FMG First Mexican Gold Corp

First Mexican Gold Corp. (the 'Company' or 'FMG') (TSX
VENTURE:FMG)(FRANKFURT:21M) is pleased to announce that it has completed its 80%
option earn-in on the Guadalupe property in Sonora State, Mexico, from Minera
Internacional Milenio S.A. de C.V., (MIMSA), a wholly owned subsidiary of
International Millennium Mining Corp (TSX VENTURE:IMI). The option agreement was
subject to First Mexican Gold having to spend a total of US$4 million dollars on
the project.


Immediately subsequent to the completion of the "Option Agreement" both
companies have agreed, subject to TSX Venture Exchange acceptance, to enter into
a sale of the final 20% interest in the Guadalupe property held by MIMSA. The
conditions of sale are the issuance of 4 million shares and a 2% NSR to
International Millennium Mining Corp with 1% purchasable for US$1 million
dollars. The 4 million shares will have a 9 month hold period and be subject to
reasonable future trade restrictions as outlined in the agreement to purchase.


The Guadalupe property package has been the focus of much of the exploration to
date that the company has conducted in this area and comprises approximately
11,506 hectares. To date the company has identified the Karen zone as hosting a
high grade target starting at surface and the Diana zone which hosts a lower
grade high tonnage target. See some highlights of drilling results below that
have already been disclosed in previous news releases. Both these zones will
continue to be a key focus for 2012 in addition to exploration of new zones of
high potential including the optioned land package from Kootenay Gold Inc. (TSX
VENTURE:KTN). 


"We are pleased to have acquired a 100% property interest for our shareholders
and confirmed the high grade potential of the Karen zone and lower grade/higher
tonnage potential of the Diana zone in 2011 in what is fast becoming a regional
exploration success with numerous area exploration camps now existing and doing
work," said Jim Voisin, President and Chief Executive Officer of First Mexican.
Mr. Voisin adds: "Although to date the company has defined zones with potential
to build a significant resource, most of the property area remains open to
future exploration work. The company plans numerous sampling, drilling and IP
survey data work programs for 2012 and is very pleased with these discovered
zones so early in our exploration program."


Karen zone drill highlights to date: all near surface intercepts, see news
release April 28, 2011.




--  DDH #1, 5.8 metres of 3.67 g/t Au, 753 g/t Ag 
--  DDH #2, 15.2 metres of 2.58 g/t Au, 47 g/t Ag 
--  DDH #3, 37.8 metres of 6.51 g/t Au, 678 g/t Ag 
--  RC hole #2: 2 metres of 1.48 g/t Au & 1330 g/t Ag 
--  RC hole #3: 18 metres of 6.52 g/t Au & 61 g/t Ag 
--  HDH 11-04, 15.2 metres of 1.57 g/t Au, 335 g/t Ag, 0.18% Cu 
--  HDH 11-05, 33.4 metres of 4.27 g/t Au, 395 g/t Ag, 1.24% Cu 
--  HDH 11-06, 21.6 metres of 4.90 g/t Au, 104 g/t Ag, 0.73% Cu



Diana zone drill highlights to date: all near surface intercepts, see news
release March 10, 2011.




--  HDH 11-09, 15.7 metres of .77 g/t Au, 105 g/t Ag 
--  HDH 11-10, 39.0 metres of .40 g/t Au, 135 g/t Ag 
--  HDH 11-11 49.5 metres of .42 g/t Au, 86 g/t Ag, including 13.3 metres
    of .75 g/t Au, 195 g/t Ag



Management is of the opinion that the initial results it has provided
demonstrate that the area has excellent exploration potential. Coupled with the
neighbour's results, Corex Gold, a strong regional play is starting to develop
in an already prolific gold and silver mining region that boasts successful
projects such as Gammon Gold's Ocampo, Minefinder's Dolores and Alamos Mulatos
projects.


John Archibald, PGeo, a qualified person pursuant to NI 43-101, has reviewed and
approved the technical information in this press release on behalf of the
company. Samples were prepared and assayed by an accredited lab, ALS Chemex,
Vancouver, BC. Quality control is monitored on a continual basis and utilizes a
system of standards, blanks and duplicates to ensure analytical accuracy.


First Mexican Gold Corp. is an active explorer for precious metals in Mexico and
upon completion of the sales agreement will hold 100% interest in the Guadalupe
property package. The Company now controls a total of 15,112 hectares in this
high potential exploration area.


On behalf of the Board of Directors,

Jim Voisin, President & CEO 

First Mexican Gold Corp.

We seek safe harbour.

This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the potential
mineralization and geological merits of the Guadalupe property and other future
plans, objectives or expectations of the Company are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's
plans or expectations include risks relating to the actual results of current
exploration activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory changes,
timeliness of government or regulatory approvals and other risks detailed herein
and from time to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by
applicable securities legislation.

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