Got Parlay?

[Dragynn]

FGOCQ- Chap. 11 filed in January, starting DD parlayers, I see some potential here if they get financing, or a partner.

http://finance.yahoo.com/news/Firstgold-Files-for-Chapter-iw-1602997950.html?x=0&.v=1

Press Release Source: Firstgold Corp. On Thursday January 28, 2010, 6:25 pm EST

TORONTO--(Marketwire - 01/28/10) - Firstgold Corp. (TSX:FGD - News) (OTC.BB:FGOC - News) ("Firstgold" or "the Company") has filed for Chapter 11 protection under the United States Bankruptcy Code. In a filing yesterday in Reno, Nevada Firstgold listed assets of $17,957,805 and Liabilities of $26,981,427 and outstanding shares of 196,770,012. While in the Chapter 11 proceeding current management will continue to operate Firstgold as debtor-in-possession.

"Filing for Chapter 11 protection will, we hope, give Firstgold the time we need to bring a successful restructuring proposal to our creditors and shareholders. A plan we think will ultimately, see us put our Relief Canyon mine back into production, and one that will include providing value to our shareholders," comments Terry Lynch, Firstgold CEO.

"The termination of the Northwest deal on December 21, 2009 meant we had a very short period of time to find a new investment group or buyer for our company. Chapter 11 will extend this time and protect the company while we seek a comprehensive solution that might be able to be executed under the particular remedies available within the Chapter 11 environment," Mr. Lynch commented.

With the Chapter 11 filing Firstgold also announced that Bob Heimler has resigned as a director of the company. "Bob Heimler was and is a friend of Firstgold; he invested his own money and time when many were afraid. Companies need more Directors like Bob Heimler and we are the worse for his departure. Bob feels, understandably, that in the current environment of Chapter 11 that there is little he can do to be a positive force for our shareholders and regrettably has decided to take this time to resign. We thank Bob for his service and dedication on the behalf of the Company," commented Mr. Lynch.

Firstgold has spent $16 million over the last 24 months developing a processing facility at Relief Canyon, 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