CAMERON PARK, CALIFORNIA--(Marketwire - Sept. 4, 2008) - Firstgold Corp. (TSX:FGD)(OTCBB:FGOC) announced today that it has received notice from the Bureau of Land Management that its $2.1 million (US) bond increase has been accepted. This is the final component to the completion of the permitting process, and brings the total Relief Canyon bond amount to $2.8 million (US).

Having completed the permit and bonding process, Firstgold has begun construction of its new heap leach pad, with an anticipated completion date of October 15. As previously reported, Firstgold plans to produce its first gold product between November 1 and November 15, and is optimistic that there will be no weather related delays.

Additionally, having completed the bonding process, Firstgold is now eligible to draw down on the second tranche of its recent financing for an additional net amount of $3.89 million (US). The company is scheduled to receive this money the week of September 8th in accordance with its project timelines and cash flow requirements.

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. Firstgold currently leases over 35,000 acres of prime exploration property in Nevada. 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