Firstgold Corp.
OTC Bulletin Board : FGOC

Firstgold Corp.

March 24, 2009 18:00 ET

Firstgold Corp. Appoints Ed Baer to its Board of Directors

CAMERON PARK, CALIFORNIA--(Marketwire - March 24, 2009) - Firstgold Corp. (TSX:FGD)(OTCBB:FGOC), ("the Company") is pleased to announce the appointment of Mr. Eduardo (Ed) Baer to its Board of Directors.

Mr. Baer brings over 22 years of professional experience to the Company, encompassing business development, strategic planning, senior level corporate finance, investor relations, and management expertise with a focus in the natural resource sector.

Mr. Baer is former President and CEO of European Goldfields Ltd., an AIM London Stock Exchange and TSX listed mineral exploration company; in this capacity he completed the turn-around of that company by securing more than C$67 million in equity financing, purchasing an interest in a world class mining asset, and leading efforts that more than doubled that company's institutional shareholder base. Mr. Baer also served as Precious Metals Analyst for Toronto based Octagon Capital.

Mr. Baer recently published a comprehensive report on the Company. After review and subsequent dissemination of his Company report, management felt strongly that Baer could add a great deal of industry expertise to the Board and assist management in furthering the Company's endeavors.

"We are delighted to have Ed join the Company as a Director," says Steve Akerfeldt Chairman & CEO of the Company. "Ed's industry experience and capital market presence speak for themselves and we are confident his addition will enhance the Company's position in our business endeavors, the capital markets and generate ongoing shareholder value."

Prior to European Goldfields, Mr. Baer served in a senior corporate finance and investor relations capacity to TSX listed Greystar Resources Ltd., whose principal exploration asset is Colombian based, and held senior executive positions in a similar capacity with TSX and NYSE listed TVX Gold Inc., a North and South American gold producer. Mr. Baer held executive directorships at both European Goldfields and TVX Gold.

"I am very excited about joining Firstgold and assisting the Board in directing the planned corporate development activities of the Company. I look forward to building a significant portfolio of assets with Steve, company founder Scott Dockter and the Firstgold team driven primarily by our Nevada based, gold producing Relief Canyon Mine," adds Ed Baer.

Over the last 24 months Firstgold has spent $16 million developing a processing facility at Relief Canyon, located outside Lovelock Nevada, on the site of the previously producing Pegasus Gold Mine. Firstgold currently leases over 10,000 acres of prime exploration property in Nevada. Additional information about Firstgold Corp. can be found by visiting its web site at

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 that 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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