First Mining GOLD Reports Potential FOR Significant Increase IN Recoveries at Springpole GOLD Project
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FIRST MINING GOLD REPORTS POTENTIAL FOR
SIGNIFICANT INCREASE IN RECOVERIES AT
SPRINGPOLE GOLD PROJECT
February 19, 2019
VANCOUVER, BC, CANADA – First Mining Gold Corp. (“First Mining” or the “Company”)
(TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce positive interim
metallurgical test res ults for its Springpole Gold Project (“Springpole”) in northwestern Ontario,
Canada, that indicate the potent ial for significant increases in the ultimate recovery of both gold
and silver from the project.
With oversight provided by M3 Engineering & Techno logy Corp. (“M3”) in Tucson, Arizona,
flotation test work completed by ALS Metallurgy (“ALS”) in Kamloops, British Columbia achieved
total recoveries of 90.6% for gold and 95.1% for silver through flotation followed by separate
cyanide leaching of both concentrate and flotation tails.
This represents a 13.2% increase in gold recovery and an 11.9% increase in silver recovery over
the Whole -Ore Carbon -in-Pulp (“Whole -Ore CIP”) flowsheet presented in the independent
Preliminary Economic Assessment (“PEA”) technical report for Springpole1 that was prepared by
SRK Consulting (Canada) Inc. in accordance with National In strument 43 -101 Standards of
Disclosure for Mineral Projects (“NI 43-101”), which demonstrated recovery levels of 80% for gold
and 85% for silver.2
Dan Wilton, First Mining’s Chief Executive Officer, said, “The increased recoveries demonstrated
by these test results are very exciting and could add significantly to the robustness of Springpole,
while at the same time improving our ability to engineer the project to minimize its environmental
impact. Springpole is one of the largest undeveloped gold projects in Ontario and this potential
increase in recoveries points to a strong potential for increased annual production, further moving
Springpole into “Tier I” project status. First Mining will continue to advance this critical
1 The technical report for the Springpole PEA, which is titled “Preliminary Economic Assessment Update for the
Springpole Gold Project, Ontario, Canada” and is dated October 16, 2017, can be found under First Mining’s
SEDAR profile at www.sedar.com, and on First Mining’s website at www.firstmininggold.com.
2 See cautionary note on the next page of this news release.
metallurgical program through f urther optimization and trade-off studies as we move Springpole
through the Pre-Feasibility process.”
These interim results were achieved in flotat ion test #17 of the ALS program which first ground
the original ore feed to a p80 of 145 microns (“ μm”). Thi s feed produced a rougher flotation
concentrate at a mass pull of 23.9%, which was then cleaned to produce a cleaner concentrate
at a mass pull of 12.4% (see Table 1 below). This cleaner concentrate was reground to a size of
17 μm (P80) prior to cyanide leaching. The cleaner flotation tails were combined with the rougher
tails for cyanide leaching.
One of the key discoveries of this metallurgical testing program was the consistently high
recoveries achieved by leaching the flotation tails, even at relatively coarse grind sizes. Leaching
the floatation tails achieved greater than 88% recoveries across all grind sizes tested. ALS also
completed other tests in which the flotation concentrates were reground to 23μm and 24μm (P80),
and these tests demonstrated total gold recoveries of 89.4% and 88.7%, respectively. A detailed
list of the test results are detailed in Table 2 below.
This proposed flowsheet by M3 for Springpole is similar to other flowsheets that M3 has
developed, where the concentrate is re -introduced into the flotation tails after fine grinding,
whereas at Springpole, First Mining will continue to investigate maintaining a separate leach
circuit and tailings stream for the higher-sulfur flotation concentrate. For Springpole, First Mining
will investigate potential environmental advantages to maintaining a separate leach circuit and
tails management facility for the concentrate from the tails products.
A flotation-centered flowsheet offers significan t advantages over the Whole-ore CIP flowsheet
including generation of a much smaller volume of material requiring ultrafine grinding (< 20 m)
for improved liberation, and sequestering up to 85% of total sulphides in a separate, much smaller
tailings management facility.
Additional test work is nearing completion , including investigations into the possibility of pre -
flotation removal of silica gangue prior to flotation. In particular, micas constitute over 30% of the
whole ore feed and QEMscan analysis indicates that there is little association of gold or gold -
bearing minerals with the micas. Removal of a significant proportion of micas, if successful, may
allow for downsizing of the flotation and tails leaching plants as well as cost savings for reagents
used in both the flotation and leaching processes.
