F.D.G. Mining Completes Initial Public Offering and Seeks Approval for Trading on TSXV

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2011) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

F.D.G. Mining Inc. FDG:V ("FDG" or the "Company") is pleased to announce that it has completed its initial public offering (the "IPO") and has filed for final approval to begin trading on the TSX Venture Exchange (the "Exchange") under the symbol FDG.

With Jordan Capital Markets Inc. ("Jordan") as its agent, the Company has today completed the maximum offering of 3,794,000 common shares at a price of $0.25 per share for gross proceeds of $948,500. A cash commission of 8% and agent's warrants to purchase up to 303,520 common shares of the Company at a price of $0.25 per share for a period of 24 months has been paid to Jordan. The net proceeds from the IPO will be used to fund further exploration of the Company's Topacio gold concession in Nicaragua and for general operating purposes.

Exchange approval is anticipated in the next two or three days, subject to the fulfillment of all of the requirements of the Exchange.

The Company has a cash balance of approximately $3.5 million and is well funded to carry out its proposed Phase 1 and 2 exploration programs on the Topacio concession. There are currently 43,996,971 shares issued and outstanding (47,804,091 fully diluted).

About F.D.G. Mining Inc.

Founded in 2006 and until now, F.D.G. Mining Inc. has been a private company based in Vancouver, British Columbia engaged in exploring mineral properties in Nicaragua. On April 30, 2010, the Company signed a definitive agreement with Inversiones Mineras, S.A. (IMISA) of Nicaragua, for a three year option to purchase the past-producing 9,300 hectare Topacio gold concession in the Autonomous Atlantic South region of the country. The purchase price is US$3 million with semi-annual payments of US$60,000 until the option is exercised. IMISA will retain a 3% NSR upon completion of the sale.

The Topacio concession includes a historical central vein district with up to twelve parallel gold-bearing veins with estimated production of 160,000 tonnes of ore grading 8 g/t gold and 80 g/t silver in the early 1900s mainly from the Mico, Salmeron and Lone Star structures. Further work during the rest of the past century produced various estimates of remaining resources on the property that are documented in the Company's NI 43-101 technical report dated July 10, 2010, as amended December 14, 2010 and February 3, 2011 entitled "NI 43-101 Technical Report of a Geological Evaluation for the Topacio Concession, South Atlantic Autonomous Region, Nicaragua" filed and available for viewing at www.sedar.com. 19 widely spaced drill holes were completed in the 1980s and a further 43 were drilled in 1996 by previous operators to define a resource over the Topacio and Dos Amigos veins in the southern part of the historical mining district. FDG was able to confirm an NI 43-101 compliant inferred resource of 680,000 tonnes grading 5.2 g/t gold and 34 g/t silver using 26 of the high quality drill holes drilled on the Topacio vein in 1996.

There has been very little other modern exploration on the property. FDG's initial focus will be to complete a $934,000 Phase 1 exploration program including 1,500 metres of drilling recommended in the technical report to define and extend the current NI 43-101 compliant mineral resource and to test extensions of known mineralization in the historic mining areas on the property. At the same time the Company will begin semi-regional exploration in the promising outer areas of the large epithermal mineral system for additional bulk minable gold deposits where a number of large alteration zones have been previously mapped. A $1,500,000 Phase 2 exploration program with 4,500 metres of drilling is recommended contingent on Phase 1 exploration results.

Some of the Phase 1 exploration work has already begun including the construction of an all-weather road into the property, reopening and sampling of 33 trenches over the Topacio resource and other known targets and some rock chip and soil sampling and PIMA alteration studies. Results from the first trenches and soil geochemistry are expected shortly and will be reported over the coming weeks.

For further detail, the reader is encouraged to view documents filed at www.sedar.com including the Company's prospectus dated April 14, 2011 or on the Company's website at www.fdgmining.com where information will be further updated over the next few weeks to reflect changes in the Company's status once its shares begin to trade.

On Behalf Of The Board Of Directors

Mit D. Tilkov, President and Chief Executive Officer

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The technical disclosure in this news release has been reviewed by Mit D. Tilkov, the President and Chief Executive Officer of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.