First Mining Gold - Unlocking Value Through Exploration and Advancing Major Projects

About First Mining Gold

First Mining Gold Corp. is a Canadian mineral exploration and development company focused on advancing its portfolio of gold projects in Ontario and Quebec. The Vancouver-based company was founded in 2015 by Keith Neumeyer of First Majestic Silver, who remains a major shareholder. First Mining has a market capitalization of over $100 million, with around 80% of its shares held by retail investors and 15% by institutions.

The company's flagship assets are the Springpole and Duparquet gold projects, which rank among the largest undeveloped gold projects in Canada. First Mining also holds the advanced stage Cameron exploration project in Ontario and has joint ventures on other properties. The company’s portfolio gives it substantial leverage to potential upside in gold prices while advancing studies and exploration across multiple district-scale land packages.

Advancing Springpole Towards Development

The Springpole gold project is located approximately 400km northwest of Thunder Bay, Ontario. The large low-grade open pit project contains 151 million tonnes of gold at 0.94 g/t, totalling 4.6 million ounces of gold and 24.3 million ounces of silver in the indicated mineral resource category. Springpole is one of the largest undeveloped gold projects in Ontario.

A 2021 pre-feasibility study outlined annual production potential of 335,000 oz gold in years 1 through 9 of it's mine life. First Mining is advancing permitting, baseline environmental studies and further technical de-risking efforts for the project. Recent metallurgical test results indicate the potential to improve recoveries through pre-aeration.

The 2023 exploration drilling program focused on expanding the current resource base by targeting mineralization in the southwestern portion of the deposit. Results intersectedgrades up to 2.3 g/t over 45m, successfully demonstrating resource expansion potential. Ongoing regional exploration has also defined several high-priority drill targets along the largely underexplored Birch-Uchi greenstone belt that hosts Springpole.

Advancing Duparquet Towards a Construction Decision

The Duparquet gold project, located in the prolific Abitibi region of Quebec, contains 3.4 million ounces of gold in the Indicated Mineral Resource category and 2.7 million ounces of gold in the Inferred Mineral Resource category. With significant infrastructure already in place, Duparquet has potential for near-term development.

A 2023 preliminary economic assessment outlined average annual production of 233,000 oz over an initial 11-year mine life. The project covers 19km of strike length along the Destor-Porcupine fault zone, a highly productive structure with several operating mines. Ongoing exploration aims to build on open extensions of existing deposits and test multiple earlier stage targets.

Recent drilling results have successfully confirmed resource expansion potential at the Main Zone deposit, intersecting high-grade mineralization over significant widths. First Mining believes additional value can be unlocked at Duparquet through consolidating past datasets and applying a systematic exploration approach across the consolidated land package.

Advancing the Cameron Gold Project

The Cameron gold project in northwestern Ontario contains a large district-scale land package of over 500 km2 around a deposit with estimated measured and indicated resources of 0.5 million ounces gold. First Mining sees exploration upside in testing the numerous drill-ready regional targets.

A 2023 exploration program focused on understanding controls on mineralization will support follow-up drilling on the most prospective targets. While not currently a development priority, Cameron represents a sizeable gold asset that can be advanced in a strengthened gold market.

Conclusion

With a portfolio of advanced Canadian gold assets at different stages of exploration and development, First Mining Gold offers investors significant leverage to the upside potential in gold. The company's near-term focus is on advancing Springpole and Duparquet, two district-scale projects capable of supporting decades of low-cost production.

Continued de-risking efforts aim to showcase the value proposition of these assets to potential acquirers and partners as well as investors. The company’s systematic exploration programs have been successful in generating and advancing targets that highlight the broader exploration potential surrounding its existing resource bases.

For investors seeking leverage to gold prices through exposure to large, scalable gold projects in mining-friendly Canadian jurisdictions, First Mining Gold provides an attractive investment opportunity.