SOURCE: Firstgold, Inc.

July 09, 2007 13:45 ET

Firstgold Corp. Expands Property Portfolio

Stakes Additional 4,200 Acres in Northern Nevada

CAMERON PARK, CA--(Marketwire - July 9, 2007) - Firstgold Corp. (OTCBB: FGOC) announced today that it has completed staking claims on roughly 4,200 acres of potentially mineralized ground in the Horse Creek area, located approximately 100 miles northeast of Reno, NV. Early samples obtained by Firstgold Corp. include high grade gold values of .264 and .319 oz/ton, and low grade gold values ranging from .029 to .068 oz/ton scattered throughout the area.

Company CEO Scott Dockter explained the signifigance of this project saying, "Since 1999 there have been efforts to define and refine the classification of intrusion-related gold systems, mostly from work done in Alaska and Yukon Territory, and other similar geologic settings around the world. To my knowledge, the model has not been applied to any mining camps or districts in Nevada. In this respect, the efforts at Horse Creek could be groundbreaking. Examples of sheeted vein systems include Alaska's Fort Knox, Dublin Gulch, and Donlin Creek projects. These projects have indications of high grades within the veins, but that sampling vein and host rock together across 5-foot intervals show typical grades in the .023 to .058 oz/ton range."

During the course of the property evaluation, rock chip samples were collected from a number of the exposures throughout the area. The rocks exposed consist of a variety of intrusive units, ranging in composition from granite to granodiorite and diorite. Mineralization is currently exposed in quartz-oxide veins and associated alteration envelopes. Vein envelopes display locally intense argillic, sericitic and propyllitic alteration. Strongly argillized breccias and shear zones are also present in some locations. Stockwork quartz and oxide veining is found associated with some of the veins. Several of the prospective zones are recessively weathered and covered by alluvium and/or colluvium.

Details regarding the exact nature of the alteration and veining will be worked out during the upcoming property-wide mapping campaign. There does appear to be a preferred, roughly E-W orientation to the majority of the vein exposures, some of which may have nearly 2 miles of strike length and perhaps as much as 800 feet of vertical extent. Later stage dikes may also play a role in localizing mineralization. These factors will be further defined as the project progresses.

The next phase of this project will be to conduct extensive mapping of the areas bedrock geology. Additionally, Firstgold Corp. is planning to conduct an airborne geophysical survey to map the magnetic character of the rocks. Geochemical exploration efforts will continue with more rock chip sampling, as well as an in-depth soil sampling survey.

"Firstgold has a very full exploration plate with both our primary focus on Relief Canyon and our expanding exploration at Antelope Peak... but when a potentially world-class prospect comes along like this... you have to be prepared to act," commented Dockter.

Firstgold currently leases over 40,000 acres of prime exploration property in Nevada. Its principal project is Relief Canyon. The Relief Canyon mine recently had its Plan of Operation reinstated in the state of Nevada and the company is conducting extensive drilling and development analysis on the project. Relief Canyon is located outside Lovelock, Nevada on the site of the previously producing Pegasus Gold Mine. 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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