First Mining announced that it continues to explore mineralization trends of the Duparquet Project for extensions and new discovery zones through its ongoing Phase 3 drill program which aims to continue drill testing at the North Zone, Buzz Zone, Valentre Target and additional regional opportunities. Three additional drillholes were completed for a total of 1,527.4 m, all targeting the modelled sheared contact of the syenite and the mafic volcanics at the northern contact zone of the main resource ("North Zone Target"). Drill hole DUP24-022 was drilled as a step-out hole along strike of the main mineralized shear zone at Duparquet, within an area identified with significant extensional resource growth potential.

Historical drilling within the area largely occurred above the plunge of the main mineralization system, so this new hole targeted an extensional opportunity within the target area. The mafic volcanic unit intercepted in DUP24-022 will be further refined in the upcoming geological model updates. As a successful step-out along strike within this initial vectoring hole, First Mining realizes an important opportunity for additional step-outs that could have a significant potential for resource growth.

A series of drill holes are currently in the planning stage to further test the open mineralization along strike and down-plunge during the Phase 3 program. Drill hole DUP23-023 was drilled as a down-plunge, extensional follow-up opportunity to the significant intervals returned from DUP24-019 (3.07g/t Au over 10.32 m from 87.94 m to 98.26 m, including 9.19 g/t Au over 0.85 m from 87.94 m To 98.26 m, and 3.19 g/t Au across 4.53 m from 102.30 to 106.83 m, as reported on May 21, 2024). A favorable setting is recognized with the newly identified mineralized basalt units at this locality, and further refinement of the geological model, followed up by extensional drill testing will be a priority in the upcoming Phase 3 program.

The North Zone target has returned significant upside and value to the Duparquet Project and is a priority area for exploration optimization and potential extension of the current open pit and underground resource. The recent drill results continue to support the area as a highly prospective target zone for the Project, with potential to unlock meaningful upside along strike and at depth.