First Mining Gold Corp. · TSX:FF
First Mining Gold — Investor Presentation (January 2021)
31 slides from First Mining Gold's investor presentation, Jan 20, 2021
Slide 1: Springpole Gold Project PFS Results
TSX: FF OTCQX: FFMGF FRANKFURT: FMG www.firstmininggold.com Springpole Gold Project PFS Results January 20, 2021
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation includes certain “forward-looking information” and “forward-looking statements” and financial condition may be materially adversely affected by the outbreak of epidemics, pandemics or (collectively “forward-looking statements”) within the meaning of appli
Slide 3: Springpole Gold Project: Robust PFS Results
SPRINGPOLE GOLD PROJECT Robust PFS Results | 2
Slide 4: Springpole – A Unique Strategic Gold Asset
SPRINGPOLE – A UNIQUE STRATEGIC GOLD ASSET One of the largest, undeveloped open- pit gold deposits in Canada • Reserves of 3.8 million ounces gold at 0.97 g/t, 20.5 million ounces silver at 5.2 g/t • Average annual gold production of 335,000 ounces in years 1 through 9 (1) Positive Economics, +11 ye
Slide 5: Springpole - 2021 PFS Results
SPRINGPOLE - 2021 PFS RESULTS Production LOM Year 1 to 9 Base Case Highlights: Mine Life yr 11.3 9.0 LOM Strip Ratio w:o 2.36 2.22 Au Price: Ag Price: FX: Daily Throughput tpd 30,000 $1,600/oz $20/oz 0.75 Gold Gold Head Grade g/t 0.97 1.12 After-Tax NPV5% After-Tax IRR Gold Recovery % 85.7% 87.0% US
Slide 6: Springpole - Conceptual Mine Site
SPRINGPOLE - CONCEPTUAL MINE SITE WASTE STORAGE FACILITY (TAILINGS AND LOW GRADE OPEN PIT MINE ROCK STOCKPILE CODISPOSAL) PLANT SITE COFFER DAM COFFER DAM COFFER DAM Proposed Dewatered Area is 6% of Springpole Lake Conceptual Plan (3% by volume) Significant project improvements in PFS Springpole Lak
Slide 7: Springpole - Production Profile
SPRINGPOLE - PRODUCTION PROFILE LOM Metal recoveries in the updated PFS – 85.7% gold and 89.5% silver • Flotation followed by separate cyanide leaching of both concentrate and flotation tails Average annual gold production of 335 koz in years 1 through 9 • 3.2 million ounces of gold and 18 million o
Slide 8: Springpole - Gold Asset with Size & Scale
SPRINGPOLE - GOLD ASSET WITH SIZE & SCALE Springpole is one of the largest undeveloped gold assets in North America • Producing mines of similar size and scale mostly held by senior gold producers • Peak production of 400,000 ounces gold in year 3 1,100 700 660 Producing Asset Development Asset 600
Slide 9: Birch-Uchi Greenstone Belt
BIRCH-UCHI GREENSTONE BELT Several past-producing gold mines Argosy – 100,000 oz at 11.4 g/t Uchi – 114,000 oz at 4.7 g/t Several smaller gold and base metal mines Extensive greenstone belt that has only seen a fraction of the exploration of the Red Lake and Pickle Lake belts Exploration activity in
Slide 10: Springpole - Permitting Timeline
SPRINGPOLE - PERMITTING TIMELINE 2018 2019 2020 2021 2022 2023 Consultation with Stakeholders On-Going Permitting Process CURRENT Q1 Project Description 2021 EIS Guidelines Received Preparation of Terms of Reference (ToR) Draft ToR Completed and Submitted to MECP Consultation around ToR and Draft To
Slide 11: Founder & Management Team
FOUNDER & MANAGEMENT TEAM Keith Neumeyer Dan Wilton Chairman & Founder CEO & Director Andy Marshall Ken Engquist Steve Lines Samir Patel Chief Financial Officer Chief Operating Officer VP, Environment & Community General Counsel & Corporate Relations Secretary Richard Huang Spiros Cacos Hazel Mullin
Slide 12: First Mining Gold: Compelling Value Opportunity
First Mining Gold Compelling Value Opportunity TSX: FF | OTCQX: FFMGF | FRANKFURT: FMG | www.firstmininggold.com | 11
Slide 13: Why First Mining
WHY FIRST MINING Gold Developer Focused on a Portfolio of Canadian Assets Flagship PFS-Stage Springpole Gold Project is One of the Largest Undeveloped Open Pit Gold Deposits in North America • Probable Mineral Reserves of 3.8 Moz Au and 20.5 Moz Ag (1) • Indicated Mineral Resources of 4.6 Moz and 24
Slide 14: Strategic Partnerships - Unlocking Value
STRATEGIC PARTNERSHIPS - UNLOCKING VALUE Focus on unlocking potential value of asset portfolio through strategic transactions, while advancing our flagship asset, Springpole, through permitting Treasury Metals - Advancing Goldlund (1) $2,200 C$1.10 Shares Held / Basic Ownership 43 million / 39% Gold
Slide 15: Corporate Overview
CORPORATE OVERVIEW SUMMARY DETAILS CURRENT OWNERSHIP Shares Issued & Outstanding 697 Million MANAGEMENT Options Outstanding 46 Million & DIRECTORS 2.8% Warrants Outstanding 93 Million 2.2% 79% Fully Diluted Shares Outstanding 836 Million RETAIL 16% Market Capitalization ~$275 Million INSTITUTIONAL C
Slide 16: Attractive Relative Valuation
