FMG First Mexican Gold Corp

First Mexican Gold Corp. (TSX VENTURE: FMG) (the "Company" or "First Mexican" or "FMG"), announces that the Company has granted to its directors, officers, employees and consultants 2,200,000 stock options to purchase common shares at a price of $0.40 per share for 5 years. The stock option price was set at a premium to the Company's transaction price for its recently completed qualifying transaction for which the Final Exchange Bulletin was issued on December 31, 2010.

On Behalf of the Board of Directors

FIRST MEXICAN GOLD CORP.

Jim Voisin, President & CEO

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contacts: First Mexican Gold Corp. Robert Findlay +1 604 641 4457 or Toll Free +1 866 669 9377 +1 604 669 9335 (FAX)