First Mining Files Pre-Feasibility Study Technical Report for the Springpole Gold Project, Ontario, Canada

Core Viewpoint - First Mining Gold Corp. has filed an independent Pre-Feasibility Study for its Springpole Gold Project, indicating strong economic potential and operational plans for the project [1][2]. Project Overview - The Springpole Gold Project is located in Ontario, Canada, and is 100% owned by First Mining Gold Corp. [1] - The Pre-Feasibility Study (2025 PFS) supports a mining operation with a capacity of 30,000 tonnes per day [2]. Financial Highlights - The project has a pre-tax net present value (NPV) of US$3.2 billion at a gold price of US$3,100 per ounce, increasing to US$5.6 billion at US$4,200 per ounce [9]. - The after-tax NPV is US$2.1 billion at US$3,100 per ounce, rising to US$3.8 billion at US$4,200 per ounce [9]. - The internal rate of return (IRR) is projected at 54% pre-tax and 41% after-tax at US$3,100 per ounce, increasing to 82% and 63% respectively at US$4,200 per ounce [9]. - The life of mine (LOM) is estimated at 9.4 years, with an after-tax payback period of 1.8 years, reducing to 1.2 years at higher gold prices [9]. Production and Cost Metrics - Average annual payable gold production is projected at 330,000 ounces per year for the first five years, and 281,000 ounces per year over the life of the mine [9]. - Total net cash costs are estimated at US$742 per ounce for the first five years and US$802 per ounce over the life of the mine [9]. - Net All-In Sustaining Costs (AISC) are projected at US$877 per ounce for the first five years and US$938 per ounce over the life of the mine [9]. Company Background - First Mining Gold Corp. is advancing two of the largest gold projects in Canada, including the Springpole Gold Project and the Duparquet Gold Project in Quebec [7]. - The company was established in 2015 by Keith Neumeyer, who is also the founding President and CEO of First Majestic Silver Corp. [8].