Best Drill Results to Date, New Listing and Project Updates
PRESS RELEASE
BEST DRILL RESULTS TO DATE, NEW LISTING AND PROJECT UPDATES
SEPTEMBER 15, 2010 – LAVAL, QUEBEC – First Gold Exploration Inc. (TSX.V: EFG) (US OTCQX: FGEXF) (FSE: F12) is pleased to report the most recent drill results for the Lac Pivert/Rose project. The table below shows the results for holes LR-10-69 to LR-10-90, drilled to test the extension of the zones to the east. All the holes intersected mineralized zones over consistent thicknesses, and indicated that width and grade are increasing.
The drilling program is ongoing, with Hole LR-10-126 presently underway. Drilling continues to intersect the mineralized zones with sustained thickness.
A map showing the location of the holes is posted under Pivert/Rose Lithium Project in the Projects section of the Company’s website, at www.firstgoldexploration.com.
THE BEST RESULTS OBTAINED TO DATE ARE AS FOLLOWS:
| FROM | TO | TRUE WIDTH | Li20 | Rb | Ta2O5 | Be | Cs | Ga | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HOLE | ||||||||||||||||||
| # | (m) | (m) | (m) | (%) | ppm (g/t) | ppm (g/t) | ppm (g/t) | ppm (g/t) | ppm (g/t) | |||||||||
| LR‐10‐69 89.15 109.20 20.05 1.31 2649 180 113 109 72 | ||||||||||||||||||
| LR‐10‐70 | 91.50 | 97.00 | 6.50 | 0.91 | 3899 | 232 | 121 | 135 | 73 | |||||||||
| LR‐10‐71 48.35 62.45 14.15 1.64 2182 137 124 72 75 | ||||||||||||||||||
| LR‐10‐72 | 37.95 | 53.20 | 15.25 | 1.34 | 2547 | 150 | 72 | 97 | 69 | |||||||||
| LR‐10‐73 39.70 45.80 6.10 0.15 1726 125 127 73 62 | ||||||||||||||||||
| LR‐10‐74 | 20.85 | 29.00 | 8.15 | 0.37 | 4358 | 119 | 143 | 166 | 57 | |||||||||
| LR‐10‐75 52.45 73.90 21.45 1.22 2983 206 139 117 78 | ||||||||||||||||||
| LR‐10‐76 | 11.15 | 18.70 | 7.55 | 1.35 | 2833 | 197 | 148 | 143 | 79 | |||||||||
| LR‐10‐77 34.70 39.00 4.30 1.75 1903 208 118 80 86 | ||||||||||||||||||
| LR‐10‐78 | 49.20 | 61.70 | 12.50 | 1.30 | 1882 | 112 | 141 | 80 | 76 | |||||||||
| LR‐10‐79 59.8 75.65 15.85 1.50 2283 188 143 77 73 | ||||||||||||||||||
| LR‐10‐80 | 66.75 | 85.5 | 18.05 | 1.27 | 3877 | 189 | 175 | 120 | 75 | |||||||||
| LR‐10‐81 87.65 102.8 15.15 0.76 2346 176 117 106 67 | ||||||||||||||||||
| LR‐10‐82 | 82.9 | 99.25 | 16.35 | 1.12 | 2462 | 189 | 147 | 93 | 74 | |||||||||
| LR‐10‐83 100.75 120.45 19.70 1.15 2966 175 138 163 77 | ||||||||||||||||||
| LR‐10‐84 | 111.75 | 126.05 | 14.30 | 1.38 | 3171 | 181 | 141 | 115 | 72 |
| HOLE | FROM | TO | TRUE WIDTH | Li20 | Rb | Ta2O5 | Be | Cs | Ga | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # | (m) | (m) | (m) | (%) | ppm (g/t) | ppm (g/t) | ppm (g/t) | ppm (g/t) | ppm (g/t) | |||||||||
| LR‐10‐85 114.50 130.60 16.10 1.45 2918 149 137 98 67 | ||||||||||||||||||
| LR‐10‐86 | 118.45 | 135.25 | 16.80 | 1.49 | 1657 | 145 | 101 | 68 | 61 | |||||||||
| LR‐10‐87 81.45 96.10 14.65 1.48 2286 157 104 84 68 | ||||||||||||||||||
| LR‐10‐88 | 74.20 | 92.30 | 18.10 | 1.57 | 2614 | 183 | 129 | 91 | 77 | |||||||||
| LR‐10‐89 77.70 93.85 16.15 1.70 2909 204 131 95 69 | ||||||||||||||||||
| LR‐10‐90 | 75.55 | 93.55 | 18.00 | 1.72 | 2555 | 161 | 110 | 97 | 73 |
- 1 ppm = 1 g/t
All the samples were sent for analysis in sealed containers to the Chemex laboratory in Val-d’Or by employees of the Company. Chemex is the laboratory used for analysis of all samples from programs on the Lac Pivert/Rose property. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70% minus 2 mm, then separation and pulverized to 85% passing 75 μm. All samples are analyzed using ICP-MS, with full analysis for 47 elements.
STOCK LISTING UPDATE
First Gold is pleased to report that it is now listed on the OTCQX in the US under the stock symbol FGEXF. Consequently, the Company is now able to solicit US firms and send information to the US investor base.
PROJECT UPDATE – LAC PIVERT/ROSE RARE METAL PROPERTY
First Gold is drilling the project based on an open pit model. Unlike most spodumine-bearing dykes in the area, those on the Lac Pivert/Rose project lie parallel to surface, starting at 0 meters and dipping very slightly but steadily downward towards the north and the east.
InnovExplo was retained two months ago to complete a 43-101 property report and a resource estimate for the structures (mineralized zones).
Once it has received these reports, the first of which is due in September 2010 and the second in November 2010, the Company will order a pre-feasibility study and drill to expand this area of interest. It should be noted there are roads and power lines within a 1 km radius of the site.
New showings have been discovered 500 metres and up to 2.5 kilometres away from current project location. Sample grades of up to 4.6% Li2O have been received from the lab for these showings. First Gold will mobilize a drill within the next month to determine the potential of these new showings, test the Pivert showing and to try to build resources on other sectors of the property.
PROJECT UPDATE - SAN JAVIER SILVER PROPERTY
First Gold is preparing a sampling program to begin in November 2010 to determine the location of the drilling campaign.
Results of random surface sampling at San Javier in 2009 yielded high silver values: 12,905 g/t or 376,4 oz/ton silver, 2,439 g/t or 71,2 oz/ton silver, 2,356 g/t or 68,7 oz/ton silver and 816 g/t or 23,8 oz/ton silver. In addition to the unusually high-grade silver and gold mineralization, the veins are also rich in base metals: copper, lead, zinc, tin and iron ore.
A recently-completed positive 43-101 report for the property confirmed that the project has strong exploration potential. Given the recent strength of silver prices, San Javier could grow to be another important asset for the Company.
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.
For more information, contact:
Eric Leboeuf President and Chief Executive Officer 450-744-0792 [email protected] www.firstgoldexploration.com
Jean-Sébastien Lavallée, P.Geo Director and geologist 819-354-5146 [email protected] www.firstgoldexploration.com
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accepts responsibility for the adequacy or accuracy of this release.