First Mining Announces Closing of US$22.5 Million Funding by First Majestic Silver to Advance the Springpole Gold Project

Jul 03, 2020

VANCOUVER, CANADA / ACCESSWIRE / July 2, 2020 / First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF)(OTCQX:FFMGF)(FRA:FMG) is pleased to announce the closing of its previously announced transaction with First Majestic Silver Corp. ("First Majestic") (TSX:FR) (NYSE:AG) to advance the Company's 100%-owned Springpole Gold Project ("Springpole" or the "Project") located in Ontario, Canada. Under the terms of a silver purchase agreement (the "Agreement") that First Majestic has entered into with the Company, First Majestic has agreed to pay First Mining total consideration of US$22.5 million, over three stages, for the right to purchase 50% of the payable silver produced from Springpole for the life of the Project (the "Stream").

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