VANCOUVER, BC, Nov. 11, 2026 /PRNewswire/ -- First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) reports its third quarter financial results for the quarter ended September 30, 2026. The financial statements and management's discussion and analysis ("MD&A") are available on First Mining's website at www.firstmininggold.com/investors/reports-filings/financials/ and have been posted under the Company's profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.
"This has been a very monumental quarter for First Mining. Following the receipt of our federal EA approval at the end of June for our Springpole Gold Project, we signed Project agreements with three of the key indigenous communities around the Springpole Project. We look forward to a provincial EA decision in the near-term which will lead the way for a construction decision," stated Dan Wilton, CEO of First Mining. "At Duparquet, we continue to demonstrate strong exploration results that will contribute to our upcoming mineral resource update at the Duparquet Gold Project expected in Q1 2027 -- the first update since First Mining acquired full ownership of the Project in 2023. On the capital markets side, we were added the GDXJ index in September, which will boost our liquidity profile and will continue to expand our institutional and retail visibility. In addition, we successfully raised $58M in September with support from new and existing shareholders, and along with our existing cash balance and other assets, will provide First Mining with the funding runway to continue advancing Springpole and Duparquet to ultimately becoming producing gold mines."
Q3 2026 and Select YTD Highlights:
-- On September 24, 2026, the Company announced it had closed its bought
deal public offering (the "Offering"). Pursuant to the Offering, the
Company issued 68,459,500 common shares of the Company (the "Common
Shares") at a price of $0.84 per Common Share for aggregate gross
proceeds of $57,506,000, including full exercise of the over-allotment
option.
-- On September 14, 2026, the Company announced it had been added to the
MVIS(R) Global Junior Gold Miners Index ("MVGDXJ"), the underlying
benchmark index for the VanEck Junior Gold Miners ETF. Pursuant to the
MVGDXJ's semi-annual review and rebalancing, First Mining's inclusion was
effective at the close of trading on September 18, 2026.
-- On September 10, 2026, the Company released initial results from the 2026
exploration drilling program at its Duparquet Gold Project, primarily
from the Miroir Target including 5.26 g/t Au over 19.55 Metres. The 2026
drilling campaign will include approximately 15,000 m of drilling. The
Company has also initiated an update to the Duparquet Gold Project
resource model to incorporate approximately 48,000 m of drilling
completed since September 2022.
-- On August 26, 2026, the Company entered into a Project Consultation and
Benefits Agreement (the "CLLS Project Agreement") with Cat Lake First
Nation ("Cat Lake" or "CLFN") and Lac Seul First Nation ("Lac Seul" or
"LSFN"). The CLLS Project Agreement solidifies a mutually beneficial and
collaborative long-term relationship for the development of the
Springpole Project. The CLLS Project Agreement covers all phases of the
Springpole Project including construction, operations, and closure, in a
manner that respects the land, air, water and culture, and provides key
benefits to Cat Lake and Lac Seul, and certainty for the Springpole
Project's successful future. The CLLS Project Agreement was negotiated
following a groundbreaking, community-based Anishinaabe-led Impact
Assessment ("ALIA") process to ensure that the interests and concerns of
the CLFN and LSFN were taken into account.
-- On August 24, 2026, the Company entered into a milestone Project
Agreement (the "Slate Falls Project Agreement") with Slate Falls Nation
("Slate Falls" or "SFN"). The Slate Falls Project Agreement sets out a
collaborative approach for the development of the Springpole Project,
through construction, operations, and closure in a manner that respects
the environment and provides direct benefits to Slate Falls. The Slate
Falls Project Agreement was negotiated along with a community-based
consultation process to ensure that the interests and concerns of the SFN
were taken into account.
-- On January 7, 2026, the Company announced results of the updated
Socio-Economic Analysis for the Springpole Project undertaken by WSP
Canada Inc. which demonstrates the major benefits to the local region,
Ontario and Canada. The Springpole Project is anticipated to deliver
3,340 jobs in each year of construction, 5,910 jobs in each year of
operations, to generate over $7.0 billion of tax revenue for government
and contribute $15.0 billion to the Gross Domestic Product over the life
of the Project.
-- As of September 30, 2026, the Company's cash and marketable securities
balance was $81 million. In addition to the cash and marketable
securities of $81 million, the market value held by First Mining of Seva
Mining was $35 million(1) and the equity interest in PC Gold Inc. was
$14.3 million.
(1) Seva Mining value based on 80 million shares multiplied by C$0.44 closing share price of Seva on September 30, 2026.
About First Mining Gold Corp.
First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where the federal Environmental Assessment for the Springpole Project was approved in June 2026, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns a 20% project interest in the Pickle Crow Gold Project in Ontario and large equity interest in Seva Mining Corp.
First Mining was established in 2015 by Mr. Keith Neumeyer, founder and CEO of First Majestic Silver Corp.
ON BEHALF OF FIRST MINING GOLD CORP.
Daniel W. Wilton
Chief Executive Officer and Director
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "opportunities", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. All forward-looking statements are based on First Mining's or its consultants' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: timing of Duparquet resource update, timing of the Provincial EA decision, visibility and liquidity of GDXJ inclusion, results of the WSP study, the Company's plans with respect to advancing its portfolio of gold projects including the Springpole Project and Duparquet Gold Project, and feasibility and permitting activities related to the Springpole Gold Project.
Forward-looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Such factors include, without limitation the Company's business, operations and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises, and by reactions by government and private actors to such outbreaks; fluctuations in the spot and forward price of gold, silver, base metals or certain other commodities; fluctuations in the currency markets (such as the Canadian dollar versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments; requirements for additional capital; changes in project parameters as plans continue to be refined; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities, indigenous populations and other stakeholders; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; title to
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