First Mining Gold (FF) Q1 2025 earnings summary

Executive summary

• Achieved a strong start to fiscal 2025, highlighted by a US$5 million payment from First Majestic Silver and progress on key gold projects.

• Advanced permitting at Springpole Gold Project and launched significant exploration at Duparquet.

• Gold prices trending higher, positioning the asset portfolio for leverage in a strong market.

Financial highlights

• Cash and marketable securities totaled $11.7 million as of March 31, 2025.

• Equity interest in PC Gold Inc. (Pickle Crow Project) valued at $21.5 million.

• Received final US$5 million payment from First Majestic Silver under the Silver Stream Purchase Agreement.

Outlook and guidance

• Ongoing feasibility study and permitting at Springpole, with a final Environmental Impact Statement submitted in November 2024.

• Largest exploration drill program at Duparquet since 2022, targeting 18,000 meters in 2025 to support resource growth.