First Mining Gold Publishes ESG Report: Responsible Development of Major Gold Projects

• First Mining Gold published its third annual ESG Report, highlighting achievements in sustainability, ethics, and governance
• Zero recordable injuries in 2023, with 174 hours of health and safety training provided
• 43% of full-time employees are female, with 19% self-identifying as Indigenous
• Over $4.7 million spent on local goods and services, including Indigenous-owned businesses
• Significant progress on environmental studies and community engagement for Springpole and Duparquet projects

First Mining Gold Corp. is a Canadian gold developer focused on advancing two of the largest undeveloped gold projects in Canada. The company's flagship Springpole Gold Project in northwestern Ontario and the Duparquet Gold Project in Quebec represent significant opportunities in the North American gold mining sector. Founded in 2015 by industry veteran Keith Neumeyer, First Mining has built a portfolio of gold projects with a focus on sustainable development and responsible mining practices.

First Mining Gold Publishes Comprehensive 2023 ESG Report

First Mining Gold Corp. has released its third annual Environmental, Social, and Governance (ESG) Report, showcasing the company's commitment to sustainable practices, ethical conduct, and transparent governance throughout 2023. The report highlights First Mining's achievements in environmental stewardship, community relations, and responsible project development at its two flagship assets: the Springpole Gold Project in Ontario and the Duparquet Gold Project in Quebec.

Strong Safety Performance & Diversity Initiatives

One of the standout achievements in First Mining's 2023 ESG Report is the company's impeccable safety record. With zero total recordable injury cases reported, First Mining demonstrates its unwavering commitment to worker safety. This achievement is further bolstered by the provision of 174 hours of health and safety training, ensuring that employees are well-equipped to maintain a safe working environment.

The company has also made significant strides in promoting diversity and inclusion within its workforce. In 2023, 43% of First Mining's full-time employees were female, representing a notable increase from 35% in the previous year. Additionally, 19% of full-time employees self-identified as Indigenous, underlining the company's commitment to fostering a diverse and inclusive workplace that reflects the communities in which it operates.

Environmental Stewardship & Community Investment

First Mining's environmental initiatives in 2023 included the completion of local Caribou and Wolverine habitat assessment programs, demonstrating the company's proactive approach to understanding and mitigating potential impacts on local ecosystems. These studies will inform future project planning and environmental management strategies.

The company's commitment to local communities is evident in its significant economic contributions. In 2023, First Mining spent over $4.7 million on goods and services from local and Indigenous-owned businesses, representing a 24% increase from 2022 and a 58% increase from 2021. This substantial investment in local economies underscores First Mining's role as a catalyst for regional economic development.

Furthermore, the company provided $1.3 million in capacity support to Indigenous communities, facilitating their participation in project assessments and decision-making processes. This investment in community engagement and empowerment is a testament to First Mining's commitment to fostering positive relationships with Indigenous partners.

Advancing the Springpole Gold Project

The Springpole Gold Project, located in northwestern Ontario, continues to be a flagship asset for First Mining. In 2023, the company made significant progress in advancing the project through the environmental assessment (EA) process. Key highlights include:

1. Ongoing review and optimization of the draft Environmental Impact Statement/Environmental Assessment (EIS/EA) based on feedback from stakeholders.
2. Initiation of a regional caribou study, involving aerial surveys and GPS collaring of 50 caribou to inform conservation and management strategies.
3. Commencement of a wolverine study using non-invasive monitoring techniques to understand species distribution and habitat use.
4. Completion of an additional Lake Sturgeon eDNA study to identify potential spawning sites and evaluate species reintroduction potential.

These environmental initiatives demonstrate First Mining's commitment to comprehensive ecological understanding and responsible project development. The company plans to submit the final EIS/EA for Springpole in 2024, marking a crucial milestone in the project's advancement.

