First Mining Announces 2025 Second Quarter Financial Results and Operating Highlights
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
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NEWS RELEASE
First Mining Announces 2025 Second Quarter Financial Results
and Operating Highlights
August 12, 2025 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX:
FF) (OTCQX: FFMGF) (FRANKFURT: FMG) reports its second quarter financial results for the quarter ended
June 30, 2025. The financial statements and management’s discussion and analysis (“MD&A”) are available
on First Mining’s website at www.firstmininggold.com/investors/reports- filings/financials/ and have been
posted under the Company’s profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.
“We are pleased to announce a successful second quarter with very positive exploration results at our
Duparquet Gold Project in Quebec,” stated Dan Wilton, CEO of First Mining. “As we entered the third quarter,
we signed a landmark long -term relationship agreement with M ishkeegogamang First Nation and look
forward to that partnership as we continue to advance the Springpole Gold Project. We are also very proud
of the overwhelming support from new and existing shareholders in our recently completed prospectus
offering and private placement where we were able to raise over $36 million of new capital a nd with demand
well in excess of the amount we closed upon. The proceeds will allow First Mining to make significant progress
at Springpole and Duparquet.”
Q2 2025 Highlights:
• On April 28, 2025, the Company announced the addition of a second drill rig at the Duparquet Gold
Project (“Duparquet Project”) during the month of April to further advance progress on its 18,000m drill
program.
• On May 28, 2025, the Company announced initial drilling results from its 2025 drill program at the
Duparquet Project which confirmed and expanded the known extent of mineralization at the newly
discovered Miroir target and intersected the depth extension of mineralization at the Valentre target.
Highlights include near surface mineralization intercepts from drill hole DU P25-052 that returned 2.77
g/t Au over 11.1m, including 4.36 g/t Au over 6.5m, and drill hole DUP25- 054 that returned 1.41 g/t Au
over 11.9m, including 2.52 g/t Au over 5.25m.
• On July 3, 2025, Mishkeegogamang First Nation and the Company announced that they signed a Long -
Term Relationship Agreement ( the “Agreement”) covering the Springpole Gold Project . The Agreement
sets out a collaborative approach for the development through construction, operations, and closure, in
a manner that respects the environment and provides direct benefits to the First Nation.
• On July 14, 2025, the Company announced the discovery of the “Minuit” zone at the Duparquet Project,
located 75m north of the historical Donchester Mine, that returned multiple significant intercepts in drill
hole DUP25-059, highlighted by 2.25 g/t Au over 12.8m, including 4.08 g/t Au over 4.0m . In addition to
the new discovery, drill hole DUP25- 059 further returned an impressive intersection of 1.21 g/t Au over
60.2m, including 4.1 g/t Au over 4.3m, within Zone 3 of the Project’s current resource area, val idating
large scale continuity of modelled gold mineralization striking east -west at the southern contact of the
Beattie Syenite.
• On July 14, 2025, the Company announced a marketed public offering of up to 27,800,000 units of the
Company (the “Units”) at a price of $0.18 per Unit for aggregate gross proceeds to the Company of up to
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
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$5,004,000. Each Unit will consist of one common share of the Company and one- half of one common
share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will
entitle the holder to acquire one common share of the Company at a price of $0.27 per share at any time
prior to the date which is 36 months following the applicable closing date. In addition, the Company
announced a non-brokered private placement of up to 55,600,000 Units at the Unit Offering Price and up
to 22,730,000 flow-through units (the “FT Units”) at a price of $0.22 per FT Unit for total gross proceeds
of up to $15,008,600.
• On July 22, 2025, the Company closed an upsized marketed public offering of 66,670,000 units for total
gross proceeds of $12,000,600.
• On July 31, 2025, the Company sold its remaining 20% project interest in the Hope Brook Gold Project for
total consideration comprised of $3 million in cash and 7 million common shares of Big Ridge.
• On August 5, 2025, the Company closed an upsized non- brokered offering (the “ Non-Brokered
Offering”) of 95,000,000 units for proceeds of $17,100,000 and 33,350,000 flow -through units for
proceeds of $7,337,000. The total proceeds of the Non-Brokered Offering was $24,437,000.
• As of June 30, 2025, the Company’s cash and marketable securities balance was $5.8 million and the
equity interest in PC Gold Inc. (Pickle Crow Project) was $21.5 million.
About First Mining Gold Corp.
First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold
Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities are
on-going with a final Environmental Impact Statement / Environmental Assessment for the project submitted
in November 2024, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on
the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project
in Ontario and a 30% project interest in the Pickle Crow Gold Project.
First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic
Silver Corp.
ON BEHALF OF FIRST MINING GOLD CORP.
Daniel W. Wilton
Chief Executive Officer and Director
For further information, please contact:
Toll Free: 1 844 306 8827 | Email: [email protected]
Paul Morris | Director, Investor Relations | Email: [email protected]
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”, “plan s”, “projects”, “intends”, “estimates”, “envisages”, “potential”,
“possible”, “strategy”, “goals”, “opportunities”, “objectives”, or variations thereof or stating that certain actions, 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.
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
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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 the closing of the Transaction, First Mining’s exposure to Hope Brook, and First Mining’s plans related to
its Springpole, Duparquet and other projects . All forward -looking statements are based on First Mining's or its
consultants' current beliefs as well as va rious assumptions made by them and information currently available to them.
There can be no assurance that such statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon a number of assumptions and estimates that, while
considered reasonable by the respective parties, are inherently subject to signi ficant business, economic, competitive,
political and social uncertainties and contingencies. Such factors include, without limitation the Company’s ability to
close the Transaction, the Company’s business, operations and financial condition potentially being materially adversely
affected by the outbreak of epidemics, pandemics or other health crises, and by reactions by government and private
actors to such outbreaks; risks to employee health and s afety as a result of the outbreak of epidemics, pandemics or
other health crises, that may result in a slowdown or temporary suspension of operations at some or all of the Company's
mineral properties as well as its head office; fluctuations in the spot an d forward price of gold, silver, base metals or
certain other commodities; fluctuations in the currency markets (such as the Canadian dollar versus the U.S. dollar);
changes in national and local government, legislation, taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave -ins and
flooding); the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships
with and claims by local communities, indigenous populations and other stakeholders; availability and increasing costs
associated with mining inp uts and labour; the speculative nature of mineral exploration and development; title to
properties.; and the additional risks described in the Company’s Annual Information Form for the year ended December
31, 2024 filed with the Canadian securities regulatory authorities under the Company’s SEDAR+ profile at
www.sedarplus.ca, 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 for egoing factors and other uncertainties and potential events. First Mining does not undertake to update
any forward-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.