First Mining Gold Corp. (“First Mining” or the
“Company”) (TSX:FF) (OTCQX:FFMGF) (Frankfurt:FMG) is
pleased to announce that a Project Description for the Springpole
Gold Project (“Springpole” or the “Project”) has been submitted to,
and subsequently accepted by, the Canadian Environmental Assessment
Agency (“the Agency”). Acceptance of the Project Description
by the Agency initiates the comment period for the screening
process to determine whether a federal Environmental Assessment
(“EA”) is required for Springpole.
Jeff Swinoga, Chief Executive Officer of First
Mining, stated “We believe our Springpole gold project has the
potential to become one of Canada’s largest new gold mines, and we
are very pleased to have commenced the Environmental Assessment
process, a step which marks the first major permitting milestone
for Springpole. Our very experienced team, with our values-based
culture, look forward to working diligently and respectfully with
all stakeholders throughout the EA process.”
Having accepted the Project Description, the
Agency has posted a summary of the Project Description on the
Canadian Environmental Assessment Registry Internet Site (“CEARIS”)
at http://www.ceaa.gc.ca/050/document-eng.cfm?document=121863.
It now has 45 calendar days, including a 20-day public
comment period (the “Review Period”), to determine whether a
Federal EA is required for Springpole. The Company expects an
EA will be required due to the criteria set forth under the
Canadian Environmental Assessment Act, 2012 (the “CEAA 2012”) and
associated Regulations. The Company intends to make all
official EA-related documents available for viewing on its website
at www.firstmininggold.com. These documents will also be
available on CEARIS. Upon determination that an EA is
required, the Agency will commence the comment period on the draft
Environmental Impact Statement (“EIS”) Guidelines (the
“Guidelines”). The Agency relies upon the Project
Description, consultation with Indigenous groups and public
comments to develop the Guidelines which First Mining will then
follow to prepare the EIS. The EIS Guidelines describe the
nature, scope and extent of information for the EA, including the
environmental effects that the EA must consider.
In summary, as per CEAA 2012, the Company
expects to follow the steps listed below to complete the federal EA
process for Springpole:
- The Agency determines whether the
Project Description is sufficient and accepts the Project
Description to initiate the screening process (this first 10-day
step has been completed).
- The screening process commences
when the accepted Project Description is posted on CEARIS and is
available for review and comments from the public.
- The Agency reviews the Project
Description for 45 calendar days to determine whether an EA is
required for Springpole – this includes a 20-day public comment
period.
- If the Agency determines that an EA
is required for Springpole, it will prepare and issue draft EIS
Guidelines for the Project, which will be available for public
review and comments.
- The Agency considers any public
comments received on the draft EIS Guidelines, including comments
from Indigenous groups and federal departments, then issues the
final EIS Guidelines to the Company.
- With input from all stakeholders,
including Indigenous groups, the Company completes its
environmental studies, prepares its EIS in accordance with the
Guidelines and submits the completed EIS to the Agency for review
and public comments.
- After considering any public
comments received on the EIS, the Agency drafts its EA Report (the
“Report”) for the Project, solicits public comments on the draft
Report, then finalizes the Report and submits it to the federal
Minister of Environment and Climate Change.
- The federal Minister of Environment
and Climate Change issues his or her EA decision statement, thus
concluding the EA process.
- If the federal Minister of
Environment and Climate Change determines that the Project is not
likely to cause significant adverse environmental effects, the
Project can then enter the permitting phase in which all permits
necessary to begin construction can proceed.
- Indigenous and public consultation
is integrated throughout the entire EA and permitting phase, with
all stakeholders given four opportunities to provide comments at
different stages of the federal EA process.
First Mining has already begun consultation
efforts with local Indigenous communities within the Springpole
area to support the EA process. These consultation efforts
with Indigenous communities will be ongoing throughout the EA
process, including consultation with local municipalities,
government agencies, non-governmental organizations and other
stakeholders.
In parallel with the federal EA process, First
Mining has also commenced discussions with the Ontario Ministry of
the Environment and Climate Change (“MOECC”) for the purposes of
entering into a Voluntary Agreement with the MOECC for Springpole
and thus initiating an individual provincial EA under the Ontario
Environmental Assessment Act. A decision from MOECC on this
is expected soon, after which Terms of Reference (“ToR”) for the
provincial EA will be prepared and submitted to MOECC for
review.
The ToR determines the scope of the provincial
EA and what alternatives must be assessed as well as environmental
aspects that could be impacted by the Project that the provincial
EA must consider. These aspects are prepared by First
Mining.
ABOUT FIRST MINING GOLD
CORP.
First Mining Gold Corp. is an emerging
development company with a diversified portfolio of gold projects
in North America. Having assembled a large resource base
of seven million ounces of gold in the
Measured and Indicated categories
and five million ounces of gold in the
Inferred category in mining friendly jurisdictions
of eastern Canada, First Mining is now focused on advancing its
assets towards production. The Company currently holds a portfolio
of 25 mineral assets in Canada, Mexico and the United States with a
focus on gold.
For further information, please contact: Derek
Iwanaka Vice President Investor Relations Toll-Free: 1-844-306-8827
Email: info@firstmininggold.com Website: www.firstmininggold.com
ON BEHALF OF FIRST MINING GOLD CORP. “Keith
Neumeyer”
Keith NeumeyerChairman 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. These forward-looking statements are made as of
the date of this news release. Forward-looking statements are
frequently, but not always, identified by words such as "expects”,
"anticipates”, "believes”, “plans”, “projects”, "intends”,
"estimates”, “envisages”, "potential”, "possible”, “strategy”,
“goals”, “objectives”, or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions.
