VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2011) - First Mexican Gold Corp. (News - Market indicators) is pleased to announce its private placement announced June 22, 2011 of 2,000,000 units has been over-subscribed and the Company has increased the private placement to 2,950,000 units which were priced at $0.24 per unit with a half warrant exercisable for two years at $0.30 per full warrant for total proceeds of $708,000. The Company intends to use the proceeds from the private placement in support of its planned and continuing drilling program in Mexico and for general corporate purposes. No finders fees are applicable.

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 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.