First Gold Exploration Inc.
TSX VENTURE : EFG
FRANKFURT : F12

First Gold Exploration Inc.

April 08, 2009 09:18 ET

First Gold Completes Second Closing of Private Placements for $230,000

LAVAL, QUEBEC--(Marketwire - April 8, 2009) - First Gold Exploration Inc. (the "Company" or "First Gold") (TSX VENTURE:EFG)(FRANKFURT:F12) announces the closing of non-brokered private placements for an additional amount of $230,000 for a total of $500,000 as announced in the March 13th, 2009 press release. First Gold decided to half the amount of the proposed flow-through Unit financing to $200,000 instead of the maximum of $400,000. The private placements are as follows:

- PRIVATE PLACEMENT OF COMMON SHARE UNITS.

First Gold is pleased to announce the closing of 5 common share Units at a cost of $6,000 per Unit for total gross proceeds of $30,000. Each Unit consisting of 100,000 common shares of the Corporation at a price of six cents per share and 100,000 common share purchase warrants of the Corporation. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of 36 months at a price of ten cents per share.

- PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

First Gold is pleased to announce the closing of 25 flow-through Units at a cost of $8,000 per Unit for total gross proceeds of $200,000. Each Unit consisting of 100,000 flow-through common shares of the Corporation at a price of eight cents per share and 100,000 common share purchase warrants of the Corporation. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of 36 months at a price of ten cents per share.

In connection with these private placements, a finder's fee commission of $2,400 will be paid out in cash to National Bank Financial. The flow-through common shares and the common shares are subject to a four-month hold period from closing.

The proceeds of these private placements will be used for general working capital and exploration expenses on its current projects. After these closings, First Gold will be well financed and only have 32,771,899 shares outstanding.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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