Mr. Keith Neumeyer reports

FIRST MINING ENTERS INTO DEBT SETTLEMENT AGREEMENT

First Mining Finance Corp. has entered into a debt settlement agreement with First Majestic Silver Corp. pursuant to which First Mining has agreed to settle all of the outstanding debt owed by its wholly owned subsidiary, KCP Minerals Inc., to the creditor.

As of the date hereof, the approximate amount of the debt owed by the subsidiary to the creditor is $1,175,000 (U.S.), which is payable pursuant to the terms of loan agreements between the creditor and the subsidiary dated Nov. 14, 2013, March 21, 2014, and Jan. 15, 2015. Under the terms of the agreement, First Mining intends to settle $500,000 (U.S.) ($656,350 (Canadian) based on the Bank of Canada noon rate as of July 11, 2016) of the debt through the issuance of 820,440 common shares of First Mining issued at a deemed price of 80 Canadian cents per share. The remaining debt will be paid in cash by First Mining in 12 equal monthly instalments in accordance with the terms of the agreement.

Completion of the debt settlement remains subject to the approval of the TSX Venture Exchange. All shares issued pursuant to the debt settlement will be subject to a four-month hold period, which will expire on the date that is four months and one day from the issue date of such shares.

We seek Safe Harbor.