VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/18/12 -- First Mexican Gold Corp. (TSXV: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. (TSXV: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.

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.