First Mining Discovers New High-Grade Gold Occurrences at its Birch-Uchi Greenstone Belt Project
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 1 -
NEWS RELEASE
First Mining Discovers New High-Grade Gold Occurrences
at its Birch-Uchi Greenstone Belt Project
December 5, 2023 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”)
(TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the discovery of new gold
occurrences confirmed from rock sampling assay results from its 2023 exploration program at its Birch-
Uchi Greenstone Belt Project (“BUGB Project” or the “Project”) located near its flagship Springpole Gold
Project (“Springpole”) in northwestern Ontario, Canada.
Exploration assay results have identified a new near- surface and high priority structural setting for gold
mineralization approximately 375 metres from the recently drill tested Saddle target which returned 0.92
g/t Au over 114 m (see news release dated July 6, 2023). Rock samples assay ed at the now-established
Challenger target are encouraging, as highlighted by the discovery of two new mineralized occurrences
approximately 60 m apart, where grab samples have returned gold values including 25.60 g/t Au, 7.10 g/t
Au and 4.42 g/t Au (Figure 1). Further gold assays associated with the Challenger target now define an
interpreted east-west trending gold mineralized shear structure over an approximately 60 m trend, which
remains open both along strike and at depth. The Challenger target and recently tested Saddle target are
located approximately 12 km southwest of Springpole.
"This discovery of a new zone of outcropping gold mineralization is a significant advancement in our
regional exploration efforts for the Birch -Uchi Greenstone Belt project,” stated Dan Wilton, CEO of First
Mining. “Our ability to identify higher- grade gold mineralization only 375 metres from our successful
drilling of the Saddle target demonstrates the strong potential for a significant gold endowment
regionally. Challenger represents a strong opportunity to further grow the Saddle area exploration
opportunity through additional field campaigns, strongly validating our exploration strategy and targeting
methodology.”
Challenger Target Highlights:
• Two newly discovered gold mineralization occurrences within 60 m of each other, with samples
grading up to 25.60 g/t Au
• Close proximity to an expanding gold mineralization system (375 m NW of Saddle) identified in
First Mining’s 2023 winter drill program, where Saddle drilling returned 0.92 g/t Au over 114 m
• Employed geoscience systems approach to characterize the target geology, supporting additional
exploration opportunities in close proximity to the Challenger and Saddle target areas
• BUGB Project is proving to be prospective with increa singly advanced and catalogued targets
providing for future resource potential
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 2 -
Figure 1: Challenger Discovery and Saddle Target Location, 12 km SW of the Springpole Deposit
Table 1: Selected Rock Grab Sample Assays from the Challenger Target
Sample ID UTM (E) UTM (N) Au (g/t) Target
C261398 538281 5688632 25.60 Challenger
C261809 538231 5688633 7.10 Challenger
C261397 538283 5688630 4.42 Challenger
Note: Rock grab samples are selective in nature and may not be indicative of the true grade and style of
mineralization on the property
Challenger Target
The Challenger target is located approximately 12 km southwest of First Mining’s Springpole Gold Project
(see Figure 1), which hosts a NI 43-101 mineral resource totalling 4.6 million ounces of gold at 0.94 g/t Au
in the Indicated category and 0.3 million ounces of gold at 0.54 g/t Au in the Inferred category*. The
Challenger target is hosted within the BUGB project area, where locally a significantly deformed and
mineralized granodiorite intrusive occurs in contact with clastic sedimentary turbidites and
conglomerates. Mineralization is associated within an increased silica and carbonate altered and sheared
structure over an exposed strike length of 6 0 metres , with high concentrations of multiphase quartz
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 3 -
veining within a thick bedded turbidite sequence. The dominant sulphide mineralization is composed of
pyrite and occurs as very fine-grained disseminations averaging an abundance of 1 -5%. At least two
generations of quartz veining are documented subparallel and orthogonal to the controlling structure and
vary from 1 cm to 50 cm in scale . Mineralization appears to occur within geophysical resistivity low
signatures interpreted to be large -scale folding within the clastic sedimentary lithology (Figure 2). The
2023 field results indicate that a high-grade mineralized structure exist s along meaningful strike length
and therefore warrants follow-up exploration.
