First Mining Confirms New Area of Mineralization at Central Duparquet and Announces Management Changes
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NEWS RELEASE
First Mining Confirms New Area of Mineralization at Central Duparquet and
Announces Management Changes
• Exploration Between Central Duparquet and Dumico Resource Areas Returns 1.71 g/t Au over 8.9 m,
Confirming Strike Continuity
• Central Duparquet High Grade Zone Returns 2.73 g/t Au over 6.15 m, Unlocking Mineralization
Potential at Depth
January 9, 2024 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX:
FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the expansion of multiple gold zone s
from the drilling of key targets at the Duparquet Gold Project (“Duparquet Project” or the “Project”)
located in Quebec, Canada. First Mining has completed 17 exploration drill holes totalling 6,966 m in its
2023 exploration drilling campaign which focused on initial drill testing of key targets across the project.
A new are a of mineralization continuity was identified at Central Duparquet (“ Valentre Target”) which
returned 1.71 g/t Au over 8.9 m, including 5.11 g/t Au over 1 m, and 1.29 g/t Au over 7.6 m, including 3.3
g/t Au over 1.8 m in drill hole DUP23-006. This is an exciting target for First Mining as it demonstrates the
potential continuity of mineralization between the Central Duparquet and the Dumico deposits that had
never been drill tested prior to First Mining’s 2023 drilling campaign.
In addition, drilling at the CDHG Zone in the area of the historical Central Duparquet development
returned 1.78 g/t Au over 4 m, 2.73 g/t Au over 6. 15 m, including 6.98 g/t Au over 0.7 m, and including
10.6 g/t Au over 0.65 m, in drill hole DUP23 -005. These results validate the resource wireframe and
support the extension of a higher-grade zone with mineralization continuity at depth.
“These latest drill holes are building momentum in the untested upside potential that the Duparquet Gold
Project has to offer ,” stated Dan Wilton, CEO of First Mining . “ With a positive PEA announced in
September 2023 and continued success in our team’s exploration strategy , First Mining is continuing to
demonstrate the resource growth potential at this critical strategic project in the centre of the prolific
Abitibi Greenstone Belt.”
2023 Drilling Highlights:
Table 1: Selected Significant Drill Intercept Results from Central Duparquet
Hole ID From (m) To (m) Length
(m)
Grade (Au
g/t)
Target
DUP23-005 292 296 4 1.78 CDHG Zone
DUP23-005 306 312.15 6.15 2.73 CDHG Zone
DUP23-006 304.6 313.5 8.9 1.71 Valentre Target
DUP23-006 353.9 355.9 2 2.57 Valentre Target
DUP23-006 363.8 371.4 7.6 1.29 Valentre Target
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DUP23-007 115 119.5 4.5 1.34 CDHG Zone Extension
DUP23-008 235 238 3 2.04 CDHG Zone
DUP23-008 243 254 11 2.83 CDHG Zone
*Reported intervals are drilled core lengths (true widths are estimated at 75-85% of the core length interval); assay
values are uncut
2023 Duparquet Drilling Program
First Mining commenced a foundational drilling program in May 2023 with a campaign that is focusing on
the advancement of newly defined targets , as well as validating and expanding on resource growth and
optimization opportunities.
Results returned from the exploration drill holes are continuing to demonstrate that this project has
significant potential across the wholly-owned land tenure, through the confirmation of the new zones and
targets at Central Duparquet , as well as the previously announced Buzz Zone (See September 5, 2 023
news release).
Drilling at Central Duparquet focused on advancing geological characterization and the understanding of
a higher grade trend (“CDHG Zone”) and testing its continuity at depth as well as drill testing a new target
(“Valentre”) that could establish continuity between the Central Duparquet and Dumico resource pit
designs as defined in the 2023 PEA (Figure 1).
Figure 1: Plan View of the Central Duparquet Targets in Relation to R esource Wireframes and Resource Pit Designs (Section in
Figure 2)
The CDHG Zone includes drill holes DUP23-005, DUP23-007 and DUP23-008 which were drilled to test the
steep easterly plunge of the Central Duparquet mineralization below the current resource pit design. An
area of anomalous gold mineralization was identified over approximately 60 metres in drill hole DUP23-
005 that included intersections of 1.78 g/t Au over 4.0 m and 2.73 g/t Au over 6.15 m, including 6.98 g/t
Au over 0.7 m and 10.60 g/t Au over 0.65 m. Mineralization is hosted within both the syenite and at the
Legend
Gold M iner aliza�on >
0.3 g/t
Histor ic al Gold
M iner aliza�on > 0.3 g/t
Open Pit Design
Dr ill T r ac e 2023
Histor ic al Dr ill T r ac e
Res ource Wi refra me
Resource Expansion
Opportunity
Central Duparquet
Dumico
DUP23-006
DUP23-007
DUP23-008
DUP23-005
CDHG ZONE
N
VALENTRE
TARGET
A
B
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contact with an argillitic unit, which may represent an affinity with a shear zone. Alteration includes areas
of patchy chlorite and hematite, with limited sulphide mineralization occurring throughout.
