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First Gold Exploration Inc.: First Gold Acquires a 50% Interest in the Croinor Mining Lease and Holds its Annual Meeting

^{Published on 2009-02-04 11:51:08, Last Modified on 2009-02-04 11:51:41 - Market Wire}
 

LAVAL, QUEBEC--(Marketwire - Feb. 4, 2009) - First Gold Exploration Inc. (the "Company" or "First Gold") (TSX VENTURE:EFG)(FRANKFURT:F12) is pleased to announce that it has completed the acquisition of a 50% interest in the Croinor I project, which includes the Croinor deposit on the mining lease and adjacent claims in the Abitibi region of Quebec. The Company fulfilled the final condition of the acquisition when it issued 4,300,000 common shares last week. Despite this share issuance, First Gold has only 25,271,899 shares outstanding.

It should be noted that First Gold has spent more than $1,400,000 on the project in the past two years and had already issued 700,000 shares. This project now becomes a 50-50 joint venture with X-Ore Resources Inc. (TSX VENTURE:XOR), the company to which the shares of the Company were issued.

First Gold Exploration is also taking this opportunity to announce that, at its annual meeting held on January 27, 2009, shareholders approved all the proposals, including electing the proposed slate of directors, confirming the auditors, and increasing the stock option plan as described in the news release dated December 15, 2008.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.