T S X FF O T C Q X FFM G F F R AN K F U R T FM G www f i r s t m i n i n g g o l d c o m F OR W AR D L O O KIN G S T A T E M E N T S T h is p r e s e n ta ti o n i n c l u d e s c e r t a in f or w ar d lo o k in g i n for m at i on an d for w ar d lo o k in g s ta te m e n ts c o lle c t iv e ly for w ar d lo o k in g s ta te m e n ts w it h in th e me a n i n g of a p p l ic a b le C an ad i an an d Un it e d S ta te s s e c u r it ie s le g is la t io n i n c l u d i n g th e Un it e d S ta te s P r iv a t e S e c u r i t i e s Lit ig a t io n Re for m A c t of 19 95 T h e s e for w ar d lo o k in g s ta te m e n ts ar e ma d e as of th e d a te of t h is p r e s e n ta ti o n Fo r w a r d lo o k in g s ta te m e n ts ar e f r e q u e n tl y b u t n ot al w ay s id e n t if i e d b y w or d s su ch as e x p e c t s a n ti c i p a te s b e l i e v e s p l a n s p r o j ec t s i n te n d s e s t i ma t e s e n v i sa g e s p o te n ti a l p o s s ib le s tr a te g y g oal s o b j e c t iv e s or v ar i at i on s th e r e o f or s ta ti n g th a t c e r t a in ac t i on s e v e n t s or r e s u l ts m a y c o u l d w o u l d m i g h t or w ill b e ta k e n o ccu r or b e a c h ie v e d or th e n e g a t iv e of an y of th e s e t e r ms an d s im ila r e xp r e s s i o n s Fo r w a r d lo o k in g s ta te m e n ts in th i s p r e s e n ta ti o n r e la t e to f u tu r e e v e n t s or f u tu r e p e r f o r ma n c e a n d r e f l e c t c u r r e n t e s t i ma t e s p r e d i c ti o n s e x p e c ta ti o n s or b e l ie f s r e g a r d i n g f u t u r e e v e n t s an d in c lu d e b u t ar e n ot lim it e d t o s ta te m e n ts w it h r e s p e c t to i th e d is p o s it io n of an y of th e C o m p a n y s mi n e r a l p r o p e r ti e s or th e e n t e r i n g i n to of an y j o in t v e n t u r e o p t io n or e a r n in a g r e e me n t s w it h r e s p e c t to t h e C om p an y s p r o p e r ti e s ii th e t im in g an d am ou n t of f u tu r e e x p l or at i o n an d e x p e n d i tu r e s an d t h e p o s s ib le r e s u l ts of su c h e x p l or at i on ii i th e e s t i ma t e d a m o u n t an d g r ad e of m in e r a l r e s o u r c e s at t h e C om p an y s p r o j e c t s iv th e e x p e c t e d b e n e f i ts of t h e t r an s a c t i on w it h F ir s t M a j e s t i c S ilv e r C or p v th e c o mp l e t i o n an d e x p e c t e d b e n e f i t s of th e t r an s ac t i on w it h T r e a s u r y M e t a ls I n c T r e a s u r y M e t a l s v i th e f u tu r e p la n s an d o b j e c t iv e s r e la t in g to t h e c o mb i n e d G o ld lu n d G ol i at h g o ld p r o j e c t v ii th e C om p an y s p l a n s to d i s tr i b u te a s ig n if ic a n t p or t i on of th e e q u i ty c on s i d e r at i on f r o m th e t r an s ac t i on w it h T r e a s u r y M e t a ls to s h a r e h o l d e r s of th e C om p an y v i ii th e p l a n n e d l is t in g of th e T r e a s u r y w ar r an t s on th e T SX an d OTC Q X ix th e a n t i c i p a te d t im i n g of T r e a s u r y M e t a ls h o l d i n g it s a n n u a l g e n e r a l a n d sp e ci a l me e t i n g of s h a r e h o l d e r s to ap p r ov e th e