Mr. Daniel Wilton reports

FIRST MINING ANNOUNCES FIRST QUARTER 2023 FINANCIAL RESULTS AND OPERATING HIGHLIGHTS

First Mining Gold Corp. has released its first quarter 2023 results for the quarter ended March 31, 2023. The financial statements and management's discussion and analysis ("MD&A") are available on First Mining's website at www.firstmininggold.com/investors/reports-filings/financials/ and have been posted under the Company's profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

"This has been an active quarter for First Mining for exploration activities at Springpole and Duparquet," stated Dan Wilton, CEO of First Mining. "During Q1 2023, we embarked on our first district scale exploration program in the Birch-Uchi Greenstone Belt near our Springpole Gold Project and began preparations for an exploration program at our Duparquet Gold Project. In addition, we were able to consolidate a strategic regional property package at Duparquet in the Abitibi, one of the most prolific gold camps in Quebec and also raised C$6.7 million in non-dilutive financing by completing the sale of our non-core royalties. We continue to advance feasibility level work at Springpole and are making great progress on a PEA at the Duparquet project where we expect to have it complete before the end of the year."

Q1 2023 Highlights:

Continued advancing Feasibility Study work activities at the Company's Springpole Gold Project, including metallurgical test work, process design, preliminary pit slope guidelines and mine design, optimization studies on the Co-Disposal Facility, and transmission line design

Completed a district-scale exploration program in the Birch-Uchi Greenstone Belt, which included widespread initial screening campaigns comprised of geochemical, geological, and geophysical surveys and diamond drilling

3D foundational geoscience models supporting lithology, structure, and mineralization were completed for the Duparquet Gold Project and utilized in targeting ongoing strategic exploration

Commenced mobilization on an initial 5,000 metre exploration drilling program at the Duparquet Gold Project, which will focus on advancing a number of newly developed exploration targets, as well as resource growth and optimization opportunities

Through the Company's wholly-owned subsidiary Duparquet Gold Mines Inc. (formerly, Clifton Star), completed the acquisition of the Porcupine East property from IAMGOLD Corporation, consolidating the Company's Duparquet Gold Project and connecting the land package to its Pitt and Duquesne projects to the east

Completed the sale of all of the common shares of a wholly-owned subsidiary of the Company that held its non-core royalty portfolio to Elemental Altus Royalties Corp. for approximately $4.7 million in cash and 1,598,162 common shares of Elemental Altus for total consideration of approximately $6.7 million

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 we have commenced a Feasibility Study and permitting activities are on-going with a draft Environmental Impact Statement ("EIS") for the project published in June 2022, and the Duparquet, Pitt Gold, Duquesne and Porcupine East Gold Project in Quebec, a collection of advanced-stage development assets located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project in Ontario and a portfolio of gold project interests including the Pickle Crow Gold Project (being advanced in partnership with Auteco Minerals Ltd.), the Hope Brook Gold Project (being advanced in partnership with Big Ridge Gold Corp.), and a large equity interest in Treasury Metals Inc.

We seek Safe Harbor.