At the moment FAN is 54 cents a share. Today Farallon announces .......

High grade zinc and precious metals continue to be discovered

5 m of 36% zinc, 2.9% copper & 13 m of 20 grams of gold/tonne in the North zone Stratigraphic integrity of G-9 Abajo horizon model further confirmed

December 16, 2009, Vancouver, BC Dick Whittington, President and CEO of Farallon Mining Ltd. (TSX: FAN) ("Farallon" or the "Company"), is pleased to provide an update of the recently restarted surface exploration drilling program on the G-9 deposit at the Campo Morado polymetallic (zinc, copper, silver, gold, lead) project in Guerrero State, Mexico. Results of several underground exploration drill holes are also included.

Three rigs are currently deployed - two surface drills and one underground drill - with two main objectives: to increase the resources around G-9 and to test for extensions of the G-9 Abajo zone to the north while, at the same time, testing for continuity of the stratigraphic horizon that hosts the Abajo zone to the north and northeast under the El Largo and Naranjo deposits.

The new results which include surface holes to hole 796 and selected "step out" holes drilled from underground, are listed in the attached Table of Assay Results. Hole locations are shown on the attached G-9 Drill Hole Location Map. As well, two cross sections are attached, one that highlights the newly discovered extension of the North zone to the southeast of hole 522 (Section A) and, a general section (Section B) through the various deposits at Campo Morado, showing the spatial relationship between the Abajo stratigraphic horizon and the stratigraphic horizon that hosts the El Largo and Naranjo deposits. The Abajo horizon is wide open in several directions indicating the excellent exploration potential to the north of the main G-9 deposits…

To view this news release in its entirety, please click on the link below or copy and past it into your web browser.

or contact Neil MacRae, Investor Relations Manager, at (604) 638-2160 or within North America at 1-877-688-2050.