First Mining Gold Corp. announced continued positive results from the 2023 diamond drilling program at its Duparquet Gold Project (?Duparquet Project? or the ?Project?) located in Quebec, Canada.

In addition, the Company has commenced mobilization activities in support of its 2024 drilling campaigns. First Mining's 2023 exploration strategy and maiden drill program on the Project was focused on derisking, validating and testing exploration targets that could unlock meaningful expansion opportunities along strike and down plunge of existing deposits. The Company completed 17 exploration drill holes totaling 6,966 m in its 2023 exploration drilling campaign and all assay results have now been received.

Results from the 2023 exploration campaign have defined several significant discovery and follow-up targets, including a new zone immediately to the south of the current mineral resource area (Buzz Zone: 6.52 g/t Au over 4.6 m), confirmation of mineralization and a higher grade trend in the area of Central Duparquet (CDHG Zone: 2.73 g/t Au over 6.15 m), extension and connectivity of the mineralization between Central Duparquet and the Dumico deposit (Valentre Zone: 1.71 g/t Au over 8.9 m) and most recently, advancing the easterly and down-dip extension of the Donchester South Shear Zone (DCD Zone: 1.83 g/t Au over 7.0 m). 2024 Duparquet Exploration Program Outlook: The aim of the 2024 program at the Duparquet Project is to build on the successes and learnings of the 2023 campaigns, with a continued focus on growth opportunities within the current mineral resource, as well as targeting additional Abitibi mineralization styles that carry a potential for higher-grade settings and favour regional processing synergies. Drilling is commencing in February 2024 where the objective is to complete the Phase 2 winter drilling component of the program.

A six-hole, 2,500 m drill program is planned, targeting the North Zone as well as a regional brownfields opportunity from the 2023 field campaign that remains underexplored. For the second quarter of 2024, the Company is aiming to commence a Phase 3 drilling campaign alongside regional airborne geophysics and LiDAR survey programs that will further uplift exploration target development and vectoring ahead of the summer field campaigns. Discussion of Latest Results: Hole DUP23-010 was drilled along the mineralized shear zone at the southern contact of the Beattie Syenite body and approximately 200 m to the east of the current resource wireframe and outside of the PEA pit shell.

The hole intersected 1.83 g/t Au over 7.0 m from 91.0 m to 98.0 m, including 2.19 g/t Au over 1.2 m and 2.99 g/t Au over 3.0 m. The mineralization intersected is shallow in nature, at a depth of 80 m below surface, and is associated with intermixed syenite and basalts. Historical drilling in the area supports the extension of the mineralization 250 m below DUP23-010. This mineralized intercept is from the most easterly hole along the historically mined Donchester South Zone, and this mineralized structure and zone remains open to the east and at depth and defines a zone for further characterization and targeting as it has the potential to add meaningful ounces to the known mineral resource.

Other significant intersections from the latest drilling include 2.7 g/t Au over 3.4 m and 2.46 g/t Au over 4.8 m, including 5.16 g/t Au over 1.6 m in drill hole DUP23-011, as well as 0.96 g/t Au over 10.0 m and 1.1 g/t Au over 6.0 m in drill hole DUP23-012. The near-surface results from DUP23-011 confirm the up-dip extension of the historically mined Donchester South Zone. The assays returned support further investigation of opportunities to add additional ounces (defining new wireframes) as the intercepts are beyond the limits of the current PEA pit shell.

Drill hole DUP23-012 confirms the continuity at depth of the Zone 3 wireframe. Drill hole DUP23-013 targeted a large, untested area associated with Zone 3 near the junction of the previous Beattie and Donchester claim blocks. Multiple mineralized intervals were intersected, including 8.82 g/t Au over 1.0 m, 1.21 g/t Au over 6.0 m, 0.53 g/t Au over 16.0 m and 1.52 g/t Au over 6.0 m, with the majority of these intersections located below the interpreted PEA pit shell limits.

The mineralization in some areas spans widths thicker than previously projected and overall the mineralization remains open at depth and to the east for several hundred metres. A new brownfields exploration target, SID, located to the north of Dumico on the boundary of the Porcupine East property, was drill tested in 2023. The SID target is located in a lithological setting outside of the traditional Beattie syenite host and is defined by a combination of historical grab samples and a drilling trend proximal to historical property boundaries.

A sheared, iron carbonate mafic volcanic historical surface grab sample returned 3.3 g/t Au and was validated in First Mining's 2023 field campaign, with assays from grab samples ranging from 0.26 to 1.78g/t Au within sheared ankerite altered basalt. Historical drill hole G-83-2 was also completed in this target area and returned 2.33 g/t Au over 11. 8 m at a downhole depth of 22.7 m. First Mining drilled two exploration holes in 2023 (DUP23-014 and DUP23-015), targeting an opportunity to intersect the historical interval at a further depth than previously tested.

Both drill holes intersected sulphide mineralization and a significant amount of quartz veining (spanning over 4.5 metres) associated with felsic tuffs and basalts interbedded with local graphitic argillites.