First Narrows Announces Private Placement

First Narrows Announces Private Placement

Proceeds of up to $1,000,000 to be raised

NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES

Vancouver, British Columbia CANADA, July 24, 2008 /FSC/ - First Narrows Resources Corp. (UNO - TSX Venture, FNRWF - OTCBB_Pink_Sheets), (the "Company") is pleased to announce that it is undertaking a private placement to raise up to $1,000,000 (the "Offering").

The Company will place up to 6,363,637 Common Share Units and 2,000,000 Flow-Through Units on a non-brokered basis.  Each Common Share Unit will be offered at a price of $0.11 per unit and will consist of one common share and one-half of one common share purchase warrant, with each full warrant exercisable at a price of $0.22 per common share for a period of two years following the close of the Offering.  Each Flow-Through Unit will be offered at a price of $0.15 per unit and will consist of one flow-through common share and one-half of one common share purchase warrant, with each full warrant exercisable at a price of $0.30 for a period of two years following the close of the Offering.

Proceeds arising from the sale of the Units will be used to fund the Company's ongoing exploration programs in the State of Sonora, Mexico and the Province of New Brunswick, Canada, and for general corporate purposes.

The offering is subject to TSX Venture Exchange approval.  All securities issued in connection with this offering will be subject to a four-month hold period in accordance with securities regulation.

About First Narrows Resources Corp.:

First Narrows Resources Corp. (TSX-V: UNO) is a Canadian-based mineral exploration company whose corporate strategy is to develop overlooked and undervalued mineral properties that offer near term production potential.  The Company has active projects in the Province of New Brunswick, Canada and in the State of Sonora, Mexico.  The most advanced are the Susana D'Oro Cu-Au-Ag deposit, a former high grade producer located in Sonora's Au-Ag and Cu-Mo mining belts, and the Chester Cu-polymetallic deposit in New Brunswick's Bathurst Mining Camp, Canada, both 100% owned.  For more information visit: www.uno.ca

For Corporate, Media, or Investor Communications contact:

Greg Lytle, Communications Manager
First Narrows Resources Corp.
Toll-free: (866) 285-5817
Int'l. & Vancouver: (604) 839-6946
Email: glytle@uno.ca

ON BEHALF OF THE BOARD OF DIRECTORS

"Peter K. Gummer"

Peter K. Gummer, President

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


First Narrows Resources Corp.
Suite 405 - 1228 Hamilton Street,
Vancouver, BC Canada V6B 6L2




Source: First Narrows Resources Corp. (TSX-V: UNO) (OTCBB: FNRWF) http://www.uno.ca
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