First Mining Gold (FF) Corporate presentation summary

Strategic positioning and asset overview

• Controls two of the largest undeveloped gold projects in Canada, with a total resource base of 8.2 Moz Au M&I and 3.8 Moz Au Inferred.

• Flagship assets are Springpole (Ontario) and Duparquet (Quebec), both advancing through feasibility and permitting stages.

• Additional interests include Pickle Crow (30% JV), Seva Mining, and Cameron Gold Project (48% ownership).

• Portfolio diversification provides optionality and financing flexibility, supported by recent non-core asset sales.

• Trades at a significant discount to peers, with a P/NAV of 0.16x versus advanced developers at 1.02x.

Springpole Gold Project highlights

• Probable reserves of 102 Mt grading 0.94 g/t Au (3.1 Moz) and 4.9 g/t Ag (16.1 Moz).

• Updated PFS (Dec 2025): post-tax NPV5% of US$2.1B, IRR 41%, 1.8-year payback at US$3,100/oz gold.

• Average annual gold production of 330 koz in years 1–5, with total LOM production of 2.6 Moz Au.

• Initial capex of US$1.1B, LOM AISC of US$938/oz, and strong leverage to gold price increases.

• Ongoing exploration and expansion potential in the Birch-Uchi district (>75,000 ha), with recent drilling confirming mineralization extensions.

Duparquet Gold Project highlights

• NI 43-101 resource: 69 Mt at 1.55 g/t Au (3.4 Moz Indicated), 50.8 Mt at 1.62 g/t Au (2.6 Moz Inferred).

• PEA (Nov 2023): post-tax NPV5% of C$588M, IRR 18% at US$1,800/oz gold, 11-year mine life.

• Average annual recovered gold production of 233 koz, LOM AISC below US$1,000/oz.

• Multiple satellite and brownfield exploration targets, with recent drilling expanding mineralization at Valentre, Miroir, Buzz, and Minuit.

• Located in the prolific Abitibi gold belt, with strong infrastructure and experienced environmental team.