First Gold Intercepts 9.07 g/t Au Over 6.0 m at Croinor
Fri Nov 21, 8:25 AMLAVAL, QUEBEC--(Marketwire - Nov. 21, 2008) - First Gold Exploration Inc. (the "Corporation") (TSX VENTURE: EFG.V) (FRANKFURT:F12) is pleased to announce that the latest drill program on the Croinor property under option from X-Ore Resources Inc. (see press release dated May 1st, 2007), located east of the town of Val d'Or, Abitibi, Quebec, has allowed to extend the mineralization both laterally and vertically.
The Corporation completed 4,505 meters of diamond drilling on the Croinor 1 project in 2008 (host of the Croinor gold deposit). The total meterage for 2007 and 2008 adds up to 12,914 meters. The best drill results (see below) were obtained on and around the known deposit.
Hole number Interval (m) Grade Au / Length
CR08-348 138 to 142 4.36 g/t over 3.0 meters
198 to 202 4.67 g/t over 4.0 meters
221 to 223 3.80 g/t over 2.0 meters
CR08-349 255 to 260 4.74 g/t over 5.0 meters
CR08-351 262 to 263 1.76 g/t over 1.0 meter
CR08-352 162 to 164 2.31 g/t over 2.0 meters
CR08-353 154 to 157 3.20 g/t over 3.0 meters
170 to 171 2.21 g/t over 1.0 meter
191 to 192 2.54 g/t over 1.0 meter
CR08-354 155 to 156 4.25 g/t over 1.0 meter
159 to 162 2.65 g/t over 3.0 meters
166 to 169 4.99 g/t over 3.0 meters
170 to 172 5.33 g/t over 2.0 meters
190 to 192 14.26 g/t over 2.0 meters
209 to 210 (visible Au) 13.57 g/t over 1.0 meter
CR08-356 151.3 to 154 1.83 g/t over 2.7 meters
CR08-357 176 to 181 2.30 g/t over 5.0 meters
CR08-358 185 to 187 2.90 g/t over 2.0 meters
CR08-359 107 to 108 6.22 g/t over 1.0 meter
CR08-360 218 to 219.5 8.13 g/t over 1.5 meters
251 to 253 5.41 g/t over 2.0 meters
CR08-361 182 to 186 1.35 g/t over 4.0 meters
CR08-362 179.5 to 181 8.51 g/t over 1.5 meters
CR08-363 72 to 78 9.07 g/t over 6.0 meters
Preliminary indications are that the true widths of the mineralized intervals are roughly equivalent to 66% of core lengths. Assays have not been cut. The 2005 independent NI43-101 report on the Croinor deposit (Sedar, May 14, 2007) indicated that the bulk of the tonnage had been defined from surface down to the 150 meter level (approximately a 200,000 oz Au - resource estimate for all categories). Drilling by First Gold Exploration extended the mineralization down to the 300 meter level. More importantly, this work defined a particularly extensive and continuous vein system between levels 100 and 300 meters. Zone 5, which was defined as having a down dip extension of only 86 meters in the 2005 NI43-101 report, has now been traced down dip for more than 200 meters and laterally for 400 meters to become one of the most important vein system at Croinor. This is a very positive development for the Corporation since the mineralization at Croinor was known to be somehow erratic and discontinuous. Zone 5 demonstrates clearly that mineralized shear-vein structures at Croinor can offer good continuity and grade. In fact, recent drilling is indicating that the Croinor mineralized system can be divided into three main "en echelon" shear zones, separated by approximately 50 meters vertically. The deepest shear hosts the Zone 5 vein between the 150 and 300 meters levels. In addition, during the summer of 2008, the Corporation completed 3,825 meters of drilling on the Croinor 2 project which surrounds the Croinor 1 mining lease. The 2008 drilling campaign on Croinor 2 only reported sub-economic results. As projected the Corporation has commissioned a scoping study from Golder Associes Ltee of Val d'Or as well as the preparation for a new NI43-101 resource calculation (Pierre O'Dowd, P. Geo). "2008 has been a great year for First Gold Exploration as we have accomplished all our objectives and kept our engagements. We are looking forward to the economic valuation of this project by Golder Associes Ltee", comments Eric Leboeuf, President of First Gold Exploration. All the samples were analyzed by Laboratoire Techni-Lab located in Ste-Germaine-Boule, Quebec using atomic absorption of 30 grams pulp samples and fire assay with gravity finish. First Gold has implemented a QAQC program which includes the use of standards, blanks and duplicate samples. Mr. Pierre O'Dowd, a Qualified Person under NI 43-101 has revised and approved the technical content of this release. Mr. O'Dowd also supervises the field work be executed on these projects. Furthermore, First Gold wishes to announce that it has extended for 1 year its option on the Matchi-Manitou base metals project. Consideration for this extension consists in the issuance of 50,000 shares of First Gold to Normabec Mining Resources Ltd and increasing the work commitment to $200,000 to earn a 50% interest in the project. In September 2008, the Board of Directors decided not to proceed with the option on the Cottonwood Property located in Nevada and not to exercise its option on the Watish project in Quebec. For more information about First Gold Exploration: Agoracom IR Hub Home for First Gold: http://www.agoracom.com/ir/FirstGoldExploration Profile for First Gold: http://www.agoracom.com/ir/FirstGoldExploration/profile Broker Fact Sheet: http://www.agoracom.com/company/broker_fact_sheet/563067/Microsoft_PowerPoint_-_EFG-BFS-April24-08.pdf A map of Croinor Project is available at the following address: http://media3.marketwire.com/docs/Croinor_eng.pdf The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.ContactsEric Leboeuf First Gold Exploration Inc.
President and Chief Executive Officer
514-234-6488
president@firstgoldexploration.com
www.firstgoldexploration.com
