First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the closing of its previously announced bought deal public offering of 59,629,800 units of the Company at a price of $0.135 per Unit for aggregate gross proceeds of $8,050,023, which includes the exercise of the full amount of the over-allotment option granted to the underwriters of 7,777,800 Units.

The Offering was completed pursuant to an underwriting agreement dated September 23, 2024, among the Company, Cormark Securities Inc. and Haywood Securities Inc., as co-lead underwriters and joint bookrunners, and Ventum Financial Corp., BMO Capital Markets and H.C. Wainwright & Co., LLC.

Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant. Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.20 per share at any time prior to the date which is 36 months from the closing of the Offering.

The net proceeds from the Offering will be used to advance First Mining’s Springpole and Duparquet gold projects, as well as for general working capital and corporate purposes.

The Offering was conducted by way of a prospectus supplement dated September 23, 2024  to the Company’s existing short form base shelf prospectus dated January 23, 2024 in each of the provinces of Canada (other than the province of Québec). The Prospectus Supplement (together with the Base Shelf Prospectus) is available on SEDAR+ at www.sedarplus.ca.

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 draft Environmental Impact Statement for the project published in June 2022, and the Duparquet 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.