The next stage of metallurgical testing will involve further investigation into flotation, fine and
ultrafine grinding alternatives , and potential pre -flotation removal of silicate gangue and will
eventually lead to locked cycle metallurgical testing to confirm the final processing flowsheet. This
final flowsheet will be selected after completing trade -off studies on capital and operat ing costs
prior to commencing a Pre -Feasibility Study for Springpole. G iven the timeframe necessary to
complete such a study, First Mining intends to complete an updated Preliminary Economic
Assessment for Springpole to reflect a flotation and fine grindi ng-based flowsheet in order to
assess the economic impact on the project of significantly higher recoveries and commensurate
changes in capital and operating costs. The 2017 Springpole PEA generated a post -tax NPV5%
of US$792 million, and a post -tax IRR o f 26.2%, using 80% gold recov eries and 85% silver
recoveries.
Readers are cautioned that the PEA is preliminary in nature, it includes inferred mineral resources
that are considered too speculative geologically to have the economic considerations applied to
them that would enable them to be categorized as mineral reserves, and there is no certainty that
the PEA will be realized. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Actual results may vary, perhaps m aterially. The projections,
forecasts and estimates presented in the PEA constitute forward-looking statements and readers
are urged not to place undue reliance on such forward-looking statements. Additional cautionary
and forward-looking statement information is detailed at the end of this news release.
Summary tables presenting the ALS results are presented below:
Table 1: Flotation Results
Test Number Product
Assay Recovery Mass Pull
S (%) Ag (g/t) Au (g/t) S (%) Ag (g/t) Au (g/t) (%)
KM5724-001R
Feed 2.80 4.38 1.08 100.00 100.00 100.00
Rougher
Concentrate 11.60 16.90 3.51 93.20 84.20 74.40 22.90
Rougher Tails 0.30 0.90 0.36 6.80 15.80 25.60
KM5724-011CL
Feed 2.96 6.00 1.08 100.00 100.00 100.00
Cleaner
Concentrate 21.20 32.00 5.89 81.10 64.80 61.80 11.30
Rougher
Concentrate 11.80 19.00 3.50 84.00 71.80 68.60 21.10
1st Cleaner Tail 0.87 4.00 0.74 2.90 7.00 6.70
Tails 0.60 2.00 0.43 16.00 28.20 31.40
KM5724-017CL
Feed 2.69 7.00 1.12 100.00 100.00 100.00
Cleaner
Concentrate 18.60 30.00 6.07 85.60 55.50 66.70 12.40
Rougher
Concentrate 10.00 18.00 3.62 89.00 65.90 77.00 23.90
1st Cleaner Tail 0.79 6.00 1.00 3.40 10.40 10.30 11.50
Tails 0.39 3.00 0.34 11.00 34.10 23.00 76.10
KM5724-018R
Feed 2.94 7.00 1.37 100.00 100.00 100.00
Rougher
Concentrate 16.50 25.00 5.79 70.60 47.30 62.50 12.60
Rougher Tails 0.99 4.00 0.50 29.40 52.70 37.50 87.40
Table 2: Cyanide Leaching Results
Test Number & Name Sample Identification
Leach Time % Recovery Overall
Recovery
(hrs) Au (%) Ag (%) Au (%) Ag (%)
02 – Whole Ore Leach Master Composite @
71μm
2 51.7 74.3
6 73.1 84.7
24 80.1 88.1
48 82.3 89.3
03 – Test #1 Conc. Rougher Conc. @ 23μm
2 61.5 71.7
6 67.5 82.5
24 86.4 87.8
48 89.1 89.8
04 – Test #1 Tail Rougher Tails @ 145μm
2 43.6 77.9
6 64.1 84.1
24 81.0 86.2
48 90.1 87.4
Test #1 Rougher % Recovery 74.4 84.2 89.4 89.4
06 – Test #5 Conc. Rougher Conc. @ 120μm
2 48.4 68.5
6 59.7 77.6
24 72.5 80.3
48 75.6 81.4
07 – Test #5 Tail Rougher Tails @ 145μm
2 62.9 73.9
6 84.8 81.5
24 90.3 85.9
48 91.6 87.9
Test #5 Rougher % Recovery 71.7 83.1 80.1 82.5
09 – Test #8 Conc. Rougher Conc. @ 29μm
2 52.0 69.3
6 61.1 80.0
24 76.1 85.9
48 80.2 88.7
10 – Test #8 Tail Rougher Tails @ 145μm
2 53.4 80.0
6 54.2 82.8
24 63.2 84.9
48 88.7 87.8
Test Number & Name Sample Identification
Leach Time % Recovery Overall
Recovery
(hrs) Au (%) Ag (%) Au (%) Ag (%)
Test #8 Rougher % Recovery 76.5 75.6 82.2 88.5
13 – Test #11 Conc. Cleaner Conc. @ 24μm
2 50.7 66.2
6 63.9 83.1
24 82.1 89.5
48 85.8 91.4
15 – Test #11 Tail
Combined Rougher and
Cleaner Tails @ 145μm &
24μm, respectively
2 65.6 75.3
6 69.8 83.1
24 87.2 84.9
48 91.8 87.9
Test #11 Cleaner % Recovery 61.8 64.8 88.7 90.2
14 – Test #12 Conc. Rougher Conc. @ 26μm
2 53.0 72.4
6 68.4 84.0
24 83.4 88.9
48 86.3 90.2
16 – Test #12 Tail Rougher Tails @ 189μm
2 62.8 76.0
6 71.1 83.3
24 75.8 87.3
48 88.0 87.9
Test #12 Rougher % Recovery 67.9 71.5 86.8 89.5
19 – Test #17 Conc. Cleaner Conc. @ 17μm
2 59.5 74.9
6 70.5 82.7
24 85.7 90.7
48 91.2 93.9
20 – Test #17 Tail
Combined Rougher and
Cleaner Tails @ 145μm &
17μm, respectively
2 58.8 82.3
6 73.5 89.7
24 84.9 95.2
48 89.6 96.6
Test #17 Cleaner % Recovery 66.7 55.5 90.6 95.1
QUALIFIED PERSON
Dr. Chris Osterman, P.Geo., Chief Operating Officer of First Mining, is a “qualified person” as
