First Mining Announces $50 Million Bought-Deal Offering of Common Shares

First Mining Gold Corp. announced a $50 million bought-deal offering of 59,530,000 common shares at $0.84 per share. Gross proceeds total approximately $50,005,200, with an over-allotment option for up to 15% additional shares. Net proceeds will be allocated to advancing the Springpole and Duparquet gold projects, general working capital, and corporate purposes. The offering is conducted via a prospectus supplement to the company's base shelf prospectus, with closing expected on or about September 24, 2026. Underwriters include Haywood Securities Inc., ATB Cormark Capital Markets, and National Bank Financial Inc.

First Mining Gold Corp. (FF) secured financing to fund the transition of its Springpole project from a Pre-Feasibility to a Feasibility Study, alongside provincial permitting and continued exploration at Duparquet. The capital raise was priced at $0.84 per share, representing approximately a 7% discount to the Sept 17 market close of $0.90. This pricing structure is standard for bought-deal financings but introduces immediate dilution of approximately 4.2% on a fully diluted basis.

The raise aligns with the company's stated need to fund development activities following the federal Environmental Assessment (EA) approval in June 2026. With a prior balance of $40.5 million, the transaction is expected to mitigate near-term liquidity risk and extend the company's cash runway well into 2027.

First Mining Gold Corp. is a Canadian exploration and development company focused on gold and silver projects in Ontario and Quebec. Its flagship asset is the 100%-owned Springpole Gold Project in Ontario, which represents one of Canada's largest undeveloped gold resources. The project received federal environmental assessment approval in June 2026. A preliminary feasibility study indicates a 9.4-year mine life with approximately 330,000 ounces of gold per year in production, alongside strong economics showing a net present value of $2.1 billion at $3,100 per ounce of gold.

The company also holds the Duparquet Gold Project in Quebec, which is at the preliminary economic assessment stage. This asset contains 3.44 million ounces of measured and indicated resources and 2.64 million ounces of inferred resources. Active exploration drilling is currently targeting the Miroir and other high-grade zones.

Other assets include a 20% interest in Pickle Crow, a joint venture with Bellavista, and a 48% stake in Seva Mining, which owns the Cameron Gold Project. The company is led by Chairman Keith Neumeyer and CEO Dan Wilton, with a focus on mergers and acquisitions, corporate finance, and mining development.