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First Mining Files Final Base Shelf Prospectus and F-10 Registration Statement

Financings

TSX: FF

OTCQX: FFMGF

FRANKFURT: FMG

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NEWS RELEASE

First Mining Files Final Base Shelf Prospectus and

F-10 Registration Statement

September 29, 2021 – Vancouver, BC – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX:

FF) (OTCQX: FFMGF) (FRANKFURT: FMG) announces that it has filed and obtained a receipt for its final

short form base shelf prospectus (the “Final Shelf Prospectus”) with the securities commissions in each of

the provinces and territories of Canada, and a corresponding registration statement on Form F -10 (the

“Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”) under

the U.S./Canada Multijurisdictional Disclosure System.

First Mining has filed this Final Shelf Prospectus and the Registration Statement to provide the Company

with greater financial flexibility going forward, but has not entered into any agreements or arrangements

to authorize or offer any Securities (as defined below) at this time.

The Final Shelf Prospectus and corresponding Registration Statement will allow First Mining to undertake

offerings of common shares (including common shares issued on a “fl ow-through” basis), preferred

shares, warrants, subscription receipts and units (collectively, the “Securities”), or any combination

thereof, up to an aggregate total of C$100 million from time to time during the 25-month period that the

Final Shelf Prospectus remains effective. The Securities may be offered in amounts, at prices and on terms

to be determined at the time of sale and, subject to applicable regulations, may include “at -the-market”

transactions, public offerings or strategic investments. The specific terms of any offering of Securities,

including the use of proceeds from any offering, will be set forth in one or mor e shelf prospectus

supplement(s) to be filed with applicable securities regulators.

A copy of the Final Shelf Prospectus, and copies of any prospectus supplements that may be filed in the

future, can be found under the Company’s SEDAR profile at www.sedar.com and on EDGAR at

www.sec.gov, or may be obtained by request to Samir Patel, First Mining’s General Counsel & Corporate

Secretary, Suite 2070 – 1188 West Georgia Street, Vancouver, British Columbia V6E 4A2, Canada (tel: 1-

844-306-8827), or to [email protected].

No securities regulatory authority has either approved or disapproved the contents of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of

the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About First Mining Gold Corp.

First Mining is a Canadian gold developer focused on the development and permitting of the Springpole

Gold Project in northwestern Ontario. Springpole is one of the largest undeveloped gold projects in

Canada. The results of a positive Pre-Feasibility Study for the Springpole Gold Project were announced by

First Mining in January 2021, and permitting activities are on-going with submission of an Environmental

Impact Statement (“EIS”) for the project targeted for 2022. The Company also holds a large equity position

in Treasury Metals Inc. who are advancing the Goliath Gold Complex toward construction. First Mining’s

portfolio of gold projects in eastern Canada also includes the Pickle Crow (being advanced in partnership

with Auteco Minerals Ltd.), Hope Brook (being advanced in partnership with Big Ridge Gold Corp.),

Cameron, Duparquet, Duquesne, and Pitt gold projects.

TSX: FF

OTCQX: FFMGF

FRANKFURT: FMG

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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:

Richard Huang | Vice President, Corporate Development

Direct: +1 604 639 8824 | Toll Free: 1 844 306 8827 | Email: [email protected]

www.firstmininggold.com

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”, “targeted”, “advancing”, “proving” 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 and include, but are not limited to, statements

with respect to: (i) the filing and effectiveness of any potential prospectus supplement ; (ii) the amount and terms of

any Securities to be offered under one or more shelf prospectus supplement(s); (iii) the Company’s focus on advancing

its assets towards production; (iv) timing for the submission of the EIS for the Springpole Gold Project; and (v) realizing

the value of the Company’s gold projects for the Company’s shareholders. All forward-looking statements are based

on First Mining's or its consultants' current beliefs as well as various assumptions made by them and informatio n

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. Many

factors, both known and unknown, could cause actual results, performance or achievements to be materially different

from the results, performance or achievements that are or may be expressed or implied by such forward- looking

statements and the parties have made assumptions and estimates based on or related to many of these factors. Such

factors include, without limitation: the potential offering of any Securities by the Company; uncertainty with respect

to the completion of any future offering; the ability to obtain applicable regulatory approval for any contemplated

offerings; the ability of the Company to negotiate and complete future funding transactions ; 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 increasi ng 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, 2020 filed with the Canadian securities

TSX: FF

OTCQX: FFMGF

FRANKFURT: FMG

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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 fut ure 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 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.