First Mining Reaches Deal for Springpole Gold Project

First Mining Gold has signed a development agreement with two First Nations for its Springpole Gold project in northwestern Ontario. The company’s stock rose in early trading following the announcement.

Cat Lake First Nation (CLFN) and Lac Seul First Nation (LSFN) finalized the deal with First Mining Gold. The agreement outlines all phases of the project, including construction, operations, and closure. Springpole holds an inferred resource of 4.8 million ounces of gold and 28 million ounces of silver.

Shares in First Mining (TSX: FF) increased 2.13% Thursday morning in Toronto. The agreement aims to respect land, air, water, and culture, while providing key benefits to both First Nations. It includes provisions for environmental management and monitoring, along with preferential training and employment for community members.

An Anishinaabe-led impact assessment (ALIA) process negotiated the agreement. This follows a $4-million agreement signed in June for an all-season access road linking Cat Lake to Sioux Lookout.