VANCOUVER, BC, Oct. 23,
2023 /CNW/ - First Mining Gold Corp. ("First
Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF)
(FRANKFURT: FMG) is pleased to announce that the Company has filed
on SEDAR+ an independent Preliminary Economic Assessment ("PEA")
technical report (the "Report") for its 100%-owned Duparquet Gold
Project ("Duparquet" or the "Project") located in the Abitibi
region of Quebec,
Canada.
The Report, entitled "NI 43-101 Technical Report: Preliminary
Economic Assessment on the Duparquet Gold Project, Quebec, Canada" was prepared by G Mining
Services Inc. of Montreal, Quebec
("G Mining") in accordance with National Instrument 43-101
Standards of Disclosure for Mineral Projects ("NI 43-101") and has
an effective date of September 15,
2023.
The PEA results support a 15,000 tonnes per day open pit and
underground mining operation over an 11-year mine life.
Highlights include:
- C$1.07 billion pre-tax
NPV5% and C$588 million
after-tax NPV5% at US$1,800/oz gold ("Au")
- 24.9% pre-tax IRR; 18.0% after-tax IRR at US$1,800/oz Au
- Annual Life-of-Mine ("LOM") recovered gold production of 233
koz
- Total LOM recovered gold of 2.5 Moz over an 11-year mine
life
- Pre-tax payback of 3.8 years; after-tax payback of 4.8
years
- Initial capital costs estimated at C$706
million; sustaining and underground development capital
costs estimated at C$738 million
- Average annual LOM Total Cash Cost of US$751/oz(1); average annual LOM
All-In Sustaining Costs ("AISC") of US$976/oz(2)
|
Note: Base case
parameters assume a gold price of US$1,800/oz and an exchange rate
(C$ to US$) of 1.33. All currencies are reported in Canadian
dollars unless otherwise specified. NPV calculated as of the
commencement of construction and excludes all pre-construction
costs.
|
|
(1) Total Cash Costs
consist of mining costs, processing costs, mine-level G&A,
treatment and refining charges and royalties.
|
|
(2) AISC includes total
cash costs plus sustaining capital, development capital and closure
costs.
|
PEA Overview
The Duparquet Gold Project, located in the Abitibi region of
Quebec, Canada, is one of the
largest undeveloped gold projects in North America. The Project is located
immediately north of the town of Duparquet which is approximately 50 kilometres
northwest of Rouyn-Noranda,
Quebec, a major mining service centre and home to the only
remaining copper smelter in Canada. Duparquet currently hosts 3.4 million ounces
of gold in the Indicated Mineral Resource category and 2.6 million
ounces of gold in the Inferred Mineral Resource category, as set
out in Table 4 in the Mineral Resource Estimate section.
The PEA evaluates recovery of gold from a 15,000 tonne-per-day
("tpd") open pit and underground mining operation, with a process
plant that includes crushing, grinding, and flotation, producing a
concentrate for sale. The PEA only considers the Duparquet gold deposit located on the Beattie,
Donchester, Central Duparquet and
Dumico claim blocks and does not include the Pitt Gold and
Duquesne deposits (see Mineral Resource
Estimate section).
