VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

First Pursuit Ventures Ltd. (the "Company") (TSX VENTURE:FPV) is pleased to announce it has signed a binding Letter of Intent for the acquisition of the "LA QUINTERA" claim group covering an area of 5,000 hectares (12,355 acres) located 15 km west of Alamos, Sonora, Mexico. The claim area is known as "Minas Nuevas-La Aduana" and hosts many of the past producing silver and gold mines of this mining district. Some of the mines included in the claim block are: Promontorio, La Quintera, La Cocinera, Las Europas, Las Palomas, Mina El Rapel, a portion of the Santo Domingo Mine and La Panchita Mine.

In the Letter of Intent First Pursuit Ventures will acquire a one hundred (100%) per cent interest in the Property by making the following payments in cash and shares at the following times:

TIME	CASH PAYMENT	SHARES
On signing the letter of Intent On approval of TSX-Venture Exchange	US$5,000.00 US$20,000.00	50,0000 shares
12 Month Anniversary	US$50,000.00	50,0000 shares
24 Month Anniversary	US$75,000.00	100,0000 shares
36 Month Anniversary	US$100,000.00	100,0000 shares
48 Month Anniversary	US$100,000.00	100,0000 shares
60 Month Anniversary	US$150,000.00	100,0000 shares
72 Month Anniversary	US$500,000.00	500,0000 shares
TOTAL	US$1,000,000.00	1,000,0000 shares

In addition to the $1,000,000.00 and 1,000,000 shares the vendors shall retain a 3% NSR on the Property subject to the right of First Pursuit Ventures to purchase 1% of the NSR (namely a 1% NSR) for $1,000,000.00 for five (5) years after signing this contract. An area of mutual interest of 5 kilometres is included in this agreement.

Mining in the Alamos Mining District dates to the 1700's when veins of gold and silver were discovered by Spanish Jesuits and worked almost continuously until the Mexican Revolution (1910-1920) made foreign investment to develop Mexican mines virtually impossible. The most important producing mine from this era was the Promontorio Mine.

Although the mines of this district were mined almost continuously for 200 years, there have been only sporadic attempts to process the various dumps in the area with mining limited to crude hand-mining methods. This will be the first time in the last two centuries that the ownership of the mines of this district will be consolidated into one contiguous block.

A finder's fee is payable for this transaction.

ON BEHALF OF FIRST PURSUIT VENTURES LTD.

"Terry Fields"

Terry Fields
President and Director

This news release was prepared by management who takes full responsibility for its contents.

This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements". These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the La Tuna Project. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.

United States residents are cautioned that some of the information that may be published by First Pursuit may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.