First Mining Submits Springpole Project Final EIS/EA - A Major Milestone for Future Growth

• First Mining Gold has submitted the Final Environmental Impact Statement / Environmental Assessment (Final EIS/EA) for its Springpole Gold Project in northwestern Ontario.
• The Final EIS/EA incorporates over 14 years of research and data, and includes design optimizations that improve the project's environmental and operational performance.
• Analysis shows the Springpole Project will meet all regulatory requirements, including fish habitat offsetting and stringent water quality guidelines.
• The project is expected to create over 43,000 person-years of employment, over $2 billion in government revenue, and provide significant opportunities for local and Indigenous communities.
• The next steps involve a conformity review and public comment period, with the EIS/EA process anticipated to conclude in Q4 2025.

First Mining Gold Corp. (TSX:FF) is a gold developer advancing two of the largest gold projects in Canada - the Springpole Gold Project in northwestern Ontario and the Duparquet Gold Project in Quebec. The company also owns the Cameron Gold Project in Ontario and a portfolio of other gold project interests. First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic Silver Corp.

Major Milestone Achieved with Final EIS/EA Submission

On November 5, 2024, First Mining announced a significant milestone in the advancement of its flagship Springpole Gold Project with the submission of the Final Environmental Impact Statement / Environmental Assessment (Final EIS/EA). This marks the culmination of two and a half years of consultation and engagement since submitting the draft EIS/EA in May 2022.

The Final EIS/EA incorporates over 14 years of research and data collection and includes several optimizations completed since the Pre-Feasibility Study that improve the project's environmental and operational performance. It assesses more than 20 environmental and socio-economic factors, a detailed analysis of the project design, as well as proposed environmental mitigation measures and major benefits throughout the project's lifecycle.

Robust Environmental Assessment & Mitigation Measures

Through advancements in project designs, analysis shows that all regulatory requirements will be met by the Springpole Project, including fish habitat offsetting and water quality that will meet stringent Canadian Water Quality Guidelines during all phases of the project.

The Final EIS/EA has optimized the project based on input received from all parties during the draft EIS/EA review process. This demonstrates First Mining's commitment to developing the project in an environmentally responsible manner while addressing the concerns of stakeholders.

Significant Economic & Social Benefits

The Springpole Project is positioned to become a major economic driver for northwestern Ontario. It is expected to create over 43,000 person-years of employment and generate over $2 billion in government revenue. The project will also provide substantial training, employment, and business opportunities for local and Indigenous communities.

"Through advancements in Project designs, analysis shows that all regulatory requirements will be met by the Project, including fish habitat offsetting and water quality that will meet stringent Canadian Water Quality Guidelines during all phases of the Project.... Through the creation of over 43,000 person-years of employment, over $2 billion in government revenue, and with the training, employment and business opportunities for local and Indigenous communities, Springpole is positioned to be the new economic engine for Northwestern Ontario”. - Dan Wilton, CEO of First Mining

First Mining continues to engage with Indigenous communities to support local capacity needs and consultation processes. The company aims to achieve mutual information sharing and understanding for the long term.

Next Steps in the Permitting Process

Following the Final EIS/EA submission, the next steps involve:

• A conformity review by the Impact Assessment Agency of Canada (IAAC) to confirm that the Final EIS/EA meets the EIS guidelines
• A public comment period for the provincial and federal processes, expected to close in Q1 2025

The complete EIS/EA process is anticipated to conclude in Q4 2025. This timeline provides clarity for investors on the expected permitting schedule for the Springpole Project.

Advancing a Robust Project Portfolio

In addition to Springpole, First Mining is advancing the PEA-stage Duparquet Gold Project in Quebec, located on the prolific Destor-Porcupine Fault Zone in the Abitibi region. The company has commenced a feasibility study for Springpole and permitting activities are ongoing.

First Mining also owns the Cameron Gold Project in Ontario and a portfolio of other gold project interests, including the Pickle Crow Gold Project (being advanced in partnership with Firefly Metals Ltd.) and the Hope Brook Gold Project (being advanced in partnership with Big Ridge Gold Corp.). This diverse project pipeline provides multiple avenues for growth and value creation.

Conclusion

The submission of the Final EIS/EA for the Springpole Gold Project marks a significant de-risking event for First Mining Gold. It demonstrates the company's commitment to advancing the project through the permitting process in an environmentally and socially responsible manner.

With a clear permitting timeline, robust environmental assessment and mitigation measures, and significant economic and social benefits, the Springpole Project is well-positioned to become a major gold mine in Canada. As First Mining continues to advance Springpole and its other projects, the company presents a compelling investment opportunity for those seeking exposure to gold development in stable jurisdictions.

Investors should monitor First Mining's progress as it moves through the final permitting stages for Springpole and advances its other projects. With an experienced management team, strong project portfolio, and commitment to responsible development, First Mining Gold is poised for growth in the gold sector.