Jan 9 2017
First Mining Finance Corp. ("First Mining" or the "Company") announces that today it filed an amended independent Technical Report for its Pitt Gold Project which has been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The report is entitled "NI 43-101 Technical Report and Review of the Preliminary Resource Estimate for the Pitt Gold Project, Duparquet Township, Abitibi Region, Quebec, Canada".
The Technical Report for the Company's Pitt Gold Project covers veins 1, 2, and 3, with a combined Inferred mineral resource of 1,076,000 tonnes grading 7.42 g/t Au containing 257,000 ounces Au. A cut-off grade of 3.0 g/t Au over a minimum horizontal width of 1.5 metres was used to calculate the Inferred resources set out in the Technical Report which has an effective date of December 15, 2016 and was prepared by Micon International Limited ("Micon").
The amended technical report replaces the previous technical report for the Pitt Gold Project filed by First Mining on September 7, 2016. The amended technical report reclassifies the Indicated resources set out in the original report and concludes that all of the resources for the project are in the Inferred category. The change in the classification of the resource that was previously reported as Indicated is due to certain changes in the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Mineral Reserves that have been implemented since 2011.
A copy of the amended Technical Report can be accessed under the Company's SEDAR profile at www.sedar.com, or on the Company's website at www.firstminingfinance.com.
Dr. Chris Osterman, P.Geo. CEO of First Mining, is a "qualified person" as defined by NI 43-101 and he has reviewed and accepts responsibility for the technical information contained within this news release. Mr. William J. Lewis, P.Geo, Senior Geologist and Mr. Alan J. San Martin, MAusIMM, of Micon, the authors of the Technical Report, have also reviewed the technical information contained within this news release as independent "qualified persons" within the meaning of NI 43-101.