FIRST MINING GOLD CORP - FFMGF STOCK NEWS

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.

First Mining Gold Corp. announced an updated Mineral Resource Estimate (MRE) for the Duparquet gold project in Quebec, increasing the measured and indicated resources to 3.4 million ounces and inferred resources to 1.6 million ounces. This update incorporates data from 57 new drill holes, totaling 9,548 meters, resulting in a significant resource growth of 327,000 ounces in M&I and 193,000 ounces in inferred resources since 2014. The project site benefits from excellent infrastructure and skilled labor, positioning it as one of Quebec's top undeveloped gold projects.

First Mining Gold Corp. announced an update on its acquisition of Beattie Gold Mines Ltd. Under the Beattie Offer, all remaining shares, representing 2.4%, have been tendered, giving First Mining 100% ownership. Additionally, the company will simultaneously close share purchase agreements for 2699681 Canada Ltd. and 2588111 Manitoba Ltd., further strengthening its portfolio. This acquisition will give First Mining full control over the Duparquet Gold Project, one of Canada's largest advanced-stage gold projects, enhancing its position in the gold sector.

First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF) announced an update on its acquisition of Beattie Gold Mines Ltd. through the Beattie Offer made on July 18, 2022. First Mining has secured irrevocable lock-up agreements for 1,358,652 shares, representing 72.3% of Beattie Gold's shares, bringing its total ownership to 97.6%. The offer conditions have been met, and First Mining expects to complete the acquisition by the September 15, 2022 closing date, ultimately acquiring 100% of Beattie Gold and related companies.