---



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CONTENTS

|Important
      information about this document            | 4 
|---------------------------------------------------------- | --
|Reporting
      currency and financial information         | 4 
|Caution
      about forward-looking information            | 4 
|Examples
      of forward-looking information in this AIF  | 4 
|Material
      risks                                       | 5 
|Material
      assumptions                                 | 6 
|National
      Instrument 43-101 definitions               | 7 
|Glossary
      of units                                    | 8 
|Glossary
      of elements                                 | 8 
|Cautionary
      note to US investors                      | 9 
|                                                           |   
|About
      First Mining                                   | 10
|Vision
      and strategy                                  | 10
|General
      overview of our business                     | 11
|Reorganizations                                            | 18
|Major
      developments                                   | 18
|Recent
      developments                                  | 20
|Significant
      acquisitions                             | 21
|How
      First Mining was formed                          | 21
|Corporate
      organization chart                         | 22
|Our
      projects                                         | 22
|                                                           |   
|Material
      Properties                                  | 23
|                                                           |   
|Springpole                                                 | 23
|Technical
      report                                     | 23
|Project
      description, location and access             | 23
|History                                                    | 25
|Geological
      setting, mineralization and deposit types | 25
|Exploration                                                | 26
|Drilling                                                   | 26
|Sampling,
      analysis and data verification             | 27
|Mineral
      processing and metallurgical testing         | 29
|Mineral
      resource estimates                           | 30
|Recent
      activities                                    | 31
|                                                           |   
|Goldlund                                                   | 33
|Technical
      report                                     | 33
|Project
      description, location and access             | 33
|History                                                    | 34
|Geological
      setting, mineralization and deposit types | 34
|Exploration                                                | 35
|Drilling                                                   | 35
|Sampling,
      analysis and data verification             | 36
|Mineral
      processing and metallurgical testing         | 40
|Mineral
      resource estimates                           | 40
|                                                           |   
|Cameron                                                    | 42
|Technical
      report                                     | 42
|Project
      description, location and access             | 42
|History                                                    | 43
|Geological
      setting, mineralization and deposit type  | 44
|Exploration                                                | 44
|Drilling                                                   | 44

2016 Annual Information Form  Page 2

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CONTENTS
(continued)

|Sampling,
      analysis and data verification                   | 45 
|---------------------------------------------------------------- | ---
|Mineral
      processing and metallurgical testing               | 49 
|Mineral
      resource estimates                                 | 50 
|                                                                 |    
|Pickle
      Crow                                                | 52 
|Technical
      report                                           | 52 
|Project
      description, location and access                   | 52 
|History                                                          | 53 
|Geological
      setting, mineralization and deposit types       | 53 
|Exploration                                                      | 54 
|Drilling                                                         | 55 
|Sampling,
      analysis and data verification                   | 56 
|Mineral
      processing and metallurgical testing               | 58 
|Mineral
      resource estimates                                 | 60 
|Recent
      activities                                          | 61 
|                                                                 |    
|Hope
      Brook                                                 | 63 
|Technical
      report                                           | 63 
|Property
      description, location and access                  | 63 
|History                                                          | 64 
|Geological
      setting, mineralization and deposit types       | 65 
|Exploration                                                      | 65 
|Drilling                                                         | 66 
|Sampling,
      analyses and data verification                   | 66 
|Mineral
      processing and metallurgical testing               | 69 
|Mineral
      resource estimates                                 | 69 
|                                                                 |    
|Non-material
      properties                                    | 70 
|                                                                 |    
|Risks
      that can affect our business                         | 74 
|Types
      of risk                                              | 74 
|Exploration,
      development, production and operational risks | 75 
|Financial
      risks                                            | 80 
|Political
      risks                                            | 82 
|Regulatory
      risks                                           | 83 
|Environmental
      risks                                        | 84 
|Industry
      risks                                             | 85 
|Other
      risks                                                | 86 
|                                                                 |    
|Investor
      information                                       | 89 
|Share
      capital                                              | 89 
|Common
      shares                                              | 89 
|Preferred
      shares                                           | 90 
|Security-based
      compensation and convertible securities     | 90 
|Material
      contracts                                         | 91 
|Market
      for our securities                                  | 91 
|Trading
      activity                                           | 92 
|Our
      team                                                   | 93 
|Interests
      of experts                                       | 99 
|Legal
      counsel                                              | 100
|Additional
      information                                     | 100

2016 Annual Information Form  Page 3

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Important information about this document

|This annual information form (AIF) provides
      important information about the Company. It describes, among other things,
      our history, our markets, our exploration and development projects, our
      mineral resources, sustainability, our regulatory environment, the risks
      we face in our business and the market for our shares. |  | Throughout this document, the terms we, us, our, the
      Companyand FirstMiningmean First Mining Finance Corp.
      and its subsidiaries, in the context.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------

Information on our website is not part of this AIF, nor is it
incorporated by reference herein. Our filings on SEDAR are also not part of this
AIF, nor are they incorporated by reference herein.

Reporting currency and financial information

The financial currency of the Company is Canadian dollars.
Unless we have specified otherwise, all dollar amounts ($) referred to
in this AIF are in Canadian dollars. Any references to US$ mean United
States (US) dollars.

All financial information presented in this AIF has been
prepared in accordance with International Financial Reporting Standards as
issued by the International Accounting Standards Board.

Caution about forward-looking
information

This AIF includes statements and information about our
expectations for the future. When we discuss our strategy, business prospects
and opportunities, plans and future financial and operating performance, or
other things that have not yet taken place, we are making statements considered
to be forward-looking information or forward-looking statements under applicable
securities laws. We refer to them in this AIF as forward-looking information.

Key things to understand about the forward-looking information
in this AIF:

| |  | It typically includes words and phrases about the future,
      such as expect, believe, estimate, anticipate,
      plan, intend, predict, goal, target,
      forecast, project, scheduled, potential, strategyand
      proposed(see examples listed below).                                                                                                                                                                                                                          
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |  | It is based on a number of material assumptions,
      including those we have listed below, which may prove to be incorrect.                                                                                                                                                                                                                                                                                                                                                            
| |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |  | Actual results and events may be significantly different
      from what we currently expect, because of the risks associated with our
      business. We list a number of these material risks on the next page. We
      recommend you also review other parts of this AIF, including the section
      Risks that can affect ourbusinessstarting on page 74,
      which discuss other material risks that could cause our actual results to
      differ from current expectations.

Forward-looking information is designed to help you understand
managements current views of our near and longer term prospects. It may not be
appropriate for other purposes. We will not update or revise this
forward-looking information unless we are required to do so by applicable
securities laws.

Examples of forward-looking information
in this AIF

| |  | statements regarding future acquisitions of
      mineral properties                                                                      
| | - | ------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                           
| |  | our intention to acquire mineral assets in
      geopolitically safe areas of the Americas                                                
| |   |                                                                                                                                           
| |  | our objective of entering into agreements with
      other parties to advance our projects                                                
| |   |                                                                                                                                           
| |  | our plan to retain a residual interest in
      projects in the form of royalties, metal streams, minority interests
  or equity positions

2016 Annual Information Form  Page 4

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| |  | statements relating to our vision and strategy                                                                                                                                               
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                              
| |  | our intention to eventually pay a dividend to
      our shareholders                                                                                                                         
| |   |                                                                                                                                                                                              
| |  | statements relating to the criteria we will use
      when assessing potential acquisitions                                                                                                  
| |   |                                                                                                                                                                                              
| |  | our belief that we will continue to be able to
      locate and retain professionals with the necessary specialized skills and
      knowledge                                               
| |   |                                                                                                                                                                                              
| |  | statements regarding shifts in gold demand,
      increases in the number of urban consumers in China and India and
      increases in disposable income                                     
| |   |                                                                                                                                                                                              
| |  | statements regarding higher average gold price
      in 2016 leading to an increase in capital spending in 2017                                                                              
| |   |                                                                                                                                                                                              
| |  | our intention to continue to make expenditures
      to ensure compliance with applicable laws and regulations                                                                               
| |   |                                                                                                                                                                                              
| |  | our expectation that we will release a new NI
      43-101 (as defined herein) compliant preliminary economic assessment for
      the Springpole Project (as defined herein) around mid-2017
| |   |                                                                                                                                                                                              
| |  | our intentions and expectations regarding
      exploration at any of our mineral properties                                                                                                 
| |   |                                                                                                                                                                                              
| |  | forecasts relating to mining, development and
      other activities at our operations                                                                                                       
| |   |                                                                                                                                                                                              
| |  | forecasts relating to market developments and
      trends in global supply and demand for gold                                                                                              
| |   |                                                                                                                                                                                              
| |  | future royalty and tax payments and rates                                                                                                                                                    
| |   |                                                                                                                                                                                              
| |  | future work on our non-material properties                                                                                                                                                   
| |   |                                                                                                                                                                                              
| |  | our mineral reserve and mineral resource
      estimates                                                                                                                                     

