VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2012) - First Mexican Gold Corp. (the 'Company' or 'FMG') (TSX VENTURE:FMG)(FRANKFURT:21M) -

First Mexican Gold Corp., on a best efforts basis, is arranging a non-brokered private placement of up to $300,000 through the sale of one million units at 10 cents per unit. Each unit consists of one common share and one-half of one non-transferable share purchase warrant, with each whole warrant being exercisable at a price of 12 cents per share, for a period of two years. The financing is subject to regulatory approval.

Proceeds from the private placement is planned to finance a down hole induced polarization program on the high grade Karen Zone (9.7 metres of 3,105 grams per tonne silver equivalent comprised of 6.33 g/t gold, 1,853 g/t silver and 12.62% copper. See news release Feb 22, 2012) and further investigate the occurrence of a potential parallel zone on the Diana outcrop area. The Diana zone remains open on both strike and depth and drill stations have been prepared to start the drill investigation of resource tonnage on this target. For qualified investors who are interested in participating, please contact Jim Voisin at 519-699-5352 or drift@golden.net.

First Mexican Gold Corp. is an active explorer for precious metals in Mexico and has now completed the acquisition of 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.