First Mining Gold Intersects Significant Gold Mineralization at Saddle Target in Ontario

About First Mining Gold

First Mining Gold Corp. is a Canadian gold development company advancing two of the largest gold projects in Canada - the Springpole Gold Project in northwestern Ontario and the Duparquet, Pitt Gold, Duquesne and Porcupine East Gold Project in Quebec. The company also owns several other advanced stage gold assets. First Mining was established in 2015 by Keith Neumeyer, Founding President and CEO of First Majestic Silver Corp., with the goal of building a leading gold development company.

Promising 2023 Drill Results at Saddle Target

In a recent press release, First Mining announced promising results from the 2023 drilling program at the Saddle target within the company’s Birch-Uchi Greenstone Belt Project (the BUGB Project) in northwestern Ontario. The Saddle target is located approximately 12 km southwest of First Mining’s flagship Springpole Gold Project which hosts 4.6 million ounces of gold in the indicated category and 0.3 million ounces in the inferred category.

The winter 2023 drilling at the BUGB Project comprised 11 drill holes for 2,760 meters focused on three target areas including Saddle, Horseshoe and Atlantis. Initial drilling at the Saddle target included 5 drill holes totaling 842 meters which intersected significant gold mineralization. Highlights include:

• 0.92 g/t Au over 114.0 meters in hole SAT23-001
• 0.75 g/t Au over 57.7 meters in hole SAT23-002

This newly discovered robust mineralization at Saddle remains open for expansion and occurs along interpreted cross-cutting shear structures coincident with geophysical anomalies. The broad mineralized intervals showcase the potential of the area and support additional follow up drilling.

Emerging Gold District

According to Dan Wilton, CEO of First Mining, “Our regional exploration efforts are demonstrating the ability to identify mineralization settings that support new discoveries and potential satellite opportunities in this emerging gold district. In only our second drill target tested, we are seeing the strength of gold endowment hosted in the Birch-Uchi Greenstone Belt where First Mining has focused exploration surrounding its flagship Springpole Gold Project.”

The Saddle target is located within the underexplored Birch-Uchi Greenstone Belt which hosts First Mining’s extensive 70,000+ hectare mineral tenure. The BUGB hosts multiple styles of gold mineralization and First Mining is leveraging an integrated exploration approach using geochemical, geophysical and geological data to advance and refine targets.

First Mining’s 2022 field program at Saddle further advanced geological understanding and helped develop a 3D model to support targeting. Additional airborne geophysics flown in 2022 revealed a key structural shear zone which guided targeting for the 2023 drill campaign.

Conclusion & Outlook

Moving forward, First Mining plans summer field programs to advance mapping and sampling around Saddle with a focus on refining the geology model. Further drill hole assay results from Horseshoe and Atlantis are pending and will be released once completed.

With success at its second drilled target within the broader BUGB Project area, First Mining’s regional exploration strategy appears to be paying dividends in this underexplored district. The Saddle results showcase the prospectivity and provide another potential satellite development opportunity in close proximity to the company’s flagship Springpole Project. Wise investors may want to keep a close eye on First Mining as exploration continues to unlock the potential of this strategic Canadian gold district.