Material risks

| |  | exploration, development and production risks                                                                                                                                                    
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                                  
| |   |                                                                                                                                                                                                  
| |  | global financial conditions                                                                                                                                                                      
| |   |                                                                                                                                                                                                  
| |  | commodity price
    fluctuations                                                                                                                                                                 
| |   |                                                                                                                                                                                                  
| |  | availability of capital and financing on acceptable
    terms                                                                                                                                    
| |   |                                                                                                                                                                                                  
| |   |                                                                                                                                                                                                  
| |  | our mineral reserve and resource estimates may not be
      reliable, or we may encounter unexpected or challenging geological,
      hydrological or mining conditions                          
| |   |                                                                                                                                                                                                  
| |   |                                                                                                                                                                                                  
| |  | our exploration plans may be delayed or may not succeed                                                                                                                                          
| |   |                                                                                                                                                                                                  
| |   |                                                                                                                                                                                                  
| |  | we may not be able to obtain or maintain necessary
      permits or approvals from government authorities                                                                                        
| |   |                                                                                                                                                                                                  
| |   |                                                                                                                                                                                                  
| |  | we may be affected by environmental, safety and
      regulatory risks, including increased regulatory burdens or delays
      expenses, or our tax expense estimates, may prove to be inaccurate

| |  | there may be defects in, or challenges to, title to our
    properties                                                                                                               
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                      
| |   |                                                                                                                                                                                      
| |  | we may be unable to enforce our legal rights under our
      existing agreements, permits or licences, or may be subject to litigation
    or arbitration that has an adverse outcome
| |   |                                                                                                                                                                                      
| |   |                                                                                                                                                                                      
| |  | accidents or equipment breakdowns may occur                                                                                                                                          
| |   |                                                                                                                                                                                      
| |  | cyclical nature of the mining industry                                                                                                                                               
| |   |                                                                                                                                                                                      
| |   |                                                                                                                                                                                      
| |  | there may be changes to government regulations or
    policies, including tax and trade laws and policies                                                                            
| |   |                                                                                                                                                                                      
| |   |                                                                                                                                                                                      
| |  | we may be adversely affected by changes in foreign
    currency exchange rates, interest rates or tax rates                                                                          
| |   |                                                                                                                                                                                      
| |   |                                                                                                                                                                                      
| |  | our estimates of production, purchases, costs,
      decommissioning or reclamation                                                                                                  
| |   |                                                                                                                                                                                      
| |  | uncertainties and costs related to
      determining whether mineral resources or mineral reserves exist on a
    property                                                           

2016 Annual Information Form  Page 5

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| |  | natural phenomena, including inclement weather, fire,
      flood and earthquakes                                                                                                                                                                                                                                                                                                                                                         
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |  | our operations or the operations of third parties to whom
      we transfer properties in which we retain an interest may be disrupted due
      to problems with our own or our customers facilities, the unavailability
      of reagents or equipment, equipment failure, lack of tailings capacity,
      labour shortages, ground movements, transportation disruptions or
      accidents or other exploration and development risk

| |  | future sales by existing shareholders could reduce the
    market price of our shares                                                                                                        
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                              
| |  | a substantial number of our shares are held by an
      exchange traded fund which is in a position to exercise influence over
    matters requiring shareholder approval, among other things
| |   |                                                                                                                                                                                              
| |   |                                                                                                                                                                                              
| |   |                                                                                                                                                                                              

Material assumptions

| |  | the assumptions regarding market conditions
      upon which we have based our capital expenditure expectations
| | - | ---------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                
| |  | the
      availability of additional capital and financing on acceptable terms, or
    at all                  
| |   |                                                                                                                
| |  | our mineral reserve and resource estimates and
      the assumptions upon which they are based are reliable    
| |   |                                                                                                                
| |  | the success
    of our exploration plans                                                                       
| |   |                                                                                                                
| |  | our expectations regarding spot prices
    and realized prices for gold and other precious metals              
| |   |                                                                                                                
| |  | market
      developments and trends in global supply and demand for gold meeting
    expectations             
| |   |                                                                                                                
| |  | our expectations regarding tax rates and
      payments, foreign currency exchange rates and interest rates    
| |   |                                                                                                                
| |  | our reclamation expenses                                                                                       
| |   |                                                                                                                
| |  | the geological conditions at our properties                                                                    

| |  | our ability to comply with current and future
      environmental, safety and other regulatory requirements, and to obtain and
      maintain required regulatory approvals without undue delay                                                                                                                                                                                                                                                                                                                                      
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| |  | our operations or the operations of third
      parties who own properties in which we have an interest are not
      significantly disrupted as a result of natural disasters, governmental or
      political actions, litigation or arbitration proceedings, the
      unavailability of reagents, equipment, operating parts and supplies
      critical to our activities, equipment failure, labour shortages, ground
      movements, transportation disruptions or accidents or other exploration
      and development risks
| |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| |  | our ability to support stakeholders necessary
      to develop our mineral projects                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| |  | the accuracy of geological, mining and
      metallurgical estimates                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| |  | maintaining good relationships with the
      communities in which we operate                                                                                                                                                                                                                                                                                                                                                                                                                                                        







2016 Annual Information Form  Page 6

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National Instrument 43-101 definitions

Canadian reporting requirements for disclosure of mineral
properties are governed by National Instrument 43-101 Standards of Disclosure
for Mineral Projects(NI 43-101). The definitions in NI 43-101 are
adopted from those given by the Canadian Institute of Mining Metallurgy and
Petroleum(CIM).

|Mineral Resource           | The term mineral resource refers to a concentration or
      occurrence of diamonds, natural, solid, inorganic or fossilized organic
      material including base and precious metals, coal and industrial minerals
      in or on the Earths crust in such form and quantity and of such a grade
      or quality that it has reasonable prospects for economic extraction. The
      location, quantity, grade, geological characteristics and continuity of a
      mineral resource are known, estimated or interpreted from specific
      geological evidence and knowledge.                                                                                                                                                                                  
|-------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Measured Mineral Resource  | The term measured mineral resource refers to that part
      of a mineral resource for which quantity, grade or quality, densities,
      shape and physical characteristics are so well established that they can
      be estimated with confidence sufficient to allow the appropriate
      application of technical and economic parameters, to support production
      planning and evaluation of the economic viability of the deposit. The
      estimate is based on detailed and reliable exploration, sampling and
      testing information gathered through appropriate techniques from locations
      such as outcrops, trenches, pits, workings and drill holes that are spaced
      closely enough to confirm both geological and grade continuity.
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Indicated Mineral Resource | The term indicated mineral resource refers to that part
      of a mineral resource for which quantity, grade or quality, densities,
      shape and physical characteristics can be estimated with a level of
      confidence sufficient to allow the appropriate application of technical
      and economic parameters, to support mine planning and evaluation of the
      economic viability of the deposit. The estimate is based on detailed and
      reliable exploration and testing information gathered through appropriate
      techniques from locations such as outcrops, trenches, pits, workings and
      drill holes that are spaced closely enough for geological and grade
      continuity to be reasonably assumed.                         
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Inferred Mineral Resource  | The term inferred mineral resource refers to that part
      of a mineral resource for which quantity and grade or quality can be
      estimated on the basis of geological evidence and limited sampling and
      reasonably assumed, but not verified, geological and grade continuity. The
      estimate is based on limited information and sampling gathered through
      appropriate techniques from locations such as outcrops, trenches, pits,
      workings and drill holes.                                                                                                                                                                                                                                                                            
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|Qualified Person           | The term qualified person refers to an individual who
      is an engineer or geoscientist with at least five years of experience in
      mineral exploration, mine development, production activities and project
      assessment, or any combination thereof, including experience relevant to
      the subject matter of the project or report and is a member in good
      standing of a self-regulating organization.                                                                                                                                                                                                                                                                                                                                        

