First Mexican Gold Corp. Arranges $300,000 Financing

First Mexican Gold Corp. (the 'Company' or 'FMG') (TSX VENTURE:FMG)(FRANKFURT:21M) -

First Mexican Gold Corp., on a best efforts basis, is arranging a non-brokered
private placement of up to $300,000 through the sale of one million units at 10
cents per unit. Each unit consists of one common share and one-half of one
non-transferable share purchase warrant, with each whole warrant being
exercisable at a price of 12 cents per share, for a period of two years. The
financing is subject to regulatory approval.


Proceeds from the private placement is planned to finance a down hole induced
polarization program on the high grade Karen Zone (9.7 metres of 3,105 grams per
tonne silver equivalent comprised of 6.33 g/t gold, 1,853 g/t silver and 12.62%
copper. See news release Feb 22, 2012) and further investigate the occurrence of
a potential parallel zone on the Diana outcrop area. The Diana zone remains open
on both strike and depth and drill stations have been prepared to start the
drill investigation of resource tonnage on this target. For qualified investors
who are interested in participating, please contact Jim Voisin at 519-699-5352
or [e-mail].


First Mexican Gold Corp. is an active explorer for precious metals in Mexico and
has now completed the acquisition of 100% interest in the Guadalupe property
package. The Company now controls a total of 15,112 hectares in this high
potential exploration area.


On behalf of the Board of Directors,

Jim Voisin, President & CEO

First Mexican Gold Corp.

We seek safe harbour.

This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the potential
mineralization and geological merits of the Guadalupe property and other future
plans, objectives or expectations of the Company are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's
plans or expectations include risks relating to the actual results of current
exploration activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory changes,
timeliness of government or regulatory approvals and other risks detailed herein
and from time to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by
applicable securities legislation.