SOURCE: Firstgold Corp.

November 09, 2007 16:00 ET

Firstgold Releases Initial Drill Results

CAMERON PARK, CA--(Marketwire - November 9, 2007) - Firstgold Corp. (OTCBB: FGOC) announces the initial results of its current Relief Canyon drilling program. Of the 120 holes currently permitted, 58 reverse circulation drill holes, totaling 13,095 feet, have been completed. Fire assays have been returned from ALS-Chemex for the first 34 of these holes. The program is designed to evaluate three specific exploration target areas, and includes plans to assess gold content on the existing heaps. A complete overview of Firstgold Corp.'s planned exploration activities can be found at (http://www.firstgoldcorp.com/Presentations/PCRC_Overview_07_11_09.pdf)

Firstgold Corp. is currently focusing its drilling and exploration activities in the existing pits. This drill program includes several drill holes that are 100-500 feet in length and is designed to identify gold grades, grade widths, and alteration types between the preexisting drill holes. These drill results are being added to the historic drill hole database to help Firstgold Corp. develop a mining plan and for the Relief Canyon Gold Mine Project. From 1986 to 1989, more than 220,000 ounces of gold were taken out of the open pits on the Relief Canyon property by a previous operator. The mining operations then ceased because of the falling price of gold.

Highlights of the current round of drilling include drill hole RCM06, in which we see significant correlation between historic data and current data. RCM06 intercepted 105 feet of mineralization with an average grade of 0.025 tr oz/st of gold. The nearest older hole, LRC-019, also had a total of 105 feet with an average grade of 0.022 tr oz/st of gold. In many instances, there is reasonable correlation between the grades of historic data and current data.

Using the a 0.010 ounce per ton cut off, a minimum 10 feet thick interval, and allowing a maximum of 5 feet of internal dilution, the results for the first 34 reverse circulation drill holes from ALS-Chemex FA and AAS assays follows:

              Grade   Interval                       Interval
                (tr     (in                  Grade     (in
Drill Hole ID oz/st)   Feet)   From     To   (g/mt)  Meters)  From     To
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-01        0.026       30     10     40   0.891     9.08   3.03  12.11
                0.025       10    105    115   0.840     3.03  31.79  34.82
                0.053       10    350    360   1.800     3.03 105.98 109.01
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-02        0.063       25      0     25   2.160     7.57   0.00   7.57
                0.022       10    135    145   0.737     3.03  40.88  43.91
                0.030       35    185    220   1.042    10.60  56.02  66.62
                0.033       40    230    270   1.142    12.11  69.64  81.76
                0.012       10    320    330   0.394     3.03  96.90  99.92
                0.046       25    410    435   1.591     7.57 124.15 131.72
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-03        0.022       20      0     20   0.761     6.06   0.00   6.06
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-04        0.019       10      0     10   0.651     3.03   0.00   3.03
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-05        0.038       15      0     15   1.293     4.54   0.00   4.54
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-06        0.025      105    100    205   0.857    31.79  30.28  62.07
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-07        0.027       40    190    230   0.909    12.11  57.53  69.64
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-08        0.015       80      0     80   0.528    24.22   0.00  24.22
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-09        0.025       15      0     15   0.867     4.54   0.00   4.54
                0.013       10     25     35   0.446     3.03   7.57  10.60
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-10        0.019       25      0     25   0.638     7.57   0.00   7.57
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-11        0.014       20      0     20   0.487     6.06   0.00   6.06
 (220, -45)     0.010       10     45     55   0.343     3.03  13.63  16.65
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-12        0.025       15      0     15   0.867     4.54   0.00   4.54
                0.013       10     30     40   0.446     3.03   9.08  12.11
                0.022       20     65     85   0.754     6.06  19.68  25.74
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-13        0.015       35      0     35   0.525    10.60   0.00  10.60
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-14        0.020       25      0     25   0.686     7.57   0.00   7.57
                0.011       10     75     85   0.377     3.03  22.71  25.74
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-15
 (14, -60)      0.022       20      0     20   0.737     6.06   0.00   6.06
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-16
 (220, -60)     0.016       10     10     20   0.549     3.03   3.03   6.06
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-18        0.015       50      0     50   0.521    15.14   0.00  15.14
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-19        0.018       20      0     20   0.600     6.06   0.00   6.06
                0.011       10     55     65   0.360     3.03  16.65  19.68
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-20        0.020       25      0     25   0.672     7.57   0.00   7.57
                0.017       20     35     55   0.590     6.06  10.60  16.65
                0.032       10    100    110   1.097     3.03  30.28  33.31
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-21        0.025       60      0     60   0.871    18.17   0.00  18.17
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-23        0.011       10     60     70   0.377     3.03  18.17  21.20
                0.020       80    105    185   0.693    24.22  31.79  56.02
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-25        0.012       20     70     90   0.418     6.06  21.20  27.25
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-26        0.015       30      0     30   0.525     9.08   0.00   9.08
                0.024       25     45     70   0.816     7.57  13.63  21.20
                0.012       10    120    130   0.394     3.03  36.34  39.36
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-27        0.017       75      0     75   0.593    22.71   0.00  22.71
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-28        0.023       55      5     60   0.795    16.65   1.51  18.17
 (220, -45)     0.028       10     95    105   0.970     3.03  28.77  31.79
                0.028       20    120    140   0.953     6.06  36.34  42.39
                0.017       10    220    230   0.593     3.03  66.62  69.64
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-29        0.014       10      5     15   0.470     3.03   1.51   4.54
                0.012       10     25     35   0.415     3.03   7.57  10.60
                0.014       50     70    120   0.494    15.14  21.20  36.34
                0.058       10    190    200   1.995     3.03  57.53  60.56
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-30        0.016       20     60     80   0.549     6.06  18.17  24.22
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-31        0.020       10      5     15   0.669     3.03   1.51   4.54
              ------- -------- ------ ------ ------- -------- ------ ------
RCM07-34           65    0.032      0     65   19.68    1.083      0  19.68
                   10     0.02    120    130    3.03    0.672  36.34  39.36
                   20    0.036    220    245    6.06    1.217  66.62  74.19
                   50    0.048    385    435   15.14    1.646 116.58 131.72
                   20    0.018    475    495    6.06    0.617 143.83 149.89
              ------- -------- ------ ------ ------- -------- ------ ------

