FF.TO · 2017-09-11 12:00:00

First Mining Finance Announces the Final Set of Phase 1 Drilling Results and Provides Corporate Update

Drill Results

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First Mining Finance Announces the Final Set of Phase 1 Drilling Results and

Provides Corporate Update

September 11, 2017

Vancouver, British Columbia – First Mining Finance Corp. (“First Mining” or the

“Company”) is pleased to announce the seventh and final set of assay results, comprising 26

drill holes from its Phase 1 infill diamond drill program. (See Tables 1 and 2) at its 100% owned

Goldlund Gold Project (“Goldlund ”), located near the town of Sioux Lookout in northwestern

Ontario, Canada.

Drilling Highlights:

 Hole GL-17-103 intersected 52.0 metres of 2.18 grams per tonne gold

o Including 32.0 metres of 3.41 grams per tonne gold

 Hole GL-17-069 intersected 66.0 metres of 1.51 grams per tonne gold

o Including 28.0 metres of 2.03 grams per tonne gold

 Hole GL-17-068 intersected 68.0 metres of 0.91 grams per tonne gold

o Including 42.0 metres of 1.36 grams per tonne gold

 Hole GL-17-041 intersected 60.0 metres of 1.02 grams per tonne gold

o Including 18.0 metres of 2.26 grams per tonne gold

Note: Assaying for the Goldlund 2017 drill programs are being done by SGS Canada Inc. at their laboratories in Red Lake, ON. and

Burnaby, BC. Reported widths are drilled core lengths; true widths are unknown at this time. Assay values are uncut.

The primary goal of th is year’s Phase 1 infill drilling campaign at Goldlund was to upgrade

Inferred resources into the Measured and Indicated categories and to gain further knowledge of

the geology and gold mineralization at Zone 7 and Zone 1 (See Figures 1 and 2). The latest

drilling results yielded significant intersections of gold in 17 of the 26 holes. The Phase 1

program is now complete and comprised a total of 100 holes (24,300 metres) of which 87 holes

intersected intervals of significant gold mineralization.

Based on the success of Phase 1 drilling, First Mining has already commenced a Phase 2 drill

campaign to identify new areas of gold mineralization and to expand the overall resource base

at the Goldlund property. Data collected from the Phase 1 and Phase 2 drilling programs will be

incorporated into the calculation of a new resource estimate, which is expected to be completed

in 2018. The Company will provide more specific guidance for the Goldlund resource estimate

at a later date.

Keith Neumeyer, the Chairman of First Mining, stated, “ We are very encouraged by the assay

results from the Phase 1 drilling at Goldlund and I believe that further drilling with the Phase 2

program has the potential to add ounces to the existing resource and further advance this

project.”

CORPORATE UPDATE

Given the success of the current drilling campaign the Company has elected to dedicate the

majority of its remaining 2017 drilling and exploration budget to the Goldlund Project.

Specifically, the company is continuing with its Phase 2 drilling program at Goldlund targeting

granodiorite hosted gold mineralization that lies outside of the current resource area. Therefore,

given the change in drilling priorities, the company has elected t o defer drilling at the Cameron

project until 2018 and has also reduced the scale of the drilling program at Hope Brook.

At Hope Brook, which is located in the Province of Newfoundland and Labrador, the Company

has commenced on a limited exploration diamond drilling program. Drilling at Hope Brook will

comprise of three holes for 750 metres and will focus on identifying new areas of mineralization

within the Ironbound Hill target which is located approximat ely 25 kilometers from the main

resource area and eight kilometers from Highway 480 . The drilling campaign is scheduled for

completion later this month and assay results are expected to be released as they become

available.

Also, the Company has recently acquired two claim groups , the Satterly Lake Claims (the

“Claims”), totaling 2,368 hectares , are adjacent to the western ed ge of the Company’s

Springpole Gold P roject (“Springpole”). The Claim groups collectively consist of 17 claims

covering gold mineralization drilled by St. Joe Canada in the 1980s. The Claims also surround

the Company’s Horseshoe Island claims in the Red L ake Mining District, 12 kilomet ers

southwest of Springpole.

Furthermore, First Mining is close to completing an updated Preliminary Economic Assessment

(“PEA”) for its wholly owned Springpole Gold Project , located in northwestern Ontario and the

Company expects to release the results of this PEA by the end of the current quarter.

