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First Mexican Gold Corp. Completes Consolidation

Newsfile Corp.

Toronto, Ontario--(Newsfile Corp. - September 20, 2019) - First Mexican Gold Corp. (TSXV: FMG) ("First Mexican" or the "Company") is pleased to announce that, further to its press release of August 27, 2019, the Company has completed the consolidation of its common shares ("Common Shares") on a ten (10) for one (1) basis (the "Consolidation"). The Consolidation reduced the number of outstanding Common Shares from 81,844,360 to 8,184,436. This transaction was approved by the directors of the Company on August 19, 2019 (the "Consolidation Resolution").

The shareholdings of less than 100 Common Shares were eliminated through consolidating the Common Shares on a 10 for 1 basis effective September 18, 2019. No fractional Common Shares were issued pursuant to the Consolidation and any fractional shares that would have otherwise been issued have been rounded down to the nearest whole number. The change in the number of issued and outstanding Common Shares that that result from the Consolidation will not materially affect any shareholder's percentage ownership in First Mexican, although such ownership would be represented by a smaller number of Common Shares.

For further information please contact:

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

Cautionary Statement on Forward -Looking Information

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

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, uncertainty over the outcome of any litigious matters, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47990