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* Grab samples are selective by nature and are unlikely to represent average grades on the property.

These positive results confirm the magnitude of this new structure and indicate the property's strong potential for the discovery of additional showings. The next drill holes will be planned to test the eastern extension of the Rose showing, as well as its possible relationship to the new zone (Southeast Rose).

The Lac Pivert/Rose property lies less than 5 km from the Eastmain 1 power house. There is substantial infrastructure already in place. An access road leads to within 0.5 km of the three discoveries (Rose and Southeast Rose showings and a new showing (see press release dated December 21, 2009)) and a power line crosses the property within 1 km of the showings.

A map showing the locations of the new samples as well as the holes drilled to date can be found on First Gold's website.

"As President and a major shareholder of First Gold, I feel very proud, lucky and grateful to have such an opportunity to bring all our projects to fruition," said Eric Leboeuf, President of First Gold. "We have achieved a lot in the last year, but I think the best is yet to come."

"To recap, so far our team keeps hitting home runs, and I congratulate them for their great due-diligence and analysis. Our call on the Croinor Gold project was a good one; the engineers are currently working on bringing it to the production stage, which could produced up to 80,000 ounces of gold at a cash cost of $422 US an ounces at today's exchange rate (see press release May 26th 2009; mineral resources that are not mineral reserves do not have demonstrated economic viability). Now, this rare metals discovery of magnitude on Pivert/Rose gives First Gold another chance to send one out of the park."

"Also, I can't wait to attack our Mexican silver and base metal property in the coming months, as that property was chosen as carefully as the others. In French, we have the expression, jamais deux sans trois - literally, never two without three; let's see if it holds here," Mr. Leboeuf concluded.

First Gold has approximately $4.4 million in cash, no debt and 75,211,624 shares outstanding.

Jean-Sebastien Lavallee (OGQ #773), a geologist, shareholder and director of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.