First Mining Gold Reports Encouraging Initial Drill Results from Duparquet Gold's 2024 Exploration Program

• First Mining Gold reports encouraging initial drill results from its 2024 exploration program at the Duparquet Gold Project in Quebec
• Highlighted drill intercepts include 3.11 g/t Au over 13.16m and 3.07 g/t Au over 10.32m from the first-ever drilling targeting the North Zone
• Results continue to demonstrate strong mineralization continuity and resource expansion potential at Duparquet
• First Mining is advancing a multi-pronged exploration strategy at Duparquet in 2024, including regional geophysical surveys, drilling, and geological modeling
• The Duparquet Project currently hosts 3.44 Moz Measured & Indicated (1.55 g/t Au) and 2.64 Moz Inferred (1.62 g/t Au) resources, with further growth potential

About First Mining Gold

First Mining Gold Corp. (TSX: FF) is a Canadian gold developer advancing two of the largest gold projects in the country - the Springpole Gold Project in Ontario and the Duparquet Project in Quebec. First Mining also owns the Cameron Project in Ontario and a large equity stake in Treasury Metals.

The company was founded in 2015 by Keith Neumeyer, the founding CEO of First Majestic Silver. First Mining's flagship Springpole Project is one of the largest undeveloped gold projects in Canada, with permitting and a Feasibility Study underway. At Duparquet, First Mining is conducting exploration and technical studies to expand the multi-million ounce resource.

Positive Initial Drill Results from Duparquet

First Mining announced initial results from its 2024 winter drill program at the Duparquet Gold Project in the Abitibi region of Quebec. The highlighted intercepts come from the first-ever holes targeting the North Zone deposit area, pointing to the potential for further resource growth.

Drill hole DUP24-018 returned 3.11 g/t Au over 13.16m and hole DUP24-019 intersected 3.07 g/t Au over 10.32m and 3.19 g/t over 4.53m. These results confirm the continuity of higher-grade mineralization at Duparquet and the potential to expand resources down-plunge and along strike of known zones.

CEO Dan Wilton stated: "These initial results from our winter program are encouraging and continue to demonstrate the upside potential at the Duparquet Gold Project. We continue to leverage our integrated geoscience model as we build resource and exploration confidence at the Project."

North Zone Drilling Highlights Resource Expansion Potential

The initial holes from the winter program targeted down-dip and along-strike extensions of higher-grade mineralization trends at the North Zone. Drilling successfully intersected gold-bearing structures and altered rock units consistent with the current geological model.

Key highlights from holes DUP24-018 and DUP24-019 include:

• 20.00 g/t Au over 0.69m from 144.0m and 3.11 g/t Au over 13.16m from 175.52m (DUP24-018)
• 11.70 g/t Au over 0.53m from 376.47m and 1.53 g/t Au over 14.15m from 385.82m, incl. 17.70 g/t Au over 0.50m (DUP24-018)
• 3.07 g/t Au over 10.32m from 87.94m, incl. 9.19 g/t Au over 0.85m, and 3.19 g/t Au over 4.53m from 102.3m (DUP24-019)

The North Zone target demonstrates excellent potential for resource expansion both laterally and vertically. Ongoing drilling will continue to test the geometry and growth potential of multiple higher-grade trends within the North Zone and adjacent areas.

Regional Discovery Drilling at the Rex Target

Outside of the main resource area, First Mining is conducting regional grassroots exploration aimed at making new discoveries across the 5,800 hectare Duparquet property package. Initial drilling was completed at the Rex Target, situated along a D2 structure approximately 500m north of the current resource.

Hole DUP24-021 returned an encouraging intercept of 0.73 g/t Au over 3.85m from 205.85m at Rex. Mineralization is associated with quartz-carbonate veining and sulfides within a graphitic shear zone. Follow-up work at Rex will include airborne magnetic surveys to better delineate structural trends for further drill testing.

VP Exploration James Maxwell commented: "Our first 2024 drill results at Duparquet demonstrate our ability to open up exploration space with a systematic, integrated geoscience approach. We see tremendous upside as we continue to advance both deposit-level and regional growth opportunities across the Project."

Duparquet Exploration Strategy

First Mining is deploying a multi-pronged exploration approach at Duparquet in 2024 to advance both resource expansion and new discovery opportunities. Program components include:

• Diamond drilling to upgrade and expand resources in the North Zone and other targets
• Regional airborne magnetic and LiDAR surveys covering the full property
• Continued grassroots prospecting and sampling to generate new targets
• Expanded 3D geological and exploration model to guide ongoing programs

The Duparquet Project benefits from extensive historical data that is being leveraged with modern geoscience tools and approaches to identify the highest-potential drill targets. Systematic exploration by First Mining aims to unlock the full potential of this underexplored segment of the prolific Destor-Porcupine Fault Zone.

Conclusion

The initial 2024 drill results from First Mining's Duparquet Gold Project confirm the continuity of mineralization and resource expansion potential at this past-producing mine complex in the Abitibi Greenstone Belt. Drilling at the North Zone returned impressive gold grades over wide widths, supporting the Company's geological model and providing a strong catalyst for follow-up exploration.

Elsewhere, regional discovery-focused drilling at the Rex target intersected gold mineralization in a previously untested area, highlighting the potential for grassroots discoveries at Duparquet. First Mining is taking an integrated, multi-pronged approach to systematically explore and expand the resource base in 2024.

With 3.44 Moz in measured & indicated resources (1.55 g/t Au) and 2.64 Moz Inferred (1.62 g/t Au), Duparquet represents an attractive brownfields asset in a Tier-1 mining jurisdiction. Upcoming catalysts for the project include additional drill results, regional exploration data, and an updated geological model.

As First Mining continues to deliver exploration success at Duparquet and advance its flagship Springpole Project through permitting and feasibility, the Company is well positioned to create value for shareholders. First Mining offers investors exposure to two of the largest gold development projects in Canada, along with a portfolio of earlier-stage assets and a proven technical and management team.