t r an s ac t i on x th e r e c e i p t of a ll n e c e s s a r y a p p r o v a ls to c o mp l e t e th e tr a n s a c ti o n w it h T r e a s u r y M e t a l s i n c l u d i n g s h a r e h o l d e r an d T SX ap p r ov al s x i th e S p r i n g p o l e P EA r e p r e s e n ti n g a v ia b le d e v e l o p me n t op t i on f o r th e S p r i n g p o l e p r o j e c t x ii co n st r u ct i o n of a mi n e at th e S p r i n g p o l e p r o j e c t an d r e l a t e d ac t i on s in c lu d in g d e w a te r i n g a c t iv it ie s x ii i e s t i ma t e s of th e c a p i ta l co st s of c o n s tr u c ti n g m in e f a c i lit ie s an d b r i n g i n g a m in e i n to p r o d u c ti o n of s u s ta i n i n g c ap i t al an d th e d u r a ti o n of f i n a n c i n g p ay b ac k p e r i o d s r e l a t e d to t h e S p r i n g p o l e p r o j e c t x iv t h e e s t i ma t e d am ou n t of f u t u r e p r o d u c ti o n b ot h p r o d u c e d an d me t a l r e c o v e r e d f r o m th e S p r i n g p o l e p r o j e c t x v l if e of m in e e s t i ma t e s an d e s t i ma t e s of op e r at i n g co st s an d t ot al co st s n e t ca sh f lo w n e t p r e s e n t v a lu e an d e c on om i c r e tu r n s f r o m an op e r at i n g m in e c o n s tr u c te d at th e S p r i n g p o l e p r o j e c t x v i th e a d v a n c e me n t of p e r m i tti n g a c t iv it ie s an d ap p l i c at i on s r e la t e d to t h e S p r i n g p o l e p r o j e c t x v ii th e t im i n g of th e r e s u l ts of a P r e F e a s ib i lit y S tu d y f o r th e S p r i n g p o l e p r o j e c t an d x v ii i th e t im in g f o r s u b m i tti n g an E n v i r o n m e n ta l I mp a c t S t a t e me n t in r e s p e c t of th e S p r i n g p o l e p r o j e c t an d al l d a te s th a t r e l a t e to t h e p e r m i tti n g t im e l in e f o r th e p r o j e c t A ll for w ar d l ook i n g s ta te m e n ts ar e b a s e d o n F ir s t M in in g s or it s c o n s u l ta n ts c u r r e n t b e l i e f s as w e ll as v a r io u s a s s u m p ti o n s ma d e b y th e m an d i n for m at i on c u r r e n tl y a v a ila b le to th e m By th e i r v e r y n a tu r e for w ar d lo o k in g s ta te m e n ts in v o l v e i n h e r e n t r i s k s an d u n c e r ta i n ti e s b ot h g e n e r a l an d sp e ci f i c an d r i s k s e x is t th a t e s t i ma t e s f o r e ca st s p r o j e c ti o n s an d o t h e r for w ar d lo o k in g s ta te m e n ts w il l n ot b e a c h ie v e d or t h at a s s u m p ti o n s d o n ot r e f l e c t f u tu r e e x p e r i e n c e We c au t i on r e a d e r s n ot to p la c e u n d u e r e li a n c e on t h e s e for w ar d lo o k in g s ta te m e n ts as a n u m b e r of i m p or t an t fac t or s c o u ld ca u se th e ac t u al o u t c o me s to d i f f e r m a t e r ia ll y f r o m th e b e l i e f s p l a n s o b j e c t iv e s e x p e c ta ti o n s a n ti c i p a t i o n s e s t i ma t e s a s s u m p ti o n s an d i n te n ti o n s e x p r e s s e d in su ch for w ar d lo o k in g s ta te m e n ts T h e s e r i sk fac t or s ma y b e g e n e r a lly s ta te d as th e r is k th a t th e a s s u m p ti o n s an d e s t i