First Mexican Gold Corp.

NEW: now 100% interest in the Guadalupe Property in Sonora, Mexico (Jan. 2012) / Best intercept: 37.8 metres of 6.51 g/t Au, 678 g/t Ag

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Message: First Mexican Cancels Proposed $1-million Financing

Given there was only buying pressure and not selling pressure after the announcement the market beleives that there is a silver lining to this announcement. If financing was the only option then they would have completed it (maybe at a lower value). I was in discussions with Europacific about participating in the financing and there was significant interest initially. IMO this announcement would have only come if a JV/buyout or other financial arrangement was finalized this week. I suspect we wil hear about it early next week and Jim was throwing informed/interested shareholders a bone with this release at weeks end.

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