VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 12, 2006) - Full Metal Minerals (TSX VENTURE:FMM) and Metallica Resources Inc. (TSX:MR)(AMEX:MRB) are pleased to announce the commencement of their 2006 field program for their Alaskan Peninsula Project Joint Venture. This year's exploration program will focus on known porphyry copper-gold-molybdenum systems and will involve geological mapping, geochemical sampling and ground-based geophysics on multiple prospects. In addition, a program of first pass reconnaissance drilling totaling a minimum of 1,000 meters will be completed at the Bee Creek porphyry target.

Metallica/Full Metal (65%/35%) have an Exploration Agreement with Option to Lease with Bristol Bay Native Corporation covering 2,266 square kilometers of prospective terrain on the Alaska Peninsula, located in Southwest Alaska on the Pacific Ocean. This region hosts multiple base and precious metal prospects that have received only limited modern exploration. All of the prospects are located within several kilometers of tidewater. Chief among the prospects to be explored this year are the Bee Creek and Kawisgag porphyries located in the Chignik and Ivanof Bay areas respectively.

At Bee Creek, the top of a multiphase dioritic porphyry stock is exposed within a coincident copper-gold-molybdenum geochemical anomaly that centers on a larger magnetic high measuring approximately two kilometers in diameter. Previous exploration includes five shallow diamond drill holes completed in 1975, with one hole encountering 0.25% Cu, 0.011% Mo and 0.062 g/t Au over its entire 152 meter length. In 2005, field reconnaissance by the Companies expanded the surface geochemical anomaly and identified several IP chargeability highs that suggest excellent potential for stronger porphyry-hosted sulfide mineralization at depth. Four to five reconnaissance holes totaling a minimum of 1,000 meters are planned to test the Bee Creek prospect.

The Kawisgag target is characterized by a 13 square kilometer area of geochemically anomalous base and precious metal sulfide mineralization centering on a partially exposed porphyry stock. The prospect is well located just east of the village of Ivanof Bay, and adjacent to tidewater. Mapping and sampling completed during 2005 identified two areas of anomalous porphyry-hosted copper, gold and molybdenum mineralization within a much broader pyritic halo, a characteristic common to large porphyry systems. Historic sampling returned values ranging from trace metal content to 0.17% copper, 6.9 g/t gold and 0.02% molybdenum. This year's program will include further mapping, sampling and ground-based geophysics to identify targets for future drill testing.

The 2006 exploration program for the Alaska Peninsula Project is being managed by William T. Ellis, CPG with Alaska Earth Sciences, an Anchorage-based Consulting Group and qualified person as defined by Canadian NI 43-101. Content of this release has been prepared by Robert McLeod, P.Geo., Vice President Exploration for Full Metal Minerals, and Mark Petersen, CPG - AIPG and Director of Exploration for Metallica Resources; both are Qualified Persons as defined by NI 43-101. Analyses are performed by ALS-Chemex Labs of Vancouver, B.C. A sample quality control/quality assurance program is in place.

The Companies have also entered into a one-year extension with The Aleut Corporation, an Alaska Regional Native Corporation to a Mineral Option and Land Use Agreement to exclusively explore their Lands in the Port Moller quadrangle of the Alaska Peninsula and Aleutian Islands. Full Metal/Metallica are in ongoing negotiations with The Aleut Corporation to enter into a long-term Exploration Agreement with Option to Enter into a Mining Lease.

Further information from the Alaska Peninsula and Aleutian Islands projects including maps and historic drilling information can be viewed on Full Metal's website at www.fullmetalminerals.com.

Metallica Resources is an emerging gold and silver producer focused on the exploration and development of precious metal rich properties throughout the Americas. It currently has 84 million shares outstanding and had US$38.8 million in cash at March 31, 2006. For further details on Metallica Resources, please visit the company's website at www.metal-res.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Williams, President and Director

Mark A. Petersen, Director of Exploration

The statements in this press release that are not historical facts contain forward looking information. These statements address future events involving known and unknown risks and uncertainties that could cause actual results to vary materially from projected results. These risks and uncertainties include those described in Metallica's Form 20-F.


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Full Metal Minerals Ltd.
Mark A. Petersen
Director of Exploration
(604) 484-7855
(604) 484-7155 (FAX)
info@fullmetalminerals.com
www.fullmetalminerals.com

or

Metallica Resources Inc.
(303) 796-0229
(303) 796-0265 (FAX)
metallica@metal-res.com
www.metal-res.com