First Mexican Gold Corporation - Shares for Debt

TSX-V Trading Symbol: FMG

VANCOUVER, Sept. 19, 2013 /CNW/ - First Mexican Gold Corp. (the `Company` or `FMG`) (TSX-V: FMG, Frankfurt: 21M), further to the Company's news release of September 4, 2013, the Company is pleased to announce it has received TSX Venture Exchange approval for and closed its shares for debt of 1,100,000 shares to satisfy debt in the amount of $55,000.

The shares are subject to a hold period until January 17, 2014, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

Jim Voisin, the Chief Executive Officer, President and a director of the Company, participated in the shares for debt by receiving, through his consulting company, 300,000 shares. The participation by such officer and director is considered a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the shares issued to, nor the consideration paid by, the related party exceeded 25% of the Company's market capitalization.

The Company did not file a material change report more than 21 days before the expected closing of the shares for debt as the details of the shares for debt and the participation by the related party was not settled until shortly prior to closing and the Company wished to close the shares for debt on an expedited basis for sound business reasons.

The company has signed multiple confidentiality agreements with qualified well-financed potential joint venture partners and is currently touring these interested parties on the property in an effort to select the best option to advance the Guadalupe property to the next level of resource development. In addition the company is still pursuing all other options for advancement of the property.

Some historical data

Karen zone drill highlights to date (all near-surface intercepts, see news releases dated April 28, 2011, Feb. 27, 2012, and Oct. 15, 2012) and Diana zone drill highlights to date (all near-surface intervals, see news release on March 10, 2011):

John Archibald, PGeo, a qualified person pursuant to NI 43-101, has reviewed and approved the technical information in this press release on behalf of the company.

Currently Corex Gold Corp. joint venture partner Vale SA continues to drill deep holes in an effort to confirm the underlying porphyry system, which would likely create a significant area play. This drilling program by a wholly owned subsidiary of Vale is now well advanced and it's contiguous to the FMG Gudalaupe property package. The program comprises a series of deep holes to test the porphyry copper-gold target previously discovered by drilling and geophysics.

First Mexican Gold Corp. is an active explorer for precious metals in Mexico and controls 100% interest in the Guadalupe property package. The Company now holds extensive exploration rights in this high potential exploration area that is now attracting attention from major mining companies.

On behalf of the Board of Directors,

Jim Voisin
President & CEO
First Mexican Gold Corp.
519 699 5352

Vancouver Head Office
#1000, 355 Burrard Street Vancouver, B.C. V6C 2G8 Canada
Phone: 604 681 7265
Website: www.fmgoldcorp.com

We seek safe harbour.

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

SOURCE First Mexican Gold Corp.