First Mining Options Additional Land Package Near Springpole Gold Project
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VANCOUVER, BC, April 29, 2021 /PRNewswire/ -
First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce that the Company has entered into an earn-in agreement with Whitefish Exploration Inc. ("Whitefish") pursuant to which First Mining may earn, over the course of two stages and over a period of five years, up to a 100% interest in Whitefish's Swain Lake property (the "Swain Lake Property") located in northwestern Ontario. First Mining will have the option to earn an initial 70% interest in the Swain Lake Property by making cash payments totaling $200,000, and share payments totaling $425,000, to Whitefish, and by incurring at least $500,000 worth of expenditures on the Swain Lake Property during the first 3 years of the earn-in term. Upon completing the first stage of the earn-in, First Mining will hold, through its wholly-owned subsidiary Gold Canyon Resources Inc. ("Gold Canyon"), a 70% interest in the Swain Lake Property, and will have an additional period of 2 years within which to acquire the remaining 30% of the property by paying $1 million to Whitefish and issuing $1 million worth of First Mining shares to Whitefish. In the event the second stage of the earn-in is not completed, Whitefish and Gold Canyon will enter into a joint venture agreement with respect to the Swain Lake Property.