Forward-looking statements in this news release
relate to future events or future performance and reflect current
estimates, predictions, expectations or beliefs regarding future
events and include, but are not limited to, statements with respect
to: (i) the issuance by the Agency of the EIS Guidelines after the
completion of the Review Period; (ii) the commencement of the
federal EA process; (iii) the Springpole Project being posted on
CEARIS and the availability of EA-related documents on such site;
(iv) continued consultation efforts with Indigenous communities,
and with local municipalities, government agencies and
non-governmental organizations, and the outcome of such
consultation efforts; and (v) the preparation of ToR for a
provincial EA and their submission to MOECC. All
forward-looking statements are based on First Mining's or its
consultants' current beliefs as well as various assumptions made by
them and information currently available to them. The most
significant assumptions are set forth above, but generally these
assumptions include: (i) the successful completion of the federal
and provincial EA processes; (ii) the success of consultations with
Indigenous communities, and with local municipalities, government
agencies and non-governmental organizations; and (iii) no material
issues being raised during the permitting phase of the Springpole
Project. Although the Company’s management considers these
assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect.
By their very nature, forward-looking statements
involve inherent risks and uncertainties, both general and
specific, and risks exist that estimates, forecasts, projections
and other forward-looking statements will not be achieved or that
assumptions do not reflect future experience. We caution
readers not to place undue reliance on these forward-looking
statements as a number of important factors could cause the actual
outcomes to differ materially from the beliefs, plans, objectives,
expectations, anticipations, estimates assumptions and intentions
expressed in such forward-looking statements. These risk
factors may be generally stated as the risk that the assumptions
and estimates expressed above do not occur as forecast, but
specifically include, without limitation: (i) risks relating to any
material issues that may be identified during the federal or
provincial EA process; (ii) risks relating to consultation efforts
with various stakeholders; (iii) general risks related to
permitting activities; (iv) developments in world metals markets;
(v) risks relating to fluctuations in the Canadian dollar relative
to the US dollar; (vi) management’s discretion to refocus the
Company’s exploration efforts and/or alter the Company’s short and
long term business plans; and (vii) the additional risks described
in First Mining's Annual Information Form for the year ended
December 31, 2016 filed with the Canadian securities regulatory
authorities under the Company’s SEDAR profile at www.sedar.com, and
in First Mining’s Annual Report on Form 40-F filed with the SEC on
EDGAR.
First Mining cautions that the foregoing list of
factors that may affect future results is not exhaustive.
When relying on our forward-looking statements to make decisions
with respect to First Mining, investors and others should carefully
consider the foregoing factors and other uncertainties and
potential events. First Mining does not undertake to update
any forward-looking statement, whether written or oral, that may be
made from time to time by the Company or on our behalf, except as
required by law.
Cautionary Note to United States
Investors
This news release has been prepared in
accordance with the requirements of the securities laws in effect
in Canada, which differ from the requirements of U.S. securities
laws. Unless otherwise indicated, all resource and reserve
estimates included in this news release have been prepared in
accordance with National Instrument 43-101 Standards of Disclosure
for Mineral Projects ("NI 43-101”) and the Canadian Institute of
Mining, Metallurgy, and Petroleum 2014 Definition Standards on
Mineral Resources and Mineral Reserves. NI 43-101 is a rule
developed by the Canadian Securities Administrators which
establishes standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral
projects. Canadian standards, including NI 43-101, differ
significantly from the requirements of the United States Securities
and Exchange Commission ("SEC”), and mineral resource and reserve
information contained herein may not be comparable to similar
information disclosed by U.S. companies. In particular, and
without limiting the generality of the foregoing, the term
"resource” does not equate to the term "reserves”. Under U.S.
standards, mineralization may not be classified as a "reserve”
unless the determination has been made that the mineralization
could be economically and legally produced or extracted at the time
the reserve determination is made. The SEC's disclosure
standards normally do not permit the inclusion of information
concerning "measured mineral resources”, "indicated mineral
resources” or "inferred mineral resources” or other descriptions of
the amount of mineralization in mineral deposits that do not
constitute "reserves” by U.S. standards in documents filed with the
SEC. Investors are cautioned not to assume that any part or
all of mineral deposits in these categories will ever be converted
into reserves. U.S. investors should also understand that
"inferred mineral resources” have a great amount of uncertainty as
to their existence and great uncertainty as to their economic and
legal feasibility. It cannot be assumed that all or any part
of an "inferred mineral resource” will ever be upgraded to a higher
category. Under Canadian rules, estimated "inferred mineral
resources” may not form the basis of feasibility or pre-feasibility
studies except in rare cases. Investors are cautioned not to
assume that all or any part of an "inferred mineral resource”
exists or is economically or legally mineable. Disclosure of
"contained ounces” in a resource is permitted disclosure under
Canadian regulations; however, the SEC normally only permits
issuers to report mineralization that does not constitute
"reserves” by SEC standards as in-place tonnage and grade without
reference to unit measures. The requirements of NI 43-101 for
identification of "reserves” are also not the same as those of the
SEC, and reserves reported by the Company in compliance with NI
43-101 may not qualify as "reserves” under SEC standards.
Accordingly, information concerning mineral deposits set forth
herein may not be comparable with information made public by
companies that report in accordance with U.S. standards.
First Mining Gold (TSX:FF)
Historical Stock Chart
From Mar 2024 to Apr 2024
First Mining Gold (TSX:FF)
Historical Stock Chart
From Apr 2023 to Apr 2024