Table 1. Drill Hole Assay Results from Goldlund

Hole ID From (m) To (m) Length (m) Au g/t

GL-17-041 126.0 146.0 20.0 0.48

inc 130.0 136.0 6.0 0.99

and 198.0 200.0 2.0 11.50

and 226.0 286.0 60.0 1.02

inc 226.0 244.0 18.0 2.26

and inc 228.0 230.0 2.0 7.47

and inc 268.0 274.0 6.0 1.85

and inc 272.0 274.0 2.0 3.28

GL-17-054 GL-17-054

GL-17-062 12.0 24.0 12.0 1.44

inc 16.0 18.0 2.0 5.24

GL-17-063 46.0 64.0 18.0 2.44

inc 46.0 48.0 2.0 6.49

and inc 62.0 64.0 2.0 6.65

and 96.0 164.0 68.0 0.28

inc 98.0 100.0 2.0 1.82

and inc 124.0 130.0 6.0 0.99

GL-17-064 45.8 48.0 2.2 2.78

and 78.0 80.0 2.0 3.64

and 122.0 174.0 52.0 0.46

inc 122.0 124.0 2.0 4.64

and inc 172.0 174.0 2.0 2.99

GL-17-041

no significant mineralisation

GL-17-062

GL-17-063

GL-17-064

Table 1 (continued). Drill Hole Assay Results from Goldlund

Hole ID From (m) To (m) Length (m) Au g/t

GL-17-066 8.0 30.0 22.0 0.38

inc 28.0 30.0 2.0 2.10

and 50.0 52.0 2.0 11.07

and 78.0 104.9 26.9 0.50

inc 84.0 86.0 2.0 3.44

GL-17-068 116.0 184.0 68.0 0.91

inc 142.0 184.0 42.0 1.36

and inc 146.0 148.0 2.0 3.79

and inc 174.0 182.0 8.0 4.77

and inc 180.0 182.0 2.0 16.06

GL-17-069 234.0 300.0 66.0 1.51

inc 234.0 262.0 28.0 2.03

and inc 234.0 236.0 2.0 13.93

and inc 260.0 262.0 2.0 5.90

and inc 284.0 300.0 16.0 1.65

and inc 296.0 300.0 4.0 4.19

GL-17-078 GL-17-078

GL-17-079 GL-17-079

GL-17-080 GL-17-080

GL-17-081 GL-17-081

GL-17-086 GL-17-086 45.0 47.0 2.0 0.73

GL-17-087 GL-17-087

GL-17-088 GL-17-088

GL-17-089 29.0 42.7 13.7 0.65

inc 31.0 35.0 4.0 1.30

GL-17-091 76.0 84.0 8.0 0.55

inc 80.0 82.0 2.0 1.16

and 96.0 120.0 24.0 0.33

GL-17-096 16.0 22.0 6.0 0.87

inc 18.0 20.0 2.0 2.05

and 32.0 50.0 18.0 1.02

inc 40.0 42.0 2.0 2.15

GL-17-097 48.0 92.0 44.0 0.82

inc 48.0 68.0 20.0 1.33

and inc 54.0 56.0 2.0 4.23

and inc 60.0 62.0 2.0 6.18

GL-17-098 78.0 98.0 20.0 0.36

inc 80.0 82.0 2.0 2.22

GL-17-103 329.0 381.0 52.0 2.18

inc 329.0 361.0 32.0 3.41

inc 329.0 331.0 2.0 5.76

and inc 345.0 349.0 4.0 16.41

and inc 347.0 348.0 1.0 45.45

and inc 353.0 355.0 2.0 8.23

GL-17-098

GL-17-103

no significant mineralisation

GL-17-089

GL-17-091

GL-17-096

GL-17-097

GL-17-068

GL-17-069

no significant mineralisation

GL-17-066

Assaying for the 2017 Goldlund drill program is being done by SGS at their laboratories in Red Lake, Ontario, and Burnaby, BC.

Prepared samples are analyzed for gold by either Bulk Leach Extractable Gold (BLEG) assay techniques or by lead fusion fire

assay with an atomic absor ption spectrometry (AAS) finish. Multi-element analysis on the mineralized zones is also being

undertaken by two-acid aqua regia digestion with ICP-MS and AES finish.

