Mr. Daniel Wilton reports

FIRST MINING ANNOUNCES SECOND QUARTER 2023 FINANCIAL RESULTS AND OPERATING HIGHLIGHTS

First Mining Gold Corp. has released its second quarter 2023 results for the quarter ended June 30, 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.

"We are pleased to announce another successful quarter at First Mining," stated Dan Wilton, CEO of First Mining. "During Q2 2023, we were very active on the exploration front at both around our Springpole Gold Project in the Birch Uchi and at Duparquet, where results have been encouraging. We continue to advance on environmental and regulatory work at both of our flagship projects. At the corporate level, we successfully held our AGM in June. In addition, we raised $5M in flow-through funding to be deployed at our Duparquet Gold Project as part of our exploration strategy. Lastly, we're very proud to have published our second annual ESG report where we highlight First Mining's commitment, practice, performance in this area, which is a critical part of our business."

Q2 2023 Highlights:

• At Springpole, continued collecting environmental baseline data and advancing environmental assessment work, planning for submission of a final EIS/EA in 2024.
• In the Birch Uchi, delivered results from the winter diamond drilling program, including intersection of significant gold mineralization at the Saddle (0.92 g/t Au over 114 metres) and Horseshoe (0.54 g/t Au over 57 metres) targets.
• At Duparquet, commenced an initial 5,000 metre exploration drilling program focusing on advancing a number of newly developed exploration targets, as well as growing the existing mineral resource and optimization opportunities and as of June 30, 2023, the Company has completed three drill holes for 1,902 meters.
• At Duparquet, filed initial management plan with Quebec Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks for historic mine by-product material
• Successfully held the Company's annual general meeting of shareholders on June 14, 2023, and announced that the Company's shareholders had voted in favour of all matters.
• Completed a non-brokered private placement for aggregate gross proceeds of $5,000,000 consisting of 18,518,519 flow-through units ("FT Units") at a price of $0.27 per FT Unit. Each FT Unit is comprised of one common share and one half of one common share purchase warrant, issued on a flow-through basis, being exercisable to acquire one additional common share of the Company at a price of $0.27 for a period of 36 months following the closing date of the offering.
• Published First Mining's second annual Environmental, Social and Governance ("ESG") Report for the 2022 year ("ESG Report"). The ESG Report provides a comprehensive overview of the Company's ESG commitments, practices and performance.
• Completed the sale of the Company's mining claims in Manitoba (the "Eagle Claims") to Grid Metals Corp. for total consideration comprised of $300,000 in cash, 250,000 common shares of Grid Metals, a future contingent payment of C$350,000 and a 2.0% NSR royalty on the Eagle Claims.

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.

First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic Silver Corp.

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