First Mining Partners with Auteco to Advance its Pickle Crow Gold Project

Jan 27, 2020

VANCOUVER, BC / ACCESSWIRE / January 27, 2020 / First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF, Financial) (OTCQX:FFMGF, Financial) (FRANKFURT:FMG) is pleased to announce that it has entered into a binding term sheet with Auteco Minerals Ltd ("Auteco") (ASX: AUT) whereby Auteco may earn up to an 80% interest in First Mining's Pickle Crow Gold Project ("Pickle Crow" or the "Project") located in Ontario, Canada. Auteco can earn a full 80% interest in the Project by incurring a total of $10 million in exploration expenditures over five years, making cash payments to First Mining totaling $4.1 million, and issuing 125 million shares of Auteco to First Mining. First Mining will also retain a 2% Net Smelter Return ("NSR") Royalty, 1% of which can be bought back for US$2.5 million. Further details are set out under "Earn-in Details".

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