Table 1: Key PEA Assumptions and Project Economics
(1)
Key
Assumptions
|
Unit
|
LOM
|
Gold Price
|
US$/oz
|
US$1,800/oz
|
Exchange
Rate
|
C$:US$
|
1.33
|
Production
Profile
|
Unit
|
LOM
|
Total Open Pit
Tonnage
|
Mt
|
282.0
|
Total Open Pit
Mineralized Material Mined
|
Mt
|
43.6
|
Open Pit Strip
Ratio
|
w:o
|
5.4
|
Total Underground
Mineralized Material Mined
|
Mt
|
12.0
|
Total Mineralized
Material Mined from Historic Tailings
|
Mt
|
4.1
|
Total Tonnes
Processed
|
Mt
|
59.7
|
Daily
Throughput
|
tpd
|
15,000
|
Mill Grade
|
g/t Au
|
1.51
|
Mine Life
|
Years
|
11 years
|
Gold Recovery to
Concentrate
|
%
|
89.5 %
|
LOM Metal
Recovered
|
koz Au
|
2,595 koz Au
|
Average Annual
Recovered
|
koz Au
|
233 koz Au
|
Operating Costs
(US$/oz)
|
Unit
|
LOM
|
Total Cash Costs
(2)
|
US$/oz
|
$751
|
AISC
(3)
|
US$/oz
|
$976
|
Capital
Expenditures
|
Unit
|
LOM
|
Initial
Capital
|
C$M
|
C$706
|
Sustaining and
Development Capital
|
C$M
|
C$738
|
Closure
Costs
|
C$M
|
$30
|
Estimated Salvage
Value
|
C$M
|
($36)
|
Economics
|
Unit
|
LOM
|
NPV at 5%
(pre-tax; post-tax)
|
C$M
|
C$1,073;
C$588
|
IRR (pre-tax;
post-tax)
|
%
|
24.9%; 18.0%
|
Payback (pre-tax;
post-tax)
|
Years
|
3.8 years; 4.8
years
|
(1)
|
The reader is advised
that the PEA is preliminary in nature and is intended to provide
only an initial, high-level review of the Project potential and
design options. The PEA mine plan and economic model include
numerous assumptions and the use of Inferred mineral resources.
Inferred mineral resources are considered too speculative
geologically to have the economic considerations applied to them
that would enable them to be categorized as mineral reserves and to
be used in an economic analysis except as allowed for in PEA
studies. There is no guarantee that Inferred resources can be
converted to Indicated or Measured resources, and as such, there is
no certainty that the PEA or Project economics described herein
will be realized or achieved.
|
(2)
|
Total Cash costs
consist of mining costs, processing costs, mine-level G&A,
treatment and refining charges and royalties.
|
(3)
|
AISC includes total
cash costs plus sustaining capital, development capital and closure
costs.
|
Mineral Resource
Estimate
In September 2022, the Duparquet
Gold Project Mineral Resource Estimate ("MRE") was updated by
InnovExplo Inc. in accordance with NI 43-101. (See news release of
September 12, 2022 for more details)
The Duparquet Gold Project contains 3.44 million ounces of gold in
the Measured & Indicated category, grading 1.55 g/t Au, and an
additional 1.64 million ounces of gold in the Inferred category,
grading 1.36 g/t Au (see Table 2).
In September 2023, new updated
Mineral Resource Estimates were completed on First Mining's 100%
owned Pitt Gold and Duquesne projects
and have added 1.0 million ounces of gold grading 2.32 g/t Au in
the Inferred category (see Table 3), which will now form part of
the larger consolidated Duparquet Gold Project. During the
final validation and completion of the Report, minor adjustments
were made to the Pitt Gold deposit MRE statement disclosed in the
September 7, 2023 press
release. The adjustments are presented in table 3 and 4 of
this release for the Pitt Gold deposit and the consolidated 2023
MRE, respectively.
Following the updated Mineral Resource Estimate at Pitt Gold and
Duquesne, the consolidated Duparquet
Project now contains 3.44 million ounces of gold in the
Measured & Indicated category, grading 1.55 g/t Au, and an
additional 2.64 million ounces of gold in the Inferred category,
grading 1.62 g/t Au.
