Pci-e 1.0 card is compatible with Pci-e 2.0 slot. However, pci-e 2.0 card NOT backwards compatible with pci-e 1.0 slot. As strange as it is, there some mobos with exceptions, depending on the chipset. But one thing is for sure. That mobo has an OLD nvidia chipset that is definitely NOT compatible with a pci-e 2.0 card.
That actually makes sense.
Anyways, I went up to my buddy's PC shop and got the Foxconn A74ML-K
for $50 and everything is working great now. Getting 310Mh/s so, no complaints here!