defined by NI 43 -101 and he has reviewed and approved the s cientific and technical disclosure
contained in this news release.
ABOUT FIRST MINING GOLD CORP.
First Mining Gold Corp. is an emerging development company with a diversified portfolio of gold
projects in North America. Having assembled a large resource base of seven million ounces of
gold in the Measured and Indicated categories and five million ounces of gold in the Inferred
category in mining friendly jurisdictions of eastern Canada, First Mining is now focused on
advancing its assets towards production . The Company currently holds a portfolio of 24 mineral
assets in Canada, Mexico and the United States.
For further information, please contact Frank Lagiglia, Investor Relations, at 604 -639-8824, or
visit our website at www.firstmininggold.com.
ON BEHALF OF FIRST MINING GOLD CORP.
“Daniel W. Wilton”
Daniel W. Wilton
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward -looking information” and "forward -looking statements”
(collectively "forward-looking statements”) within the meaning of applicable Canadian and United States
securities legislation including the United States Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made as of the date of this news release. Forward-looking statements are
frequently, but not always, identified by words such as "expects”, "anticipates”, "believes”, “plans”,
“projects”, "intends”, "estimates”, “envisages”, "potentia l”, "possible”, “strategy”, “goals”, “objectives”, or
variations thereof or stating that certain act ions, events or results "may", "could", "would", "might" or "will"
be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect
current estimates, predictions, expectations or beliefs regarding future events and include, but are not
limited to, statements with respect to: (i) the potential to significantly increase the recoveries of gold and
silver from Springpole and t he potential for an increase in annual production from the project as a result;
(ii) the PEA representing a viable development option for Springpole; (iii) estimates of net cash flow, net
present value and economic returns from an operating mine constructed at Springpole; (iv) investigation of
opportunities to improve the economics of the proposed mine and the success of any such opportunities;
and (v); and the potential for significant downsizing of the flotation and tails leaching plants and costs
savings associated with the reagents used if First Mining is able to remove a significant portion of the micas
from the whole ore feed. All forward -looking statements are based on First Mining's or its consultants'
current beliefs as well as various assumptions made by them and information currently available to
them. The most significant assumptions are set forth above, but generally these assumptions include: (i )
the presence of and continuity of metals at Springpole at estimated grades; (ii) the geotechnical and
metallurgical characteristics of rock conforming to sampled results, including the quantities of water and the
quality of the water that must be diverte d or treated during mining operations; (iii) the capacities and
durability of various machinery and equipment; (iv) the availability of personnel, machinery and equipment
at estimated prices and within the estimated delivery times; (v) currency exchange rates; (vi) metals sales
prices and exchange rate assumed; (vii) appropriate discount rates applied to the cash flows in the
economic analysis; (viii) tax rates and royalty rates applicable to the proposed mining operation; (ix) the
availability of acceptable financing under assumed structure and costs; (x) metallurgical performance; (xi)
reasonable contingency requirements; (xii) success in realizing proposed operations; (xiii) receipt of permits
and other regulatory approvals on acceptable terms; and (xiv) the fulfillment of environmental assessment
commitments and arrangements with local communities. Although the Company’s management considers
these assumptions to be reasonable based on information currently available to it, they may prove to be
incorrect. Many forward-looking statements are made assuming the correctness of other forward looking
statements, such as statements of net present value and internal rates of return, which are based on most
of the other forward -looking statements and assumptions h erein. The cost information is also prepared
using current values, but the time for incurring the c osts will be in the future and it is assumed costs will
remain stable over the relevant period.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and
specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not
