#Canada #Vancouver #First Mining #First Majestic #Springpole Gold

First Mining Gold Corp. Raises $6 Million from Warrant Exercise

On December 16, 2025, First Mining Gold Corp. (TSX: FF) announced a significant financial boost, having secured total proceeds of C$6,410,045 from the exercise of 32,050,228 common share purchase warrants by First Majestic Silver Corp. at a price of $0.20 each. This development not only strengthens the company's financial position but also reflects the ongoing partnership between First Mining and First Majestic, especially in regard to the advancements in mineral resource developments.

Use of Proceeds

The proceeds from this warrant exercise will be strategically utilized to further develop First Mining’s key projects, namely the Springpole and Duparquet gold projects. These initiatives are crucial for the company, as they work towards enhancing their operational footprint in Canada’s lucrative gold mining sector. With the increasing capital, First Mining intends to accelerate its feasibility studies and other preparatory work to ensure the successful progression of these projects.

First Mining’s Ambitious Projects

First Mining is advancing two prominent gold projects: the Springpole Gold Project located in northwestern Ontario and the Duparquet Gold Project in Quebec. The Springpole project has already seen significant progress, with a feasibility study currently underway and ongoing permitting activities. This includes a final Environmental Impact Statement submitted in November 2024, indicating that First Mining is making substantial strides toward eventually bringing these resources into production.

Meanwhile, the Duparquet project, situated on the Destor-Porcupine Fault Zone, is at the pre-economic assessment (PEA) stage, further showcasing First Mining's committed efforts to expand its resource base in the region. Additionally, the company holds the Cameron Gold Project and a 30% interest in the Pickle Crow Gold Project, emphasizing its diverse portfolio within the Canadian gold mining landscape.

Stakeholder Engagement

Following the warrant exercise, First Majestic’s stake in First Mining increased to 47,379,944 common shares, representing about 3.5% of the total common shares outstanding. This augmented involvement highlights First Majestic’s commitment to First Mining's vision and operational success, synergizing the strengths of both companies in the competitive gold market.

About First Mining Gold Corp.

Founded in 2015 by Keith Neumeyer, who also serves as the founding President and CEO of First Majestic Silver Corp., First Mining Gold Corp. is dedicated to advancing significant gold assets in Canada. The company prioritizes sustainable practices and active engagement with local communities to ensure development aligns with environmental and social governance standards.

Future Outlook

As the mining sector continues to face various challenges, including fluctuating commodity prices and economic uncertainties, First Mining is well-positioned to leverage this fresh influx of capital. The company acknowledges the inherent risks associated with mineral exploration, including potential operational hurdles and regulatory changes. However, with a clear strategy and robust financial backing from its partners, First Mining aims to navigate these challenges while maximizing shareholder value.

The company remains vigilant and adaptive, understanding that the mining landscape can shift rapidly due to market volatility and political dynamics. As part of its commitment to transparency and accountability, First Mining emphasizes its forward-looking statements, inviting stakeholders to consider the factors that may influence future results.

In summary, First Mining Gold Corp. stands at a pivotal juncture with promising advances in its key projects, underscored by strong partnerships and financial backing. The future looks bright as they continue their journey to unlock the potential of North America's rich gold resources.