Mexican Gold Announces Non-Brokered Private Placement

Mexican Gold Mining Corp. (TSXV: MEX) (the "Company" or "Mexican Gold") announces that it has arranged a fully-allocated non-brokered private placement of up to 10,000,000 units of the Company (the "Units") at a price of $0.085 per Unit to raise gross proceeds of up to $850,000 (the "Offering"). Each Unit consists of one (1) common share of the Company ("Share") and one (1) transferable common share purchase warrant ("Warrant"), whereby each Warrant shall entitle the holder thereof to purchase an additional Share at an exercise price of $0.12 for a period of three (3) years from the date of issuance.

Mexican Gold intends to use the net proceeds from the Offering as working capital for general corporate purposes. The Company may pay finders fees to eligible finders in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the "Exchange"). All securities to be issued and issuable pursuant to the Offering will be subject to a hold period of four months from the date of issuance in accordance with applicable Canadian securities laws.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Mexican Gold Mining Corp.

Mexican Gold is a Canadian-based mineral exploration and development company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals and copper projects in the Americas. Mexican Gold is exploring and advancing the Las Minas Project, which is located in the core of the Las Minas mining district in Veracruz State, Mexico, and host to one of the newest, under-explored skarn systems known in Mexico.

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

Cautionary Statements Regarding Forward-Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Offering and completion thereof on the terms anticipated by management of the Company, that the Company will receive all necessary approvals in respect of the Offering, including the approval of the TSX Venture Exchange, the intended use of proceeds from the Offering, and the plans of the Company. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to complete the Offering on the terms proposed, the ability of the Company to obtain the requisite approvals of the Offering, including the approval of the TSX Venture Exchange, and management's discretion to reallocate the use of proceeds. Readers should not place undue reliance on the forward-looking statements contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements if beliefs, opinions, projections, or other factors change, except as required by applicable securities laws.

//THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN THE UNITED STATES//

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