First Mining Gold (FF) Q2 2024 earnings summary

Executive summary

• Closed an upsized flow-through financing in June 2024, raising approximately $7 million to fund exploration in Ontario and Quebec.

• Advanced environmental assessment work at Springpole, targeting submission of the final EIS/EA in 2024.

• Completed a 3-year option agreement for 70% ownership of the Swain Lake property in Birch-Uchi, covering 1,656 hectares.

• Published the third annual ESG Report for 2023, highlighting commitments and performance.

Financial highlights

• Cash and current investments totaled $13.2 million as of June 30, 2024.

• Equity interest in PC Gold Inc. (Pickle Crow Project) valued at $21.5 million, for a combined carrying value of $34.7 million.

Outlook and guidance

• Final stages of environmental assessment preparation at Springpole, with submission planned before year-end.

• Ongoing feasibility study and permitting activities at Springpole.

• Continued exploration and drilling at Duparquet, with a 9,000-metre Phase 3 program underway.