Mr. Daniel Wilton reports

FIRST MINING CLOSES FINAL TRANCHE OF UPSIZED $10.8 MILLION EQUITY FINANCING

First Mining Gold Corp. has further upsized and closed its previously announced non-brokered private placement financing, raising total gross proceeds of approximately $10.8-million across two tranches of the offering.

Pursuant to the second and final tranche of the offering, the company issued 22,668,000 units of the company at a price of 12.5 cents per unit for gross proceeds of $2,833,500. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share of the company at an exercise price of 20 cents per warrant share at any time prior to the date which is 36 months following the closing date of the final tranche. The company raised approximately $8-million under the first tranche of the offering (see news release dated Nov. 21, 2023).

The company intends to use the net proceeds from the offering to advance its Springpole and Duparquet gold projects, as well as for general working capital and corporate purposes.

All of the securities issued under the final tranche are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws. The offering remains subject to the receipt of all necessary regulatory approvals, including the final approval of the Toronto Stock Exchange (the TSX).

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 it has commenced a feasibility study and permitting activities are continuing with a draft environmental impact statement for the project published in June, 2022, and the Duparquet project in Quebec, a preliminary-economic-assessment-stage development project 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 Keith Neumeyer, founding president and chief executive officer of First Majestic Silver Corp.

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