Duparquet Gold Project: A New Focus on Sustainable Development

First Mining's acquisition and development of the Duparquet Gold Project in Quebec represent another significant opportunity for sustainable gold production. In 2023, the company:

1. Completed a positive Preliminary Economic Assessment (PEA) for Duparquet, supporting a 15,000 tonnes per day operation over an 11-year mine life.
2. Conducted meetings with various Quebec ministries to discuss ongoing exploration initiatives and plans for reclaiming historic infrastructure.
3. Engaged with local communities, including the Municipality of Duparquet and Indigenous groups, to share project information and gather feedback.
4. Completed renovations on a Community Relations Office in Duparquet, facilitating ongoing dialogue with local residents.

The company's approach to Duparquet emphasizes the potential for environmental improvement through the redevelopment of a brownfield site, including the remediation of old tailings and contaminated soil management.

Governance & Ethical Business Practices

First Mining's commitment to strong corporate governance is evident in its board structure and policies. The company maintains a diverse board of directors, with regular ESG discussions integrated into board meetings. Key governance highlights include:

1. Implementation of a comprehensive Code of Business Conduct and Ethics.
2. Maintenance of critical policies such as the Whistleblower Policy, Securities Trading Policy, and Disclosure and Communications Policy.
3. Adoption of a Diversity Policy to promote inclusivity at all levels of the organization.

These governance practices ensure that First Mining operates with integrity and transparency, aligning its business objectives with the interests of shareholders, local communities, and the environment.

Looking Ahead: ESG Priorities for 2024 and Beyond

As First Mining Gold continues to advance its projects, the company has outlined several ESG priorities for the coming years:

1. Submission of the final EIS/EA for the Springpole Project in 2024.
2. Continued engagement with Indigenous communities and local stakeholders at both Springpole and Duparquet.
3. Advancement of environmental baseline studies and project optimization at Duparquet.
4. Implementation of a three-year process to achieve Certificate of Recognition (COR®) accreditation for health and safety management.
5. Development of a Net Zero Strategy for the Springpole Project, including potential measures to reduce greenhouse gas emissions.

These forward-looking initiatives demonstrate First Mining's long-term commitment to sustainable development and responsible mining practices.

Challenges & Risk Management

While First Mining has made significant strides in its ESG performance, the company acknowledges the challenges inherent in developing large-scale mining projects. The ESG Report outlines the company's approach to risk management, including:

1. Quarterly review and monitoring of top enterprise risks, including ESG-related categories.
2. Implementation of an anonymous grievance mechanism through the corporate Whistleblower Policy/Hotline.
3. Ongoing engagement with regulatory bodies and stakeholders to address potential environmental and social impacts.

By proactively identifying and addressing potential risks, First Mining aims to mitigate challenges and maintain its social license to operate.

Industry Context & Market Position

First Mining Gold's ESG initiatives should be viewed within the broader context of the gold mining industry's shift towards more sustainable practices. As investors increasingly prioritize ESG factors in their decision-making, companies like First Mining that demonstrate leadership in sustainability are well-positioned to attract capital and maintain stakeholder support.

The company's focus on developing two of the largest undeveloped gold projects in Canada provides a unique value proposition for investors. By combining significant gold resources with a strong commitment to ESG principles, First Mining offers exposure to the potential upside of gold production while mitigating environmental and social risks.

Conclusion

For investors considering First Mining Gold, the company's 2023 ESG Report presents a compelling case for sustainable investment in the gold mining sector. With Springpole and Duparquet advancing towards development, First Mining offers exposure to significant gold resources in stable jurisdictions. The company's proactive approach to environmental management, community engagement, and governance positions it favorably in an industry facing increasing scrutiny on sustainability issues.

First Mining's extensive community and Indigenous relations efforts help mitigate social and regulatory risks associated with project development. By addressing ESG concerns early in the project lifecycle, First Mining may be better positioned to navigate permitting processes and attract project financing. Gold projects with strong ESG credentials may command premium valuations as the world transitions to a low-carbon economy.

While investors should always consider the risks associated with pre-production mining companies, First Mining Gold's comprehensive ESG strategy and significant project portfolio present an attractive opportunity for those seeking exposure to responsible gold development in North America. As the company continues to advance its projects and strengthen its ESG performance, First Mining Gold represents a unique investment proposition at the intersection of resource potential and sustainable development in the gold mining sector.