www.firstgoldexploration.com

TSX-V: EFG
Approximately 25.3 million shares outstanding
Last traded at $0.18
Market cap of approximately $4.5 million
Funds, insiders, management, and people close to the company own 90% of the shares
(February 23, 2009)

First Gold Exploration Inc. is a mineral exploration company formed in late 2006. The company intends to acquire or has acquired significant interests in mineral properties that are accessible and at least at the drill stage. At the present time the portfolio consists of three options to earn-in at least a 50% interest in projects in the Abitibi region of the province of Québec.

The first goal of the company is to put the Croinor property into production. First Gold wants to join the ranks of Alexis Minerals (TSX: AMC) and Metanor (TSX-V: MTO) as a junior gold producer, at approximately 25,000 to 30,000 ounces of production a year. First Gold has ordered a scoping study and a new resource evaluation of its flagship Croinor Project.

With gold trading above 1,200$ an ounce in Canadian dollars, the company feels that the future cashflows of the Croinor deposit will greatly benefit shareholders. This property is a past-producing mine so it doesn’t need to go through the usual development stages to start production. The plan calls for the trucking of the ore to an existing mill where the last bulk samples came in at 97% recovery.

Croinor 1 and 2 (Québec)

First Gold has concluded two joint-venture agreements with the X-Ore Resources Inc. with the objective of acquiring a 50% interest in the Croinor project located in Pershing, Vauquelin and Haig townships in the Abitibi region of Quebec. The property, located 75 km by road from Val-d’Or, covers an area of 4,518 hectares and is composed of 289 contiguous claims and a mining lease of 90 hectares.

The first joint-venture (Croinor 1) includes the Croinor deposit which is located on the Mining Lease and adjacent claims. A 43-101 report prepared in November 2005 by Carl Pelletier, M. Sc. P. Geo from the firm Innovexplo Inc. of Val-d’Or, Quebec — a copy of which is available in the First Gold profile on www.sedar.com — confirms the following resource estimate:

These resources are within 200 meters of surface. First Gold acquired a 50% interest by issuing common shares and by completing exploration work as per the earn-in agreement. These conditions were satisfied by January 31, 2009. The project is now a Joint Venture between First Gold and X-Ore (50%/50%).

Matchi-Manitou

The property consists of 29 mining claims covering 1,291.91 hectares and is located on the boundary between Pershing and Louvicourt townships. It is easily accessible via a main forestry road and then older forestry roads that are in good condition. The company can earn a 50% working interest in the Matchi-Manitou property located in Eastern Abitibi roughly 30 km to the northeast of the village of Louvicourt in Quebec by spending $200,000 in exploration by November 2009.

A surface sampling program has in the past confirmed the presence of strong anomalies in copper, zinc and silver. This program was followed by soil geophysics exploration — magnetometric and InfiniTem surveys to better delineate drill targets. First Gold has just completed a detailed compilation of its predecessor’s work. The property is at the drill stage but First Gold called for an exploration campaign to increase the potential strike of the anomaly and it is anticipated that this work will begin in early 2009.

Éric Leboeuf
President & CEO
Founder and President of the Investor Relations firm Relations Publiques Paradox inc. since 2001. From 1999 to 2001, Mr. Leboeuf was a stockbroker at Nesbitt Burns. He was Director at Bank of Montreal responsible of loans and investments in mutual funds from 1996 to the end of 1998.

Denis Simoneau
Chairman of the Board
Chairman of the Board of Volta Resources inc. (previously Birim Goldfields Inc.) since 2006. He was previously Chief Executive Officer of the Company from 1995 to 2006. Mr. Simoneau worked for Falconbridge from 1970 to 1978 and for Soquem from 1978 until 1995. He holds a bachelor's degree in geology from St-Francois Xavier University in Nova Scotia.

Patrick Bradley
Director
Extensive experience amounting to more than 35 years in the mining sector. He has been Vice-President, Corporate Development for McWatters Mining Inc. and from 1996 to 2004 he also acted as Vice-President for Maude Lake Exploration Ltd. From 1993 to 1995, Mr. Bradley was employed by the brokerage firm Lévesque Beaubien Geoffrion (today National Bank Financial) as a mining analyst and thereafter as an advisor. Since March, 2004 he has been President of Société d’exploration minière Vior Inc., a mining exploration company listed on the TSX Venture Exchange and, since 2005, Chairman of the Board of Matamec Explorations Inc.

Robert P. Boisjoli
Chief Financial Officer
Chief financial officer of Xanthus Pharmaceuticals Inc., a biopharmaceutical company focused on the discovery, development, acquisition and commercialization of small-molecule therapeutics for the treatment of cancer and autoimmune disorders. He has over 25 years of experience in the financial sector.

Pierre Forget
Director
General supervisor of Les Viandes Jacques Forget Ltée, a family business, since 1998. He was a member of the Canadian ski team from 1993 until 1998 and won a World Cup in 1994.

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