First Mining - FFMGF STOCK NEWS

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.

First Mining Gold Corp. (OTCQX: FFMGF) announced the acquisition of IAMGOLD Corp.'s Porcupine East Property, increasing its land position by 50% to over 5,800 hectares in Quebec. The transaction, valued at 2.5 million shares, includes a 1.5% net smelter return royalty and contingent payments of $1.5 million based on resource declaration and commercial production. The Porcupine East Property, located strategically between the Duparquet, Pitt, and Duquesne projects, adds 7 km of key ground along the Destor-Porcupine Fault Zone and features 3 past producing gold mines. The closing date is expected by February 3, 2023.

First Mining Gold Corp. (OTCQX: FFMGF) has announced positive results from its exploration activities at the Birch-Uchi Greenstone Belt (BUGB) project in Ontario. Initial rock sampling revealed high-grade gold mineralization with results up to 42.4 g/t Au. The company is implementing a district-scale exploration strategy across its 70,000-hectare property, which is near its Springpole Gold Project, currently advancing toward feasibility. Notable exploration achievements include a completed airborne geophysical survey covering 3,843 line-kilometers and the collection of over 700 soil samples. This project is expected to boost exploration growth potential and socio-economic benefits for local communities.

First Mining Gold Corp. has successfully closed the sale of its 1.5% net smelter return royalty on the Goldlund gold property for approximately C$9.5 million (US$7 million) to Sprott Resource Streaming and Royalty Corp. This transaction enhances First Mining's liquidity and allows it to focus on its core assets. Post-sale, the company maintains a diverse royalty portfolio that includes 20 royalties across four countries, ensuring continued revenue potential from its various projects.

First Mining Gold Corp. has completed a C$9.5 million (~US$7 million) royalty sale agreement regarding its 1.5% net smelter return royalty on the Goldlund property in Ontario to Sprott Resource Streaming and Royalty Corp. This transaction is expected to close by December 31, 2022. The proceeds will enhance the company’s financial flexibility, allowing it to focus on advancing its flagship assets, Springpole and Duparquet. Following this, First Mining will have 20 royalties in its portfolio across four countries.

First Mining Gold Corp. has filed a NI 43-101 Technical Report for its Duparquet Gold Project, indicating a total gold resource of 5.0 million ounces (3.4 Moz Measured and Indicated, 1.6 Moz Inferred). The Project is located in Quebec, Canada, with existing infrastructure enhancing its viability. The report notes a 10.5% increase in Measured and Indicated resources and a 13.4% increase in Inferred resources compared to 2014 estimates, attributed to updated economic parameters and additional drilling. The next steps involve further exploration to upgrade Inferred resources.

First Mining Gold Corp. has completed the acquisition of Beattie Gold Mines Ltd., along with 2699681 Canada Ltd. and 2588111 Manitoba Ltd., for a total transaction value of approximately $24 million. This acquisition grants First Mining full ownership of the Duparquet Gold Project in Quebec, which has an updated resource of 3.4 million ounces gold Measured and Indicated and an additional 1.6 million ounces Inferred. The company plans to enhance the project's environmental data and conduct engineering studies to support future development.

First Mining Gold Corp. announced that Big Ridge Gold has completed the Stage 1 earn-in for the Hope Brook Gold Project, fulfilling a $10 million investment requirement. Under the agreement, Big Ridge issued 15 million shares to First Mining and granted a 1.5% net smelter return royalty. Following this, Big Ridge secures a 51% ownership stake and aims to earn an additional 29% by June 2026. The project has historical production of over 752,000 ounces of gold and hosts significant indicated and inferred resources, showcasing its potential for development.