Mr. Daniel Wilton reports

FIRST MINING COMPLETES $5 MILLION FLOW-THROUGH FINANCING

First Mining Gold Corp. has completed a flow-through equity financing by way of a non-brokered private placement for aggregate gross proceeds of $5-million. The offering consisted of 18,518,519 flow-through units of the company at a price of 27 cents per FT unit.

Each FT unit comprises one common share and one-half common share purchase warrant, issued on a flow-through basis, with each full common share purchase warrant being exercisable to acquire one additional common share of the company at a price of 27 cents for a period of 36 months following the closing date of the offering. The common shares underlying the warrants will not be issued as flow-through shares.

The common shares that comprise the FT units qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec)). The gross proceeds from the offering will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures (as both terms are defined in the Income Tax Act (Canada)) related to the company's Duparquet gold project and its other mineral projects in Quebec. The qualifying expenditures will be renounced in favour of the subscribers of the offering with an effective date of no later than Dec. 31, 2024, and in an aggregate amount of not less than the total amount of the gross proceeds raised from the offering.

The FT units issued under the offering are subject to a statutory hold period of four months and one day from the issuance of the units, expiring on Oct. 24, 2023.

About First Mining Gold Corp.

First Mining is a gold developer advancing two of the largest gold projects in Canada: (i) the Springpole gold project in Northwestern Ontario, where it has begun a feasibility study and permitting activities are continuing with a draft environmental impact statement for the project published in June, 2022, and (ii) the Duparquet, Pitt, 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.