2016 Annual Information Form  Page 7

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Glossary of units

|Unit                            | Abbreviation
|------------------------------- | ------------
|centimetre(s)                   | cm          
|cubic metre(s)                  | m3          
|day                             | d           
|degree(s)                       | °           
|foot/feet (as context requires) | ft.         
|gram(s)                         | g           
|grams per tonne                 | g/t         
|hectare(s)                      | ha          
|kilogram(s)                     | kg          
|kilometre(s)                    | km          
|metre(s)                        | m           
|micrometre(s)                   | μm          
|million ounces                  | Moz.        
|million tonnes                  | Mt          
|ounce(s)                        | oz.         
|ounce(s) per tonne              | oz./t       
|parts per million               | ppm         
|square kilometre(s)             | km2         
|square metre(s)                 | m2          
|tonne(s)                        | t           
|tonnes per cubic metre          | t/m3        

Glossary of elements

|Element | Abbreviation
|------- | ------------
|copper  | Cu          
|gold    | Au          
|silver  | Ag          

2016 Annual Information Form  Page 8

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Cautionary note to US investors

Technical disclosure contained or incorporated by reference in
this AIF has not been prepared in accordance with the requirements of United
States securities laws and uses terms that comply with reporting standards in
Canada with certain estimates prepared in accordance with NI 43-101.

NI 43-101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure an issuer
makes of scientific and technical information concerning mineral projects.
Unless otherwise indicated, all mineral reserve and mineral resource estimates
contained in this AIF have been prepared in accordance with NI 43-101 and the
CIM Classification System.

Canadian standards, including NI 43-101, differ significantly
from the requirements of the United States Securities and Exchange Commission
(SEC), and mineral reserve and resource information contained or
incorporated by reference in this AIF may not be comparable to similar
information disclosed by US companies. In particular, and without limiting the
generality of the foregoing, the term resource does not equate to the term
reserves.

Under US standards, mineralization may not be classified as a
reserve unless the determination has been made that the mineralization could
be economically and legally produced or extracted at the time the reserve
determination is made and volumes that are not reserves should not be
disclosed. Among other things, all necessary permits would be required to be in
hand or issuance imminent in order to classify mineralized material as reserves
under SEC standards. Accordingly, mineral reserve estimates included in this AIF
may not qualify as reserves under SEC standards. The SECs disclosure
standards normally do not permit the inclusion of information concerning
measured mineral resources, indicated mineral resources or inferred mineral
resources or other descriptions of the amount of mineralization in mineral
deposits that do not constitute reserves by US standards in documents filed
with the SEC.

Our US investors should also understand that inferred mineral
resources have a great amount of uncertainty as to their existence and great
uncertainty as to their economic and legal feasibility. It cannot be assumed
that all or any part of an inferred mineral resource will ever be upgraded to
a higher category. Under Canadian rules, estimated inferred mineral resources
may not form the basis of feasibility or pre-feasibility studies except in rare
cases. Investors are cautioned not to assume that all or any part of an
inferred mineral resource exists or is economically or legally mineable.
Disclosure of contained ounces in a resource is permitted disclosure under
Canadian regulations; however, the SEC normally only permits issuers to report
mineralization that does not constitute reserves by SEC standards as in-place
tonnage and grade without reference to unit measures. In addition, the
definitions of proven mineral reserves and probable mineral reserves under
reporting standards in Canada differ in certain respects from the standards of
the SEC. Accordingly, information concerning mineral deposits set forth or
incorporated by reference herein may not be comparable with information made
public by companies that report in accordance with US standards.

2016 Annual Information Form  Page 9

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About First Mining

Headquartered in Vancouver, British Columbia, we are a new
"mineral property bank" business concept initiated by our Chairman, Mr. Keith
Neumeyer. Our business model is to acquire high-quality mineral assets in
geopolitically safe areas of the Americas and either advance them or hold (ie.
bank) them until a time when capital markets for commodities and mining
improves.

At that point we would endeavor to add value for our
shareholders, including potentially entering into agreements with other parties
who would move the projects forward through development, and we would retain a
residual interest in the projects. The residual interests may be in the form of
royalties, metal streams, minority interests or equity positions in the party
that is moving the project forward.

|We are publicly listed on the TSX Venture Exchange
      (TSX-V) under the trading symbol FF, on the Frankfurt Stock
      Exchange under the symbol FMG and in the US on the OTC-QX under the
      trading symbol FFMGF. Our experienced management team has decades of
      experience in evaluating, exploring and developing mineral assets.
      Since listing on the TSX-V in April 2015, First Mining has  completed eight transactions, and as a result we have accumulated approximately  6.8 million ounces of gold Measured and Indicated Resources and approximately  5.0 million ounces of gold Inferred Resources across our entire property  portfolio, which comprises of 25 mineral assets in Canada, Mexico and the  United States. |                                                 | First Mining
      Finance Corp.  
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------- | ----------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (TSX-V: FF; OTC-QX:
      FFMG; Frankfurt: FMG)
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                 |                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Head Office:                                    | Registered & Records
      Office:
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                 |                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | First Mining Finance Corp.                      | McCullough OConnor Irwin LLP     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Suite 1805, Cathedral Place                     | Suite 2600, Oceanic Plaza         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 925 West Georgia Street                         | 1066 West Hastings Street         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Vancouver, BC V6C 3L2                           | Vancouver, BC V6E 3X1             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Canada                                          | Canada                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Telephone: 604.639.8848                         |                                   

Vision and strategy

Our vision is to build one of the largest portfolios of
exploration and development projects in the Western Hemisphere. To achieve this
goal, our strategy is to:

| |  | acquire high quality mineral projects that have
      had multi-millions of dollars invested on exploration and development, but
      at a fraction of the cost;                                                                                             
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                                                                                               
| |  | add internal, organic value by de-risking some
      of our assets through exploration, drilling, calculating resource
      estimates, conducting economic studies and other activities;                                                                     
| |   |                                                                                                                                                                                                                                                               
| |  | utilize our management teams expertise to
      identify acquisition targets and hold our assets until we are able to
      monetize them in the form of re-sales, joint ventures, royalty structures
      or a combination of such revenue-type models; and
| |   |                                                                                                                                                                                                                                                               
| |  | ultimately pay a dividend to our shareholders.                                                                                                                                                                                                                

We consider the following criteria when assessing potential
acquisition targets:

| |  | Quality of asset we consider factors such
      as economics, grade, size and exploration potential, metallurgy and
      mineability (eg. strip ratio) when assessing a new mineral property.                   
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |   |                                                                                                                                                                                                                   
| |  | Location we are focused on assets located
      in politically stable and mining friendly jurisdictions.                                                                                                         
| |   |                                                                                                                                                                                                                   
| |  | Availability of infrastructure we
      consider whether the project has good access to power, water, highways,
      ports and a labour force.                                                                  
| |   |                                                                                                                                                                                                                   
| |  | Holding costs we take into account the
      holding costs (eg. assessment work requirements) and annual taxes payable
      on the mineral claims when deciding whether to acquire a new mineral
      property.
| |   |                                                                                                                                                                                                                   
| |  | Valuation until recently, our
      focus has been on significantly undervalued gold assets, most of which
      have had an enterprise value of less than US$10 per ounce of gold.                              

2016 Annual Information Form  Page 10

---

We are in the exploration and development stage of our
corporate development, and we do not own any producing properties. Consequently,
we have no current operating income or cash flow from our properties, nor have
we had any income from operations in the past three financial years. At this
time, our operations are primarily funded by equity subscriptions.

An investment in First Mining is speculative and involves a
high degree of risk due to the nature of our business and the present stage of
exploration of our mineral properties. We encourage readers to carefully
consider the risk factors that are set out in this AIF in the section Risks
that can affect our businesswhich starts on page 74.