Figure 2: Photo of Newly Discovered Challenger Area Alteration and Shear Gold Occurrence
* Details of the Springpole Gold Project mineral resource can be found in the technical report entitled “NI 43 -101
Technical Report and Pre-Feasibility Study on the Springpole Gold Project, Ontario, Canada” which was prepared by
AGP Mining Consultants Inc. in accordance with National Instrument 43 -101 Standards of Disclosure for Mineral
Projects (“NI 43-101”) and has an effective date of January 20, 2021.
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 4 -
Regional Exploration
The Saddle and Challenger target areas represent underexplored opportunities that have been subject to
limited historical prospecting and geoscience programs of induced polarization (IP) and airborne magnetic
geophysics, as well as diamond drilling completed in the 1980s . S ince that time, further field-based
exploration activities at these prospective areas have been limited. First Mining believes that a modern
exploration approach inclusive of additional diamond drill testing is warranted.
In 2021, First Mining completed a focused field campaign that targeted regional gold occurrences
including grab samples at Rice (7.54 g/t and 2.67 g/t), Green (1.79 g/t), and Exit and Trench Grid (4.8 g/t),
that form a notable trend with the Saddle and Challenger target areas over a projected 1 km strike length.
Opportunities for expanding the mineralization system and the potential for exploring within a related
structural setting have elevated the regional prospectivity in advancing the area.
Exploration completed in First Mining’s 2022 field campaigns further advanced geologic understanding of
the area, with data collection supporting an integrated 3D exploration model. Surface grab sample results
from the 2022 campaign returned assay results which vector towards a mineralization setting that
includes several structures surrounding and proximal to an intrusi ve cent re, with h igher-grade grab
samples found proximal to the contact of the sedimentary host rock and the felsic intrusive unit.
In 2022 , the Company conducted additional a irborne geophysical surveying that supported improved
targeting resolution for exploration drilling . Through processing and interpretation , modelled shear
zone(s) coincident with mineralization have been interpreted which has proved to be valuable in step-out
exploration planning.
During the 2023 winter program, First Mining successfully completed 842 m of drilling in 5 exploration
drill holes focused on the Saddle target (see news release dated July 6, 2023 ). Drilling was aimed at
validating the newly developed 3D exploration model, underpinned by historical drilling and field -based
data collection, as well as testing extensions along strike, at depth, and across an interpreted fault offset.
The results from the 2023 winter drilling highlight robust intervals of consistent gold mineralization over
significant widths including 0.92 g/t Au over 114 m and 0.75 g/t Au over 57.70 m (drill hole SAT23-001).
The program has been successful in confirming the continuation of the mineralization envelope along the
shear structure, opening up the exploration growth potential around the Saddle target which continues
to demonstrate an evolving gold mineralization setting with advancing exploration.
2023 Summer Field Campaign
The 2023 summer field campaign for the Saddle area followed up on key geological features with a specific
focus on geochemistry and geophysical signatures which have been interpreted to be related to Saddle
gold mineralization. First Mining’s exploration teams this year completed regional infill mapping transects
and conducted prospecting in previously underexplored areas.
Through mapping and prospecting, 56 grab samples were taken across the area, of which 18 grab samples
were taken in the Challenger target area, 46 outcrop stations were mapped, and 51 regional soil samples
were collected.
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 5 -
Results of the Saddle target follow -up exploration program confirmed surface mineralization, shear
structures and an alteration expression that is coincident with a series of resistivity low signatures.
Regional transects were then conducted to the north of the Saddle target to further infill outcrop mapping
as well as prospect a sub-parallel resistivity low trend which occurred proximal to an area of anomalous
gold in historical soil samples (100 ppb Au). Investigation of the geoscience components led to the new
discovery.
