First Mining files NI 43-101 PFS report for Springpole

Mr. Daniel Wilton reports FIRST MINING FILES PRE-FEASIBILITY STUDY TECHNICAL REPORT FOR THE SPRINGPOLE GOLD PROJECT, ONTARIO, CANADA First Mining Gold Corp. has filed on SEDAR+ an independent prefeasibility study (2025 PFS) technical report for its 100-per-cent-owned Springpole gold project located in Ontario, Canada. The report, entitled "Springpole Gold Project NI 43-101 Technical Report and Pre-Feasibility Study, Ontario, Canada," was prepared by Ausenco Engineering Canada ULC of Vancouver, Canada, in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and has an effective date of Dec. 1, 2025. The 2025 PFS results support a 30,000-tonne-per-day (tpd) open pit mining operation. 2025 PFS highlights $3.2-billion (U.S.) pretax net present value at a 5-per-cent discount rate (NPV 5 per cent) at $3,100 (U.S.)/oz gold (Au), increasing to $5.6-billion (U.S.) at $4,200 (U.S.)/oz Au; $2.1-billion (U.S.) after-tax NPV 5 per cent at $3,100/oz Au, increasing to $3.8-billion (U.S.) at $4,200 (U.S.)/oz Au; 54-per-cent pretax internal rate of return (IRR) at $3,100 (U.S.)/oz increasing to 82 per cent at $4,200/oz Au; 41-per-cent after-tax IRR at $3,100 (U.S.)/oz Au increasing to 63 per cent at $4,200 (U.S.)/oz Au; Life of mine (LOM) of 9.4 years; After-tax payback of 1.8 years and reducing to 1.2 years at $4,200 (U.S.)/oz Au; Initial capital costs estimated at $1,104-million (U.S.), sustaining capital costs estimated at $323-million (U.S.), plus $40-million (U.S.) in closure costs (excluding plant closure); Average annual payable gold production of 330,000 ounces per year (years 1 to 5); 281,000 oz per year LOM; Total net cash costs of $742 (U.S.)/oz (years 1 to 5); and $802 (U.S.)/oz LOM; Net all-in sustaining costs (AISC) of $877 (U.S.)/oz (years 1 to 5) and AISC $938 (U.S.)/oz (LOM). Qualified person Hazel Mullin, PGeo, director, data management and technical services of First Mining, is a qualified person for the purposes of NI 43-101 -- Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical disclosure contained in this news release. 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 the company has commenced a feasibility study and permitting activities are continuing 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 30-per-cent project interest in the Pickle Crow gold project. First Mining was established in 2015 by Keith Neumeyer, founding president and chief executive officer of First Majestic Silver Corp. We seek Safe Harbor.