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Firesteel appoints new director and grants stock options

^{Published on 2011-09-07 11:21:43 - Market Wire}
 

Trading Symbol: FTR- TSX: V

VANCOUVER, Sept. 7, 2011 /CNW/ - Firesteel Resources Inc. (TSXV:FTR) ("Firesteel" or the "Company") is pleased to announce the appointment of Mr. Eugene Chen to the Board of Directors of the Company and announces the award of stock options.  The Company also announces that Mr. Rolland Menard has resigned as a director and is appointed a technical consultant to the Company.

Mr. Chen is a Partner in the securities, corporate finance, and mergers and acquisitions group with Gowling LaFleur Henderson LLP.  He has more than 15 years of experience in advising emerging and growth-oriented companies on corporate finance, mergers and acquisitions and securities matters.  Mr. Chen has been counsel to numerous mineral exploration companies and provided advice on corporate and transactional structure, capital financing and corporate governance.  He is a director and/or officer of numerous public and private companies.

In announcing the changes Walter Wakula, Firesteel's interim CEO and Chairman stated: "We are continuing to round out the skill set of the Board and are now adding the legal and securities law expertise it needs to continue to move the Company forward. I am pleased that we have been able to attract a skilled attorney, M&A and corporate governance expert such as Eugene to fill this role. Although Rolland is stepping down as a director after 5 years of dedicated service to the Board, I am thrilled that he will stay on as a consultant so we can have the ongoing benefit of his wise counsel."

The Company also announces that it has granted stock options under its incentive stock option plan to its newly appointed director. The stock options granted are to purchase up to 150,000 common shares of the Company, have an exercise price of $0.10 per common share and expire on September 2, 2016.

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 15 percent shareholding in Blacksteel Energy Inc.

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

"Walter Wakula"

_______________________________________________
Walter Wakula, Interim CEO and Chairman of the Board

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Advisory Regarding Forward Looking Statements
This news release contains no forward-looking statements.