First Mexican Gold Corp. Closes Private Placement

First Mexican Gold Corp. (TSX VENTURE:FMG) - 

Further to the Company's news releases dated November 28, 2011 and January 6,
2012 announcing a private placement of 2,866,666 units, the Company is pleased
to announce it has received TSX Venture Exchange approval for and closed the
private placement of 2,866,666 units, at a price of $0.12 per unit each with
half a warrant at $0.15 excisable for two years, to raise proceeds of $344,000.


All of the shares, warrants and any shares issued upon exercise of the warrants
comprising the units are subject to a hold period and may not be traded in
Canada until May 18, 2012, except as permitted by applicable Canadian securities
laws and the TSX Venture Exchange.


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.