Table 2: Duparquet Deposit Mineral Resource Estimate
(Effective September 12,
2022)
Area
(potential
mining
method)
|
Cut-off
(g/t)
|
Measured
resource
|
Indicated
resource
|
Inferred
resource
|
|
Tonnage
(t)
|
Au
(g/t)
|
Ounces
|
Tonnage
(t)
|
Au
(g/t)
|
Ounces
|
Tonnage
(t)
|
Au
(g/t)
|
Ounces
|
|
|
|
|
Open Pit
|
0.40
|
163,700
|
1.37
|
7,200
|
59,410,600
|
1.52
|
2,909,600
|
28,333,000
|
1.07
|
970,400
|
|
UG Mining
|
1.50
|
-
|
-
|
-
|
5,506,900
|
2.26
|
399,300
|
9,038,900
|
2.29
|
665,600
|
|
Tailings
|
0.40
|
19,900
|
2.03
|
1,300
|
4,105,200
|
0.93
|
123,200
|
-
|
-
|
-
|
|
Total
|
|
183,600
|
1.43
|
8,500
|
69,022,700
|
1.55
|
3,432,100
|
37,371,900
|
1.36
|
1,636,000
|
|
Table 3: Pitt Gold (Adjusted) and Duquesne Deposits Mineral
Resource Estimate (Effective September 15,
2023) (not included in the PEA)
Area
(Potential mining
method)
|
Cut-off
(g/t)
|
Pitt Gold Inferred
Resource
|
Duquesne Inferred
resource
|
|
Tonnage
(t)
|
Au
(g/t)
|
Ounces
|
Tonnage
(t)
|
Au
(g/t)
|
Ounces
|
|
|
|
|
Open Pit
|
0.50
|
-
|
-
|
-
|
6,300,000
|
1.56
|
316,000
|
|
UG Mining
|
1.75
|
2,120,000
|
2.75
|
187.200
|
5,030,000
|
3.10
|
501,400
|
|
Total
|
|
2,120,000
|
2.75
|
187.200
|
11,330,000
|
2.24
|
817,400
|
|
Table 4: Duparquet Gold Project Consolidated Mineral Resource
Estimate (Effective August 31,
2023)*
Area
|
Total Measured
Resource
|
Total Indicated
Resource
|
Total Inferred
Resource
|
(Potential
mining method)
|
Tonnage
(t)
|
Au
|
Ounces
|
Tonnage
(t)
|
Au
|
Ounces
|
Tonnage
(t)
|
Au
|
Ounces
|
|
(g/t)
|
(g/t)
|
(g/t)
|
Open Pit
|
163,700
|
1.37
|
7,200
|
59,410,600
|
1.52
|
2,909,600
|
34,633,000
|
1.16
|
1,286,400
|
UG Mining
|
-
|
-
|
-
|
5,506,900
|
2.26
|
399,300
|
16,189,000
|
2.60
|
1,354,100
|
Tailings
|
19,900
|
2.03
|
1,300
|
4,105,200
|
0.93
|
123,200
|
-
|
-
|
-
|
Total
|
183,600
|
1.43
|
8,500
|
69,022,700
|
1.55
|
3,432,100
|
50,822,000
|
1.62
|
2,640,500
|
*Refer to
respecti0ve deposit resource estimate table for cut-off grade;
adjusted for Pitt Gold
|
Notes to accompany
the Duparquet Gold Project Mineral Resource
Estimates:
|
|
1.
|
The independent
qualified persons for the Duparquet mineral resource estimate, as
defined by NI 43-101, are Marina Iund, P.Geo., Carl Pelletier,
P.Geo. and Simon Boudreau, P.Eng. from InnovExplo. The effective
date of the estimate is September 12, 2022.
|
2.
|
The independent
qualified persons for the Pitt Gold and Duquesne mineral
resource estimates, as defined by NI 43 101, are Olivier
Vadnais-Leblanc, P.Geo., Carl Pelletier, P.Geo., and Simon
Boudreau, P.Eng. from InnovExplo. The effective date of the
estimate is September 15, 2023.
|
3.
|
These mineral resources
are not mineral reserves, as they do not have demonstrated economic
viability. There is currently insufficient data to define these
Inferred mineral resources as Indicated or Measured mineral
resources and it is uncertain if further exploration will result in
upgrading them to an Indicated or Measured mineral resource
category. The mineral resource estimate follows current CIM
Definition Standards.
|
4.
|
The results are
presented in situ and undiluted and have reasonable prospects of
eventual economical extraction.
|
5.
|
In-pit and Underground
estimates encompass sixty (60) mineralized domains and one dilution
envelop using the grade of the adjacent material when assayed or a
value of zero when not assayed; The tailings estimate encompass
four (4) zones.
|
6.
|
Duparquet: In-pit and
Underground: High-grade capping of 25 g/t Au; Tailings: High-grade
capping of 13.0 g/t Au for Zone 1, 3.5 g/t Au for Zone 2, 1.7 g/t
Au for Zone 3 and 2.2 g/t Au for Zone 4. High-grade capping
supported by statistical analysis was done on raw assay data before
compositing.
|
7.
