Duquesne, Duparquet & Pitt Projects

On April 8, 2016, First Mining completed a business combination transaction with Clifton Star Resources Inc. to acquire a 100% interest in the Duquesne Gold Project and a 10% interest in the Duparquet Gold Project. On April 28, 2016 First Mining Finance Corp. acquired the Pitt Gold Project from Brionor Resources Inc. The Duquesne, Duparquet and Pitt projects are all proximal to each other and are located within the Abitibi Region of Québec which is one of the world’s most prolific gold producing regions, having yielded almost 200 million ounces of gold.

Highlights:

  • The Duquesne, Duparquet and Pitt projects are all closely situated along the Abitibi Gold Belt
  • 100% interest in the Duquesne Gold Project:
    • Indicated Resources 1.9 Mt tonnes grading 3.33 g/t containing 199,000 ounces of gold
    • Inferred Resources of 1.6 Mt grading 5.58 g/t containing 280,000 ounces of gold
  • 10% interest in the Duparquet Gold Project which has a large open-pittable resource:
    • Measured Resources of 16,510 tonnes grading 1.45 g/t containing 771 ounces of gold
    • Indicated Resources of 5.5 Mt grading 1.62 g/t containing 290,000 ounces of gold (10% basis)
    • Inferred Resources of 2.9 Mt grading 1.46 Au g/t containing 133,376 ounces of gold (10% basis)
  • 100% interest in the Pitt Gold Project*:
    • Inferred Resources of 1,076,000 tonnes grading 7.42 g/t containing 257,000 ounces of gold
  • 100% interest in two other early stage precious metal projects in Québec

* With a cut-off grade of 3.00 g/t gold

Attributable Mineral Resource Estimates (43-101 Compliant):

Measured and Indicated Resources*

Project Category Tonnes Au Grade (g/t) Contained Au (oz.)
Duparquet(2) Measured 16,500 1.45 770
Duparquet(2) Indicated 5,954,000 1.57 300,700
Duquesne(1) Indicated 1,859,200 3.33 199,161
TOTAL Measured 16,510 1.45 771
TOTAL Indicated 7,401,370 2.05 638,731
TOTAL Total Measured & Indicated 8,017,880 2.05 639,502

Inferred Resources*

Project Category Tonnes Au Grade (g/t)
Contained Au (oz.)
Duquesne(1) Inferred 1,563,100 5.58 280,643
Duparquet(2) Inferred 2,846,484 1.46 133,376
Pitt(3) Inferred 1,076,000 7.42 257,000
TOTAL Total Inferred 5,485,584 3.80 671,019

* General Notes for Above Resources:

a) The rounding of tonnes may result in apparent differences between tonnes, grade and contained ounces.
b) Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

(1) Notes for Duquesne:

a) Based on the technical report entitled “43-101 Technical Report Resource Estimate of The Duquesne Gold Property” dated July 26, 2011 and available at www.sedar.com under Clifton Star Resources Inc.’s SEDAR profile.
b) Cut-off grade = 1.0 g/t Au without taking into account the width and no dilution was applied when the horizontal width was 1.0 metre or less.

(2) Notes for Duparquet:

a) Based on the technical report entitled “Technical Report and Prefeasibility Study for the Duparquet Project (according to National Instrument 43-101 and Form 43-101F1)”. Effective date: March 26, 2014. Signature date: May 23, 2014. A vailable at www.sedar.com under Clifton Star Resources Inc.’s SEDAR profile.
(b) Cut-off grade = >0.45 g/t Au (Tailings), >0.45 g/t Au (In-pit), > 2.00 g/t Au (Underground)
(c) Gold price assumption = CDN$1,450/oz. Au.

(3) Notes for Pitt:

(a) Based on the technical report entitled “NI 43-101 Technical Report and Review of the Preliminary Mineral Resource Estimate For the Pitt Gold Project, Duparquet Township, Abitibi Region, Quebec, Canada” dated January 5, 2017 and available at www.sedar.com under First Mining Finance Corp.’s SEDAR profile.
b) Cut-off grade = 3 g/t Au, Minimum block width = 1.5 metres, Dilution grade = 0 g/t Au, Capping grade = 35 g/t Au.