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

First Mining Gold Corp. Successfully Closes $12 Million Public Offering

First Mining Gold Corp., recognized on the Toronto Stock Exchange as FF and also listed on OTCQX and Frankfurt, has announced a notable achievement with the closure of its over-subscribed public offering. This initiative has successfully raised $12,000,600 by selling 66,670,000 units at a unit price of $0.18.

The announcement comes as a part of an agency agreement signed on July 16, 2025, involving a network of placement agents. Each unit offered constitutes one common share along with a half of a common share purchase warrant. These warrants give investors the opportunity to acquire further shares at $0.27 apiece, with the option available for 36 months post-closing.

The funds amassed through this offering are vital for advancing First Mining's two significant projects: the Springpole Gold Project, located in northwestern Ontario, and the Duparquet Gold Project situated in Quebec. The company also plans to utilize the net proceeds for general working capital and corporate purposes as outlined in the relevant prospectus supplement.

It's essential to note that the units have not been registered under the U.S. Securities Act of 1933, which imposes restrictions on their sale in the United States unless specific exemptions apply. Thus, this news release does not serve as an offer or solicitation for the sale or purchase of the units in any region where such an action would violate local laws.

Projects in Focus

Springpole Gold Project

The Springpole project is poised to be one of Canada's largest gold endeavors, with a feasibility study currently underway. Environmental permitting activities are in progress, with a final Environmental Impact Statement submitted in November 2024. This project is essential for First Mining as it aims to enhance its operational capabilities and contribute to the region's economic growth.

Duparquet Gold Project

On the other hand, the Duparquet Gold Project is still in the preliminary economic assessment (PEA) stage and is strategically located on the Destor-Porcupine Fault Zone, known for its rich mineralization within the Abitibi region. The development of this site is expected to harness synergies with the ongoing Springpole project and fortify First Mining's position in the competitive gold mining landscape.

In addition to these primary projects, First Mining holds a diverse portfolio that includes the Cameron Gold Project in Ontario as well as interests in collaborations such as the Pickle Crow Gold Project with Firefly Metals Ltd. and the Hope Brook Gold Project in partnership with Big Ridge Gold Corp.

Company Overview

Founded in 2015 by Keith Neumeyer, the CEO of First Majestic Silver Corp., First Mining Gold Corp. has carved its niche as a promising gold developer in Canada. Aiming to establish itself as a leader in the sector, the company is focused on transparent and sustainable mining operations that benefit both shareholders and local communities.

Looking Ahead

Despite achieving this financing milestone, First Mining underscores the speculative nature of mining and development. It is imperative for stakeholders to acknowledge the inherent risks that may arise due to fluctuating market conditions, regulatory changes, and potential operational delays. However, First Mining remains committed to its strategic vision and the advancement of its projects, communicating openly with investors regarding any developments and maintaining a proactive approach to risk management.

The closing of this offering signifies a pivotal moment for First Mining as it gears up to take significant steps toward enhancing its mining projects and achieving operational excellence. As it moves forward, the company champions responsible mining practices while seeking to maximize value for its stakeholders in the evolving landscape of the precious metals sector.