First Mining Gold Corp. held $40.5 million in cash and marketable securities as of June 30, 2026, supported by federal environmental assessment approval for its flagship Springpole Gold Project in northwestern Ontario.

In addition to its cash reserves, the company's asset base included a $29 million equity investment in Seva Mining, valued at 80 million shares based on a June 30 closing price of C$0.365 per share, and a $14.3 million equity interest in PC Gold Inc. The financial position was bolstered by transactions at the Pickle Crow Gold Project in Ontario, where new joint-venture partner Bellavista Resources Ltd closed its acquisition of Firefly Metal Ltd's interest in PC Gold. Bellavista exercised its buy-down right by paying $3 million in cash to First Mining, reducing First Mining's project ownership from 30% to 20%. First Mining's remaining interest in Pickle Crow is free carried to a decision to mine.

At Springpole, the Federal Minister of the Environment, Climate Change and Nature granted environmental assessment approval for the project to proceed. The company also entered into a term sheet agreement with Slate Falls Nation to negotiate a final project agreement. Additionally, Cat Lake First Nation and Lac Seul First Nation completed an Anishnaabe Led Impact Assessment Process, authorizing the project subject to 35 negotiated terms, and finalized an agreement with First Mining to mobilize development of an all-season access road to Cat Lake First Nation. These build upon a Long-Term Relationship Agreement signed in July 2025 with Mishkeegogamang First Nation, which established a collaborative approach for Springpole's development through construction, operations, and closure.

In Quebec, First Mining commenced its 2026 exploration drilling program at the Duparquet Gold Project, partnering with Forage Anicinape—an Indigenous-led drilling company established through a partnership between Forages Rouillier and the Coopérative de solidarité de Pikogan, representing the Pikogan First Nation. The 2026 campaign follows final results from the 2025 drilling program, which targeted the newly discovered Minuit zone and the North and South zone targets along the margins of the Beattie syenite intrusion, demonstrating higher-grade gold mineralization along strike and at depth.

Read the full announcement: First Mining Announces 2026 Second Quarter Financial Results and Operating Highlights