be achieved or that assumptions do not reflect future experience. We caution readers not to plac e undue
reliance on these forward -looking statements as a number of important factors could cause th e actual
outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates
assumptions and intentions expressed in s uch forward-looking statements. These risk factors may be
generally stated as the risk that the assumptions and estimates expressed above do not occur as forecast,
but specifically include, without limitation: (i) risks relating to variations in the miner al content within the
material identified as mineral resources from that predicted; (ii) general ris ks related to exploration drilling
programs; (iii) developments in world metals markets; (iv) risks relating to fluctuations in the Canadian dollar
relative to the US dollar; (v) management’s discretion to refocus the Company’s exploration efforts and/or
alter the Company’s short and long term business plans; and (vi) the additional risks described in the
Company’s Annual Information Form for the year ended D ecember 31, 2017 filed with the Canadian
securities regulatory authorities under the Company’s SEDAR profile at www.sedar.com, and in the
Company’s Annual Report on Form 40-F filed with the SEC on EDGAR.
First Mining cautions that the foregoing list of factors that may affect future results is not exhaustive. When
relying on our forward -looking statements to make decisions with respect to First Mining, investors and
others should carefully consider the foregoing fact ors and other uncertainties and potential events. First
Mining does not undertake to update any for ward-looking statement, whether written or oral, that may be
made from time to time by the Company or on our behalf, except as required by law.
Cautionary Note to United States Investors
This news release has been prepared in accordance with the requirements of the securities laws in effect in
Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource
and reserve estimates included in this news release have been prepared in accordance with NI 43-101 and
the Canadian Institute of Mining, Metallurgy, and Petroleum 2014 Definition Standards on Mineral Resources
and Mineral Reserves. NI 43 -101 is a rule developed by the Canadian Securities Adm inistrators which
establishes standards for all public disclosure an issuer makes of scientific and technical information
concerning mineral projects. Canadian standards, including NI 43 -101, differ significantly from the
requirements of the United States Securities and Exchange Commission ("SEC”), and mineral resource and
reserve information contained herein may not be comparable to similar information disclosed by U.S.
companies. In particular, and without limiting the generality of the foregoing, the t erm "resource” does not
equate to the term "reserves”. Under U.S. standards, mineralization may not be classified as a "reserve”
unless the determination has been made that the mineralization could be economically and legally produced
or extracted at the time the reserve determination is made. The SEC's disclosure standards normally do not
permit the inclusion of information concerning "measured mineral resources”, "indicated mineral resources”
or "inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that
do not constitute "reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not
to assume that any part or all of mineral deposits in these categories will ever be converted int o reserves.
U.S. investors should also understand that "inferred mineral resources” have a great amount of uncertainty
as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed
that all or any part of an "inferred mineral resource” will ever be upgraded to a higher category. Under
Canadian rules, estimated "inferred mineral resources” may not form the basis of feasibility or pre-feasibility
studies except in rare cases. Investors are cautioned not to as sume that all or any part of an "inferred
mineral resource” exists or is economically or legally mineable. Disclosure of "contained ounces” in a
resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits
issuers to report mineralization that does not constitute "reserves” by SEC standards as in -place tonnage
and grade without reference to unit measures. The requirements of NI 43-101 for identification of "reserves”
are also not the same as those of the SEC, and res erves reported by the Company in compliance with NI
43-101 may not qualify as "reserves” under SEC standards. Accordingly, information concerning mineral
deposits set forth herein may not be comparable with information made public by companies that report in
accordance with U.S. standards.