Principal products

We are currently in the exploration stage and do not produce,
develop or sell mineral products. Our principal focus is primarily on gold.

Specialized skills and knowledge

Our business requires individuals with specialized skills and
knowledge in the areas of geology, drilling, geophysics, geochemistry,
metallurgy and mineral processing, implementation of exploration programs,
mining engineering, accounting, and compliance. To date, we have been able to
locate and retain such professionals in Canada and in the USA, and we believe we
will be able to continue to do so.

Competitive conditions

We operate in a very competitive industry and compete with
other companies in the mineral exploration and mining industry in all phases of
exploration and development, including: (a) seeking out and acquiring mineral
exploration and development properties; (b) obtaining the resources necessary to
identify and evaluate mineral properties and to conduct exploration and
development activities on such properties; and (c) raising the capital necessary
to fund our operations.

As a result of this competition, we may at times compete with
other companies that have greater financial resources and technical facilities,
and we may be unable to acquire properties of interest in the future on terms we
consider to be acceptable, or to attract or retain qualified personnel. As well,
we cannot assure you that additional capital or other types of financing will be
available if needed or that, if available, the terms of such financing will be
favourable to us.

Cycles

The mining business is subject to commodity price cycles. The
gold market, late in 2010, made significant gains in terms of US dollars but
remained volatile throughout 2011 and suffered significant declines in 2013 and
2014. The financial markets for mining in general and mineral exploration and
development in particular, continued to be very weak through to 2016. If the
global economy stalls and commodity prices decline as a consequence, a
continuing period of lower prices could significantly affect the economic
potential of many of our current properties and may result in First Mining
ceasing work on, or dropping its interest in, some or all of our properties. As
we do not carry on production activities, our ability to fund ongoing
exploration is affected by the availability of financing (and particularly
equity financing) which, in turn, is affected by the strength of the economy and
other general economic factors.

In addition, our mineral exploration activities may be subject
to seasonality due to adverse weather conditions at our project sites. Drilling
and other exploration activities on our properties may be restricted during the
winter season as a result of various weather related factors
including, without limitation, inclement weather, snow covering the ground,
frozen ground and restricted access due to snow, ice or other weather related
factors.

2016 Annual Information Form  Page 11

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Gold market fundamentals and
trends1

Demand

Gold has emotional, cultural and financial value worldwide, and
this supports demand across generations. It is fashioned into jewellery, it is
used to manage risk in financial portfolios and protect the wealth of nations,
and it is found in smart phones and cutting-edge medical diagnostics. These
diverse uses for gold (in jewellery and technology, and by central banks and
investors), mean that, across the decades, different sectors in the gold market
have risen in prominence at different points in the global economic cycle. This
self-balancing nature of the gold market typically means that there is a
sustained base level of demand.



Gold demand in 2016 gained 2% to reach a three-year high of
4,308.7 t, and the price of gold ended the year up by 8%. Annual inflows into
ETFs reached 531.9 t, the second highest on record. Declines in jewellery and
central bank purchases offset this growth. Annual bar and coin demand was
broadly stable at 1,029.2 t, helped by a surge in the last quarter of 2016.

Jewellery

A dominant area of demand for gold has always been jewellery.
Prized for its value and beauty, gold jewellery has a universal status that
remains constant. Between 2011 and 2015, the jewellery industry has, on average,
accounted for around 50% of global gold demand, but the source of this demand
has shifted in line with the new dynamics of economic growth and wealth in the
world.

India and China are the two largest markets for gold jewellery,
together representing over half of global consumer demand. Part of the large
appetite for jewellery in these countries is driven by the cultural role gold
plays; it is considered auspicious to buy gold at key festivals and events.
Limited access to financial assets means gold has an important parallel status as a store of value. In both India
and China, gold jewellery is a desirable possession as well as an investment to
be passed down through generations.

________________________________________
1 All of
the information contained in this section Gold market fundamentals and
trends has been sourced from articles on the World Gold Councils website,
www.gold.org. First Mining has not independently verified any of this
information and makes no assurances as to its accuracy. Readers should visit the
World Gold Councils website for comprehensive details regarding the discussion
contained in this section.

2016 Annual Information Form  Page 12

---

2016 saw a seven-year low for jewellery demand. Rising prices
for much of the year, regulatory and fiscal hurdles in India, and Chinas
softening economy were key reasons for weakness in the sector. Overall, however,
gold demand by the jewellery industry currently shows no signs of abating,
driven by growing wealth and demographic shifts: by 2020 India and China
combined will have one billion new urban consumers. These aspirational
populations in Asia are also experiencing a rise in disposable income, which is
driving gold demand.

Investment

Gold has unique qualities that enhance risk management and
capital preservation for institutional and private investors the world over.
Research has shown that a modest allocation to gold makes a valuable
contribution to the performance of a portfolio by protecting against downside
risk without reducing long term returns. These qualities are considered to be
particularly important during periods of financial stress. However, golds
effectiveness in stabilising returns and protecting capital is just as relevant
regardless of economic environment. Today, investment in gold accounts for about
a third of global demand. This demand is made up of direct ownership of gold
bars and coins, or indirect ownership via Exchange-Traded Funds (ETFs)
and similar products.

Investment demand for gold in 2016 was up by 70%, reaching its
highest level since 2012. The past year also represented the second best year
for gold ETFs on record since 2009, with demand from gold-backed ETFs and
similar products reaching 531.9 t. The last quarter of 2016 did see 193.1 t of
outflows from the gold ETFs.

Global demand for gold bars and coins was, for the most part,
stable. Chinas gold bar and coin demand was its strongest since 2013, and
demand in the United States reached 93.2t, its highest level since 2010.
Conversely, Indias gold market suffered in 2016, gold bar and coin demand in
the Middle East fell to its lowest level on record (18.1 t), and in East Asia it
fell by 7%.

Central Bank Purchasing

Central banks behaviour with respect to gold has fundamentally
shifted over the past few years. This reflects a combination of slowing sales
from European central banks and large purchases from emerging market countries
in Latin America, the Middle East and Asia. Since 2010, central banks have been
net buyers of gold, and their demand has expanded rapidly, growing from less
than 2% of total world demand in 2010 to 14% in 2014.

This change in behaviour is a clear acknowledgement of the
benefits that gold can bring to a reserve portfolio. Some banks have bought gold
to diversify their portfolios, especially from US$ denominated assets, with
which gold has a strong negative correlation. Others have bought gold as a hedge
against tail risks or because of its inflation-hedging characteristics (gold has
a long history of maintaining its purchasing power). Gold plays a prominent role
in reserve asset management, as it is one of the few assets that is universally
permitted by the investment guidelines of the worlds central banks. This is in
part due to the gold market being deep and liquid, which is a key characteristic
required by reserve asset managers.

2016 was the seventh consecutive year of net purchases of gold
by central banks, albeit the lowest annual total since 2010. In total, central
banks bought 383.6 t on a net basis during the year, 33% lower than in 2015. The
slowdown in purchases and increase in sales can be partly attributed to pressure
on FX reserves.

Buying in 2016 was led by Russia, China and Kazakhstan.
Together, they accounted for around 80% of the full-year figure. Qatar joined
the ranks of central banks adding to gold holdings, increasing its reserves by a
net 6.8 t between January and October. Net buying was strongest in the last
quarter of 2016, when central banks accumulated over 114 t of gold, despite a
stronger US dollar.

2016 Annual Information Form  Page 13

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Demand for Gold in Technology

Around 9% of global demand for gold is for technical
applications. The electronics industry accounts for the majority of this, where
golds conductivity and resistance to corrosion make it the material of choice
for manufacturers of high-specification components. In addition, the metals
excellent biocompatibility means that it continues to be used in dentistry.

Beyond electronics and dentistry, gold is used across a variety
of high-technology industries, in complex and difficult environments, including
the space industry, and in fuel cells. Golds catalytic properties are also
beginning to create demand from both within the automotive sector (as the metal
has now been proven to be a commercially viable alternative to other materials
in catalytic converters), and within the chemical industry.

