First Idaho Resources Inc. Provides Corporate Update

First Idaho Resources Inc. (TSX VENTURE:FI) ("First Idaho" or the "Company") is
pleased to provide an update of recent Company developments. 


Over the past year, First Idaho has made significant progress in refocusing the
company towards our goal of evaluating and developing the historic Hercules
Silver Project in Southwestern Idaho. 


Details on Milestones:

In December 2011 Russell Marshall was appointed as President and CEO of First
Idaho Resources Inc. Upon his arrival, Mr. Marshall immediately embarked on the
task of lowering the overall risk profile of First Idaho by clearing all debts
held by the company and paying out the option agreement on the property. First
Idaho continues to have no warrants or options outstanding and has avoided
increasing its outstanding shares substantially in order to preserve shareholder
value. Mr. Marshall has fostered a goal-driven and detail-oriented culture at
First Idaho, and has brought a wealth of experience in financing, acquisitions,
strategic planning and corporate development to the company. 


Despite recent difficulties in the capital markets for financing junior mining
companies over the past year, First Idaho completed a $440,000 non-brokered
private placement in May 2012. Don Adair, the company's project manager
completed over $120,000 of preparation work on the property, which included road
work, one year of water sampling and a renovation of the company's core sample
storage facility.


In order to move forward with the evaluation and development of the Hercules
Silver project, consulting geologist Theodore W. Muraro P.Eng., a qualified
person as defined by NI 43-101 completed a revised NI-43-101 report in June 2012
in which he stated that "the Hercules silver property has the potential to
contain an economically viable resource of silver at today's price. The Hercules
adit area offers the best chance to develop this potential." Mr. Muraro also
included a $2,964,000.00 proposed work program on the Hercules, which First
Idaho is looking forward to implementing beginning April 1st. The planned work
program for 2013 consists of the following:




Phase 1                                                                     
                                                                            
Rehab existing drift or drive new drift              3 months    $600,000.00
Bulk sample                                          2 months    $400,000.00
Upgrade property access                               ongoing    $200,000.00
Metallurgy                                                       $150,000.00
                                                                            
Total                                                          $1,350,000.00
                                                                            
Phase 2                                                                     
                                                                            
Diamond drilling; H capacity with mud                                       
  8000 feet @ $140.00/foot                                     $1,120,000.00
Total Phase 1 and 2                                            $2,470,000.00
Contingencies                                             20%    $494,000.00
                                                                            
Grand Total                                                    $2,964,000.00



The phase 1 bulk sampling and metallurgy will determine the parameters for a
mining and milling operation going forward.


In November 2012, First Idaho refurbished its website
(www.FirstIdahoResources.com) and updated all social networking platforms in
order to communicate more efficiently with shareholders and the investing
community. We encourage all interested parties to visit our website for all the
latest news and developments with First Idaho and the Hercules silver project.


Finally, we wish to thank all our shareholders for the confidence you've
entrusted in the First Idaho Board and Management Team, and assure you of our
commitment to build long term shareholder value through the continued
advancement of the Hercules Silver Project.


First Idaho Resources Inc.

Russell Marshall, President and CEO

About First Idaho Resources Inc.

First Idaho Resources (TSX VENTURE:FI) is a Canadian-based silver and base
metals exploration and mine development company engaged in the evaluation and
advancement of a group of claims known as the Hercules Project. The company owns
a 50% interest in the Hercules property, located in Southwest Idaho, a
first-class mining jurisdiction home to some of the world's most prolific silver
discoveries. 308 holes have been drilled and over $6 million has been spent on
evaluating the Hercules to date. Our vision is to deliver corporate growth and
shareholder value through the further definition and development of the
Hercules, which has been looked at as a highly prospective property since the
late 1900s. First Idaho Resources Inc. is listed on the TSX Venture.


FOR FURTHER INFORMATION PLEASE CONTACT: 
First Idaho Resources Inc.
Russ Marshall
President and CEO
604-734-1628
[e-mail]
www.firstidahoresources.com