Welcome!

News Feed Item

First Mining Provides Corporate and Exploration Update

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/01/16 -- First Mining Finance Corp. ("First Mining" or the "Company") (TSX VENTURE:FF)(OTCQX:FFMGF) is pleased to provide an update of its current exploration and corporate activities and to provide some guidance for its proposed activities in 2017.

At the Springpole Gold Project in northern Ontario the Company has completed its fall metallurgical drilling program in which four drill holes were completed comprising 1,712 metres. The intent of the metallurgical testing program is to determine the optimal grind size and processing flow sheet so as to maximize metallurgical recoveries. Assay results from the drill holes are expected to be released in early 2017 and the results from the metallurgical testing program are expected to be incorporated into a new Preliminary Economic Assessment ("PEA") for the Springpole project which is expected to be released during the first half of 2017.

Drilling has also been completed at the Pickle Crow Gold Project, also located in northern Ontario, in which nine drill holes were completed comprising 1,319 metres. The intent of this drilling campaign is to test the strike extent of Pickle Crow's Core Mine Trend and the Western Extension of the Core Mine Trend. Samples from the drilling program have been extracted with assay results expected to be available in early 2017.

Recently, the Company's Board of Directors approved a CDN$21 million exploration and development budget for 2017, including 47,000 metres of infill and exploration drill programs to advance the Company's Canadian priority assets.

The salient highlights of the proposed 2017 exploration program are detailed below.

Goldlund Gold Project

An infill and resource expansion program of up to 27,000 metres of drilling is to be carried out at the Goldlund project. The intent of this program is to upgrade the current mineral resource to a higher NI 43-101 category. The Company further intends to use the new resource estimate for the preparation of a PEA, the timing of which is to be determined at a later date. Drilling is expected to commence in the middle of the first quarter of 2017 and is expected to be mostly focused on Zone Seven, which hosts a significant portion of the mineralized material at the project.

Cameron Gold Project

An infill drilling program of up to 9,000 metres is to be carried out at the Cameron project in northern Ontario. The intent of this drilling program is to upgrade the current NI 43-101 Inferred Mineral Resource into the Measured and Indicated categories and to prepare the project for a PEA. Drilling is expected to commence during the summer of 2017.

Springpole Gold Project

An additional 6,000 metres of infill drilling is planned for the Springpole project during the summer of 2017. The program is expected to upgrade a substantial portion of the current NI 43-101 Inferred Mineral Resource into the Indicated category. In addition, the intent of this program is to prepare the Springpole project for a pre-feasibility study. In addition, environmental and baseline work intended to be used for the permitting process will soon commence at this project.

Hope Brook Gold Project

A 5,000 metre infill and exploration drilling program is to be carried out at the Hope Brook project in Newfoundland. The intent of this drilling program is to expand the current NI 43-101 complaint resources and to upgrade a majority of the Inferred Resource into the Measured and Indicated categories. The goal of the drilling campaign is to prepare Hope Brook for a PEA in late 2017.

Additional work is also to be carried out at the Company's other Canadian, U.S. and Mexican mineral assets which will be announced throughout 2017 as events unfold.

Keith Neumeyer, Chairman of First Mining stated, "Over a period of just over one year we have assembled one of the best portfolios of gold assets in the world. That being said we believe that there is tremendous organic value that can be unlocked by investing in our portfolio of assets. Given our robust treasury of approximately CDN$35 million we are confident the time is right to advance and de-risk our assets. In conclusion I believe that, given our new aggressive exploration strategy, 2017 could prove to be another transformational year for the Company."

Other Matters

The option agreement between First Mining and Exploraciones Mineras Penoles, S.A. de C.V. (an indirect Mexican subsidiary of Industrias Penoles S.A.B. de C.V. (Penoles, BMV: PE)), which was previously announced on November 20, 2015 and which granted Penoles an option to acquire First Mining's Puertecitos and Los Tamales copper properties in northern Sonora, Mexico, has been mutually terminated.

ABOUT FIRST MINING FINANCE CORP.

First Mining is a mineral property holding company whose principal business activity is to acquire high quality mineral assets with a focus in the Americas. The Company currently holds a portfolio of 25 mineral assets in Canada, Mexico and the United States with a focus on gold. Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc and nickel.

ON BEHALF OF FIRST MINING FINANCE CORP.

Keith Neumeyer, Chairman

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking information" and "forward-looking statements"(collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.

Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "plans", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things: the timing of disclosure by the Company of assay results, the timing and success of future drilling at the Company's Goldlund, Cameron, Springpole and Hope Brook projects, the total meterage planned to be drilled at any of such projects, the timing of a PEA with respect to any such projects, the timing of environmental and baseline work at the Springpole Gold project, the commencement of a pre-feasibility study for the Springpole Gold project, the upgrade of Inferred Mineral Resources to the Measured and Indicated categories at any of the Company's mineral projects and the expansion of resources at any of the Company's mineral projects. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, management's discretion to refocus its exploration efforts. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, First Mining does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Patrick Donnelly
President
604-639-8854

Derek Iwanaka
Vice President, Investor Relations
604-639-8824
www.firstminingfinance.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fra...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera MyS...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...