Initial assay results for samples from the Challenger target discovery returned 25.6 g/t Au and 4.42 g/t Au
in rock grab assays along a regional transect , prompting further in-field mapping and sampling to better
characterize and validate the relationship between mineralization, alteratio n and the resistivity low
extending along trend. Assay results from the follow-up campaign further validated this signature at the
Challenger target and established a 60 m strike extension between a 25.6 g/t Au and 7.1 g/t Au rock grab
sample (Figure 2). On a regional scale, the Challenger as well as the Rice and Saddle targets are supportive
of two favourable resistivity low expressions that average up to ~100 m in width, have a ~600 m estimated
strike length and form a positive vector for follow-up exploration programs (Figure 3).
All assay results from the Challenger target grab sample program are reported below in Table 2 which
includes sample location data.
“The Challenger target is an important new discovery for our exploration teams that is illustrative of the
rewarding opportunities in a sustained and fundamental geoscience approach. We continue to
demonstrate a growing exploration story in the renowned Red Lake Mining District that is proven to host
large-scale, high value gold deposits,” stated James Maxwell, VP Exploration at First Mining.
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 6 -
Figure 3: Geological Compilation Map of the Challenger Target and its S patial Relationship to the Saddle and Rice
Targets. Grab assay results are highlighted within IP Resistivity low.
Table 2: Assay Results at the Challenger Target
Sample ID UTM (E) UTM (W) Grade ( Au g/t) Target
C261397 538283 5688630 4.42 Challenger
C261398 538281 5688632 25.6 Challenger
C261801 538278 5688629 2.81 Challenger
C261802 538281 5688624 3.10 Challenger
C261803 538283 5688623 2.90 Challenger
C261804 538285 5688626 0.71 Challenger
C261806 538283 5688625 0.19 Challenger
C261807 538279 5688623 0.09 Challenger
C261808 538281 5688624 0.04 Challenger
C261809 538231 5688633 7.10 Challenger
C261810 538233 5688639 0.38 Challenger
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 7 -
Sample ID UTM (E) UTM (W) Grade ( Au g/t) Target
C261811 538230 5688634 0.06 Challenger
C261812 538232 5688636 0.39 Challenger
C261813 538223 5688635 0.01 Challenger
C261814 538226 5688634 0.07 Challenger
C261816 538226 5688634 0.11 Challenger
C261817 538238 5688628 3.76 Challenger
C261818 538223 5688641 0.01 Challenger
About the Birch-Uchi Greenstone Belt
First Mining’s BUGB Project hosts significant district -scale exploration leverage in forming part of a
consolidated >70,000 hectare mineral tenure . The property and broader greenstone belt hosts historic
production centres that are demonstrative of the strong gold endowment and an affinity for potential
new discovery. First Mining’s extensive BUGB property position is located within the Red Lake Mining
District and is situated approximately 80 km east of the Red Lake Mines Complex of Evolution Mining, and
75 km northeast of Kinross Gold’s Dixie Project (formerly owned by Great Bear Resources Ltd). Geology
of the region is comprised of Archean Greenstone terranes that are endowed by significant go ld
mineralization inclusive of orogenic and alkaline intrusion-related deposit styles. Initial data compilation
and validation to date has indicated that the region demonstrates an underexplored and previously
fragmented exploration immaturity that is well levered to the Company’s strategy of consolidation and
district screening.
The BUGB hosts multiple gold mineralization styles throughout, which supports having a strong multi -
discipline geoscience foundation that can be applied in an integrated and iterative targeting approach .
Early targeting and vectoring elements highlight consolidated target opportunities surrounding the
Springpole Project.
Analytical Laboratory and QA/QC Procedures
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. Grab samples from the 2023 field
program were sent to AGAT Laboratories in Thunder Bay, Ontario, and Calgary, Alberta, where they were
processed for gold analysis by 50 gram fire assay with an atomic absorption finish, and 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.
Qualified Person
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 8 -
Hazel Mullin, P.Geo., Director, Data Management and Technical Services of First Mining, is a “Qualified
Person” for the purposes of NI 43-101 Standards of Disclosure for Mineral Projects, and she 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
with Auteco Minerals 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]
Richard Huang | Vice President, Corporate Development | 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”,
“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.
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