First Mining Forms Strategic Partnership to Propel Cameron Gold Project Forward

First Mining Gold Corp. recently announced its ambitious plans for the Cameron Gold Project following the establishment of a significant partnership with Oronova Energy Inc. This collaboration is set to strengthen First Mining’s position in the mining sector and enhance the development of its gold projects in Ontario.

Details of the Partnership

On November 20, 2025, First Mining revealed that it had signed a definitive amalgamation agreement with Oronova, entering into a transaction worth a total of C$27 million. This deal includes C$5 million in cash, 80 million common shares of Oronova at a deemed value of C$0.25 each, and a future cash payment of at least C$2 million related to the processing of a mineralized stockpile at the Cameron site. As a result of this transaction, Oronova will be renamed Seva Mining Corp., and First Mining will hold a significant stake in the newly formed company, ensuring it is the largest shareholder.

Dan Wilton, CEO of First Mining, articulated his enthusiasm about this collaboration, noting their shared commitment to Indigenous communities in Canada. He stated, “We are very excited to enter into this partnership with the Fiore Group to advance the Cameron Gold Project.” The Fiore Group's lengthy history of successful mining ventures and its focus on fostering meaningful relationships within local communities will serve as a backbone for the development of the project.

Implications for the Community

This partnership is not solely about financial gains; it also places a large emphasis on the advantages it brings to local and Indigenous communities around the Cameron Project. By employing local labor and fostering partnerships, this initiative is poised to deliver social benefits alongside economic growth. The Fiore Group's established approach in engaging with Indigenous peoples will likely lead to positive outcomes as they work closely with First Mining to navigate local concerns and opportunities.

Structure of the Transaction

The agreement outlines a unique three-cornered amalgamation structure under the Business Corporations Act (Ontario), which enables Oronova to organize a subsidiary. This subsidiary will then amalgamate with Cameron Gold under the terms agreed upon, streamlining the process and maintaining compliance.

Additionally, prior to closing the transaction, Oronova intends to execute a private placement which might yield up to C$15 million through the issuance of new shares. First Mining is expected to own approximately 48% of the new Seva Mining Corp post-transaction, solidifying its influence and role in the project's future. The potential uses for the proceeds include advancing exploration, covering transaction costs, and general working capital, thus providing a strong financial foundation for the upcoming endeavors.

Future Prospects

The closure of the transaction is contingent on customary approvals, particularly from the TSX Venture Exchange, and is anticipated to occur in the first quarter of 2026. With ongoing positive momentum and a robust operational plan, First Mining is well-positioned to capitalize on its projects while ensuring sustainable development in collaboration with Oronova and the Fiore Group.

First Mining Gold Corp. has been advancing significant gold projects in Canada, including the Springpole and Duparquet projects. Each of these projects has immense potential, further demonstrating the company’s strategic direction to enhance its portfolio with the newly acquired Cameron Gold Project.

Conclusion

The recent announcement by First Mining Gold Corp. regarding its partnership with Oronova Energy Inc. marks a turning point for the Cameron Gold Project. With a foundation built on collaboration, community engagement, and strong financial backing, the future looks promising for First Mining and the stakeholders involved. This strategic move not only strengthens First Mining's market position but also paves the way for innovative exploration and development practices in the Canadian mining landscape.