First Mining Announces Closing of $12 Million Public Offering
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
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NEWS RELEASE
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
First Mining Announces Closing of $12 Million Public Offering
July 22, 2025 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX: FF)
(OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the closing of its previously announced over -
subscribed public offering (the “Public Offering”) of 66,670,000 units of the Company (the “Units”) at a price
of $0.18 per Unit (the “Unit Offering Price”) for aggregate gross proceeds to the Company of $12,000,600.
The Public Offering was completed pursuant to an agency agreement dated July 16, 2025, among the
Company, Haywood Securities Inc., as lead underwriter and joint bookrunner, along with Cormark Securities
Inc. and National Bank Financial Inc., as joint bookr unners, and including BMO Capital Markets, H.C.
Wainwright & Co., and SCP Resource Finance LP.
Each Unit is comprised of one common share of the Company (a “Unit Share”) and one-half of one common
share purchase warrant (each whole common share purchase warrant, a “ Warrant”). Each Warrant will
entitle the holder to acquire one common share of the Company at a price of $0.27 per share at any time prior
to the date which is 36 months following the closing date.
The Public Offering was conducted by wa y of a prospectus supplement dated July 16, 2025 (the
“Supplement”) to the Company's base shelf prospectus dated January 23, 2024 (the “Shelf Prospectus”) in
each of the provinces and territories of Canada (excluding Quebec).
The net proceeds from the sale of Units under the Public Offering will be used to advance First Mining’s
Springpole and Duparquet gold projects, as well as for general working capital and corporate purposes, as
disclosed in the Supplement.
The Units offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not
be offered or sold in the United States absent registration or an applicable exemption from the registration
requirements. This press release shall not constit ute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be
unlawful.
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 final Environmental Impact Statement / Environmental Assessment for the project submitted
in November 2025, 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
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
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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
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”, “plan s”, “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, the use of the
proceeds of the Public Offering and the Company’s plans for its mineral projects . 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, 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,
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 w ith 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 4 filed with the
Canadian secur ities regulatory authorities under the Company’s SEDAR+ profile at www.sedarplus.ca, and in the
Company’s Annual Report on Form 40-F filed with the SEC on EDGAR.
TSX: FF
OTCQX: FFMGF
FRANKFURT: FMG
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First Mining cautions that the foregoing list of factors that may affect future 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 for egoing 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.