First Mining Further Defines Expansion Opportunity and Adds Second Drill Rig at the Duparquet Gold Project
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NEWS RELEASE
First Mining Further Defines Expansion Opportunity and
Adds Second Drill Rig at the Duparquet Gold Project
• Drilling at Valentre target intersects 3.98 g/t Au over 8.7m and 1.82 g/t Au over 14.35m
• Confirms continuity of mineralization between Central Duparquet pit and Dumico pit and
demonstrates resource expansion opportunity
August 28, 2024 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX:
FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce new drilling results from the 2024 Phase
3 diamond drilling program at its Duparquet Gold Project (“Duparquet Project” or the “Project”) located
in Quebec, Canada. These new drill results further define resource expansion opportunities at an under-
tested area termed the Valentre target (“Valentre”), where follow-up drilling is now taking place. Drilling
continues on priority targets at the Project where a second drill rig is planned to mobilize in September,
allowing First Mining to test regional exploration targets while concurrently advancing recent exploration
discoveries at the North Zone (see news release dated June 18, 2024 ), Buzz (see news release dated
February 22, 2024) and Valentre.
Recent drilling at Valentre has returned positive drill intercepts from an area of 175 m of strike length that
is under tested and envisioned to establish mineralization continuity within a key area of the project.
Highlights of the recent drilling include 3.98 g/t Au over 8.70 m (DUP24-026), and 1.82 g/t Au over 14.35
m (DUP24-027), demonstrating both encouraging grades and widths within an area of potential resource
growth and further exploration opportunities.
“We continue to execute on an exploration plan that clearly demonstrates the resource growth potential
at Duparquet, already one of the largest undeveloped gold projects in Canada,” stated Dan Wilton, CEO
of First Mining. “The success at Valentre is a tangible result of the hard work our exploration team has put
into understanding the geology at Duparquet over the past two years and gives First Mining confidence
in continued exploration success at this robust project.”
The Phase 3 drill program commenced in April with a total of approximately 5,700 m completed to date.
This program aims to test priority targets focusing on multiple potential resource expansion zones across
the Duparquet Project. The initial results returned from the Phase 3 campaign are from select holes at
Valentre, which tests an area between the Central Duparquet and Dumico resource pit shells which was
previously not drilled due to a historical property boundary. Further Phase 3 drilling has continued at the
Buzz Zone and the North Zone Expansion target areas, with additional results expected for future release.
Further drill testing is ongoing, focusing on other brownfields opportunities with the aim of identifying
higher-grade zones and targeted resource expansion opportunities.
A plan map of the Valentre and Central Duparquet drill holes is presented in Figure 1, and corresponding
assay highlights are presented in Table 1, with full assay results listed in Table 2 and drill hole locations in
Table 3.
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Table 1: Selected Significant Drill Intercepts, 2024 Phase 3 Drill Program – Valentre and Central
Duparquet Targets
Hole ID From
(m) To (m) Length (m) Grade (Au g/t)
DUP24-025 149.35 151.10 1.75 3.71
DUP24-025 Incl. 150.0 150.50 0.50 8.45
DUP24-025 210.4 225.35 14.95 0.82
DUP24-025 Incl. 220.65 224.55 3.90 1.98
DUP24-025 238.2 243.10 4.90 1.49
DUP24-026 163.0 171.70 8.70 3.98
DUP24-027 195.0 197.85 2.85 2.80
DUP24-027 250.55 264.90 14.35 1.82
DUP24-027 Incl. 263.0 264.00 1.00 5.62
*Reported intervals are drilled core lengths (true widths are estimated at 75-85% of the core length interval , assay
values are uncut)
Figure 1: Plan view of select drill holes from the Phase 3 program at the Valentre Target area.
Additional Details on Valentre Drilling
The Valentre drilling strategy is focused on targeting resource growth opportunities towards the eastern
side of the main resource where an opportunity for strike extension of the mineralization was identified.
This mineralization extension opportunity spans 175 m on strike between two established centres of
mineral resource wireframes (Central Duparquet and Dumico). During the 2023 drilling program, an initial
single hole (DUP23-006) was drilled to test this opportunity, resulting in the successful identification of six
intervals of significant gold mineral ization including 1.71 g/t Au over 8.9m (refer to news release dated
January 9, 2024).
The initial 2024 Valentre follow-up drilling campaign, comprising of three holes (DUP24-025, DUP24-026
and DUP24 -027), has now confirmed continuity in the miner alization along strike and at depth .
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Mineralization in all three holes is associated with strong silica-altered syenite with dark grey quartz
veining and up to 5% fine -grained disseminated pyrite throughout the unit as illustrated in Figures 2, 3
and 4 . Higher-grade zones a re consistent along interpreted D2 structures, which are characterized by
strong shearing and/or brecciation observed in the core.
Figure 2: Valentre Target – DUP24-025 is a hole targeting the potential mineralization continuity between Central Duparquet
and Dumico. Significant intercepts are highlighted downhole, with higher-grade zones identified along altered mineralized
syenite units. The cross section is looking west.
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Figure 3: Valentre Target – DUP24-026 is a second hole targeting the potential mineralization continuity between Central
Duparquet and Dumico. Significant intercepts are highlighted downhole, with higher-grade zones identified along altered
mineralized syenite units. This drill hole is also a test of mineralization continuity up-dip of previously drilled hole DUP23-006. The
cross section is looking west.
