First Mexican Gold Corp. Reports Sampling Results from Bailey Zone

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Feb. 16, 2011) - First Mexican Gold Corp. (TSX VENTURE: FMG) has received assay results from the recently completed rock chip sampling survey on the Bailey zone of the Guadalupe property package in Sonora, Mexico, which is contiguous to Corex Gold Corp. (TSX VENTURE: CGE) Santana Property where consistently good exploration results have been demonstrated.

The gold/silver/copper bearing Bailey zone has now had a total of 40 samples recently collected and assayed. Three of these samples were taken directly from a small ore dump at the entrance to an adit with the balance, 37 samples, taken over 55.5 metres along the rock wall face on either side of this adit. The sampled rock face has been exposed to the elements for some 20 years. This sampling was done to further build the data base on this high potential target in preparation for future drilling. All samples reported herein are compliant and the rock face samples were taken every 1.5 metres.


Samples Highlights

- sample #479120 returned 13.75 g/t gold, 262 g/t silver, .25% copper
- sample #479119 returned 7.69 g/t gold, 110 g/t silver, .16% copper
- sample #479158 returned 2.84 g/t gold, 2700 g/t silver, .29% copper
- sample #479134 returned 3.88 g/t gold, 425 g/t silver, 2.54% copper


Table of Key Sample Results

  	SAMPLE 	AU 	AG 	CU 	BI 	SB 	PB
ZONE 	NUMBER 	(G/T) 	(G/T) 	(%) 	PPM 	PPM 	PPM
BAILEY 	  	  	  	  	  	  	 
ORE DUMP 	479157 	2.74 	166 	.25 	3610 	1770 	 
  	479158 	2.84 	2700 	.29 	358 	4750 	 
  	479159 	0.07 	8.8 	3.78 	9 	38 	 
ROCK FACE 	  	  	  	  	  	  	 
  	479109 	0.115 	7.5 	.17 	5 	216 	513
  	479110 	0.148 	7.7 	.29 	5 	581 	342
  	479111 	0.438 	6.5 	.17 	29 	792 	584
  	479112 	  	  	.10 	  	  	270
  	479113 	  	  	.30 	  	  	340
  	479114 	  	  	.62 	  	  	258
  	479115 	  	  	.69 	  	  	276
  	479118 	0.57 	22.3 	.96 	19 	579 	304
  	479119 	7.69 	110 	.16 	352 	2080 	767
  	479120 	13.75 	262 	.25 	1715 	4250 	8110
  	479121 	2.07 	60.1 	.11 	246 	2550 	504
  	479122 	0.198 	14.1 	.06 	14 	313 	308
  	479123 	0.238 	10.4 	.11 	54 	238 	672
  	479124 	0.097 	9.2 	.08 	17 	128 	846
  	479128 	0.134 	18.6 	  	7 	252 	425
  	479129 	3.2 	99 	  	333 	2880 	3650
  	479130 	2.51 	50.6 	  	129 	2430 	1725
  	479131 	1.085 	22.4 	  	78 	1335 	845
  	479133 	2.15 	34.5 	  	702 	5750 	18200
  	479134 	3.88 	425 	2.54 	916 	>10000 	23100
  	479138 	0.105 	2.7 	.015 	3 	28 	1785
  	479139 	0.447 	11.1 	.12 	63 	218 	1450
  	479140 	0.477 	4.5 	.097 	31 	219 	1135

"It's unfortunate that the Bailey zone was not drilled as was planned in the just completed drill program but the additional sampling completed confirms the Companies view that this is a high priority drilling prospect," said Jim Voisin, President and Chief Executive Officer of First Mexican.

SJ Geophysics Ltd. of Delta, B.C., is currently on-site continuing with the extensive 3D IP survey totaling 45 kilometres of lines which includes the survey being extended towards the Bailey zone. This 3D IP program is designed to enhance the drill targeting over multiple identified target rich areas and provide follow-up data to assist in the next phase of drilling within our continually expanding property package.

John Archibald, PGeo, of Billiken Management Services Inc., a qualified person pursuant to NI 43-101, has reviewed and approved the technical information in this press release on behalf of the company. Samples were prepared and assayed by an accredited lab, ALS Chemex, Vancouver, BC. Quality control is monitored on a continual basis and utilizes a system of standards, blanks and duplicates to ensure analytical accuracy.

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 11,506 hectares in this high potential precious metals exploration area.


On behalf of the Board of Directors,

Jim Voisin, President & CEO
First Mexican Gold Corp.



We seek safe harbour.

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the Guadalupe property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.



Contact Information

First Mexican Gold Corp.
Jim Voisin, President & CEO
519-699-5352
www.fmgoldcorp.com