Drill hole DUP23-007 targeted and validated a depth extension of the CDHG Z one and returned 1.34 g/t
Au over 4.5 m hosted within syenite, as well as 1.01 g/t Au over 3.8 m and 1.16 g/t Au over 5.1 m hosted
within sheared and altered basalt units interbedded with syenites.
Drill hole DUP23-008 was focused on testing the extent of mineralization from surface and at depth, as
well as the strike continuity of mineralization intercepted in DUP23-006, located 350 m to the east. Drill
results for DUP23-008 returned 2.04 g/t Au over 3 m, and 2.83 g/t Au over 11 m, including 4.40 g/t Au
over 3 m, and extends the mineralization which is hosted within a brecciated syenite-basalt contact with
chlorite and silica alteration.
Drill holes DUP23-005, DUP23-007 and DUP23-008 were successful in confirming the depth extension of
the current wireframes and interpolated block model to a depth of approximately 400 m below the
surface, which supports further follow-up opportunities for unlocking higher-grade trends at depth (Figure
2).
Figure 2: Drilling results from holes DUP23-005, DUP23-007 and DUP23-008 confirm wireframe extension and unlock follow-up
opportunities for higher-grade trends at depth (Section line illustrated in Figure 1).
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The Valentre target is located between the Central Duparquet and Dumico resource pit shells and focuses
on the possible continuity of mineralization that was historically untested due to prior ownership
boundaries. First Mining’s maiden hole at the Vale ntre target, DUP 23-006, aimed to test an open
exploration opportunity of 175 m between these resource areas . Significant gold mineralization was
intersected in multiple intercepts along the length of DUP23-006, confirming a potential for continuity of
the wireframes along strike in the area at a relatively shallow depth. The most significant intercept
returned includes 2.07 g/t Au over 2.5 m located immediately to the northwest of the Dumico pit design,
followed further down the hole by 1.82 g/t Au over 3.0 m. The host rock is syenite with silicification and
local pyrite mineralization. The best intersection along strike and immediately below the wireframes from
Central Duparquet included 1.71 g/t Au over 8.9 m, including 5.11 g/t Au over 1.0 m. This mineralization
is typical of that which hosts the bulk of the current mineral resource located to the east of the Central
Duparquet target, which includes a syenite -associated lath to megacrystic porphyry, with local units of
gabbro. Drill hole DUP23-006 confirms that the mineralization is continuous and present in several
horizons between the most easterly resource pit shells from the Duparquet Gold Project’s 2023 PEA
(Figure 3).
Figure 3: Results from maiden drill hole DUP23-006 confirm extension of multiple zones of mineralization at the Valentre Target,
located between the Central Duparquet and Dumico resource pit designs
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A total of 1,923 m of d rilling was completed at the Central Duparquet Target in four holes. Significant
assay results from the Central Duparquet target are reported in Table 2, and drill locations are provided
in Table 3.
The drilling results returned from the Central Duparquet Target validate the existing resource model and
support the delineation and advancement of higher -grade trends. F urther drilling to demonstrate
continuity along strike and at depth between the Central Duparquet and Dumico pit designs is
recommended, as this area has the potential to holistically add meaningful ounces to the global
Duparquet Gold Project (Figure 4).
Figure 4: Plan view highlighting drill holes DUP23 -005, DUP23- 006, DUP23- 007 and DUP23-008 alongside previously drilled
significant intercepts and the extent of known and potential mineralization at the Central Duparquet Target
“We are looking forward to further the assay results from our 2023 drilling campaign and launching into
the next round of drill targeting for 2024, where the focus will be to further advance key targets identified
through the 2023 campaign,” stated James Maxwell, First Mining’s Vice President of Exploration.
