First Mining Finance Files Ni 43-101 Resource Estimate FOR Goldlund GOLD Project, Completes Acquisition of Ontario and Québec Claims and Grants Stock Options
FF: TSXV
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FIRST MINING FINANCE FILES NI 43-101 RESOURCE ESTIMATE FOR
GOLDLUND GOLD PROJECT, COMPLETES ACQUISITION OF
ONTARIO AND QUÉBEC CLAIMS AND GRANTS STOCK OPTIONS
February 10, 2017
VANCOUVER, BC, CANADA – First Mi ning Finance Corp. (“First Mining” or the
“Company”) is pleased to announce that, further to First Mining’s news release dated January
9, 2017, the Company has filed on SEDAR an independent NI 43-101 technical report outlining
the updated resource estimate for its Goldlund Gold Project located in the Patricia and Kenora
Mining Division of Ontario. The report, which is titled “Technical Report and Resource
Estimation Update on the Goldlund Project” and dated January 23, 2017, can be found under
the Company’s SEDAR profile at www.sedar.com, and on the Company’s website.
In addition, f urther to the Company’s January 24, 2017 news release, First Mining has
completed the acquisitions of certain claims in Ontario and Québec.
First Mining has acquired five unpatented mining claims from GoldON Resources Ltd. that are
located near Pickle Lake, Ontario in exchange for 200,000 First Mining shares (the “GoldON
Transaction”). In addition, First Mining has acquired eighteen mining claims located in the
Township of Duparquet, Québec from a private individual (the “ Duparquet Vendor ”) in
exchange for $250,000 and 2,500,000 First Mining shares (the “Central Duparquet
Transaction”).
Pricing for each transaction was based on the 5 -day VWAP of First Mining’s shares as of
January 24, 2017 , being $0.84 . The deemed value of the GoldON Transaction is
approximately $168 ,000, and the deemed value of the Central Duparquet Transaction is
approximately $2,350,000.
The shares issued in connection with the two transactions are subject to a statutory resale
restriction in Canada for a four-month period from the closing date. In addition, the Duparquet
Vendor has agreed to further provisions limiting the number of shares he may sell per month
after the statutory resale restriction period has passed, unless the sale is in a single block to a
purchaser acceptable to First Mining.
Keith Neumeyer, Chairman of First Mining, stated “We are very pleased to have acquired the
additional Pickle Lake and Central Duparquet claims, as it furthers our efforts in consolidating
the land packages in the regions we are active in, which should ultimately benefit each of our
projects.”
Lastly, First Mining has granted 10,630,000 stock options to Directors, officers, employees and
consultants of the Company under the terms of its Stock Option Plan. The stock options have
an exercise price of $0.85 per share and are exercisable for a period of five years, with certain
options subject to vesting provisions in accordance with the rules and policies of the TSX
Venture Exchange.
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 United 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.
For further information, please contact Patrick Donnelly, President at 604-639-8854, or Derek
Iwanaka, Vice President, Investor Relations at 604 -639-8824, or visit our websi te at
www.firstminingfinance.com.
ON BEHALF OF FIRST MINING FINANCE CORP.
“Keith Neumeyer”
Keith Neumeyer
Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.