A range of healthcare and catalytic applications for gold is
currently being developed as the field of nanotechnology expands. While this
demand is still small in tonnage terms, the growing number of patents being
published relating to gold nanotechnology suggests many new applications will be
developed in the coming years.

Despite an upturn late in the year, annual demand for gold in
technology fell 3% in 2016, from 332.0 t to 322.5t. First quarter weakness,
caused by global economic uncertainty, higher gold prices and substitution,
squeezed the full year total. The last quarter of 2016, however, was a bright
spot, with quarterly demand hitting its highest level since the second quarter
of 2015. Gold used in electronics rose 4% year-over-year to 66.9 t in the last
quarter of 2016, boosted by increased demand for gold bonding wire and Printed
Circuit Boards (PCBs). While demand slowed in the LED and wireless sectors,
rampant growth in the gold bonding wire and PCB industries lifted the quarterly
total to positive territory.

Total Gold Demand (Tonnes)



Supply

Over the past 10 years, the annual total supply of gold has
averaged around 4,000 t. In 2016, the total global supply of gold was 4,571 t,
with global demand at 4,309 t for the year. In the last quarter of 2016, global
gold supply was 1,036 t (demand for gold for the same period was 994 t).

While many people are aware that gold is sourced from the earth
through mining, this is not the only way in which gold is supplied to the
market. Total mine supply (the sum of mine production and net producer hedging)
accounts for two thirds of total gold supply. Recycled gold accounts for the
remaining third.

2016 Annual Information Form  Page 14

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Mine production

The sources of mine production have become as geographically
diverse as gold demand. China was the largest producer in the world in 2015,
accounting for around 14% of total production. Asia as a whole produces 23% of
all newly-mined gold. Central and South America produce around 17% of the total,
with North America supplying around 16%. Around 19% of production comes from
Africa and 14% from the CIS region.

Mined gold totalled 3,236 t in 2016, virtually unchanged from
2015. Gold production peaked in the third quarter, when 850.4 t was brought on
to the market, before falling back to 810.9 t in the last quarter of 2016.
However, 2016 did signal a renewed vigour for exploration. In November, a
Moody's report predicted that the higher average gold price in 2016 will spur an
increase in capital spending over the coming year. SNL Metals & Mining, in
its recent Gold Mined Supply Report, also highlighted renewed interest in
exploration in the latter part of 2016.2

Producer hedging

There are times when gold producers will want to lock in a
future price for their gold  for example, so that they can ensure a return
appropriate to their current production costs. The gold sold into the market
adds to supply in the short term. It brings metal on to the active market  and
allows mining companies to sell metal ahead of their production schedules.

2016 saw a near-doubling of annual net producer hedging, to
26.3 t from 13.5 t. Gold producers, who have struggled with the falling gold
price in recent years, saw an opportunity to secure cash flow at higher prices.

The first and second halves of 2016 were polar opposites. In
the first half, net hedging was a feature of the market (70.4 t), as strong
price gains (around 25% by mid-year) prompted some miners to act. Currency
movements had driven the gold price up to record levels in some key producer
currencies. But in the second half of the year the gold price struggled to hold
onto these gains, leading to a shift in tone with producers less keen to hedge
in a falling price environment. Net de-hedging (of 44.1 t) was a feature of the
second half of 2016.

Recycled gold

Because gold is virtually indestructible, all the gold ever
mined still exists, apart from a small amount which has been lost. Gold is
recoverable from most of its uses and capable of being melted down, re-refined
and reused. Recycled gold therefore plays an important part in the dynamics of
the gold market. While gold mine production is relatively inelastic, the gold recycling industry provides an
easily-traded supply of gold when it is needed, thereby helping to stabilise the
gold price.

________________________________2 Gold Mined
Supply December 2016: Short-term plans, short-sighted benefits, SNL Metals &
Mining, December 2016.

2016 Annual Information Form  Page 15

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The growth in recycling in 2016, up 17% from 1,116.5 t to
1,308.5 t, was concentrated in the first three quarters of the year. At its
peak, gold was almost 30% up from end-2015 levels, and these higher gold prices
created an environment in which recycling thrived.

Total Gold Supply (Tonnes)



Total Gold Supply & Demand (Tonnes)



Economic dependence

Our business is dependent on the acquisition, exploration,
development and operation of mineral properties. We are not dependent on any
contract to sell our products or services or to purchase the major part of our
requirements for goods, services or raw materials, or on any franchise or
licence or other agreement to use a patent, formula, trade secret, process or
trade name upon which our business depends.

2016 Annual Information Form  Page 16

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Employees

As of the date of this AIF, we have 13 full-time employees and
2 part-time employees, and we utilize consultants and contractors as needed to
carry on many of our activities and, in particular, to supervise and carry out
the work programs at our mineral projects.

Environmental protection

We are subject to the laws and regulations relating to
environmental matters in all jurisdictions in which we operate, including
provisions relating to property reclamation, discharge of hazardous materials
and other matters.

We may also be held liable should environmental problems be
discovered that were caused by former owners and operators of our projects. We
conduct our mineral exploration activities in compliance with applicable
environmental protection legislation. Our mineral properties have not created
any significant disturbance as far as we know, and we do not consider any of our
properties to be a financial risk to First Mining. In addition, we are not aware
of any existing environmental concerns related to any of our properties that may
result in material liability to First Mining. From a financial reporting
perspective, there were no reclamation liability amounts recorded in our audited
annual financial statements for the year ended December 31, 2016, given that the
nature of any reclamation work in relation to our mineral properties is not
material to First Mining at this time. We are also not aware of any existing
environmental problems related to any of our properties that may result in
material liability to First Mining.

If needed, and to the extent that it can be done economically,
we make and will continue to make expenditures to ensure compliance with
applicable laws and regulations. New environmental laws and regulations,
amendments to existing laws and regulations, or more stringent implementation of
existing laws and regulations could have a material adverse effect on us, both
financially and operationally, by potentially increasing capital and/or
operating costs and delaying or preventing the development of our mineral
properties.

We believe that the policies and procedures implemented by our
executive management team provide a safe working environment for all of our
employees, consultants, contractors and stakeholders. We recognize that safety
and environmental due diligence are significant components that enable long-term
sustainability of our operations and support our objective of projects being
completed in a cost effective and timely manner with excellent quality control.

Bankruptcy and similar procedures

There are no bankruptcies, receivership or similar proceedings
against us, nor are we aware of any such pending or threatened proceedings. We
have not commenced any bankruptcy, receivership or similar proceedings during
our history.

Foreign operations

We currently hold an interest in certain non-material, Tier 3
exploration stage mineral resource properties located in Mexico and the United
States. Such properties are exposed to various degrees of political, economic
and other risks and uncertainties. See Risks that can affect our businessstarting on page 74.

2016 Annual Information Form  Page 17

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Reorganizations

On March 30, 2015, we completed our Qualifying Transaction
(as such term is defined under the policies of the TSX-V) and acquired all of
the issued and outstanding common shares of KCP Minerals Inc. (formerly known as
Sundance Minerals Ltd.) (Sundance) (the Sundance Acquisition).
In connection with the Sundance Acquisition, we changed our name to First
Mining Finance Corp., completed a four-to-one (4:1) share consolidation and
continued under the laws of the province of British Columbia pursuant to the
provisions of the Business Corporations Act(British Columbia) (the
BCBCA).

