First Metals Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net revenue of CAD 4,325, earnings before income taxes of CAD 474, 812 against net revenue of CAD 6,516,537, earnings before income taxes of CAD 7,148,398 for the same period last year. For the nine months, the company reported net revenue of CAD 2,057,598, earnings before income taxes of CAD 7,579,142 against net revenue of CAD 29,994,008, earnings before income taxes of CAD 2,750,444 for the same period last year.

First Metals Inc. appointed Messrs Michael Churchill and James Ross to it's board. Mr. Churchill is a merchant banker with interests in hedge fund, industrial, retail, resource, and biotech companies. He currently serves as a director of a public exploration company and several private corporations. Mr. Ross is currently the principal of Dalriada Capital Corp. He is also the Vice President, Finance of a renewable energy company focused on the production of bio-fuels from wood waste biomass, using a patented 'Biomass to Liquids' process.

First Metals Inc. reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss and comprehensive loss of CAD 680,503 or CAD 0.02 per diluted share compared to net earnings and comprehensive earnings of CAD 3,515,579 or CAD 0.08 per diluted share on the net revenue of CAD 18,889,200 for the same period a year ago. Loss before income taxes was CAD 680,503 compared with income before income taxes of CAD 2,572,948 for the same period a year ago. Cash flow from operating activities was CAD 1,476,453 compared with CAD 3,545,003 for the same period a year ago. For the six months, the company reported net loss and comprehensive loss of CAD 7,104,330 or CAD 0.17 per diluted share on the revenue of CAD 2,370,668 compared to net earnings and comprehensive earnings of CAD 5,290,411 or CAD 0.13 per diluted share on the revenue of CAD 26,557,020 for the same period a year ago. Loss before income taxes was CAD 7,104,330 compared with income before income taxes of CAD 4,397,954 for the same period a year ago. Cash used in operating activities was CAD 174,741 compared to cash flow from operating activities of CAD 3,498,795 for the same period a year ago.