VANCOUVER, BC, Feb. 8, 2022 /PRNewswire/ - First Mining Gold
Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX:
FFMGF) (FRANKFURT: FMG) is pleased to announce that it has
acquired, from two individuals, an aggregate of 286,904 common
shares ("Shares") of Beattie Gold Mines Ltd. ("Beattie"), a private
company that owns the mineral rights to mining claims that make up
the former Beattie mining concession that form a large part of the
Duparquet Gold Project located on the Destor-Porcupine Fault in
Québec (the "Transaction"). The per Share consideration paid
under the Transaction was C$4.44 cash
per Beattie Share and 26.62 common
shares of First Mining per Beattie
Share for a total consideration of C$1,272,824 in cash and 7,636,944 First Mining
common shares. Together with the 187,839 common shares of
Beattie already owned by Clifton Star Resources Inc., a
wholly-owned subsidiary of First Mining, the Company now owns
474,743 shares of Beattie, increasing its ownership in Beattie from
10% to 25.3% of the issued and outstanding common shares of
Beattie.
For more information on the Duparquet Gold Project, please
visit:
https://firstmininggold.com/projects/other-wholly-owned/duquesne-duparquet-pitt-projects/.
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 a draft Environmental Assessment ("EA") and Environmental
Impact Statement ("EIS") for the project targeted for 2022.
The Company also holds a large equity position in
Treasury Metals Inc. who are advancing the Goliath Gold
Complex toward construction. First Mining's portfolio of gold
projects in eastern Canada also
includes the Pickle Crow (being advanced in partnership with Auteco
Minerals Ltd.), Hope Brook
(being advanced in partnership with Big Ridge Gold Corp.),
Cameron, 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.
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 and
include, but are not limited to, statements with respect to: (i)
the Company's plans with respect to its mineral properties; (ii)
the merits of the Springpole Project; (iii) permitting activities
related to the Springpole Project and the timing of the submission
of the EA and EIS; (iv) Treasury Metals Inc. and the status of the
Goliath Gold Complex; and (v) the Company's portfolio of gold
projects in eastern Canada . 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 reflect
the beliefs, opinions and projections 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,
such as COVID-19, and by reactions by government and private actors
to such outbreaks; risks to employee health and safety as a result
of the outbreak of epidemics, pandemics or other health crises,
such as COVID-19, that may result in a slowdown or temporary
suspension of operations at some or all of the Company's mineral
properties as well as its head office; 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; 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 properties.; and the
additional risks described in the Company's Annual Information Form
for the year ended December 31, 2020
filed with the Canadian securities regulatory authorities under the
Company's SEDAR profile at www.sedar.com, and in the Company's
Annual Report on Form 40-F filed with the SEC on EDGAR.
First Mining cautions that the foregoing list of factors that
may affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to First
Mining, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
First Mining does not undertake to update any forward-looking
statement, whether written or oral, that may be made from time to
time by the Company or on our behalf, except as required by
law.
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SOURCE First Mining Gold Corp.