Springpole project expected to provide $15B boost to Canadian economy

First Mining Gold (TSX: FF: US-OTCQX: FFMGF) announced updated socio-economic analysis results for its Springpole gold project in Ontario. The company submitted the final environmental impact statement/environmental assessment in November 2024, which included an analysis of project benefits.

WSP Canada conducted an updated analysis based on the recent pre-feasibility study, demonstrating significant benefits to the local region, Ontario, and Canada.

"We are pleased to announce the socio-economic analysis results for Springpole, which demonstrate the potential for the project to be one of the largest economic drivers of Northwestern Ontario for generations to come," Dan Wilton, CEO of First Mining, stated.

He added: "The project will generate billions of dollars in government revenue, deliver hundreds of jobs and careers in the local region, provide significant contracting opportunities for regional and Indigenous businesses and add billions of dollars to the gross domestic product at a critical time for the Ontario and Canadian economy. Springpole is a transformative gold and silver project that will provide unprecedented opportunities and infrastructure improvements for the Indigenous and local communities in the area."

The updated analysis considers the socio-economic impact during construction, operations, and closure phases. In the current gold price environment, the project is expected to create 3,340 jobs annually during construction and 5,910 jobs annually during operations, totaling over 67,000 person-years of employment. The project is also projected to generate over $7 billion in tax revenue and contribute $15 billion to the gross domestic product.

As the Springpole gold project nears the end of both provincial and federal environmental assessment processes, it stands as one of the few near-term economic development opportunities in the Canadian mining sector.

More information is available at www.FirstMiningGold.com