Firstgold Corp.
OTC Bulletin Board : FGOC

Firstgold Corp.

July 15, 2008 08:00 ET

Firstgold Opens up Commercial Assay Laboratory as it Continues to Develop Relief Canyon Exploration Project

CAMERON PARK, CALIFORNIA--(Marketwire - July 15, 2008) - Firstgold Corp (TSX:FGD)(OTCBB:FGOC) is pleased to announce the opening of its full service metals and mineral assay laboratory in Lovelock Nevada. The laboratory will process samples from Firstgold's Relief Canyon project, other Firstgold exploration properties, and provide excess capacity to outside mining and exploration companies.

CEO Steve Akerfeldt stated, "We like many other junior exploration firms have faced high costs and long delays in getting assays back on our exploration drilling programs. It can literally take months and cost $25 plus per assay. These delays affect critical decisions and compound drilling costs. With opening of our own facilities we expect our costs to fall by greater than 50%. In addition we have excess capacity that we will offer to local firms experiencing the same issues we formerly faced. In fact pre launch we already have three firms wanting us to conduct assays for them and expect our excess capacity should be taken up very quickly given current market conditions".

At its peak, Firstgold believes that their laboratory should be able to process 2,200 fire assays and 250 geochemical analyses per day. CEO Steve Akerfeldt stated, "Based on the unreasonably long wait times on processing samples, we feel the laboratories in Reno and Sparks are ultimately operating at capacity. We believe that there is a statewide need for faster turnaround and more focused customer service. That is what we intend to provide at Firstgold Corp. Laboratories.

Firstgold currently leases over 35,000 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

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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