First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the closing of its previously announced over-subscribed public offering  of 66,670,000 units of the Company at a price of $0.18 per Unit for aggregate gross proceeds to the Company of $12,000,600.

The Public Offering was completed pursuant to an agency agreement dated July 16, 2025, among the Company, Haywood Securities Inc., as lead underwriter and joint bookrunner, along with Cormark Securities Inc. and National Bank Financial Inc., as joint bookrunners, and including BMO Capital Markets, H.C. Wainwright & Co., and SCP Resource Finance LP.

Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant. Each Warrant will entitle the holder to acquire one common share of the Company at a price of $0.27 per share at any time prior to the date which is 36 months following the closing date.

The Public Offering was conducted by way of a prospectus supplement dated July 16, 2025 to the Company’s base shelf prospectus dated January 23, 2024 in each of the provinces and territories of Canada (excluding Quebec).

The net proceeds from the sale of Units under the Public Offering will be used to advance First Mining’s Springpole and Duparquet gold projects, as well as for general working capital and corporate purposes, as disclosed in the Supplement.

The Units offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 we have commenced a Feasibility Study and permitting activities are on-going with a final Environmental Impact Statement / Environmental Assessment for the project submitted in November 2024, 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 the Cameron Gold Project in Ontario and a portfolio of gold project interests including the Pickle Crow Gold Project (being advanced in partnership with Firefly Metals Ltd.) and the Hope Brook Gold Project (being advanced in partnership with Big Ridge Gold Corp.).

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