First Mining Gold (FF) Corporate presentation summary

Portfolio overview

• Two flagship Canadian gold projects hold 8.24 Moz Au in Measured & Indicated resources and 3.69 Moz Au Inferred, including the 20% Pickle Crow interest.

• At Oct. 30, 2026, shares were C$0.56; pro forma for a C$58M financing, shares outstanding were 1.504B and estimated cash was ~C$80M.

• The presentation cites relative valuation of US$45/oz and 0.17x P/NAV, versus peer figures of US$66–599/oz and 0.28x–0.74x P/NAV.

Springpole

• Probable reserves total 3.1 Moz Au at 0.94 g/t and 16.1 Moz Ag at 4.9 g/t; PFS projects 330 koz average annual gold production in years 1–5.

• 2025 PFS base case at US$3,100/oz Au: post-tax NPV5% US$2.1B, IRR 40.8%, initial capex US$1.104B, 2.6 Moz recovered Au and 1.8-year payback.

• Federal EA approval was granted in June 2026 and agreements were signed with all key Indigenous communities; provincial EA decision is a next milestone.

• A 7,000 m, 18-hole Phase 2 program targeting near-pit extensions was completed in July 2026, with results expected through Q4 2026; Birch-Uchi tenure spans over 75,000 ha.

Duparquet

• Resources total 3.4 Moz Au Indicated at 1.55 g/t and 2.6 Moz Inferred at 1.62 g/t; the project lies along 19 km of the Destor-Porcupine Fault Zone.

• 2023 PEA at US$1,800/oz Au projects C$588M post-tax NPV5%, 18% IRR, C$706M initial capital and 4.8-year payback; PEA results are preliminary.

• PEA forecasts 233 koz average annual recovered Au over 11 years and LOM AISC of US$976/oz, with potential feed from resource expansion and satellite deposits.

• 2026 work plan calls for ~15,000 m of drilling focused on Miroir, CVD and resource confidence; an Indigenous-led drilling partnership was established with Forage Anicinape.

• Exploration highlights include CVD mineralization demonstrated over 1.5 km and North Zone intercepts including 15.14 g/t Au over 5.0 m; Minuit and Buzz are additional discovery zones.