First Mining Announces $50 Million Bought-Deal Offering of Common Shares

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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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Base Shelf Prospectus Accessible and Prospectus Supplement to be Accessible on SEDAR+

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VANCOUVER, British Columbia, Sept. 17, 2026 (GLOBE NEWSWIRE) — First Mining Gold Corp. (“First Mining” or the “Company”)
(TSX: FF) (FRANKFURT: FMG) is pleased to announce that it has entered into an agreement with Haywood Securities Inc., ATB Cormark Capital Markets, and National Bank Financial Inc. acting as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters (collectively, the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 59,530,000 common shares of the Company (the “Common Shares”) at a price of $0.84 per Common Share (the “Offering Price”) for aggregate gross proceeds to the Company of $50,005,200 (the “Offering”). The Underwriters have been granted an option (an “Over-Allotment Option“) to purchase up to an additional 15% of the number of Common Shares issuable under the Offering at the Offering Price, exercisable in whole or in part up to 30 days following the closing of the Offering, which may be exercised to cover over-allotments, if any, and for market stabilization purposes.

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The net proceeds from the Offering will be used to advance First Mining’s Springpole and Duparquet gold projects, as well as for general working capital and corporate purposes.

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The Common Shares will be offered by way of a prospectus supplement (the “Supplement”) to the Company’s base shelf prospectus dated February 23, 2026 (the “Base Shelf Prospectus”) in each of the provinces and territories of Canada (excluding Quebec). The Common Shares may also be offered by way of private placement in the United States and in offshore jurisdictions in accordance with applicable securities laws and where doing so would not require a prospectus, registration statement, offering memorandum or similar document, or create reporting or other obligations for the Company. The Offering is expected to close on or about September 24, 2026, and is subject to customary closing conditions, including but not limited to the Company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange (the “TSX”).

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Access to the Base Shelf Prospectus, the Supplement and any amendments to such documents are provided in accordance with securities legislation relating to procedures for providing access to a base shelf prospectus, a shelf prospectus supplement and any amendment to such documents. The Shelf Prospectus is accessible, and the Supplement will be accessible within two business days from the date hereof, under the Company’s profile on SEDAR+ at www.sedarplus.ca. Copies of the Base Shelf Prospectus, the Supplement, and any amendment to such documents may be obtained, without charge, from: (i) Haywood Securities Inc., by phone at (604) 697-7126 or by email at [email protected], (ii) ATB Cormark Capital Markets, by phone at (416) 943-6701 or by email at [email protected], or (iii) National Bank Financial Inc., by phone at (416) 869-8414 or by email at [email protected]. Before investing, prospective investors should read the Base Shelf Prospectus, the Supplement, when available, and the documents incorporated by reference therein.

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The Common Shares offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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About First Mining Gold Corp.

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First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where the federal Environmental Assessment for the Springpole Project was approved in June 2026, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns a 20% project interest in the Pickle Crow Gold Project in Ontario and large equity interest in Seva Mining Corp.

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First Mining was established in 2015 by Mr. Keith Neumeyer, founder and CEO of First Majestic Silver Corp.