First Mining is a Canadian gold developer focused on the development of the Springpole Gold Project in northwestern Ontario and the Duparquet Gold Project in Quebec, two of the largest undeveloped gold projects in Canada.
First Mining released an updated PFS at Springpole in November 2025 and has commenced a Feasibility Study. Permitting activities are on-going with the Final Environmental Impact Statement / Environmental Assessment ("EIS/EA") for the Springpole Gold Project submitted in November 2024 which is available on our Environmental Assessment Portal.
First Mining also owns the Duparquet Gold Project, a PEA stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region in Quebec, the Cameron Gold Project in Ontario and a 30% project interest in the Pickle Crow Gold Project being advanced by FireFly Metals.
First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic Silver Corp.
Latest Drilling Results
Key Highlights
2025 PFS Highlights
US$3.2 billion pre-tax net present value at a 5% discount rate (“NPV5%”) at US$3,100/oz gold (“Au”), increasing to US$5.6 billion at US$4,200/oz Au2
US$2.1 billion after-tax NPV5% at US$3,100/oz Au, increasing to US$3.8 billion at US$4,200/oz Au
54% pre-tax internal rate of return (“IRR”) at US$3,100/oz increasing to 82% at $4,200/oz Au
41% after-tax IRR at US$3,100/oz Au increasing to 63% at US$4,200/oz Au
Life of mine (“LOM”) of 9.4 years
After-tax payback of 1.8 years and reducing to 1.2 years at US$4,200/oz Au
Initial capital costs estimated at US$1,104 million, sustaining capital costs estimated at US$323 million, plus US$40 million in closure costs (excluding plant closure)
Average annual payable gold production of 330 koz per year (Years 1 to 5); 281 koz per year LOM
Total net cash costs3 of US$742/oz (Years 1 to 5); and US$802/oz LOM
Net All-In Sustaining Costs (“AISC”)3 of US$877/oz (Years 1 to 5), and AISC US$938/oz (LOM)
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