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Figure 4: Central Duparquet Target – DUP24-027 is a hole targeting the potential mineralization continuity between Central
Duparquet and Valentre as well as at depth. Significant intercepts are highlighted downhole, with higher-grade zones identified
along altered mineralized syenite units. The cross section is looking west.
An additional 12 holes (Figure 5) are planned for Valentre in the 2024 drilling campaign, which aims to
further test the strike extension as well as depth expansion opportunities alongside advancing the
characterization of the mineralization in support of delineating higher-grade trends. This drilling will
further provide support in new wireframe updates. Valentre has returned significant upside and value to
the Duparquet Project and is a priority area for exploration optimization and potential extension of the
current open pit and underground mineral resource. The recent drill results continue to support the area
as a highly prospective target zone for the Project, with potential to unlock meaningful upside along strike
and at depth (Figure 5).
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Figure 5: Representative long section through the Central Duparquet, Valentre, and Dumico Targets , highlighting the multiple
significant intercepts returned in 2023 and in the 2024 Phase 3 program as well as the upcoming drill hole targets aimed at
unlocking exploration opportunities.
Duparquet 2024 Exploration Program
Exploration activities continue to advanc e at the Duparquet P roject through 2024, with ongoing drilling
and regional field work programs . Exploration efforts are advancing with the follow up programs
established through a prospectivity and target pipeline , which has recently been further augmented by
the completion of an airborne geophysical magnetic and VLF -EM surveys as well as property wide
expansion of the 3D geological and target model. The remainder of the 2024 program will advance with
two drill rigs on the project and the close out of the summer field campaigns developed in support of the
Company’s integrated geoscience exploration strategy.
Table 2: Phase 3 Valentre and Central Duparquet Drilling - Significant Assays
Hole ID From
(m) To (m) Length (m) Grade (Au g/t)
DUP24-025 6.00 7.00 1.00 0.40
DUP24-025 25.00 26.00 1.00 0.72
DUP24-025 73.35 74.90 1.55 0.77
DUP24-025 112.00 113.00 1.00 4.85
DUP24-025 124.75 125.95 1.20 3.40
DUP24-025 135.45 137.35 1.90 0.74
DUP24-025 149.35 151.10 1.75 3.71
DUP24-025 incl. 150.00 150.50 0.50 8.45
DUP24-025 181.75 182.35 0.60 0.59
DUP24-025 207.00 208.00 1.00 0.92
DUP24-025 210.40 225.35 14.95 0.82
DUP24-025 incl. 220.65 224.55 3.90 1.98
DUP24-025 232.80 233.50 0.70 0.55
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Hole ID From
(m) To (m) Length (m) Grade (Au g/t)
DUP24-025 238.20 243.10 4.90 1.49
DUP24-026 34.05 37.00 2.95 0.88
DUP24-026 46.85 49.25 2.40 0.55
DUP24-026 89.00 90.00 1.00 0.97
DUP24-026 94.00 95.65 1.65 0.52
DUP24-026 133.55 135.00 1.45 1.08
DUP24-026 163.00 171.70 8.70 3.98
DUP24-027 64.35 65.20 0.85 0.41
DUP24-027 189.50 190.65 1.15 0.90
DUP24-027 195.00 197.85 2.85 2.80
DUP24-027 207.80 208.65 0.85 0.47
DUP24-027 241.75 243.20 1.45 0.58
DUP24-027 250.55 264.90 14.35 1.82
DUP24-027 incl. 263.00 264.00 1.00 5.62
DUP24-027 272.25 273.50 1.25 2.74
DUP24-027 297.50 300.45 2.95 1.33
DUP24-027 305.00 306.00 1.00 1.26
*Reported intervals are drilled core lengths (true widths are estimated at 75- 85% of the core length interval ; assay
values are uncut)
Table 3: Phase 3 Drill Hole Locations, Valentre and Central Duparquet Targets
Hole ID Azimuth (°) Dip (°) Length (m) Easting Northing
DUP24-025 175 -60 294 633555 5373924
DUP24-026 175 -45 177 633456 5373909
DUP24-027 185 -75 315 633361 5373898
Note: Collar coordinates in UTM NAD 83 z17
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 Project benefits from
easy access and proximity to an existing workforce and infrastructure, including road, rail and
hydroelectric grid power. The Duparquet Project currently hosts an NI 43-101 compliant gold resource of
3.44 million ounces in the Measured & Indicated category , grading 1.55 g/t Au, and an additional 2.64
million ounces in the Inferred category, grading 1.62 g/t Au. First Mining completed a Preliminary
Economic Assessment1 (“PEA”) on the Project in 2023 (see news release s dated September 7, 2023 and
October 23, 2023).
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The Duparquet Project totals approximately 5,800 hectares focused on an area of 19 km 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 as well as the Central Duparquet, Dumico and Pitt Gold deposits.
1 Further details on the Duparquet PEA can be found in the technical report entitled “NI 43 -101 Technical Report: Preliminary
Economic Assessment, Duparquet Gold Project, Quebec, Canada” dated October 20, 2023, which was prepared for First Mining
by G Mining Services Inc. in accordance with NI 43-101 and is available under First Mining’s SEDAR profile at www.sedarplus.ca
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. Core samples from the 2024 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.
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
with Firefly Metals Ltd.) and the Hope Brook Gold Project (being advanced in partnership with Big Ridge
Gold Corp.).
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