First Mexican Gold Corp. Closes Private Placement

First Mexican Gold Corp. (TSX VENTURE:FMG) announces it has closed a
non-brokered private placement for a total of 2,950,000 units at $0.24 per unit
to raise gross proceeds of $708,000. This represents 950,000 more units than
originally announced on June 22. Each unit was comprised of one common share and
one-half of a warrant. Each full warrant entitles the holder thereof to purchase
an additional share at a price of $0.30 for two years from the date of closing,
to July 12, 2013. All of the shares, warrants and any shares issued upon
exercise of the warrants comprising the units, are subject to resale
restrictions expiring 4 months from date of issue on November 12, 2011. The
Company intends to use the proceeds from the private placement in support of its
planned drilling program in Mexico and for general corporate purposes. No
finders fees are applicable.


First Mexican Gold Corp. is an active explorer for precious metals in Mexico and
holds an option to acquire 80% interest in the Guadalupe property package from
(MIMSA) a wholly owned subsidiary of International Millennium Mining Corp. (TSX
VENTURE:IMI). 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.