Major developments

|2014
|----
|    
|   

|2015     
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|March    
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|        
|May      
|         
|        
|         
|July     
|         
|        
|         
|        
|         
|September
|         
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| | 2015                 
| | ---------------------
| |                      
| | September (continued)
| |                      
| |                     
| |                      
| | November             
| |                      
| |                     
| |                      
| |                     
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| |                     

2016 Annual Information Form  Page 18

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Major developments
(continued)

2016January
    We completed the acquisition of Goldrush pursuant to the
      Goldrush Arrangement and, as a result, we acquired their treasury of
      approximately $3.4 million. Under the transaction, each Goldrush
      shareholder received 0.0714 of a share of First Mining for each Goldrush
      share they held.**February**
    We entered into a definitive arrangement agreement with
      Clifton Star Resources Inc. (Clifton Star) pursuant to which we
      would acquire all of Clifton Stars outstanding shares by way of a
      court-approved plan of arrangement (the Clifton Star
      Arrangement).March
    We entered into a purchase agreement with Brionor
      Resources Inc. (Brionor) pursuant to which we agreed to acquire
      the Pitt gold property (the Pitt Property).April
    We completed our acquisition of Clifton Star pursuant to
      the Clifton Star Arrangement. Under the transaction, each Clifton Star
      shareholder received one First Mining share for each Clifton Star share
      they held. As a result of the transaction, we acquired the Québec mineral
      properties that were held by Clifton Star, namely a 100% interest in the
      Duquesne gold project (the DuquesneProject), a 100%
      interest in four early-stage precious and base metals projects, and a 10%
      indirect interest in the Duparquet gold project (the Duparquet
      Project). In addition, we acquired Clifton Stars treasury of
      approximately $11 million in cash. Following the transaction, Michel
      Bouchard, Clifton Stars former President and CEO, joined our Board.
    We completed our purchase of the Pitt Property from
      Brionor for $1.25 million, of which $250,000 was paid in cash and the
      remaining $1 million was satisfied through the issuance to Brionor of
      2,535,293 First Mining shares (based on the 20-day VWAP of Brionors
      shares as of March 6, 2016).May
    We entered into a share purchase agreement with Chalice
      Gold Mines Limited (Chalice), pursuant to which we agreed to
      acquire all of the shares of Cameron Gold Operations Ltd. (Cameron
      Gold), a wholly-owned subsidiary of Chalice and owner of the Cameron
      gold project in Ontario (the Cameron Project).
    We entered into an amalgamation agreement with Tamaka
      Gold Corporation (Tamaka), a privately held mineral exploration
      company that held a 100% interest in the Goldlund gold project in Ontario (the GoldlundProject), pursuant to which Tamaka would become a wholly-owned
      subsidiary of First Mining (the TamakaAmalgamation). 2016June
    We completed our acquisition of Cameron Gold. In
      connection with the transaction, we issued 32,260,836 First Mining shares
      to Chalice. Under the terms of the transaction, Chalice agreed not to sell
      more than 4,032,604 First Mining shares in any month after the expiry of
      the four month hold period on October 10, 2016, unless the sale is in a
      single block to a purchaser acceptable to First Mining. In addition, we
      issued Chalice a 1% net smelter returns (NSR) royalty on certain
      claims within the Cameron Project, and we have a right to repurchase 0.5%
      of the NSR royalty for $1 million.
    We completed the Tamaka Amalgamation, which resulted in
      Tamaka becoming a wholly-owned subsidiary of First Mining. Under the
      transaction, former Tamaka shareholders received an aggregate of
      approximately 92.5 million First Mining shares. In addition, under the
      terms of the transaction, certain Tamaka shareholders who held in the
      aggregate approximately 39.6% of the outstanding Tamaka shares have
      deposited the First Mining shares that they received under the transaction
      into escrow. 5,931,658 of these escrowed First Mining shares will be
      released from escrow on June 17, 2017, and every six months thereafter a
      further 5,931,658 First Mining shares will be released from escrow, until
      the final escrow release on June 17, 2019.
    Mr. Samir Patel was appointed as our new Corporate
      Counsel and Corporate Secretary, and Mr. Bill Tanaka joined the Company as
      Vice President, Technical Services.
    We granted 10,595,000 stock options to directors,
        officers, employees and consultants of First Mining, with an exercise
        price of $0.75 and exercisable for five years. Certain of these options
        are subject to vesting provisions in accordance with the rules and
      policies of the TSX-V.August
    We closed a non-brokered private placement (the
      Private Placement) of units (the Units) under which we
      raised gross proceeds of $27 million. We issued 33,750,000 Units with each
      Unit consisting of one First Mining share and one-half of a common share
      purchase warrant to purchase a First Mining share at $1.10 for a period of
      three years following the closing of the Private Placement. Certain of our
      directors and officers subscribed for an aggregate of 1,139,659 Units in
      the Private Placement.


2016 Annual Information Form  Page 19

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Major developments
(continued)

