First Mining Provides Further Update Regarding Acquisition of Duparquet Gold Project
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 1 -
NEWS RELEASE
First Mining Provides Further Update Regarding
Acquisition of Duparquet Gold Project
August 30, 2022 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX:
FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to provide an update regarding its offer (“Beattie
Offer”) to acquire all of the issued and outstanding common shares of Beattie Gold Mines Ltd. (“Beattie
Gold”) as previously announced on July 18, 2022.
First Mining is pleased to announce that the remaining 45,000 common shares of Beattie Gold ,
representing 2.4% of Beattie Gold’s outstanding common shares, ha ve been tendered and deposited
under the Beattie Offer. Together with the 97.6% of the outstanding common shares of Beattie Gold that
have already been tendered and deposited under the Beat tie Offer (as announced by First Mining on
August 15, 2022) , First Mining will own 100% of the outstanding common shares of Beattie Gold up on
closing of the Beattie Offer.
As previously announced, First Mining has entered into binding share purchase agreements to acquire the
issued and outstanding common shares of 2699681 Canada Ltd . (“269 Canada”) and 2588111 Manitoba
Ltd. (together, the Concurrent Transactions”). In addition to owning 100% of the outstanding common
shares of Beattie Gold upon closing of the Beattie Offer, First Mining will also own 100% of the outstanding
common shares of 269 Canada and 2588111 Manitoba Ltd. as the Concurrent Transactions will close
simultaneously with the Beattie Offer in September 2022. Upon closing of the Beattie Offer and the
Concurrent Transactions, First Mining will own 100% of the Duparquet Gold Project , one of the largest
advanced-stage gold projects in Canada.
About First Mining Gold Corp.
First Mining is a gold developer advancing a portfolio of gold projects in Canada, with our most advanced
project being the Springpole Gold Project in northwestern Ontario, whic h is one of the largest
undeveloped gold projects in Canada, and where we have commenced a Feasibility Study and permitting
activities are on-going with a draft Environmental Impact Statement (“EIS”) for the project submitted in
June 2022. First Mining also own s the Cameron, Duparquet, Duquesne and Pitt gold projects, all
advanced-stage gold projects in Ontario (in the case of Cameron) and Québec. Our portfolio of gold
project interests also includes 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.), an
equity interest in Treasury Metals Inc., and a portfolio of 21 gold royalties.
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
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
- 2 -
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 Pri vate 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 and include, but are not limited to, statements
with respect to: (i) the closing date of the Beattie Offer and the Concurrent Transactions; (ii) the Company’s ownership
of 100% of the outstanding common shares of Beattie Gold foll owing completion of the Beattie Offer ; (iii) the
Company’s plans with respect to advancing its portfolio of gold projects; and (iv) Feasibility and permitting activities
related to the Springpole Project. . 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, 202 1 filed with the Canadian securities regulatory authoriti es
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 f uture 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.