|
Pitt Gold: Underground:
High-grade capping of 20 g/t Au. High-grade capping supported by
statistical analysis was done on composited assays.
|
8.
|
Duquesne: In-pit and
Underground: High-grade capping of 55 g/t Au. High-grade capping
supported by statistical analysis was done on composited
assays.
|
9.
|
In-pit and Underground:
For Duparquet, the estimate used a sub-block model in GEOVIA SURPAC
2021 with a unit block size of 5m x 5m x 5m and a minimum block
size of 1.25m x 1.25m x1.25m. For Pitt Gold and Duquesne, the
estimates used a sub-block model in GEOVIA SURPAC 2023 with a unit
block size of 6m x 6m x 6m and a minimum block size of 1.5m x 0.5m
x0.5m. Grade interpolations were obtained by ID2 using hard
boundaries. Duparquet Tailings: The estimate used a block model in
GEOVIA GEMS with a block size of 5m x 5m x 1m. Grade interpolation
was obtained by ID2 using hard boundaries.
|
10.
|
In-pit and Underground:
For Duparquet, a density value of 2.73 g/cm3 was used for the
mineralized domains and the envelope. For Pitt Gold and Duquesne, a
density value of 2.7 g/cm3 was used for the mineralized domains and
the envelope. A density value of 2.00 g/cm3 was used for the
overburden. A density value of 1.00 g/cm3 was used for the
excavation solids (drifts and stopes) assumed to be filled with
water. Tailings: A fixed density of 1.45 g/cm3 was used in zones
and waste.
|
11.
|
In-pit and Underground:
For Duparquet, the mineral resource estimate is classified as
Measured, Indicated and Inferred. The measured category is defined
by blocks having a volume of at least 25% within an envelope built
at a distance of 10 m around existing channel samples. The
Indicated category is defined by blocks meeting at least one (1) of
the following conditions: Blocks falling within a 15-m buffer
surrounding existing stopes and/or blocks for which the average
distance to composites is less than 45 m. A clipping polygon was
generated to constrain Indicated resources for each of the sixty
(60) mineralized domains. Only the blocks for which reasonable
geological and grade continuity have been demonstrated were
selected. All remaining interpolated blocks were classified as
Inferred resources. Blocks interpolated in the envelope were all
classified as Inferred resources. Tailings: The Measured and
Indicated categories were defined based on the drill hole spacing
(Measured: Zones 1 and 2 = 30m x 30m grid; Indicated: Zone 3 = 100m
x 100m grid and Zone 4 = 200m x 200m grid). For Pitt Gold and
Duquesne, the mineral resource estimate are completely classified
as Inferred due to a lack of confidence in certain drill hole
collar and underground development locations.
|
12.
|
The Mineral Resource
Estimate for Duquesne and Pitt Gold was prepared using 3D
block modelling and the inverse distance squared ("ID2")
interpolation method.
|
13.
|
The mineral resources
are categorized as Inferred based on drill spacing, as well as
geological and grade continuity. A maximum distance to the closest
composite of 75 m for Inferred in all zones for Duquesne of
210 m for Inferred in all zones for Pitt Gold.
|
14.
|
The reasonable prospect
for an eventual economical extraction is met by having used
reasonable cut-off grades both for a potential open pit and
underground extraction scenarios (minimum mining width of 2m) and
constraining volumes (Deswik optimized shapes and Whittle optimized
pit-shells).
|
15.
|
In-pit and Underground:
The mineral resource estimate is locally pit-constrained with a
bedrock slope angle of 50° and an overburden slope angle of 30°.
The out-pit mineral resource met the reasonable prospect for
eventual economic extraction by having constraining volumes applied
to any blocks (potential underground extraction scenario)
using DSO. Duparquet resources is reported at a rounded
cut-off grade of 0.4 g/t Au (in-pit and tailings) and 1.5 g/t Au
(UG). The cut-off grades were calculated using the following
parameters: mining cost = CA$70.00 (UG); processing cost = CA$11.9
(tailing) to CA$17.0 (pit& UG); G&A = CA$8.75; refining and
selling costs = CA$ 5.00; gold price = US$ 1,650/oz; USD:CAD
exchange rate = 1.31; and mill recovery = 93.9%. The cut-off grades
should be re-evaluated in light of future prevailing market
conditions (metal prices, exchange rates, mining costs etc.).