2016September
    We completed the sale of all of the outstanding shares of
      one of our Mexican subsidiaries, Minera Terra Plata S.A. de C.V.
      (Terra Plata), which owns the Peñasco Quemado, La Frazada and
      Pluton properties (the Mexican Silver Properties) located in
      Mexico to Silver One Resources Inc. (Silver One), formerly BRS
      Ventures Ltd. As a result of the transaction, Terra Plata became a
      wholly-owned subsidiary of Silver One, and Silver One acquired ownership
      of the Mexican Silver Properties. As consideration, we received six
      million common shares of Silver One, and we retained a 2.5% NSR royalty on
      the Mexican Silver Properties. Silver One may buy back 1.5% of this NSR
      royalty by paying US$1 million to us.
    Mr. Andrew Marshall was appointed as our new Chief
      Financial Officer.October
    We commenced a metallurgical drill program at our
      Springpole gold project, comprised of up to four drill holes totaling
      approximately 1,500 m. The intent of the metallurgical testing program is
      to determine the optimal grind size and processing flow sheet so as to
      maximize metallurgical recoveries. The results from this metallurgical
      testing program are expected to be incorporated into a new Preliminary
      Economic Assessment (PEA) for Springpole. 2016November****
    We commenced of a diamond drilling program at our Pickle
      Crow gold project, comprised of up to eight drill holes totaling
      approximately 1,100 m.**December**
    We provided an update of our
      exploration and corporate activities, and informed our investors that our
      Board has approved a $21 million exploration and development budget for
      2017, which contemplated approximately 47,000 m of infill and exploration
    drilling at our priority Canadian asset.   Recent developments 2017January
    We announced the filing of an amended technical report
      for the Pitt Gold Project entitled NI 43-101 Technical Report and Review
      of the Preliminary Resource Estimate for the Pitt Gold Project, Duparquet
    Township, Abitibi Region, Québec, Canada, and dated January 5, 2017.
    We announced the release of an initial mineral resource
      estimate for our Goldlund Gold Project located near the town of Sioux
      Lookout in northwestern Ontario.
    We announced the commencement of a 27,000 m drilling
      campaign at our Goldlund Gold Project, focused on in-fill and resource
      expansion of Zone Seven, and the signing of definitive asset purchase
      agreements to purchase certain mineral claims located in Ontario and
      Québec.February
    We announced the completion of our Fall 2016 drilling 2017February(continued)program at our Pickle Crow Project, which consisted of
      nine holes comprising approximately 1,300 m of drilling, and the
      completion of a metallurgical diamond drill program at our Springpole Gold
    Project located in northwestern Ontario.
    We announced the filing of a technical report outlining
      the initial resource estimate for our Goldlund Gold Project entitled
      Technical Report and Resource Estimation Update on the Goldlund Project,
    and dated January 23, 2017.
    We announced the completion of the acquisition of certain
      mineral claims located in Ontario and Québec, and the grant of 10,630,000
      stock options to directors, officers, employees and consultants of First
      Mining, with an exercise price of $0.85 and exercisable for five years.
      Certain of these options are subject to vesting provisions in accordance
    with the rules and policies of the TSX-V.   2016 Annual Information Form  Page 20   Recent developments (continued) 2017 March 
    We announced the release of an updated mineral
      resource estimate for our Cameron Gold Project located near the town of
      Sioux Narrows in northwestern Ontario. Significant acquisitions We have not completed any significant acquisitions during our
most recently completed financial year. How First Mining was
formed We were incorporated on April 4, 2005 in the Province of
Alberta, Canada pursuant to the Business Corporations Act(Alberta) under
the name Parkdale Petroleum Ltd. and changed our name on May 3, 2005 to
Albion Petroleum Ltd. (Albion). Albion was initially listed as a
capital pool company (CPC) on the TSX-V on September 30, 2005 under
the policies of the TSX-V. As a CPC, Albions only business had been to identify
and evaluate businesses or assets with a view to completing a Qualifying
Transaction (as that term is defined in TSX-V Policy 2.4). On July 1, 2014, Albion and Sundance entered into an
arrangement agreement whereby Albion agreed to acquire all of the issued and
outstanding shares of Sundance in exchange for shares of the resulting entity.
On March 11, 2015, Sundance was renamed as KCP Minerals Inc. (KCP), and
on March 30, 2015, Albion consolidated all of its issued and outstanding shares
on a four-for-one basis. Subsequently, Albion acquired all of the issued and
outstanding shares of KCP on a one-for-one basis, constituting its Qualifying
Transaction. Immediately following the completion of the transaction, Albion
was renamed as First Mining Finance Corp. On March 30, 2015, First Mining was
continued under the laws of the Province of British Columbia, Canada pursuant to
the BCBCA, and as a result, First Mining is now governed by the laws of the
Province of British Columbia. We are a reporting issuer in the province of British Columbia
(our principal reporting jurisdiction) and in each of the other provinces of
Canada. We currently have the following
      material wholly-owned subsidiaries:
    For more informationYou can find more
      information about First Mining on SEDAR (www.sedar.com), and on our
      website(www.firstminingfinance.com).
      See our most recent
      management proxy circular dated May 9, 2016 for additional information,
      including how our directors and officers are compensated, principal
      holders of our securities, and securities authorized for issuance under
      our equity compensation plans. See our audited consolidated
      annual financial statements and managements discussion and analysis for
      the financial year ended December 31, 2016 for additional financial
      information.
    Gold Canyon Resources Inc., a company
    incorporated under the BCBCA.
    Tamaka Gold Corporation, a
    company incorporated under the Business Corporations Act(Ontario) ("OBCA").
    PC Gold Inc., a company
    incorporated under the OBCA.
    Cameron Gold Operations Ltd., a
    company incorporated under the OBCA.
    Coastal Gold Corp., a company incorporated
    under the OBCA. Our other subsidiaries, which each have total assets and
revenues less than 10%, and in the aggregate less than 20%, of our total
consolidated assets or our total consolidated revenue, are excluded from the
above list. 2016 Annual Information Form  Page 21   Corporate organization chart The following diagram shows our current corporate structure and
material subsidiaries, including the properties held by the various
subsidiaries:   Note: 
    Our other subsidiaries, which each have total assets and
      revenues less than 10%, and in the aggregate less than 20%, of our total
      consolidated assets or our total consolidated revenue, are excluded from
      the above chart. Our projects We have interests in mineral properties located in Canada,
Mexico and the United States. As at December 31, 2016, these properties were
carried on our balance sheet as assets with a total book value of approximately
$228 million. The book value consists of acquisition costs plus cumulative
expenditures on properties for which the Company has future exploration plans.
The current book value is not necessarily the same as the total expenditures on
each property by the Company, as part of the expenditures on some properties
have been written down. The book value is also not necessarily the fair market
value of the properties. Our material and non-material projects are set out below. Material projects 
    Springpole Property (Ontario).................................................
    p. 23
    Goldlund Property (Ontario)....................................................
    p. 33
    Cameron Property (Ontario)....................................................
    p. 42
    Pickle Crow Property (Ontario)...............................................
    p. 52
    Hope Brook Property (Newfoundland &
      Labrador)................
    p. 63 Non-material projects 
    Canada...............................
    p. 70
    Mexico...............................
    p. 70
    United States.....................
    p. 74 2016 Annual Information Form  Page 22   Springpole Technical report The Springpole Property project (the Springpole
Project) description is based on the projects technical report: Preliminary Economic Assessment for the Springpole Project,
Ontario, Canada(effective date March 24, 2013, as amended October 7, 2016)
(the Springpole Technical Report). The report was prepared for us in
accordance with NI 43-101, by or under the supervision of Dr. Gilles Arseneau,
Ph.D., P.Geo.; Dr. Adrian Dance, Ph.D., P.Eng.; John Duncan, P.Eng.; Christopher
Elliot, FAusIMM; Mark Liskowich, P.Geo.; Bruce Murphy, FSAIMM; Michael Royle,
P.Geo.; Dr. Maritz Rykaart, Ph.D., P.Eng.; and Dino Pilotto, P.Eng.; all
qualified persons within the meaning of NI 43-101. The following description has
been prepared under the supervision of Chris Osterman, P.Geo. who is a qualified
person within the meaning of NI 43-101, but is not independent of us. The conclusions, projections and estimates included in this
description are subject to the qualifications, assumptions and exclusions set
out in the Springpole Technical Report, except as such qualifications,
assumptions and exclusions may be modified in this AIF. We recommend you read
the Springpole Technical Report in its entirety to fully understand the project.
You can download a copy from our SEDAR profile (www.sedar.com), or from
our website (www.firstminingfinance.com). Project description, location and access The Springpole Project lies approximately 110 km northeast of
the Municipality of Red Lake in northwest Ontario, Canada. The latitude and
longitude coordinates for the project are: 
    Latitude N51° 23′ 44.3′′
    Longitude W92° 17′ 37.4′′ The Universal Transverse Mercator map projection based on the
World Geodetic System 1984 (WGS84) zone 15N is: 
    Easting 549,183
    Northing 5,693,578
    Average Elevation 395 m During late spring, summer, and early fall, the Springpole
Project is accessible by floatplane direct to Springpole Lake or Birch Lake. All
fuel, food, and material supplies are flown in from Red Lake or Pickle Lake,
Ontario, or from Winnipeg, Manitoba, with flight distances of 110 km, 167 km,
and 370 km, respectively. The closest road access at present is the landing at
the old South Bay Mine on Confederation Lake, approximately 50 km away by air.
During winter, an ice road approximately 85 km long is constructed from the
South Bay landing point on Confederation Lake to a point about 1 km from
Springpole Lake camp. During breakup in spring and freeze-up in fall, access to
the Springpole Property is by helicopter. Gold Canyon acquired ownership of five patented claims in 1993
and six unpatented mining claims and related Crown leases for surface rights in
2011. The five patented claims are fee simple parcels with mining and surface
rights attached to all five claims registered with the Land Registry Office,
Kenora, Ontario. A total of 300 contiguous unpatented mining claims make up the
greater area of the Springpole Project and have been staked directly by Gold
Canyon. Through Gold Canyon, we lease 10 patented claims which are fee
