First Mining Finance Announces Positive Preliminary Economic Assessment for its Springpole Gold Project
Estimated after-tax NPV5% of US$792 million and 26.2% IRR for the Springpole Gold Project at base case long-term precious metal prices
First Mining Finance Corp. (TSX:FF) (OTCQX:FFMGF) (FRANKFURT:FMG) (“First Mining” or the “Company”) is pleased to announce the positive results of an independent Preliminary Economic Assessment (“PEA”) for its Springpole Gold Project (the “Project”) in northwestern Ontario, Canada. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by SRK Consulting (Canada) Inc. of Vancouver, Canada. The PEA describes the potential technical and economic viability of establishing a conventional open-pit gold mine-and-mill complex for the Project. The base case scenario utilizes long-term metal prices of $1,300 per ounce (“oz”) of gold (“Au”) and $20 per oz of silver (“Ag”).