Management Profile

Dan Wilton – CEO

Joined First Mining in January 2019. He has 25 years of experience in M&A, corporate finance and principal investing in the mining sector. Dan was most recently a Partner at Pacific Road Capital Management, a mining-focused private equity investment firm, prior to which he was the Head of the Global Mining and Metals Group at National Bank Financial in Vancouver.

Mal Karwowska – VP, Corporate Development & IR

Joined First Mining in April 2019. She has over 10 years of experience in the mining sector, predominantly in investment banking and private equity roles.

What is your rationale for attending 121 Mining Investment?

First Mining is looking to raise the profile and market awareness of the company. Key to that is building the institutional shareholding base with long term investors who recognize the deep value of our gold project portfolio and fund the company through the delivery of key value milestones. New developments for the fall include an updated PEA for our Springpole project and drill results from Goldlund.

What recent news would you like to highlight to investors attending?

Updated PEA for our Springpole gold project, incorporating improved metallurgical results.

Drill results at our Goldlund gold project, testing the Miller Prospect and regional potential of the property.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Springpole: Updated PEA reflecting a new process flow sheet and increased recoveries, submit the Terms of Reference for the Environmental Impact Statement and continue active consultation with our communities of interest around the EA process.

Goldlund: Complete drill program at the Miller prospect, commence regional exploration program to further demonstrate the district-scale potential of the property.

6 Months:

Springpole: Receive approved Terms of Reference for EA submission, complete data collection for EIS, commence Pre-Feasibility Study.

Goldlund: Infill and expansion drilling at the Goldlund main zones (which hosts the current resource), continue to drill out the regional targets, potentially complete an initial resource estimate for the Miller prospect, and advance a potential economic study on the property.

12 Months:

Springpole: Submit Environmental Impact Statement document and complete Pre-Feasibility Study by the end of 2020.

Goldlund: Complete a resource update, and look to advance the asset via an economic study and commencement of permitting.

Broader portfolio: Find potential partners to advance our portfolio of assets.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The key challenge is the perception of permitting risk at Springpole and the lack of investor awareness of the quality of our Goldlund asset. While the deposit at Springpole is under the bay of a lake and will require dewatering, there have been eight years of environmental baseline work and geotechnical analysis completed to demonstrate that development is possible. We intend to address the perception issue at Springpole and to highlight the value of Goldlund through ongoing technical study, advancing the projects through the permitting process and by raising the profile of these projects with potential strategic and financial investors.

In a sentence, what do you think makes your company such a compelling investment?

Valuation – Jurisdiction – Team.
As of September 2019, First Mining traded at $10/oz vs its North American peers at an average of $40/oz, despite holding one of the largest gold resource bases in Canada (7.4 million ounces gold in the Measured and Indicated categories and 3.8 million ounces gold in the Inferred category). Our assets are located in a premier mining jurisdiction, and our broader portfolio of assets also provides further optionality and includes past producing gold assets with defined resources, located in areas with strong existing infrastructure. Our experienced team has significant project development, permitting and capital markets experience.