Mr. Jim Voisin reports

FIRST MEXICAN SHARES FOR DEBT

First Mexican Gold Corp., further to the company's news release of Sept. 4, 2013, has received TSX Venture Exchange approval for and closed its shares for debt of 1.1 million shares to satisfy debt in the amount of $55,000.

The shares are subject to a hold period until Jan. 17, 2014, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

Jim Voisin, the chief executive officer, president and a director of the company, participated in the shares for debt by receiving, through his consulting company, 300,000 shares. The participation by such officer and director is considered a related-party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the shares issued to, nor the consideration paid by, the related party exceeded 25 per cent of the company's market capitalization.

The company did not file a material change report more than 21 days before the expected closing of the shares for debt, as the details of the shares for debt and the participation by the related party were not settled until shortly prior to closing, and the company wished to close the shares for debt on an expedited basis for sound business reasons.

The company has signed multiple confidentiality agreements with qualified well-financed potential joint venture partners and is currently touring these interested parties on the property in an effort to select the best option to advance the Guadalupe property to the next level of resource development. In addition, the company is still pursuing all other options for advancement of the property.

Some historical data

Karen zone drill highlights to date (all near-surface intercepts, see news releases dated April 28, 2011, Feb. 27, 2012, and Oct. 15, 2012) and Diana zone drill highlights to date (all near-surface intervals, see news release on March 10, 2011) are shown in the table.

                   DRILL RESULTS

Drill hole  Length     Au     Ag    Cu    AgEq
                (m)  (g/t)  (g/t)   (%)   (g/t) 
                                              
HDH 09-01      5.8   3.67    753
HDH 09-02     15.2   2.58     47
HDH 09-03     39.2   6.06    669  0.94   1,046
RC hole 2      2.0   1.48  1,330
RC hole 3       18   6.52     61
HDH 11-04     15.2   1.57    336  0.18
plus         22.35   0.35    200  1.21
HDH 11-05    33.46   4.27    395  1.24     706
HDH 11-06    21.60   4.90    104  0.73
HDH 11-27     9.70   6.22  1,853 12.62   3,105
HDH 11-28     1.50   0.56   20.4  0.20    63.5
HDH 11-29    12.20   1.86     70  0.14   173.6
plus         51.85   0.16   6.15  0.52
HDH 11-30    24.40   0.34   25.8  0.42      74
including     1.50   4.44    380  1.64   724.7
HDH 12-32     7.65   3.64                187.2
HDH 12-33     10.9   2.70    152  0.20   290.6
HDH 11-09    15.70   0.77    105         143.7
plus          0.70   2.58     12  0.12
HDH 11-10     39.0   0.40    135         154.9
HDH 11-11    49.50   0.42     86           107
including    13.30   0.75    195         232.7

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.

Currently Corex Gold Corp.'s joint venture partner, Vale SA, continues to drill deep holes in an effort to confirm the underlying porphyry system, which would likely create a significant area play. This drilling program by a wholly owned subsidiary of Vale is now well advanced, and it is contiguous to the FMG Gudalaupe property package. The program comprises a series of deep holes to test the porphyry copper-gold target previously discovered by drilling and geophysics.