First Mining Announces 2024 Third Quarter Financial Results and Operating Highlights
"We want to thank our new and existing supportive shareholders for a positive third quarter where we were able to successfully add more than
2024 Q3 Highlights:
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On
November 5, 2024 , the Company announced that it submitted the final Environmental Impact Statement / Environmental Assessment ("EIS/EA") for theSpringpole Project . The final EIS/EA submission marks a significant procedural milestone in the advance of theSpringpole Project and follows over two and a half years of consultation and engagement on the draft EIS/EA submitted inMay 2022 . The Project is being assessed by theImpact Assessment Agency of Canada in accordance with the Canadian Environmental Assessment Act (CEAA, 2012) and by theMinistry of Environment Conservation and Parks underOntario's Environmental Assessment Act. -
On
October 31, 2024 , the Company announced that it entered into a Process Agreement withCat Lake First Nation andLac Seul First Nation which provides important capacity support for the implementation of a community-based Anishinaabe-Led Impact Assessment ("ALIA"). -
As of
September 30, 2024 , the Company's cash and current investments balance was$13.8 million and the equity interest inPC Gold Inc. (Pickle Crow Project ) was$21.5 million , resulting in a combined carrying value of$35.3 million . -
On
September 26, 2024 , the Company completed a brokered bought deal public offering raising aggregate gross proceeds of$8,050,023 which consisted of 59,629,800 units of the Company at a price of$0.135 per unit and subsequent to the end of the third quarter, onOctober 10, 2024 , completed a non-brokered private placement for$7,352,600 in aggregate gross proceeds raised through the issuance of 54,463,706 units of the Company at a price of$0.135 per unit. Each unit consisted of one common share and one half of one common share purchase warrant with each full common share purchase warrant being exercisable to acquire one additional common share of the Company at an exercise price of$0.20 for a period of 36 months following the closing date of each offering. -
On
September 9, 2024 , the Company announced four newly discovered gold mineralization occurrences at the Challenger Target, including channel sample results grading up to 6.53g/t Au over 3 m, and including grab samples grading up to 26.6 g/t, 20.3 g/t and 7.7 g/t Au. The new occurrences were identified during their summer follow up mapping program in the Challenger target area. -
On
August 28, 2024 , the Company announced further drilling results from the 2024 Phase 3 diamond drilling program atDuparquet . These results further defined resource expansion opportunities at the Valentre target. The Phase 3 program was completed inOctober 2024 , comprising 24 holes over 9,564 m, and assay results are in progress.
About First Mining Gold Corp.
First Mining is a gold developer advancing two of the largest gold projects in
First Mining was established in 2015 by Mr.
ON BEHALF OF FIRST MINING GOLD CORP.
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
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. 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, 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, 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
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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