Farallon Mining Ltd. - News Releases - Farallon Provides Operations Update - Fri May 3...

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G-9 Operating at over 1,900 tpd in March
New Daily Throughput Record of over 2,400 tpd Achieved

March 31, 2010, Vancouver, BC - Dick Whittington, President and CEO of Farallon Mining
Ltd. ("Farallon" or the "Company") (TSX:FAN) is pleased to announce that the G-9 operations
have continued to increase throughput rates during the first quarter of 2010 and are now
operating consistently at over 1,900 tonnes per day ("tpd"). Metallurgical recovery has continued
to improve over the same period with zinc recovery of 84% and copper recovery of 68% in the
month of March to-date1.

Period Throughput % of Zinc Copper Zinc Copper

(tpd) Design Recovery Recovery Conc Conc
(1,500 Grade % Grade %
tpd) Zn Cu
Q1 2009 1,190 79% 79% 45% 52% 18%
Q2 2009 1,260 84% 77% 55% 52% 14%
Q3 2009 1,275 85% 79% 46% 49% 17%
Q4 2009 1,552 103% 80% 56% 49% 15%
Q1 20101 1,672 111% 82% 60% 49% 14%
Including 49% 13%
1,910 127% 84% 68%
Mar/10

Additionally on March 25th, the mill throughput achieved was 2,527 wet metric tonnes (2,402
dry metric tonnes), 68% over the design capacity of 1,500 tonnes per day and a new single-day
record for the Company. Based on these results, the Company is re-evaluating the scope of the
mill expansion project previously announced on November 16, 2010. The $5.3 million that has
been committed to the project may be re-deployed to achieve greater capacity than the 2,000 tpd
originally contemplated.

Farallon's President and CEO, Dick Whittington, stated "It is extremely gratifying to see the G-9
operations running well above nameplate capacity only one year after announcing commercial
production. It is also encouraging that metallurgical recovery is continuing to improve, despite
the high throughput rates. Achieving operational excellence is a key component of our ongoing
growth strategy and it appears we are well on the way to doing so".

Farallon's G-9 zinc, copper, silver, gold and lead mine at the Campo Morado Property in Mexico
reached commercial production in April 2009. The Company is targeting to produce at an
annualized production rate of 120 million pounds of zinc and 15 million pounds of copper per
year. For further details on Farallon Mining Ltd., please visit the Company's website at
www.farallonmining.com or contact Neil MacRae, Investor Relations Manager, at (604) 638-
2160 or within North America at 1-877-688-2050.

___________________
1 First quarter
2010 includes daily operations data for the month of March up to and including
March 29, 2010. Results are subject to adjustment upon completion of the final metallurgical
balance which will be announced in conjunction with the financial results for the first quarter.

ON BEHALF OF THE BOARD OF DIRECTORS

J.R.H. (Dick) Whittington
President & CEO

No regulatory authority has approved or disapproved the information contained in this news

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Farallon Mining Ltd. - News Releases - Farallon Provides Operations Update - Fri May 3... Page 2 of 2

release

Forward Looking Information

This release includes certain statements that may be deemed "forward-looking statements." All statements in this
release, other than statements of historical facts, that address future production, reserve or resource potential,
continuity of mineralization, exploration drilling, operational activities, production rates, costs to completion and
events or developments that the Company expects, or is targeting, are forward-looking statements. Although the
Company believes that the expectations expressed in such forward looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments may
differ materially from those in the forward looking statements and may require achievement of a number of
operational, technical, economic, financial and legal objectives. The likelihood of continued future mining at
Campo Morado is subject to a large number of risks, including obtaining lower than expected grades and quantities
of mineralization and resources, lower than expected mill recovery rates and mining rates, changes in and the effect
of government policies with respect to mineral exploration and exploitation, the possibility of local disputes
including blockades of the company's property, the possibility of adverse developments in the financial markets
generally, fluctuations in the prices of zinc, gold, silver, copper and lead, obtaining additional mining and
construction permits, preparation of all necessary engineering for ongoing underground and processing facilities as
well as receipt of additional financing to fund mine construction, development and operation, if needed. Such
funding may not be available to the Company on acceptable terms or on any terms at all. For more information on
the Company and the risk factors inherent in its business, investors should review the Company's Annual
Information Form at www.sedar.com.

Information Concerning Estimates of Measured, Indicated and Inferred Resources

This news release uses the terms "measured resources", "indicated resources" and "inferred resources". Farallon
advises investors that although these terms are recognized and required by Canadian regulations (under National
Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission
does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these
categories will ever be converted into reserves. In addition, "inferred resources" have a great amount of uncertainty
as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred
Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral
Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary
Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource
exists, or is economically or legally mineable.

You can view the Next News Releases item: Wed Apr 21, 2010, Farallon Announces New Gold
Zones At G-9

You can view the Previous News Releases item: Tue Mar 30, 2010, Farallon Announces Fourth
Quarter And 2009 Financial Results

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