Duquesne resources are reported at a rounded cut-off grade of 0.5
g/t Au (in-pit) and Pitt Gold and Duquesne resources are reported
at a rounded cut-off grade of 1.75 g/t Au (UG). The cut-off grades
were calculated using the following parameters: mining cost =
CA$84.86 (UG); processing cost = CA$21.010; G&A = CA$11.75;
refining and selling costs = CA$ 5.00; gold price = US$ 1,800/oz;
USD:CAD exchange rate = 1.3; and mill recovery = 90%. The cut-off
grades should be re-evaluated in light of future prevailing market
conditions (metal prices, exchange rates, mining costs
etc.).
|
16.
|
The number of metric
tons was rounded to the nearest thousand and ounces were rounded to
the nearest hundred, following the recommendations in NI 43 101.
Any discrepancies in the totals are due to rounding
effects.
|
17.
|
The qualified persons
are not aware of any known environmental, permitting, legal,
title-related, taxation, socio-political, or marketing issues,
or any other relevant issue not reported herein, that could
materially affect the Mineral Resource Estimate.
|
Environment &
Community
The PEA has considered and incorporated the opportunity to
leverage the Duparquet Gold Project development with the
reclamation of the brownfield site conditions including the removal
and reprocessing of over 4.1 Mt of uncontained historical mine
tailings. With such measures incorporated into the PEA mine plan,
in combination with the ability of the Project to collect and treat
historically impacted groundwater via the excavation and dewatering
of the open pit, the Project is positioned to deliver both
environmental and socio-economic benefits via employment,
contracting and revenue for the Municipality of Duparquet.
The PEA is anticipated to be refined and optimized based on
consultation and input to be received by government, the
Municipality of Duparquet and
other local and regional stakeholders, and local First Nation
community.
Since acquiring the Duparquet Gold Project in September of 2022,
First Mining has prioritized meeting the people, communities and
government representatives on project planning in an open and
transparent manner. First Mining published the Mines d'Or Duparquet
website to share project information and has recently finished
renovations required to open a First Mining community relations
office in Duparquet. The Project provides an
opportunity to address historical environmental aspects at the
Project site to improve long-term sustainability, economic activity
and support sustainable municipal planning and development.
The Municipality of Duparquet
is in the Abitibi-Témiscamingue region which has been shaped
primarily by natural resource-based industries, including mining,
and forestry, where the mining industry accounts for 1 in 7 jobs in
the region.
Qualified Persons
The affiliation and areas of responsibility for each of the
Qualified Persons involved in preparing the PEA are as follows:
Table 5: Qualified Persons for PEA NI 43-101
Qualified
Persons
|
Company
|
Area of
Expertise
|
Carl Michaud,
P.Eng.
|
G Mining Services
Inc.
|
Operating Cost
Estimation, Economic Analysis
and Mine
Engineering
|
Alexandre Dorval, P.
Eng.
|
G Mining Services
Inc.
|
Open pit Mine
Engineering
|
Marina Iund.
P.Geo.
|
InnovExplo
Inc.
|
Duparquet
MRE
|
Olivier
Vadnais-Leblanc,P.Geo.
|
InnovExplo
Inc.
|
Duquesne and Pitt Gold
MRE
|
Carl Pelletier.
P.Geo.
|
InnovExplo
Inc.
|
Duparquet, Duquesne and
Pitt Gold MRE
|
Simon Boudreau, P.
Eng.
|
InnovExplo
Inc.
|
Duparquet, Duquesne and
Pitt Gold MRE
|
Neil Lincoln, P.
Eng.
|
G Mining Services
Inc.
|
Mineral Processing and
Recovery Methods
|
Philip Rodrigue, P.
Eng.
|
G Mining Services
Inc.
|
Infrastructure and
Capital Cost Estimation
|
Sheldon Smith MES, P.
Geo
|
Stantec Consulting
Ltd.
|
Environmental and
Permitting
|
The Company cautions that the results of the PEA are preliminary
in nature and include Inferred Mineral Resources that are
considered too speculative geologically to have the economic
considerations applied to them that would enable them to be
categorized as mineral reserves. There is no certainty that the
results of the PEA will be realized.
