Firstgold Corp. Announces That It Has Received All Permits Necessary to Begin Production

Firstgold Corp. (TSX: FGD) (OTCBB: FGOC) announced today that it has received its Reclamation Permit from the Nevada Department of Environmental Protection, which completes its permitting process to fully revise the Plan of Operations and begin production at the Relief Canyon Mine. The permit is contingent on the company increasing its reclamation bond to $2.8 million bond with the BLM. The company has deposited the required amount and is awaiting the BLM’s adjudication of the bond which it expects to receive by the end of this month. Upon completion of the bonding process, Firstgold will draw down on the second tranche of its recent financing for an additional net amount of $3.89 million (US).

This permit is the final step of a permitting process that has taken nearly 3 years to complete. This allows the company to begin construction of the new heap leach pad and completes the permitting for processing of ore at the Relief Canyon Mine. Construction of the new heap leach pad is scheduled to commence the week of September 1, 2008, and scheduled for completion by the week of October 15, 2008, at which time the company will begin stacking ore for processing. Firstgold plans to produce its first gold product between November 1 and November 15. Firstgold is optimistic that there will be no delays due to the adjudication of Firstgold’s bond or weather related delays, although either could cause an adjustment to this schedule.

Steve Akerfeldt, Firstgold’s CEO, stated, “I am thrilled to have reached this stage. Our team has been working diligently to accomplish this goal, and we are pleased to finally move to the next phase.”

Additionally, the company has recently received its Water Pollution Control Permit and Air Quality Permit, which allow for the construction and operation of the ADR Process Plant and crushing facility. Firstgold anticipates the completion of the process plant at the end of August, with the completion of the crushers shortly to follow.

Firstgold currently leases over 35,000 acres of prime exploration property in Nevada. Its principal project is Relief Canyon. The Relief Canyon mine has completed its permitting for production in the state of Nevada and the company is working to bring the mine into full operation by this fall. Relief Canyon is located outside Lovelock Nevada on the site of the previously producing Pegasus Gold Mine. Additional information about Firstgold Corp. can be found by visiting its web site at www.firstgoldcorp.com.

Safe Harbor Statement

The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended that involve risks and uncertainties. Although Firstgold Corp. believes that the expectations reflected in such forward-looking statements are reasonable, the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Firstgold Corp. cautions investors that any forward-looking statements made by Firstgold Corp. are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those reflected in forward-looking statements include, but are not limited to, risks and uncertainties regarding the actual mineralization of Firstgold Corp.’s mining properties, the unproven nature of and potential changes to Firstgold Corp.’s business model, the risk that the capital and other resources that Firstgold Corp. will need to exploit its business model will not be available, and the risks discussed in Firstgold Corp.’s Form 10-KSB and in Firstgold Corp.’s 10-QSBs and in Firstgold Corp.’s other filings with the Securities and Exchange Commission.

 FOR FURTHER INFORMATION PLEASE CONTACT: Firstgold Corp. Stephen Akerfeldt 1-888-904-6531 Email: info@firstgoldcorp.com Website: www.FirstgoldCorp.com

SOURCE: Firstgold Corp.