Figure 1. Plan Map

Table 2. Drill Hole Locations

Hole ID From (m) To (m) Length (m) Au g/t

GL-17-104 361.0 369.0 8.0 1.04

inc 361.0 363.0 2.0 2.06

GL-17-109 GL-17-109

GL-17-110 294.0 400.0 106.0 0.59

inc 308.0 312.0 4.0 2.14

and inc 320.0 322.0 2.0 4.23

and inc 356.0 358.0 2.0 2.07

and inc 396.0 398.0 2.0 3.13

GL-17-111 GL-17-111

GL-17-112 268.0 286.0 18.0 0.65

inc 282.0 284.0 2.0 3.17GL-17-112

GL-17-104

no significant mineralisation

GL-17-110

no significant mineralisation

Hole ID Azimuth ° Dip ° Length (m) UTM East UTM North Section

GL-17-041 0 -90 347.26 545850 5527228 545850E

GL-17-054 0 -90 302 545950 5527225 545950E

GL-17-062 0 -90 74 546000 5527305 546000E

GL-17-063 0 -90 200 546000 5527285 546000E

GL-17-064 0 -90 269 546000 5527265 546000E

GL-17-066 0 -90 164 546050 5527315 546050E

GL-17-068 0 -90 248 546050 5527275 546050E

GL-17-069 0 -90 320 546050 5527255 546050E

GL-17-078 0 -90 251 546100 5527275 546100E

GL-17-079 0 -90 200 546150 5527290 546150E

GL-17-080 0 -90 284 546150 5527270 546150E

GL-17-081 0 -90 275 546150 5527250 546150E

GL-17-086 0 -90 98 546300 5527305 546300E

GL-17-087 0 -90 137 546300 5527285 546300E

GL-17-088 0 -90 230 546300 5527265 546300E

GL-17-089 0 -90 89 546350 5527315 546350E

GL-17-091 0 -90 179 546350 5527275 546350E

GL-17-096 0 -90 101 546400 5527315 546400E

GL-17-097 0 -90 131 546400 5527295 546400E

GL-17-098 0 -90 149 546400 5527275 546400E

GL-17-103 0 -90 491 546050 5527200 546050E

GL-17-104 0 -90 443 546150 5527205 546150E

GL-17-109 0 -90 251 546200 5527280 546200E

GL-17-110 180 -80 431 546200 5527280 546200E

GL-17-111 0 -90 102.5 546250 5527300 546250E

GL-17-112 180 -80 296 546250 5527300 546250E

Figure 2. Cross-Section through the Goldlund Project

Gold observed during the current drilling program at Goldlund occurs bo th as fine

disseminations in quartz vein stockworks and as more discre te larger grains up to 2 mm

spatially associated with pyrite in the quartz veins. Calaverite, a gold telluride mineral , has been

noted occasionally in higher grade intervals on fracture surfaces in the quartz veins. Higher

grade gold distribution in the granodiorite dike is often, but not alw ays, associated with zones of

more intense quartz stock working and potassic alteration. Figure 2 above displays a cross -

section of the geology and gold mineralization with drill holes GL-17-066 to GL-17-069, and GL-

17-103.

QA/QC Procedures

The QA/QC program for the 2017 drilling program at Goldlund consists of the submission of

duplicate samples and the insertion of certified reference materials a nd blanks at regular

intervals. These are inserted at a rate of one standard for every 20 sampl es (5% of total) and

one blank for every 30 samples (3% of total). The standards used in the 2017 program consist

of 5 different gold grades ranging from 1 to 9 g/t, and are sourced from CDN Resource

Laboratories in Langley, BC. Blanks have been sourced locally from barren granitic material.

Field duplicates from quartered core, as well as ‘co arse’ or ‘pulp’ duplicates taken from coarse

reject material or pulverized splits, are also submitted at regular intervals with an insertion rate

of 4% for field du plicates and 4% for coarse or pulp duplicates. Additional selected duplicates

are being submitted for screened metallic fire assay analysis and to an umpire lab for check

assaying. SGS also undertake their own internal coarse and pulp duplicate analysis to ensure

proper sample preparation and equipment calibration.

Dr. Chris Osterman, P.Geo. , CEO of First Mining, is the “qualified person” for the purposes of

National Instrument 43 -101 Standards of Disclosure for Mineral Projects and he has reviewed

and approved the scientific and technical disclosure contained in this news release.

ABOUT THE GOLDLUND PROJECT

The Goldlund deposit is situated within a land package of approximately 280 square kilometres

(28,000 hectares) referred to as the Goldlu nd Gold Project. The Property has a strike-length of

over 50 kilometres in the Wabigoon Subprovince. Goldlund is an Archean lode -gold project

located in northwestern Ontario, approximately 60 kilometres from the township of Dryden. The

claims that make up the land package cover the historic Goldlund and Windward mines.

On January 9, 2017, the Company announced an initial mineral resource estimate for Goldlund.

At a 0.4 g/t Au cut-off grade, the Goldlund deposit contains pit constrained Indicated Resources

of 9.3 million tonnes at 1.87 grams per tonne or 560,000 ounces of gold. At a 0.4 g/t Au cut -off

grade, the Goldlund deposit contains pit constrained Inferred Resources of 40.9 million tonnes

at 1.33 grams per to nne or 1,750,000 o unces of gold. The technical report for this resource

estimate is available under the Company’s SEDAR profile at www.sedar.com, and is also

available on the Company’s website at www.firstminingfinance.com.

ABOUT FIRST MINING FINANCE CORP.

First Mining is a mineral property holding company whose principal business activity is to

acquire high quality mineral assets with a focus in the Americas. The Company currently holds

a portfolio of 25 mineral assets in Canada, Mexico and the Unit ed States with a focus on gold.

Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions

that are expected to be comprised of gold, silver, copper, lead, zinc and nickel.

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