Mr. Daniel Wilton reports

FIRST MINING ANNOUNCES 2025 SECOND QUARTER FINANCIAL RESULTS AND OPERATING HIGHLIGHTS

First Mining Gold Corp. has released its second quarter financial results for the quarter ended June 30, 2025. The financial statements and management discussion and analysis (MD&A) are available on First Mining's website and have been posted under the company's profile on SEDAR+ and EDGAR.

"We are pleased to announce a successful second quarter with very positive exploration results at our Duparquet gold project in Quebec," stated Dan Wilton, chief executive officer of First Mining. "As we entered the third quarter, we signed a landmark long-term relationship agreement with Mishkeegogamang First Nation and look forward to that partnership as we continue to advance the Springpole gold project. We are also very proud of the overwhelming support from new and existing shareholders in our recently completed prospectus offering and private placement where we were able to raise over $36-million of new capital and with demand well in excess of the amount we closed upon. The proceeds will allow First Mining to make significant progress at Springpole and Duparquet."

Q2 2025 highlights:

• On April 28, 2025, the company announced the addition of a second drill rig at the Duparquet gold project during the month of April to further advance progress on its 18,000-metre drill program.
• On May 28, 2025, the company announced initial drilling results from its 2025 drill program at the Duparquet project, which confirmed and expanded the known extent of mineralization at the newly discovered Miroir target and intersected the depth extension of mineralization at the Valentre target. Highlights include near-surface mineralization intercepts from drill hole DUP25-052, which returned 2.77 grams per tonne gold over 11.1 metres, including 4.36 g/t Au over 6.5 m, and drill hole DUP25-054, which returned 1.41 g/t Au over 11.9 m, including 2.52 g/t Au over 5.25 m.
• On July 3, 2025, Mishkeegogamang First Nation and the company announced that they signed a long-term relationship agreement covering the Springpole gold project. The agreement sets out a collaborative approach for the development through construction, operations and closure in a manner that respects the environment and provides direct benefits to the first nation.
• On July 14, 2025, the company announced the discovery of the Minuit zone at the Duparquet project, located 75 m north of the historical Donchester mine, which returned multiple significant intercepts in drill hole DUP25-059, highlighted by 2.25 g/t Au over 12.8 m, including 4.08 g/t Au over 4.0 m. In addition to the new discovery, drill hole DUP25-059 further returned an impressive intersection of 1.21 g/t Au over 60.2 m, including 4.1 g/t Au over 4.3 m, within Zone 3 of the project's current resource area, validating large-scale continuity of modelled gold mineralization striking east-west at the southern contact of the Beattie syenite.
• On July 14, 2025, the company announced a marketed public offering of up to 27.8 million units of the company at a price of 18 cents per unit for aggregate gross proceeds to the company of up to $5,004,000. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company at a price of 27 cents per share at any time prior to the date which is 36 months following the applicable closing date. In addition, the company announced a non-brokered private placement of up to 55.6 million units at the unit offering price and up to 22.73 million flow-through units at a price of 22 cents per flow-through unit for total gross proceeds of up to $15,008,600.
• On July 22, 2025, the company closed an upsized marketed public offering of 66.67 million units for total gross proceeds of $12,000,600.
• On July 31, 2025, the company sold its remaining 20-per-cent project interest in the Hope Brook gold project for total consideration comprising $3-million in cash and seven million common shares of Big Ridge.
• On Aug. 5, 2025, the company closed an upsized non-brokered offering of 95 million units for proceeds of $17.1-million and 33.35 million flow-through units for proceeds of $7,337,000. The total proceeds of the non-brokered offering were $24,437,000.
• As of June 30, 2025, the company's cash and marketable securities balance was $5.8-million and the equity interest in PC Gold Inc. (Pickle Crow project) was $21.5-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 the company has commenced a feasibility study and permitting activities are continuing with a final environmental impact statement/environmental assessment for the project submitted in November, 2024, and the Duparquet gold 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 30-per-cent project interest in the Pickle Crow gold project.

First Mining was established in 2015 by Keith Neumeyer, founding president and chief executive officer of First Majestic Silver Corp.

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