First Gold Exploration Inc.

First Gold Exploration Inc.

October 15, 2010 10:53 ET

First Gold Files Its Positive 43-101NI Report on Pivert/Rose Property

LAVAL, QUEBEC--(Marketwire - Oct. 15, 2010) - First Gold Exploration Inc. (TSX VENTURE:EFG) (FRANKFURT:F12) is pleased to announce that it received the final version of the Pivert/Rose 43-101NI report prepared by InnovExplo. The report will be available on Sedar today.

Highlights Of the 43-101 Property report

InnovExplo, independent consulting firm conclusions:

  • The character of the Pivert/Rose property is of sufficient merit to justify additional exploration works

  • Consistent results over a very broad area;

  • Possibility of increasing the size of the current structures with more drilling;

  • Possibility of developing and finding other targets on the property;

  • The work that began in November 2009 is very well done and the results are accurate;

  • InnovExplo recommend conducting a pre-feasibility study in order to determine the potential economic viability of the Mineral Resources. The Mineral Resources Estimate is due in November 2010.

43-101 author, Pierre-Luc Richard, P.Geo of InnovExplo, report comments:

The Rose showing is clearly an advanced stage exploration project hosting significant mineralization in lithium and rare-elements.

Out of 65 drill holes, 62 reported significant mineralization in either Li, Ta, Rb, Cs, Ga, Be or, in most of the case, in more than one of these elements.

"The grades versus sample lengths show a very homogeneous distribution for every elements considered (Li, Rb, Cs, Be, Ta, Ga) and no bias is seen due to small sampling interval".

InnovExplo's preliminary data compilation and review of historical reports concerning the Pivert/Rose property revealed significant potential for the discovery of new lithium and rare-elements pegmatites over the entire property. The property is strategically positioned in an area which is known to be associated with such mineralization. The Rose showing is at an advance stage exploration, but considering the size of the mostly unexplored Pivert/Rose property, InnovExplo consider the property to be at an early-stage of exploration and to potential to discover other mineralization remains high.

First Gold exploration works and drilling program conducted since 2009 has added numerous significant drill holes intercepts allowing a better geological interpretation of the Rose showing and confirming the potential of the entire area for new discoveries.

The fact that the pegmatite dykes found at Rose are shallow and sub-parallel to the surface is a significant advantage for this project and should be taking into account when evaluating its further economical potential. 

Although the Rose showing is currently the most advanced area of the property in term of exploration, three other identified showings on Block A (Pivert, JR and Hydro) seem very promising and should be investigated more by either trenching or drilling as they show similarities to the Rose showing in term of mineralogy, grades and thickness (according to surface observations). Surface observations also show that these three showings favorably dip gently sub-parallel to the surface as it is the case for Rose.

Jean-Sebastien Lavallee (OGQ #773), a geologist, shareholder and director of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

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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