the Dick Creek area and regional sampling of the entire property was undertaken via helicopter. The on the ground sampling was designed to re-sample some of the historical trenching and some of the mineralized zones, while the helicopter regional sampling was designed to sample areas of potential interest that are without road access and areas that are peripheral to known mineralized corridors; i.e. Pyrrhotite Creek, north of Dick Creek, south of Copper Creek.

Road access and trail access to the Property from the nearby airstrip remain in good condition, with minor cleanup work required. A recent forest fire had burned through the area just south of the Dick Creek target area and throughout the Pyrrhotite Creek target area. The fire had destroyed all of the trees primarily in the Pyrrhotite Creek area, exposing rock which had previously been covered by vegetation. All of the Company's onsite camp facilities, equipment and core storage locations were not harmed by the fire.

A total of 26 grab samples were taken during the site visit: 2 at Pyrrhotite Creek; 10 at Dick Creek; 3 at Copper Creek; and 11 from outcrop outside of the main areas. Dick Creek remains the area of greatest interest. Ten samples were taken from sites around and within historic drill sites, trenches and along roadside trails where mineralization was visible. The rocks sampled were predominantly of monzonitic origin with a few samples taken from mineralized volcanics. The monzonite has been repeatedly recognized as the host rock for the Dick Creek mineralization. This was confirmed after the field work was completed on the Property based on analysis of the assay results. Dick Creek samples returned Cu values of 1.618% (sample # 848863), 0.21%, 0.14% and 0.68% (sample #'s 848957 - 848959). Pyrrhotite Creek, though visually of great interest, yielded poor assay results from the two sample sites. Sampling in this area was hampered by both snowfall and a burned forest floor. The Copper Creek samples and the outlying samples also returned poor assay results; however, significant assay results were not expected as the areas sampled were outside of known historical studies and were also unaltered mafic rocks. Many of the outlying sample sites consisted of ultramafics, gabbroic rocks and hornblendites, with minor intrusives in and around the south-easterly claims.

The Dick Creek and Copper Creek areas are both situated atop large hills. These topographic highs appear to be, through mapping and trenching, of porphyritic monzonitic origin, and it is this intrusive that has returned significant historic assay results to date. Thus, those areas of the Dick Creek and Copper Creek that are under moss or devoid of outcrop and have never been drilled suggest significant potential for continued mineralization on topography alone. The extensive roadside sites of outcrop that were splashed with azurite, malachite, pyrite, pyrrhotite and a variety of other (as yet unknown) sulphides demonstrate the promising potential of an area that extends beyond one kilometer in any direction, with deep subsurface drilling yet to establish the true extent to depth.

Anastasia Ledwon, P. Geo with UTM Exploration Services Ltd. is a Qualified Person under National Instrument 43-101, has supervised the Project and has reviewed and approved the technical content described under the Project heading of this news release. Ms Ledwon is a consulting geologist for and is independent of Firesteel. Ms. Anastasia Ledwon (P. Geo), of UTM Exploration Services Ltd., is a Qualified Person under the guidelines of National Instrument 43-101 and has reviewed and approved the geological information generated during her company's contract with Firesteel, regarding the Copper Creek property contained in this news release.

Firesteel is a junior minerals 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. The Company has been exploring its Copper Creek and ROK - Coyote discovery properties in northern British Columbia with strong showings of copper and gold mineralization. Firesteel maintains its interests in the oil and gas business through its 16 percent shareholding in Blacksteel Energy Inc. (TSXV:BEY).

ON BEHALF OF THE BOARD OF DIRECTORS OF

FIRESTEEL RESOURCES INC.

"Walter Wakula"
_________________________
Walter Wakula,
Chairman of the Board

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. Users of forward-looking statements are cautioned that actual results may vary from forward-looking statements contained herein. Forward-looking statements include, but are not limited to: expectations, opinions, forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance. Firesteel's Plan, potential deposits and mineralization and promising potential on its Property in this news release (together, the "Significant Matters") and all outcomes are subject to risks, uncertainties, assumptions and other factors which could cause actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements. Although the Company 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. The ability of Firesteel to complete the Significant Matters may be affected by a variety of variables and risks including the ability to obtain the necessary approvals, complete the formal agreements and satisfy regulatory requirements related to the matters contemplated by the Significant Matters. In the event that the Significant Matters are completed the ability of the Company to derive any benefit there from will be subject to a variety of variables and risks such as loss of market, copper and gold prices, currency fluctuations, environmental risks, competition from other producers, ability to access sufficient debt and equity capital from internal and external sources and ability to generate sufficient cash flow from operations to meet current and future obligations; 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 new 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.

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FIRESTEEL ANNOUNCES RESULTS OF COPPER CREEK PROSPECTING PROJECT