Over the past few years, First Mining Gold has strategically focused on unlocking high-potential exploration opportunities across Central Canada, with two flagship projects in Springpole, Ontario and Duparquet, Quebec. This year, Caroline will share an update on how First Mining has shifted the focus from early-stage potential to tangible progress, realizing value through targeted exploration, data-driven advancements, and project development.

Springhole Project
First Mining has initiated district-scale screening of the Birch-Uchi Project area through a multi-phase commitment to explore and enhance mineral potential within the region.

Project Highlights:

• One of the largest, undeveloped, open-pit gold deposits in Canada
  • Reserves of 3.8 million ounces gold at 0.97 g/t, 20.5 million ounces of silver at 5.2 g/t
  • Average annual gold production of 335,000 ounces in years 1 through 9
• Positive Economics, +11 year mine life
  • PFS announced January 2021, post-tax NPV_5%  of $995 million and post-tax IRR of 29%
• Tier 1 Mining Jurisdiction
  • Long history of gold production in the area
• Unique Strategic Gold Asset
  • One of the few projects in Canada able to produce more than 300,000 oz per year
• Existing Infrastructure in Place
  • 34-person exploration camp, winter road access, a logging road within 18 km of the camp, and nearby power lines within 40 km

Duparquet Project

The Duparquet Gold Project, located on the Destor-Porcupine Fault Zone in the Abitibi region of Quebec, Canada, is one of the largest undeveloped gold projects in North America. The Project is located immediately north of the town of Duparquet which is approximately 50 kilometres northwest of Rouyn-Noranda, Quebec, a major mining service centre and home to the only remaining copper smelter in Canada. Duparquet currently hosts 3.4 million ounces of gold in the Indicated Mineral Resource category and 2.6 million ounces of gold in the Inferred Mineral Resource category. The deposits and claim blocks that comprise of the project are:

• Duparquet Deposit, which consists of the following claim groups:
  • Beattie
  • Donchester
  • Dumico
  • Central Duparquet
• Duquesne Deposit
• Pitt Gold Deposit
• Porcupine East Property

Map showing First Mining’s land tenure in Quebec