Abbreviations tr oz/st = troy ounces per short ton, and
g/mt = grams per metric tonne.
FA = Fire Assay
AAS = Atomic Absorption Sectroscopy.

The attached map, figure 1 (http://www.firstgoldcorp.com/Presentations/PCRC_Overview_07_11_09.pdf), shows the locations of the current and historic drill holes within the pit area.

Firstgold currently leases over 30,000 acres of prime exploration property in Nevada, including 965 acres at its principal project, Relief Canyon. The Relief Canyon Gold Mine Project recently had its Plan of Operation reinstated in the state of Nevada and the company is conducting extensive drilling and development analysis on the project. Relief Canyon is located outside Lovelock, Nevada on the site of the previously producing Pegasus Gold Mine. Additional information about Firstgold Corp. can be found by visiting its web site at www.firstgoldcorp.com.

I, Michael R. Cartwright am a Professional Geologist in Nevada and certify that I am a qualified person, as defined in NI 43-101. I was engaged by the company to verify the technical information in this document. As part of my engagement I had full access to the independent drill assay reports, went to the site and verified a sample of drill locations, reviewed chain of custody of the samples and reviewed the companies QA and QC protocols. I do hereby consent to the filing of the written disclosure of the technical report titled, A Brief Overview of Relief Canyon Exploration dated 9 November 2007 (the "Technical Report") and any extracts from or a summary of the Technical Report in the Press Release dated 9 November 2007 of Firstgold Corp. I also certify that I have read the written disclosure being filed and I do not have any reason to believe that there are any misrepresentations in the information derived from the Technical Report or that the written disclosure in the Press Release dated 9 November 2007 of Firstgold Corp. contains any misrepresentation of the information contained in the Technical Report.

Dated this 9 November 2007.

Michael R. Cartwright
Principal Consultant
michael@minval.com

Safe Harbor Statement

The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended that involve risks and uncertainties. Although Firstgold Corp. believes that the expectations reflected in such forward-looking statements are reasonable; the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Firstgold Corp. cautions investors that any forward-looking statements made by Firstgold Corp. are not guarantees of future performance and those actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those reflected in forward-looking statements include, but are not limited to, risks and uncertainties regarding the actual mineralization of Firstgold Corp.'s mining properties, the unproven nature of and potential changes to Firstgold Corp.'s business model, the risk that the capital and other resources that Firstgold Corp will need to exploit its business model will not be available, and the risks discussed in Firstgold Corp's Form 10-KSB and in Firstgold Corp.'s 10-QSBs and in Firstgold Corp.'s other filings with the Securities and Exchange Commission.

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