First Mining's Drilling Reveals Two New Gold Zones at Duparquet Project in Quebec

• First Mining made two new gold discoveries, Miroir and Aiguille, during expansion drilling at its Duparquet Gold Project in Quebec.
• Miroir zone returned 3.12 g/t Au over 19.35 m including 5.47 g/t over 9.6 m; Aiguille zone intercepted 8.99 g/t Au over 3.1 m, and 142 mineralized intercepts across 16 holes demonstrate strong continuity between Central Duparquet, Valentre and Dumico ("CVD") areas.
• Duparquet hosts 3.44 Moz Measured & Indicated at 1.55 g/t Au and 2.64 Moz Inferred at 1.62 g/t Au with significant expansion potential.
• The company plans aggressive 2025 drill programs to capitalize on exploration success and grow the gold resource.

First Mining Gold Corp. (TSX:FF) is a Canadian gold developer advancing two major gold projects - the Springpole Gold Project in Ontario and the Duparquet Gold Project in Quebec. The company, established in 2015, also owns the Cameron Gold Project in Ontario and several other earlier-stage gold projects. First Mining is led by an experienced management team with a track record of building value in the mining industry.

New High-Grade Gold Discoveries

First Mining's expansion drilling at the Duparquet Project has yielded exciting results with the discovery of two new high-grade gold zones. The Miroir zone, located 225 m north of the main Valentre target, returned an impressive intercept of 3.12 g/t Au over 19.35 m, including a higher-grade section of 5.47 g/t Au over 9.6 m.

The Aiguille zone, situated 150 m south of Valentre, also delivered strong results with 8.99 g/t Au over 3.1 m, including 15.5 g/t Au over 1.0 m. These new discoveries highlight the significant exploration upside at Duparquet and the potential to expand the gold resource.

Robust Mineralization Continuity

The 2024 drilling program in the CVD area, comprising 16 holes totaling 4,644 m, has demonstrated a high degree of mineralization continuity. A total of 142 unique mineralized intercepts were encountered, supporting a strong continuity in mineralization within the CVD area.

Notable results include 3.27 g/t Au over 10.2 m, 2.11 g/t Au over 10.15 m, and 2.16 g/t Au over 17.48 m including 4.55 g/t over 4.0 m. These intercepts span a mineralized footprint extending 1,700 m east-west in a corridor approximately 500 m wide, with depth potential remaining largely underexplored.

Significant Resource Expansion Potential

The Duparquet Project boasts a substantial gold resource with 3.44 million ounces in the Measured & Indicated category at 1.55 g/t Au, plus an additional 2.64 million ounces in the Inferred category at 1.62 g/t Au. However, the recent drilling success demonstrates that Duparquet is well-positioned to achieve significant resource growth. First Mining Gold CEO Dan Wilton stated:

“The discovery of these two new gold zones at our Duparquet Gold Project demonstrates the continued success of our exploration program at the project. With more than two full exploration seasons now under our belt at Duparquet, our team is producing exceptional drill results with a degree of predictability supported by a robust geoscience foundation. Duparquet is one of the strongest gold-endowed assets in Canada, strategically located in the heart of the Abitibi gold belt in Quebec."

The discoveries at Miroir and Aiguille, along with the 142 mineralized intercepts in the CVD area, underscore the exceptional potential to expand the gold resource through further drilling.

Aggressive 2025 Exploration Plans

Building on the positive momentum, First Mining is planning increased drilling programs for 2025 to capitalize on the exploration success at Duparquet. The company aims to advance and drill test the potential along strike and at depth at the new Miroir and Aiguille zones. The CVD area will also remain a key focus for resource expansion.

Additionally, drilling will target the highly prospective Buzz target, North Zone, and top regional targets identified in 2024. VP Exploration James Maxwell commented:

"We anticipate expanded outcomes with each additional drill metre by leveraging our foundational geoscience platforms to establish the Duparquet Project as a top-tier gold endowment in the Abitibi Greenstone Belt."

For Investors

First Mining Gold's recent exploration results from the Duparquet Project are highly encouraging for investors. The discovery of two new high-grade gold zones, Miroir and Aiguille, coupled with strong mineralization continuity in the CVD area, underscores the significant upside potential at the project.

With a substantial resource base of 3.44 Moz M&I and 2.64 Moz Inferred already in place, Duparquet is poised for meaningful resource growth through aggressive exploration programs. First Mining's experienced team, strategic location in the Abitibi gold belt, and demonstrated exploration success make it a compelling investment opportunity in the gold sector.

As First Mining continues to advance both the Duparquet and Springpole projects, investors can look forward to a steady stream of news flow and catalysts. With a proven ability to create value, First Mining is well-positioned to unlock the full potential of its gold assets and deliver long-term returns to shareholders.