Qualified Persons
Mr. Louis Martin P.Geo., (OGQ
0364), a consultant of First Mining, is a "Qualified Person" for
the purposes of NI 43-101, and he has reviewed and approved the
scientific and technical disclosure contained in this news
release.
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 we have commenced a Feasibility
Study and permitting activities are on-going with a draft
Environmental Impact Statement ("EIS") for the project published in
June 2022, and the Duparquet Project
in Quebec, a PEA 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 Mr. Keith Neumeyer, founding President and CEO of
First Majestic Silver Corp.
ON BEHALF OF FIRST MINING GOLD CORP.
Daniel W. Wilton
Chief Executive Officer and Director
Cautionary Note Regarding
Forward-Looking Statements
This news release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation including the United States Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are made as of the date of this news release.
Forward-looking statements are frequently, but not always,
identified by words such as "expects", "anticipates", "believes",
"plans", "projects", "intends", "estimates", "envisages",
"potential", "possible", "strategy", "goals", "opportunities",
"objectives", or variations thereof or stating that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved, or the negative of any of
these terms and similar expression Forward-looking statements in
this news release include, but are not limited to, statements with
respect to: (i) the results of the PEA; (ii) the economic potential
and merits of the Project; (iii) the estimated amount and grade of
Mineral Resources at the Project; (iv) the PEA representing a
viable development option for the Project; (v) construction of a
mine at the Project; (vi) the Project being one of the most
meaningful development projects in Canada; (vii) estimates of capital and
operating costs; (viii) the estimated amount of future production
from the Project (ix) life of mine estimates and economic returns
from the Project; * environmental benefits of the Project; and (xi)
Project enhancement opportunities.
Forward-looking statements in this news release relate to
future events or future performance and reflect current estimates,
predictions, expectations or beliefs regarding future events.
All forward-looking statements are based on First Mining's or
its consultants' current beliefs as well as various assumptions
made by them and information currently available to them. There can
be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the respective parties, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Such factors
include, without limitation the Company's business, operations and
financial condition potentially being materially adversely affected
by the outbreak of epidemics, pandemics or other health crises,
such as COVID-19, and by reactions by government and private actors
to such outbreaks; risks to employee health and safety as a result
of the outbreak of epidemics, pandemics or other health crises,
such as COVID-19, that may result in a slowdown or temporary
suspension of operations at some or all of the Company's mineral
properties as well as its head office; fluctuations in the
spot and forward price of gold, silver, base metals or certain
other commodities; fluctuations in the currency markets (such as
the Canadian dollar versus the U.S. dollar); changes in national
and local government, legislation, taxation, controls, regulations
and political or economic developments; risks and hazards
associated with the business of mineral exploration, development
and mining (including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins and
flooding); the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities, indigenous populations and other
stakeholders; availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development; title to properties; and the
additional risks described in the Company's Annual Information Form
for the year ended December 31, 2022
filed with the Canadian securities regulatory authorities under the
Company's SEDAR+ profile at www.sedarplus.ca, and in
the Company's Annual Report on Form 40-F filed with the SEC on
EDGAR.
First Mining cautions that the foregoing list of factors that
may affect future results is not exhaustive. When relying on our
forward-looking statements to make decisions with respect to First
Mining, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
First Mining does not undertake to update any forward-looking
statement, whether written or oral, that may be made from time to
time by the Company or on our behalf, except as required by
law.
Cautionary Note to United
States Investors
The Company is a "foreign private issuer" as defined in Rule
3b-4 under the United States
Securities Exchange Act of 1934, as amended, and is eligible to
rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System,
and is therefore permitted to prepare the technical information
contained herein in accordance with the requirements of the
securities laws in effect in Canada, which differ from the requirements of
the securities laws currently in effect in the United States. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
Technical disclosure contained in this news release has not
been prepared in accordance with the requirements of United States securities laws and uses terms
that comply with reporting standards in Canada with certain estimates prepared in
accordance with NI 43-101.
NI 43-101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning
the issuer's material mineral projects.
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SOURCE First Mining Gold Corp.