First Mining Gold (FF) Q2 2025 earnings summary

Executive summary

• Achieved a successful second quarter with positive exploration results at the Duparquet Gold Project, including significant mineralization intercepts and the discovery of the Minuit zone.

• Entered a landmark long-term relationship agreement with Mishkeegogamang First Nation for the Springpole Gold Project.

• Raised over $36 million in new capital through a prospectus offering and private placement, with demand exceeding the amount closed.

Financial highlights

• As of June 30, 2025, cash and marketable securities totaled $5.8 million, and the equity interest in PC Gold Inc. (Pickle Crow Project) was valued at $21.5 million.

• Completed a marketed public offering of 66,670,000 units for gross proceeds of $12,000,600.

• Closed a non-brokered offering of 95,000,000 units for $17,100,000 and 33,350,000 flow-through units for $7,337,000, totaling $24,437,000.

• Sold the remaining 20% interest in the Hope Brook Gold Project for $3 million in cash and 7 million shares of Big Ridge.

Outlook and guidance

• Advancing feasibility study and permitting activities at Springpole Gold Project, with a final Environmental Impact Statement/Assessment submitted in November 2024.

• Proceeds from recent financings will support significant progress at Springpole and Duparquet projects.