FIRST MINING GOLD CORP - FFMGF STOCK NEWS

First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF) announced the sale of its non-core Eagle Claims in Manitoba to Grid Metals Corp. for a total value of C$300,000 in cash, 250,000 common shares of Grid Metals, and a future contingent payment of C$350,000, along with a 2.0% NSR royalty on the claims. CEO Dan Wilton emphasized that this transaction demonstrates the value in First Mining's asset portfolio, allowing the company to retain an interest in battery metals through its shareholdings in Grid Metals. First Mining views this as a strategic move to streamline its focus on core gold projects while participating in the growing battery minerals sector.

First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF) has announced the initiation of a 5,000 metre exploration drilling program at its Duparquet Gold Project in Quebec's Abitibi Region. This project boasts a Measured and Indicated Mineral Resource of 3.4 million ounces of gold and an Inferred Mineral Resource of 1.6 million ounces. The drilling will focus on newly developed targets and potential resource growth. First Mining has identified 25 initial target areas based on recent 3D geoscience modeling, aiming for significant resource expansion. A Preliminary Economic Assessment is also underway, expected to be completed in the latter half of 2023. The company has consolidated land tenure around Duparquet, enhancing its project value in the prolific Abitibi gold district.

First Mining Gold Corp. announced results from its 2022 drilling program at the Springpole Gold Project in Northwestern Ontario. The campaign consisted of 62 drill holes totaling 5,834 meters, aimed at advancing geotechnical, hydrogeological, and geochemical studies. Significant findings include the identification of the SW Extension Zone, suggesting additional mineralization beyond the current resource area. Key intercepts from the drilling program include 1.08 g/t Au over 30.0 m in hole SG22-008 and 0.98 g/t Au over 33.0 m in hole SG22-021. The current resource is noted at 4.6 million ounces of measured and indicated gold. The company is optimistic about further resource growth following these encouraging results, as they proceed towards a Feasibility Study for the project.

First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF) reported its fourth quarter and annual financial results for the year ended December 31, 2022, showcasing a transformative year with significant milestones. Key highlights include the acquisition of the Duparquet Gold Project, a $5.3 million flow-through equity financing, and divestment of a non-core royalty for $7 million. The Company is actively advancing its Springpole Gold Project, publishing its inaugural Sustainability and ESG Report, and initiating regional exploration. First Mining emphasizes a strong balance sheet and financial flexibility as it progresses in 2023.

On February 21, 2023, First Mining Gold Corp. announced the completion of its sale of a non-core royalty portfolio to Elemental Altus Royalties Corp. for approximately C$6.7 million. This amount consists of C$4.7 million in cash and 1,598,162 common shares of Elemental Altus. The transaction includes 19 royalties from four countries and features a 2.0% net smelter return on the Pickle Crow Gold Project and a 1.5% NSR royalty on the Hope Brook Gold Project. The consideration shares are subject to hold periods expiring on June 22, 2023, and August 21, 2023.

First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF) has announced a definitive agreement to sell its non-core royalty portfolio to Elemental Altus Royalties Corp. for approximately C$6.7 million, consisting of C$4.7 million in cash and 1,598,162 common shares. The royalty portfolio includes 19 royalties across four countries, notably a 2.0% net smelter return on the Pickle Crow Gold Project. This transaction aims to enhance the company's liquidity and provide financial flexibility to advance its flagship Springpole and Duparquet projects. Closing is anticipated on or before February 14, 2023.