First Gold Exploration Inc.

First Gold Exploration Inc.

March 01, 2010 14:38 ET

First Gold Exploration Inc.: Options Granted to Directors, Officers and Consultants

LAVAL, QUEBEC--(Marketwire - March 1, 2010) - First Gold Exploration Inc. (TSX VENTURE:EFG) (FRANKFURT:F12) is pleased to announce the granting of 3,265,000 stock options to directors, officers and consultants of the Company. Eric Leboeuf, President and Chief Executive Officer, Robert Ayotte, Chairman of the Board of Directors and Richard R. Groome, Director, will each receive 400,000 options. Robert P. Boisjoli, Director of Finance, Nathalie Laurin, Secretary, and three directors, Alykhan A. Mamdani, Daniel B.J. Kivari and Jean-Sébastien Lavallée, will each receive 200,000 options. Each option entitles its holder to purchase one share of the Company for $0.40 for a five-year period.

Five consultants will receive a total of 1,065,000 options. Each option entitles its holder to purchase one share of the Company for $0.40. The options are valid for the shorter of the following periods: one year, or until the date at which the holder ceases to be a consultant of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

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