FEBRUARY 4, 2011 – LAVAL, QUEBEC – First Gold Exploration Inc. (TSX.V: EFG) (FSE: F12) (US OTCQX: FGEXF) (“First Gold”) and Blue Note Mining Inc. (TSX.V: BNT) (“Blue Note”) are pleased to announce that a drill rig has been mobilized at the Croinor gold project located near Val-d´Or, Quebec to begin the first phase of a planned 20,600 meter drill campaign aimed at increasing the mineral resources laterally and at depth.
The first phase of drilling will comprise 7,700 meters. Drill targets include step-out testing of gold mineralization identified in previous drilling within and further east of the planned development. Last summer´s seven hole drill program intersected significant gold grades and widths located in close proximity to planned development, clearly demonstrating the potential to expand the reserves. Values returned from the seven holes included 11.81 g/t Au over 7.5 meters, 10.50 g/t Au over 6.7 meters, 29.3 g/t Au over 5.7 meters with values as high as 78.15 g/t Au over 1 meter (see news releases of October 18 and November 11, 2010).
Other targets to be followed-up from the previous campaign includes those identified by the Hole-to-hole 3D induced polarization (IP) survey east of the mine area, and testing of the host diorite sill to the west of the reserve area where an IP target was identified at the margin of the survey and beyond the limit of previous drilling.
InnovExplo Inc. has been contracted to assist with the program planning, field supervision, core logging and sampling and data compilation and analysis. Forages La Virole has been awarded a contract to complete a minimum of 7,700 meters of drilling expandable to 20,600 meters as the program develops.John Martin, P. Eng., President and Chief Operating Officer of Blue Note Mining Inc., is a Qualified Person as defined under NI 43-101 guidelines and has reviewed the technical information contained in this press release.
About First Gold Exploration
The goal of the Company is to create shareholder value by acquiring promising projects that could be advanced to production stage in a short period of time. This has been achieved with its interest in the Croinor gold project, and the currently in progress Rare Metal Pivert/Rose property, among other promising projects including the Rare Earth, Rocky Mountain, British Columbia, properties.
About Blue Note Mining Inc.
Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with properties located in known gold regions of Canada, including the prolific Val-d´Or region of Quebec and northern New Brunswick.
Forward-looking statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company´s products, technical uncertainties associated with operating an underground mine and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
First Gold shareholders, please contact:
Jean-Sébastien Lavallée, P.Geo
Interim President and CEO
819-354-5146
www.firstgoldexploration.com
Blue Note shareholders, please contact:
Jean Mayer
Executive Vice President
1-800-937-3095, poste 236
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www.bluenotemining.ca