First Mining Gold Corp Announces $50 Million Bought-Deal Offering

First Mining Gold Corp. has announced a $50 million bought-deal offering of common shares. The company entered into an agreement with Haywood Securities Inc., ATB Cormark Capital Markets, and National Bank Financial Inc. acting as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters. According to the terms of the agreement, the underwriters have agreed to purchase, on a bought-deal basis, 59,530,000 common shares of the company at a price of $0.84 per Common Share. The aggregate gross proceeds to the company from this Offering are expected to be $50,005,200.

The underwriters have been granted an option to purchase up to an additional 15% of the number of Common Shares issuable under the Offering at the Offering Price, exercisable in whole or in part up to 30 days following the closing of the Offering. This Over-Allotment Option may be exercised to cover over-allotments, if any, and for market stabilization purposes.

The net proceeds from the Offering will be used to advance First Mining’s Springpole and Duparquet gold projects, as well as for general working capital and corporate purposes. The Offering is expected to close on or about September 24, 2026, and is subject to customary closing conditions, including but not limited to the Company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.

The Common Shares will be offered by way of a prospectus supplement to the company’s base shelf prospectus dated February 23, 2026, in each of the provinces and territories of Canada (excluding Quebec). The Common Shares may also be offered by way of private placement in the United States and in offshore jurisdictions in accordance with applicable securities laws and where doing so would not require a prospectus, registration statement, offering memorandum or similar document, or create reporting or other obligations for the company.

First Mining Gold Corp. was established in 2015 by Mr. Keith Neumeyer, founder and CEO of First Majestic Silver Corp. The company is advancing two of the largest gold projects in Canada: the Springpole Gold Project in northwestern Ontario, where the federal Environmental Assessment for the Springpole Project was approved in June 2026, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns a 20% project interest in the Pickle Crow Gold Project in Ontario and a large equity interest in Seva Mining Corp.