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2015-10-14

First Mexican Gold Corp: First Mexican Signs US$8.0 Million JV Agreement on Its Guadalupe Property, Mexico

VANCOUVER, British Columbia, Oct. 13, 2015 (GLOBE NEWSWIRE) -- First Mexican
Gold Corp. (the 'Company' or 'FMG') (TSX-V:FMG) (Frankfurt:21M) is pleased to
announce, further to its September 22, 2015 press release, it has executed a
definitive agreement with Link Natural Resources FZC (LNR), a private entity
in the United Arab Emirates (Dubai) to form a 50/50 Joint-Venture (JV) in
order to further advance the Guadalupe project. LNR will acquire a 50%
working interest in exchange for a scheduled investment within the first year
totaling $8.0 million (all funds US) in accordance with the following:

* US $5.0 million in scheduled payments within the first year to provide the
necessary funding to permit and advance work on the Karen zone.
* US $1.0 million towards concurrent exploration work: primarily resource
definition at the Diana zone gold&silver discovery; along with testing at
depth on both the Linda and Erica zones.
* Cost recovery consideration payable to First Mexican in the amount of US
$2.0 million.
* The partners will create a joint venture company ("Newco") in order to
complete the 50/50 JV, with First Mexican designated as 'Operator'.

"We are delighted to have secured a supportive partner to advance the Karen
zone and further explore the additional potential indicated by previous drill
results within the Guadalupe property. This deal underscores the importance
and relief that private equity is bringing to good projects in the junior
sector as with the individual investors whom have supported us to this point.
Creation of shareholder value is a priority and First Mexican is now much
better capitalized than many other junior companies. Personally, I look
forward to being extremely busy advancing the Karen zone over the next year
and plan to dedicate considerable time on site advancing our understanding of
the potential based on the numerous drill results received to date," remarked
Jim Voisin, President&CEO.

''We are excited to be entering in to this agreement with First Mexican Gold
and delighted to be a part of advancing work on the Guadalupe property. This
project offers us the opportunity to JV participate in the development of
what we believe is a very promising property which has demonstrated good
drill results to date with some very good high grade intercepts. In our
investments, Link Resources looks for an experienced management team in place
that is determined to advance undervalued projects. The more we looked at the
JV the better it became and was essentially a quick decision once we had
completed the Due Diligence formalities. We are looking forward to working
with our new partners, Jim and his team,'' remarked Sam McKay, President and
Founder of Link Natural Resources FZC.

John Archibald, PGeo, a qualified person pursuant to National Instrument
43-101, has reviewed and approved the technical information in this press
release on behalf of the company.

First Mexican's Guadalupe property is located in the same geographic region of
Mexico as numerous producing mines in the Sierra Madre Occidental, including:
the Mulatos mine of Alamos Gold Inc., Dolores mine of Pan American Silver
Corp and Ocampo mine of Minera Frisco SAB de CV. The property is also
contiguous to Corex Gold Corp's Santana property currently undergoing
production feasibility in partnership with H. Morgan&Company and Chester
Millar as lead advisor.

Link Natural Resources FZC is a privately funded emerging resource
investment&development group focused on targeting and advancing strategic
mineral, oil&gas and other natural resource assets on a global basis.

First Mexican Gold Corp is an active explorer for precious metals in Mexico
and controls a 100% interest in the Guadalupe property package with the
intention of becoming a gold and silver producer.

On behalf of the Board of Directors,

Jim Voisin
President&CEO
First Mexican Gold Corp
519 699 5352
drift@golden.net

Vancouver Head Office
#1000, 355 Burrard Street Vancouver, B.C. V6C 2G8 Canada
Phone: 604 681 7265
Website:www.fmgoldcorp.com

We seek safe harbour.

This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the potential
mineralization and geological merits of the Guadalupe property and other
future plans, objectives or expectations of the Company are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's plans or expectations include risks relating to
the actual results of current exploration activities, fluctuating gold
prices, possibility of equipment breakdowns and delays, exploration cost
overruns, availability of capital and financing, general economic, market or
business conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time to time in
the filings made by the Company with securities regulators. The Company
expressly disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise except as otherwise required by applicable securities
legislation.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: First Mexican Gold Corp via Globenewswire

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