ma t e s e x p r e s s e d a b o v e d o n ot o ccu r as f o r e ca st b u t s p e c if ic a lly i n c l u d e w i th o u t lim it a t io n i th e r is k th a t th e C om p an y s b u s i n e s s op e r at i on s an d f in a n c ia l c on d i t i on m ay b e m a t e r ia lly a d v e r s e l y a f f e c t e d b y th e o u tb r e a k of e p i d e mi c s p a n d e m i c s or o th e r h e a l th cr i se s su c h as C O V I D 19 an d b y r e ac t i on s b y g o v e r n me n t a n d p r iv a t e ac t or s to su c h o u tb r e a k s ii r i s k s to th e h e a l th an d s a f e t y of th e C om p an y s e mp l o y e e s an d c o n s u l ta n ts as a r e s u lt of th e o u tb r e a k of e p i d e m i c s p a n d e mi c s or o t h e r h e a l th cr i se s su c h as C O V ID 19 th a t m ay r e s u lt in a s l ow d ow n or t e mp o r a r y s u s p e n s i o n of op e r at i on s at s o me or al l of th e C o m p a n y s mi n e r a l p r o p e r t i e s as w e ll as it s h e a d o f f i c e ii i th e r is k th a t th e C o m p a n y w il l n ot b e su c ce s sf u l in c o mp l e t i n g a d d it io n a l a c q u i s i ti o n s iv r i s k s r e la t in g to th e r e s u l ts of e x p l or at i on a c t iv it ie s v r i sk s r e l a ti n g to th e a b i lit y of th e C om p an y to e n te r i n to j oi n t v e n tu r e e ar n in r oy al t y or s t r e a mi n g s tr u c tu r e a g r e e me n t s or to d i sp o se of it s mi n e r a l p r o p e r ti e s v i d e v e l o p m e n t s in w or l d m e t a ls ma r k e t s v ii r i s k s r e l a ti n g to f l u c tu a ti o n s in th e s p ot an d for w ar d p r ic e of g o ld s ilv e r b as e me t a l s or c e r t a in o t h e r c o mmo d i t i e s v ii i r i s k s r e la t in g to f l u c tu a ti o n s in th e C an a d i an d o ll a r r e la t i v e to th e US d o ll a r ix th e s p e c u la t iv e n a tu r e of mi n e r a l e x p l or at i o n an d d e v e l o p m e n t x r i s k s an d h az ar d s as s oc i at e d w it h th e b u s i n e s s of mi n e r a l e x p l o r a ti o n d e v e l o p m e n t a n d m i n i n g i n c l u d i n g e n v i r o n m e n ta l h az ar d s i n d u s tr i a l a c c i d e n ts u n u s u a l or u n e x p e c t e d for m at i on s p r e ss u r e s c a v e in s an d f l o o d i n g x i a v a i la b il it y of n e c e s s a r y f i n a n c i n g an d an y i n cr e a se s in f i n a n c i n g co st s or a d v e r s e c h a n g e s to th e t e r ms of a v a ila b l e f i n a n c i n g if an y x ii c h a n g e s in r e g u la t io n s a p p l y i n g to t h e d e v e l o p me n t op e r at i o n an d cl o su r e of m in in g op e r at i on s f r o m w h at c u r r e n tl y e x is t s x ii i th e e f f e c t s of c o m p e t it io n in th e ma r k e t s in w h ic h F ir s t M in in g o p e r a t e s x iv op e r at i on a l an d i n f r a s tr u c tu r e r i sk s x v r i sk s r e la t in g to v a r ia t io n s in t h e m in e r a l c o n te n t w i th i n th e ma t e r i a l i d e n t if ie d as mi n e r a l r e s o u r c e s f r o m th a t p r e d i c te d x v i r i s k s r e la t in g to th e f a il u r e to c o mp l e t e th e tr a n s a c ti o n w it h T r e a s u r y