Table 2: Significant Drill Intercepts, Duparquet Gold Project
Hole ID From
(m) To (m) Length (m) Grade (Au g/t)
DUP23-005 292 296 4 1.78
DUP23-005 306 312.15 6.15 2.73
DUP23-005 inc. 310.3 311 0.7 6.98
DUP23-005 and inc. 311.5 312.15 0.65 10.60
DUP23-006 79.5 82 2.5 2.07
DUP23-006 inc. 80 80.5 0.5 5.96
DUP23-006 118 121 3 1.82
DUP23-006
304.6 313.5 8.9 1.71
DUP23-006 inc. 305.5 306.5 1 5.11
DUP23-006
353.9 355.9 2 2.57
DUP23-006 inc. 353.9 354.9 1 4.72
DUP23-006
363.8 371.4 7.6 1.29
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Hole ID From
(m) To (m) Length (m) Grade (Au g/t)
DUP23-006 inc. 369.6 371.4 1.8 3.33
DUP23-007 115 119.5 4.5 1.34
DUP23-007 161.5 165.3 3.8 1.01
DUP23-007 418.5 423.6 5.1 1.16
DUP23-008 235 238 3 2.04
DUP23-008 243 254 11 2.83
DUP23-008 inc. 250 253 3 4.40
*Reported intervals are drilled core lengths (true widths are estimated at 75-85% of the core length interval); assay
values are uncut
Table 3: Drill Hole Locations, Duparquet Gold Project
Hole ID Azimuth (°) Dip (°) Length (m) Easting Northing
DUP23-005 175 -60 429 633087 5374078
DUP23-006 180 -45 459 633507 5374089
DUP23-007 180 -68 660 633153 5374095
DUP23-008 180 -45 375 633153 5374095
Note: Collar coordinates in UTM NAD 83 z17
2024 Duparquet Exploration Program Outlook
The 2023 drilling and field campaigns at the Duparquet Gold project have provided the First Mining
exploration team with a strong foundatio nal understanding of the geoscience, data gaps and
opportunities for exploration advancement. The Company is aiming to complete its Phase 2 drilling
campaign this winter while actively advancing the drilling strategy for a n additional Phase 3 program
alongside airborne geophysics and LiDAR survey programs in areas of opportunity for data resolution
enhancement.
About the Duparquet Gold Project
The Duparquet Project is geologically situated in the southern part of the Abitibi Greenstone Belt and is
geographically located approximately 50 km north of the city of Rouyn-Noranda. The Duparquet Project
totals ~5,800 hectares focused along an area of 19 kilometres of strike length along the prolific Destor-
Porcupine Fault Zone, along with numerous mineralized splays and influential secondary lineaments. The
Duparquet Project includes the past -producing Beattie, Donchester and Duquesne mines and as well as
the Central Duparquet , Dumico and Pitt Gold deposits. In 2023 , First Mining completed a positive
Preliminary Economic Assessment (PEA) for the project that will guide phased optimization and
advancement moving forward.
Analytical Laboratory and QA/QC Procedures
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All sampling completed by First Mining within its exploration programs is subject to a Company standard
of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified
reference materials, blank materials and a level of duplicate analysis. Core samples from the 2023 drilling
program at Duparquet were sent to AGAT Laboratories, with sample preparation in Val d’Or and analysis
in Thunder Bay , where they were processed for gold analysis by 50 gram fire assay with an atomic
absorption finish. Samples from selected holes were sent to AGAT Laboratories in Calgary, Alberta, for
multi-element analysis (including silver) by inductively coupled plasma (ICP) method with a four acid
digest. AGAT Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and
meets assay requirements outlined for NI 43-101.
Senior Management Changes
Jeff Reinson, the Company’s Chief Operating Officer, will be leaving his role at First Mining effective
January 19, 2024. Following Mr. Reinson’s departure, James Maxwell will assume the role of Vice
President, Exploration & Project Operations, reporting directly to the CEO , and will take overall
responsibility for operations at Springpole, Duparquet and the Company’s other projects. In addition,
Steve Lines will assume the role of Vice President, Sustainability, reporting directly to the CEO.
“We would like to thank Jeff for his service and contributions to First Mining,” stated Dan Wilton, CEO of
First Mining. “He has played a very important role in advancing our Springpole and Duparquet projects
and we wish him well in his future endeavours. We are also delighted to have James and Steve move into
new roles that recognize their talent and leadership. Over the past couple of years, James has
demonstrated outstanding leadership, collaboration and team -building while driving a culture of safety
and accountability while leading our exploration team, and Steve has done an outstanding job in driving
the Springpole EA and community relations process and will continue to have a very important
community-facing role in our advancement of Duparquet. We believe that this realignment both
recognizes the talent we have in our organization today and streamlines our management structure, and
that these changes leave us in a very good position to continue to make progress on our key strategic
imperatives in 2024, which will ultimately allow the significant value in our strategic gold assets to be
realized in the market.”
Qualified Person
Louis Martin, P.Geo., Senior Geologic Consultant of First Mining, is a “Qualified Person” for the purposes
of NI 43-101 Standards of Disclosure for Mineral Projects , and has reviewed and approved the scientific
and technical disclosure contained in this news release.
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 draft Environmental Impact Statement (“EIS”) for the project published in June 2022,
and the Duparquet 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
portfolio of gold project interests including the Pickle Crow Gold Project (being advanced in partnership
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with Firefly Metals Ltd.), the Hope Brook Gold Project (being advanced in partnership with Big Ridge Gold
Corp.), and a large equity interest in Treasury Metals Inc.
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”, “plans”, “projects”, “ intends”, “estimates”, “envisages”,
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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.
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. 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. 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 significant business, economic, competitive, political and social uncertainties and contingencies. Such
factors include, without limitation the Company’s business, operations and financial condition potentially being
materially adversely affected by the outbreak of epidemics, pandemics or other health crises, such as COVID-19, and
by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of
the outbreak of epidemics, pandemics or other health crises, such as COVID -19, 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 and 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 inputs 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, 2022 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.