Fischer-Watt Retains RedChip for Investor Programs

DENVER, April 7, 2009 (GLOBE NEWSWIRE) -- Fischer-Watt Gold Company, Inc.
(OTCBB:FWGO) has selected RedChip Securities Inc. to enhance its investor
relations program and increase market-makers' awareness of its stock.

Baxter Capital Advisors Inc., in conjunction with RedChip Securities, will
conduct this market-maker and investor outreach program. "We chose Baxter
Capital and RedChip based on their history of success and experience within the
small-cap investor community," said Peter Bojtos, President of Fischer-Watt.
"Their track-record of success in increasing visibility for small-cap companies
will be instrumental in building investor exposure and awareness in order to
gain value for Fischer-Watt's shareholders."

Over the coming months, Baxter Capital/RedChip will work with the brokerage
community to create understanding and interest in Fischer-Watt with the
expectation of increased trading volumes and additional market-makers ready to
trade FWGO on the OTC Bulletin Board.

The Chicago Resource Expo.

On April 24 & 25, 2009, Fischer-Watt will be presenting and exhibiting at the
Chicago Resource Expo in Rolling Meadows, IL. This conference is held twice a
year and offers opportunities for individual retail investors to learn about
companies in the natural resources sector. Admission is free to the investing
public. For more information about the conference please visit
www.chicagoresourceexpo.com or call 317-502-5838.

About Fischer-Watt Gold Company, Inc.

Fischer-Watt is a U.S. junior mining and exploration company traded on the OTC
BB under the symbol of FWGO. The Company's management team has a strong
background in all facets of the mineral industry, especially in exploration,
production and financing.

The Company's focus is directed at advancing its newly acquired suite of uranium
exploration properties. This portfolio of mineral claims and leases on over
55,000 acres in Wyoming, South Dakota and Arizona covers some of the most
prospective uranium-bearing geology in the United States. Fischer-Watt is
planning a series of exciting exploration programs on these properties over the
coming year.

Nuclear energy generation and the demand for uranium is expected to continue to
increase over the coming years as countries strive to generate large-scale,
stable and economical power with a low carbon footprint. Fischer-Watt aims to be
a future provider to power utilities of the basic mined source of their needed
fuel, a non-enriched product known as yellowcake.

The Fischer-Watt Gold Company, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6051

Statements in this release that are not historical facts are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Readers are cautioned that any such statements are not guarantees of
future performance and that actual developments or results may vary materially
from those projected in the forward-looking statements.

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CONTACT: Fischer-Watt Gold Company, Inc.
Mr. Peter Bojtos P.Eng., President and Chief Executive
Officer
303-232-0292
Mr. Don Lawrence, Investor Relations Manager
415-596-4422
info@fischer-watt.com
www.fischer-watt.com

Baxter Capital Advisors Inc.
Peter Baxter Jr.
480-656-9355
pbaxter@redchipsecurities.com