First Mining Options Additional Land Package Near Springpole Gold Project

April 29, 2021 – Vancouver, Canada – First Mining Gold Corp. (“First Mining” or the “Company”) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce that the Company has entered into an earn-in agreement with Whitefish Exploration Inc. (“Whitefish”) pursuant to which First Mining may earn, over the course of two stages and over a period of five years, up to a 100% interest in Whitefish’s Swain Lake property (the “Swain Lake Property”) located in northwestern Ontario.  First Mining will have the option to earn an initial 70% interest in the Swain Lake Property by making cash payments totaling $200,000, and share payments totaling $425,000, to Whitefish, and by incurring at least $500,000 worth of expenditures on the Swain Lake Property during the first 3 years of the earn-in term. Upon completing the first stage of the earn-in, First Mining will hold, through its wholly-owned subsidiary Gold Canyon Resources Inc. (“Gold Canyon”), a 70% interest in the Swain Lake Property, and will have an additional period of 2 years within which to acquire the remaining 30% of the property by paying $1 million to Whitefish and issuing $1 million worth of First Mining shares to Whitefish.  In the event the second stage of the earn-in is not completed, Whitefish and Gold Canyon will enter into a joint venture agreement with respect to the Swain Lake Property.

 

The Swain Lake Property comprises of 82 single cell mining claims covering 1,640 hectares. It is located approximately 2 km from First Mining’s western-most property boundary at its Springpole Gold Project (“Springpole”) and immediately to the east of the Swain Post property (as announced on March 1, 2021, First Mining has signed a three-year option agreement with Exiro Minerals Corp. (“Exiro”), the owner of the Swain Post property, pursuant to which First Mining may acquire a 100% interest in the Swain Post property by making future cash and share payments to Exiro, and completing all assessment work requirements on the property, during the term of the option).

 

“We are very excited to continue consolidating highly prospective mineral tenure near our Springpole Gold Project,” stated Dan Wilton, CEO of First Mining. “Over the last couple of months, First Mining has added a further 6,200 hectares to our land package in the Birch-Uchi greenstone belt and we look forward to surfacing value in this under-explored region.  The Swain Lake Property is host to encouraging, high-grade gold occurrences identified during earlier work programs, and is adjacent to the past-producing, high-grade Sol D’or mine.  We will be incorporating this property in our regional and targeted exploration programs in the next twelve months.”

 

Location of the Swain Lake Property and the Springpole Gold Project:

 

The Swain Lake Property has seen limited historical exploration work for both precious and base metals.  A number of parties have completed work on the property including Asarco, Merrex Gold, Falconbridge, and most recently, Fronteer Gold in 2003 and 2004.  The property is located in the Birch-Uchi greenstone belt within the Uchi geological subprovince and is comprised of volcanic and metasedimentary successions similar to those in the contiguous Red Lake greenstone belt.  The Springpole deposit is located approximately 16 km to the northwest, and the winter road used to access Springpole passes through the western end of the Swain Lake Property.  First Mining intends to undertake regional data compilation and more detailed field exploration in the next twelve months.

 

Qualified Person

 

Hazel Mullin, P.Geo., Director, Data Management and Technical Services of First Mining, is a “Qualified Person” for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects, and she has reviewed and approved the scientific and technical disclosure contained in this news release.

 

About First Mining Gold Corp. 

 

First Mining is a Canadian gold developer focused on the development and permitting of the Springpole Gold Project in northwestern Ontario. Springpole is one of the largest undeveloped gold projects in Canada. The results of a positive Pre-Feasibility Study for the Springpole Gold Project were announced by First Mining in January 2021, and permitting activities are on-going with submission of an Environmental Impact Statement (“EIS”) for the project targeted for 2021. The Company also holds a large equity position in Treasury Metals Inc. who are advancing the Goliath-Goldlund gold projects towards construction. First Mining’s portfolio of gold projects in eastern Canada also includes the Pickle Crow (being advanced in partnership with Auteco Minerals Ltd.), Cameron, Hope Brook, Duparquet, Duquesne, and Pitt gold projects.

 

First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic Silver Corp. 

 

For further information, please contact:

 

Janet Meiklejohn | Vice President, Investor Relations

Direct: +1 604 639 8825 | Toll Free: 1 844 306 8827 | Email: info@firstmininggold.com 

www.firstmininggold.com