ATTRACTIVE RELATIVE VALUATION First Mining Gold trades at the low range of its peers, with advanced-stage gold developers typically trading at higher multiples than earlier-stage resource peers $160 Gold Developers’ Average Advanced Developers’ Average = US$61/oz Au (1) = US$86/oz Au (2) $140 Enterp
Slide 17: Market Value vs. Potential Fundamental Value
MARKET VALUE VS. POTENTIAL FUNDAMENTAL VALUE First Mining is trading at a discount to its potential value providing for further upside Strategic investments and cash value accounts Springpole NPV alone accounts for ~5.0x for ~70% of First Mining’s Market Cap of First Mining’s Market Cap $2,000 $110
Slide 18: Unlocking Value for First Mining Shareholders
UNLOCKING VALUE FOR FIRST MINING SHAREHOLDERS Near-term focus on advancing Springpole through EA process Pursuing opportunities to surface value from broader asset portfolio Company well funded to go through EA process SPRINGPOLE Advance permitting, targeting submission of EIS in 2021 Ongoing techni
Slide 19: Key Takeaways - Why Now
FIRST MINING GOLD Key Takeaways - Why Now Advancing Springpole – Robust Strategic Asset Unlocking the Value of our Multi-Asset Portfolio Assets Located in Canada, a Top Mining Jurisdiction Trading at a Significant Discount to Peers Experienced Team in Place to Surface Value TSX: FF | OTCQX: FFMGF |
Slide 20: Broader Gold Portfolio
BROADER GOLD PORTFOLIO Eastern Canada | 19
Slide 21: Treasury Metals - Advancing Goliath-Goldlund
TREASURY METALS - ADVANCING GOLIATH-GOLDLUND First Mining is Treasury’s largest shareholder - 39% basic share ownership Created a premiere multi-million ounce gold developer, with advanced-stage permits at Goliath Key Benefits of Transaction: Unlocks value of Goldlund - ~$74 million Treasury Metals
Slide 22: Treasury Metals - Multi-Million Ounce Developer
TREASURY METALS - MULTI-MILLION OUNCE DEVELOPER Co-Development opportunity in an infrastructure-rich area of northwestern Ontario • Potential operating synergies - deposits located only ~25 km apart Advanced permitting at Goliath facilitates co-development • Goliath gold project has received environ
Slide 23: Pickle Crow Gold Project - Auteco Partnership
PICKLE CROW GOLD PROJECT - AUTECO PARTNERSHIP Partnered with Auteco Minerals Ltd (ASX: AUT), who can Earn-In Details (1) earn up to an 80% interest in Pickle Crow over five years Upfront Consideration • First Mining retains meaningful exposure via project • $50,000 cash upon signing term sheet (paid
Slide 24: Cameron Gold Project
CAMERON GOLD PROJECT Excellent infrastructure Year-round highway access, camp, powerline within 20 km 88 km from the Rainy River gold mine Recent acquisition of East Cedartree claims consolidates strategic part of Cameron Gold Project Acquisition adds over 32,200 hectares of prospective mineral tenu
Slide 25: First Mining Gold - Other Key Assets
FIRST MINING GOLD - OTHER KEY ASSETS DUPARQUET, DUQUESNE, PITT • Three assets covering 14 km of the Porcupine Destor Fault QUÉBEC, CANADA • 10% interest in past producing Duparquet (taken to PFS in 2014) 43-101 NI 43-101 RESOURCES (1) (1) RESOURCES • M&I: 596,196 ozs gold at 2.06 g/t • Inferred: 779
Slide 26: Additional Information
ADDITIONAL INFORMATION | 25
Slide 27: First Mining - Mineral Reserve & Mineral Resources
FIRST MINING - MINERAL RESERVE & MINERAL RESOURCES Proven & Probable Reserves Project Tonnes Au Grade (g/t) Contained Au (oz) Ag Grade (g/t) Contained Ag (oz) Springpole 121,600,000 0.97 3,800,000 5.23 20,500,000 Note: This mineral reserve estimate is as of December 30, 2020 and is based on the new
Slide 28: Pickle Crow - Auteco Partnership
PICKLE CROW - AUTECO PARTNERSHIP Partnered with Auteco Minerals Ltd (ASX: AUT) Earn-In Details (1) • Earning up to an 80% interest over five years Upfront Consideration (on signing & execution of formal agreement) • $50,000 cash upon signing term sheet (paid) • $50,000 cash, 25 million shares of Aut
Slide 29: Board of Directors
BOARD OF DIRECTORS Mr. Neumeyer has worked in the investment community since 1984. He has an unparalleled track record which includes creating two Keith Neumeyer world-class mining companies: First Quantum Minerals Ltd. which has now grown into one of the world's largest copper producers, and Chairm
Slide 30: Management Team
MANAGEMENT TEAM Dan Wilton has 25 years of experience in M&A, corporate finance and principal investing in the mining sector. He was most recently a Dan Wilton Partner at Pacific Road Capital Management, a mining-focused private equity investment firm with approximately $800 million under CEO & Dire
Slide 31: For more information
For more information: info@firstmininggold.com +1 604 639 8825 TF: 1 844 306 8827 www.firstmininggold.com
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