Fireswirl Reports 2009 First Quarter Results

May 26, 2009 - Vancouver, British Columbia - Fireswirl Technologies Inc. (TSXV:FSW).

"the Company", is pleased to announce its audited annual financial results for the twelve months ended December 31, 2008. All figures are quoted in Canadian dollars. Financial statements and accompanying MD&A are available on SEDAR.

Highlights for the first quarter were as follows:

* Total revenue increased to $107,874 for the three months ended March 31, 2009 compared to $6,119 during the same period in 2008, representing an increase of 1,663%. The increase was mainly due to the sales revenue generated by the handset trading business in China.

* Total operating expenses decreased to $271,284 for the three months ended March 31, 2009 from $631,176 during the same period in 2008, representing a decrease of 57%. The decrease in total operating expenses is mainly attributable to the expense reduction efforts made in 2008 and relocation of the core business over to China.

* The Company reported net losses of $257,126 for the three months ended March 31, 2009 compared to net losses of $559,743 during the same period in 2008, representing a decrease in loss of 54%.

* The Company had no long term debt, $1,595,940 in cash and short term investments and working capital (defined as current assets less current liabilities) of $1,997,245 as at March 31, 2009 compared to $2,226,544 of cash and short term investments and working capital of $2,202,225 as at December 31, 2008.

About Fireswirl

Fireswirl Technologies Inc. (TSXV: FSW) has been a developer of gaming and entertainment software since 1999. The Company's technology has broad applications for solutions requiring multiple payment interfaces, multi-currency and multi-language capabilities for either internet or wireless applications. With offices in Canada and China, the company is active in sales of mobile handsets and providing value added services for the telecommunications industry.

Further information can be found on the company at: www.fireswirl.com or contact:

Ji Yoon, Interim CFO
T: 604.540-8805
F: 604.677-6613
E: jyoon@fireswirl.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. This news release contains certain forward-looking statements that reflect the current views and/or expectations of Fireswirl Technologies Inc. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, general demand, competition and our ability to implement our business plans and strategies in a timely manner or at all. These risks, as well as others, could cause actual results and events to vary significantly. Fireswirl Technologies Inc. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.