First Mining Launches 2024 Exploration Program at Duparquet Gold Project in Quebec

• First Mining is launching a multi-pronged 2024 exploration program at its flagship Duparquet Gold Project in Quebec
• 12,000m drilling campaign has commenced, targeting extensions to known resources and testing new regional targets
• Airborne geophysical and LiDAR surveys underway across the property in partnership with ALS Goldspot Discoveries
• Extensive 3D geological modeling project initiated to advance regional exploration and development opportunities
• First Mining owns a portfolio of advanced-stage gold projects in Canada and a large equity stake in Treasury Metals

About First Mining Gold Corp.

First Mining Gold is a gold-focused developer advancing two of the largest gold projects in Canada - the Springpole Gold Project in Ontario and the Duparquet Gold Project in Quebec.The company was founded in 2015 by Keith Neumeyer, the founding CEO of First Majestic Silver. First Mining has quickly assembled a portfolio of high-quality Canadian gold assets through a series of acquisitions and strategic partnerships. In addition to its flagship development projects, the company also owns the Cameron Gold Project in Ontario, the Pickle Crow Gold Project (being advanced with Firefly Metals), the Hope Brook Gold Project (being advanced with Big Ridge Gold), and a significant equity stake in Treasury Metals.

First Mining's experienced management team is focused on creating shareholder value through the exploration and development of its expansive project pipeline. With two PEA-stage projects advancing towards production decisions, and an aggressive exploration strategy underway, the company offers investors exposure to a diversified portfolio of gold assets in top-tier mining jurisdictions.

2024 Duparquet Exploration Program

First Mining's flagship Duparquet Gold Project is located in the Abitibi region of Quebec, one of the world's premier mining districts. The project hosts a large gold resource base of 3.44Moz Measured & Indicated at 1.55 g/t Au, plus 2.64Moz Inferred at 1.62 g/t Au. A positive PEA was completed in 2023, outlining a robust development opportunity.

The 2024 exploration program at Duparquet aims to build upon the success and insights gained from the 2023 work, with continued focus on resource expansion and regional discovery potential across the 5,800 hectare property package that spans 19km along the prolific Destor-Porcupine Fault Zone.

12,000m Drilling Campaign

Drilling has now commenced with a Phase 3 program that will total approximately 12,000m. The program is multi-pronged, targeting extensions to known resources as well as high-priority regional discovery targets generated from the 2023 field programs.

Initial focus will be on near-resource targets such as the Buzz Zone which returned 6.52 g/t Au over 4.6m in 2023 drilling. Drilling will also test the Valentre target which yielded hits of 1.71 g/t Au over 8.9m and 1.29 g/t Au over 7.6m last year. These targets have potential to extend known zones of mineralization along strike and to depth.

Other priority regional targets slated for drilling include areas along the Destor-Porcupine Fault Corridor that have seen limited historical testing. The 2023 field programs successfully defined numerous untested targets through systematic data compilation, geophysical surveys, and prospecting.

Airborne Geophysical & LiDAR Surveys

In parallel with the drilling, First Mining has partnered with leading industry group ALS Goldspot Discoveries to complete property-wide airborne magnetic and LiDAR surveys at Duparquet. These high-resolution surveys will be flown with Goldspot's proprietary M-PASS platform, with the resulting data integrated with 2022 survey data covering portions of the property.

The new geophysical data will be critical in resolving structural controls on mineralization to support detailed 3D modeling for both resource development and regional exploration targeting. The LiDAR topographic data will also have applications in ongoing engineering studies and permitting work as the Duparquet project advances.

3D Geological Modeling

Building off the 2023 geological modeling focused on the Duparquet deposit area, First Mining has engaged BBA Engineering to develop a property-wide 3D geological model covering the full 42 km² project area. This will be a powerful tool for interrogating the extensive project dataset and refining drill targets for both resource expansion and discovery-focused drilling.

The 3D model will integrate drilling data, surface mapping, geophysical datasets and structural interpretations across the entire property package. It represents a step-change in First Mining's understanding of the geological framework and will be a key foundation for ongoing exploration and development studies.

Field Exploration Program

Field work has also commenced for the 2024 season, with mapping and prospecting crews mobilizing to site. The field program will focus on systematically evaluating the numerous regional prospects and geophysical targets across the Duparquet property.

Targeted mapping and sampling will be completed in key areas to support the evolving 3D geological model and refine drill targets in advance of regional drill testing. The field crews will also follow up on the encouraging results from 2023 prospecting which identified several new mineralized trends warranting additional work.

First Mining has a strong ESG ethos and is committed to operating in a safe, sustainable and responsible manner with active engagement with local stakeholders. The company has a comprehensive health & safety program in place and continues to prioritize protection of the environment across its operations.

Conclusion

The 2024 exploration program promises to be a transformative year for the Duparquet Gold Project as First Mining embarks on an aggressive resource expansion and discovery-focused drill campaign supported by cutting-edge geophysical and geological modeling across the district-scale property.

The company's strong technical team, strategic partnerships and disciplined capital allocation are key differentiators as it efficiently advances Duparquet in parallel with its Springpole project in Ontario. With a high-quality asset base, proven leadership and a well-funded treasury, First Mining is well positioned to unlock value through the drill bit in 2024.

For investors seeking exposure to gold through a diversified portfolio of advanced-stage development and exploration projects in top ranked mining jurisdictions, First Mining Gold Corp. stands out as a compelling opportunity. Backed by a world-class team with a track record of value creation, the company is poised for a steady stream of catalysts as it aggressively advances its project pipeline to build the next tier one gold producer in Canada.