Cat Lake First Nation, Lac Seul First Nation and First Mining Sign Project Agreement for the Development of the Springpole Gold Project

First Mining Gold Corp. has entered into a definitive Springpole Project Consultation and Benefits Agreement with Cat Lake First Nation and Lac Seul First Nation. The agreement covers the construction, operation, and closure phases of the Springpole Gold Project in northwestern Ontario.

Rooted in a community-led Anishinaabe-led Impact Assessment, the deal includes provisions for environmental stewardship, preferential training and employment, business opportunities, and the sharing of financial benefits and equity participation for the First Nations. Key provisions include participation in environmental management, adaptive management strategies, equity participation in economic upside, and recognition of Anishinaabe culture.

The agreement follows the federal Environmental Assessment approval in June 2026 and the June 16 authorization from the same First Nations following their ALIA process.

First Mining Gold Corp. (FF) announced definitive agreements and Indigenous Land Impact Agreements (ALIA) authorizations, marking a follow-up to the term sheet agreements and ALIA authorizations announced in June 2026. While these partnerships enhance social license and regulatory de-risking, the market had already priced in these Indigenous partnerships given the June milestones and the company's explicit guidance to finalize these agreements in Q3 2026. The agreement does not introduce new financial terms, change the project's capital structure, or alter the development timeline materially. It simply converts previous term sheets into binding, definitive agreements, solidifying the pathway to construction.

First Mining Gold Corp. is a Canadian exploration and development company focused on gold and silver assets. Its flagship asset is the Springpole Gold Project, which is 100% owned and located in northwestern Ontario. The project is considered one of Canada's largest undeveloped gold resources and has advanced to the feasibility stage. Federal environmental assessment approval was received in June 2026, and the company is currently awaiting provincial environmental assessment approval.

The 2025 Preliminary Feasibility Study outlines a 30,000 tonnes per day open-pit operation with a 9.4-year mine life. Average annual production is projected at approximately 330,000 ounces of gold for years one through five. The economic profile includes an after-tax net present value of $2.1 billion at a gold price of $3,100 per ounce, rising to $3.8 billion at $4,200 per ounce. The project carries an after-tax internal rate of return of 41% and a payback period of 1.8 years.

First Mining Gold also holds other assets, including the Duparquet Gold Project in Quebec, which contains 3.44 million ounces of measured and indicated resources. The company holds a 20% interest in the Pickle Crow Gold Project through a joint venture with Bellavista and maintains a 48% stake in Seva Mining Corp., which holds the Cameron Gold Project.