#Canada #Vancouver #First Mining #Duparquet Gold #Springpole Gold

First Mining Gold Corp. Reports Q1 2025 Financial Results

First Mining Gold Corp., based in Vancouver, has revealed its financial results for the first quarter of 2025, ending March 31. CEO Dan Wilton expressed satisfaction with the progress made, especially with a notable US$5 million payment received from First Majestic Silver Corp., emphasizing the company's financial stability.

Financial Highlights

The first quarter showed promising financial indicators with cash and marketable securities amounting to $11.7 million as of March 31, 2025. The company also holds an equity interest in PC Gold Inc., valuing at approximately $21.5 million. The robust financial health is essential as First Mining continues to focus on advancing two significant gold projects in Canada: the Springpole Gold Project and the Duparquet Gold Project.

Investment in Exploration

Throughout the quarter, First Mining made substantial progress in its exploration efforts. The company announced new drilling results from the 2024 Phase 3 diamond drilling program at the Duparquet Gold Project, which included the identification of two new gold discovery zones at the Valentre target:

• - Miroir Zone: Discovered north of the Valentre target, assays showed 3.12 g/t Au over 19.35 m, with a more concentrated 5.47 g/t Au over 9.6 m.
• - Aiguille Zone: Located south of the Valentre target, this zone returned impressive values of 8.99 g/t Au over 3.1 m.

These promising findings reflect the potential for substantial resource growth, aligning with First Mining's long-term strategy.

Springpole Gold Project Updates

In February, the company revealed significant advancements in its Springpole Gold Project with results from the East Extension Phase 1 diamond drilling program, which encompassed 5 holes totaling 2,293 m. This aspect of their exploration aims to identify additional mineralized zones that may enhance the current Preliminary Feasibility Study (PFS) open-pit development footprint.

Moreover, on March 5, 2025, First Mining initiated its largest exploration drill program at the Duparquet Gold Project since acquiring complete ownership in 2022. The company plans to conduct approximately 18,000 m of exploration drilling throughout the year, focusing on priority targets that hold potential for resource expansion.

Future Outlook

Considering the rising prices of gold, First Mining believes that its core projects are favorably positioned to capitalize on this upward trend. It firmly aims to maximize its asset portfolio while boosting exploration efforts in both the Springpole and Duparquet projects.

Conclusion

First Mining Gold Corp.'s performance in the first quarter of 2025 demonstrates a solid financial foundation and an aggressive approach to exploration. With a positive outlook in gold markets, the company's ongoing projects are set to pave the way for future growth and success in the mining sector. Stakeholders can look forward to more updates as First Mining continues to make strides towards realizing the full potential of its mining properties.