SOURCE: Firstgold Corp.

March 28, 2007 19:37 ET

Firstgold Announces $10 Million Financing

CAMERON PARK, CA -- (MARKET WIRE) -- March 28, 2007 -- Firstgold Corp. (OTCBB: FGOC) today announced that it has engaged Canadian securities firms D&D Securities Company and Kingsmill Capital Partners Inc. to act as agents for a private placement of up to $10,000,000. The net proceeds of the offering will be used to finance activities at Firstgold Corp.'s Relief Canyon Mine project, to further exploration activities at its properties and for general corporate purposes.

"This is a very positive announcement for our company. We had a number of excellent meetings with Canadian institutional investors and are encouraged by the response we have received. Canada is a global leader in mining finance and this will be a big breakthrough for our company. With this capital we will have the financing in place to get our Relief Canyon project into production and to commence drilling on the 40,000 acres of our exploration properties in Nevada," commented Scott Dockter, Firstgold Corp. CEO.

Completion of the financing is subject to certain conditions, closing may occur in one or more tranches with the first tranche expected to close within 30 days.

Additional information about Firstgold Corp. can be found by visiting its web site at www.firstgoldcorp.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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