M e t a ls x v ii r i s k s r e la t in g to th e f a i lu r e to d i s tr i b u te a s ig n if ic a n t p o r t io n of t h e e q u i ty c on s i d e r at i on f r o m th e tr a n s a c ti o n w it h T r e a s u r y M e t a ls to th e C o m p a n y s s h a r e h o l d e r s x v i ii i n c r e a s e s in e s t i ma t e d c a p i ta l a n d op e r at i n g c o st s or u n a n t i c i p a te d co st s w it h r e s p e c t to a n y of th e C om p an y s mi n e r a l p r o j e c t s x i x d if f ic u lt ie s a ttr a c ti n g th e n e c e s s a r y w o r k f o r c e xx r i sk s r e la t in g to r e c e i p t of p e r mi t s an d r e g u l at or y a p p r o v a ls x xi d e la y s in s t a k e h o l d e r n e g ot i at i on s i n c l u d i n g n e g ot i at i on s w it h I n d i g e n o u s c o mmu n i t i e s ar ou n d ou r ma t e r i a l p r o j e c ts x x ii t ax r a t e s or r o y a lt ie s b e i n g g r e a t e r th a n a s s u me d x x ii i c h a n g e s in d e v e l o p m e n t or m in in g p la n s d u e to c h a n g e s in l o g i st i ca l te c h n i c a l or o t h e r fac t or s x x iv c h a n g e s in p r o j e c t p a r a me t e r s as p l a n s c o n ti n u e to b e r e f i n e d xx v ma n a g e me n t s d is c r e t io n to a lt e r t h e C o m p a n y s s h or t an d lo n g t e r m b u s i n e s s p l a n s an d x x v i th e a d d it io n a l r i s k s d e s c r i b e d in Fi r s t M in in g s A n n u a l I n for m at i on Fo r m f or th e y e a r e n d e d D e c e m b e r 31 2019 f ile d w it h th e C an ad i a n s e c u r it ie s r e g u l at or y a u th o r i ti e s u n d e r th e C o m p a n y s S EDA R p r o f il e at www s e d a r c o m an d in Fi r s t M in in g s A n n u a l Re p or t on Fo r m 40 F f ile d w it h th e SE C on EDGA R Fi r s t M in in g c a u ti o n s th a t th e for e g oi n g lis t of fac t or s th a t ma y a f f e c t f u tu r e r e s u l ts is n ot e x h a u s t iv e W h e n r e ly in g on o u r for w ar d lo o k in g s ta te m e n ts to m ak e d e c is io n s w it h r e sp e c t to Fi r s t M i n i n g i n v e s to r s an d o th e r s s h o u l d c a r e f u l ly c o n s i d e r th e for e g oi n g fac t or s an d o th e r u n c e r ta i n ti e s an d p ot e n t i al e v e n t s Fi r s t M in in g d o e s n ot u n d e r ta k e to u p d a te an y for w ar d lo o k in g s ta te m e n t w h e t h e r w r i tte n or or al t h at ma y b e ma d e f r o m t im e to t im e b y th e C om p an y or on ou r b e h a l f e x c e p t as r e q u i r e d b y la w H a z e l M u ll in P G e o D i r e c t o r D at a M a n a g e me n t an d T e c h n i c a l S e r v i c e s of Fi r s t M in in g G o ld C or p is a q u a l i f i e d p e r s o n f o r th e p u r p o s e s of N a ti o n a l I n s tr u m e n t 43 1 01 S ta n d a r d s of D i scl o su r e f o r M in e r a l P r o j e c t s NI 43 1 01 an d s h e h as r e v i e w e d an d ap p r ov e d th e s c ie n t if ic an d te c h n i c a l d i scl o su r e c o n ta i n e d in th i s p r e s e n ta ti o n N ote a l l i n f o r m a t i o n pr e s e nt e d i n C an ad i an d o l l a r s unl e s s o t he r w i s e no t e d as at J u l y 3 2020 J u l y 2020 1