First Mining Announces 2026 First Quarter Financial Results and Operating Highlights

• First Mining Gold Corp. reported Q1 2026 financial results on May 13, 2026, confirming a cash and marketable securities balance of $44.8 million as of March 31, 2026.
• The company closed the sale of its Cameron Gold Project to Seva Mining Corp., receiving $5 million in cash, 80 million shares of Seva (valued at $30 million), and a future minimum payment of $2 million.
• First Mining's interest in the Pickle Crow Gold Project was reduced from 30% to 20% following a $3 million buy-down by joint-venture partner Bellavista Resources Ltd., with the remaining interest free carried until a mining decision.
• Significant drilling intercepts were reported at the Miroir target within the Duparquet Gold Project, including 7.18 g/t Au over 8.0m and 30.58 g/t Au over 1.65m.
• Springpole Gold Project Environmental Assessment (EA) decision date was voluntarily extended to June 30, 2026, with First Nations votes scheduled for June 4, 2026.

• The Q1 financial results confirm the company has maintained a strong liquidity position ($44.8M), consistent with year-end 2025 figures ($45.3M), indicating effective capital preservation following recent financings and asset sales.
• The Cameron Gold Project sale is fully closed, converting non-core assets into cash and equity in Seva Mining; this reduces operational complexity but introduces exposure to Seva's stock performance (80 million shares).
• The Pickle Crow buy-down by Bellavista Resources removes immediate capital expenditure obligations for First Mining on that project while retaining a carried interest, which is positive for cash flow management.
• Duparquet drilling results are high-grade and consistent with previous announcements; however, they do not represent a new resource expansion beyond the existing PEA stage targets, limiting immediate material upside relative to prior expectations.
• The Springpole EA extension is expected given the complexity of Indigenous engagement (ALIA vote June 4); this does not materially alter the timeline but confirms regulatory caution remains in play.

• Company: First Mining Gold Corp. operates primarily in Canada with projects in Ontario (Springpole) and Quebec (Duparquet).
• Flagship Project: Springpole Gold Project is the primary development asset, a 100% owned open-pit gold-silver project in northwestern Ontario.
• Project Status: Pre-Feasibility Study (PFS) filed December 2025 shows robust economics ($3.2B NPV at $1,300/oz Au), but requires significant capital to advance to construction.
• Secondary Projects: Duparquet Gold Project is in exploration/PEA stage with high-grade drilling success; Pickle Crow is a JV asset with reduced ownership; Cameron was divested to Seva Mining.