simple parcels with mining and surface rights attached to registered, together
with the notices of lease, with the Land Registry Office in Kenora, Ontario. The
lease is for a term of 21 years less one day and terminates on April 14, 2031.
Under the lease, we are obligated to pay all applicable property taxes related to the 10 patented
claims during the lease term together with advance royalty payments on a sliding
scale of $50,000 per year (2011-2016), $60,000 (2016-2021), and $80,000
(2021-2031). These payments are to be credited to future NSR payables, if any.
We have an option to acquire these 10 patented claims and would be required to
do so upon the commencement of commercial production on these or certain
adjoining patented claims. This option term is renewable for a further period of
five years by providing notice and a $25,000 payment. The consideration payable
is, at our option on exercise or at the option of the leaseholder upon
commencement of commercial production, either (a) $5 million with the
leaseholder retaining a 1% NSR or (b) $4 million with the leaseholder retaining
a 2% NSR. We have a right of first refusal on any sale of the remaining royalty
interest on certain terms and conditions. 2016 Annual Information Form  Page 23   Through Gold Canyon, we also have an option and lease to a
  further 15 patented claims which are fee simple parcels with mining and surface
  rights attached and registered, together with the notice of option and lease,
  with the Land Registry Office, Kenora, Ontario. The option can be exercised by
  us before expiry of the earlier option period by confirmation of good standing
  of the agreement and payment of a $50,000 renewal fee. We are required to make
  option payments in the aggregate amount of $35,000 per year and to expend an
  aggregate of $300,000 on mining operations in each option term as a condition of
  any renewal and to pay all property taxes related to these patented claims. We
  have an option to acquire the 15 claims and would be required to do so upon the
  commencement of commercial production at any time during the option period by
  payment of an aggregate of $2 million. Upon exercise of the purchase option, we
  must also acquire the cabin on the property for the lesser of fair market value
or $20,000. Underlying royalties which affect the Springpole Property
are: 
    3% NSR on five patented claims payable to
      Jubilee Gold Exploration Ltd. (Jubilee Gold) upon commencement of
      commercial production with advance royalty payments of $70,000 per year,
      adjusted using the yearly Consumer Price Index. We have an option to
      acquire 1% of the NSR for $1,000,000 at any time, and a right of first
      refusal on any sale of the NSR. We can terminate the royalty obligations
      at any time by transferring the five patented claims back to Jubilee Gold;
    3% NSR on 10 leased patented claims payable to
      a leaseholder upon commencement of commercial production with advance
      royalty payments on a sliding scale of $50,000 per year (2011-2016),
      $60,000 per year (2016-2021), and $80,000 per year (2021-2031). We have a
      right to acquire up to 2% of the NSR for $1,000,000 per 1% at any time;
    3% NSR on 15 patented claims (held by us
      pursuant to an option and lease) is payable to an optionor and leaseholder
      during the option term upon commencement of commercial production or a 1%
      NSR if the purchase option is exercised prior to commercial production. We
      have a right to acquire the remaining 1% NSR by a payment of $500,000; and
    3% NSR on six unpatented mining claims payable
      to an individual vendor upon commencement of commercial production with
      advance royalty payments of $50,000 per year. We have an option to acquire
      all or a portion of the NSR at a rate of $500,000 per 1% of the NSR. We are required to purchase a vacation home owned by a vendor
that is located on the Springpole Property upon commencement of commercial
production. Subsequent to their acquisition, the Crown leases were to
expire. Gold Canyon subsequently received the lease renewal from the Crown Lands
Office. To keep an unpatented mining claim current, the mining claim
holder must perform $400 per mining claim unit worth of approved assessment work
per year, immediately following the initial staking date. The claim holder has
two years to file one year worth of assessment work. Surface rights are separate from mining rights. Should any
method of mining be appropriate, other than those claims for which Crown leases
were issued, the surface rights would need to be secured. 2016 Annual Information Form  Page 24   History Gold exploration on the property was carried out during two
main periods, one during the 1920s to 1940s, and a second period from 1985 to
the present. Between 1933 and 1936, extensive trenching and prospecting was
conducted on the Springpole Property, including 10 short holes totalling 458.5
m. Limited trenching and prospecting was competed in 1945. The area remained dormant until 1985. On the 30 patented claims
line cutting was done at both 30.5 m centres and 61 m centres. Subsequently,
geological mapping, humus geochemistry, and ground geophysics were conducted
over the grids. From 1986 through 1989, 118 diamond drill holes were completed
in seven drill phases totalling 38,349 m. In addition, during 1986 and 1987,
approximately 116,119 m2of mechanical stripping was carried out and
four petrographic reports were produced. From 1989 through 1992, an induced polarization survey over the
central portion of the Portage zone under Springpole Lake was conducted and the
Springpole Property was tested with eighteen core holes totalling 6,195 m. The
majority of the drilling was conducted on the Portage zone. At the same time, a
seven core hole drill program was completed around the east margins of
Springpole Lake and lake-bottom sediment sampling of Springpole Lake east of
Johnson Island was completed. During 1995, an exploration program consisting of remapping of
the main area, of some of the existing drill core, and a reinterpretation of the
geology was carried. During the 1995 and 1996 programs, an additional 69 hole
were drilled totalling 15,085 m on the Springpole Project proper and two drill
holes on Johnson Island. By late 1996, Gold Canyon acquired 100% of the
Springpole Property. Gold Canyon continued exploration in 1997 and 1998 with
another 51 core holes totalling 5,642 m. In the summer of 1998 a lake bottom sediment sampling program
was conducted in several areas of the Springpole Property. During 2004, 2005, and 2006, diamond drilling programs were
conducted on the property by Gold Canyon. In the fall of 2007, Gold Canyon embarked on a limited
exploration program to further investigate the Fluorite zone that was previously
identified. From early August through to the end of October 2009, Gold
Canyon re-logged and re-sampled a portion of the historic drill core stored at
Gold Canyons project site and temporary tent camp. During the spring and summer of 2010, a total of 8,664.2 m of
HQ core drilling was completed in 23 drill holes. In the winter of 2010, a total of six diamond drill holes were
drilled for a total of 1,774.5 m of HQ drilling. In 2011, Gold Canyon carried out a drill program which totaled
28,750 m in 80 diamond core holes. A 2012 drill program began in-filling the Portage zone based
upon results of the 2011 drill program. The 2012 drill program totaled 38,069 m
in 87 diamond core holes. In 2013, Gold Canyon commissioned SRK Consulting (Canada) Inc.
to complete a preliminary economic assessment on the Springpole Property. Geological setting, mineralization and
deposit types The Springpole Gold Property is within the Archean-aged
Birch-Uchi Greenstone Belt. Studies of the southern part of the Birch-Uchi
greenstone belt have revealed a long, multistage history of crustal development.
Based on mapping, lithogeochemistry, and radiometric dating, the
supracrustal rocks of the greenstone belt were subdivided into three
stratigraphic group-scale units (listed in decreasing age): the Balmer, Woman
and Confederation assemblages. This three-part subdivision was applied to most
of the Uchi Subprovince. The Confederation assemblage is thought to be a
continental margin (Andean-type) arc succession, versus the less certain
tectono-stratigraphic context of the other assemblages. Some relatively small
conglomeratic units likely form a synorogenic, discontinuously distributed,
post-Confederation assemblage in the Birch-Uchi greenstone belt. 2016 Annual Information Form  Page 25   The northern margin of the Birch-Uchi greenstone belt forms a
  pattern of sub-regional scale cusps of supracrustal strata alternating with
  batholiths. Basaltic units are prominent around the periphery of the greenstone
  belt and may be part of the Woman assemblage but the accuracy of this
  stratigraphic assignment is unknown. It is suggested that Confederation
assemblage age rocks make up the bulk of the greenstone belt. The Springpole Property is underlain by a polyphase alkali,
trachyte intrusive displaying autolithic breccia. The intrusive is comprised of
a system of multiple phases of trachyte that is believed to be part of the roof
zone of a larger syenite intrusive; fragments displaying phaneritic textures
were observed from deeper drill cores in the southeast portion of the Portage
zone. Early intrusive phases consist of megacrystic feldspar phenocrysts of
albite and orthoclase feldspar in an aphanitic groundmass. Successive phases
show progressively finer grained porphyritic texture while the final intrusive
phases are aphanitic. Within the country rocks to the north and east are
trachyte and lamprophyre dikes and sills that source from the trachyte- or
syenite-porphyry intrusive system. The main intrusive complex appears to contain many of the
characteristics of alkaline, porphyry style mineralization associated with
diatreme breccias (e.g. Cripple Creek, Colorado). This style of mineralization
is characterized by the Portage zone and portions of the East Extension zone
where mineralization is hosted by diatreme breccia in aphanitic trachyte. It is
suspected that the ductile shearing and brittle faulting have played a
significant role in redistributing structurally controlled blocks of the
mineralized rock. Diamond drilling in the winter of 2010 revealed a more complex
alteration with broader, intense zones of potassic alteration replacing the
original rock mass with biotite and pyrite. In the core area of the deposit
where fine grained disseminated gold mineralization occurs with biotite, the
primary potassic alteration mineral, gold displays a good correlation with
potassium/rubidium. Exploration No exploration activity is currently underway at the Springpole
Project, however, we did drill four representative holes in 2016 to provide
material for additional metallurgical testing. Drilling During the winters of 2007 and 2008 Gold Canyon conducted drill
programs that completed 21 holes totalling 3,159 m, 11 holes totalling 2,122 m,
and 7 holes totalling 2,452 m of diamond core drilling, respectively. During the winter of 2010, a total of six diamond drill holes
were drilled for a total of 1,774.5 m of HQ drilling. Two drill holes were not
completed and both holes ended in altered and mineralized rock. The drill
program revealed a more complex alteration with broader, intense zones of
potassic alteration replacing the original rock mass with biotite and pyrite.
During the spring and summer of 2010, a total of 8,664.2 m of HQ core drilling
was completed in 23 drill holes, averaging 44.23 m of drilling per 24-hour
shift, including time for moving the drill between drill sites. The 2011 drill program totaled 28,750 m in 80 diamond core
holes. Five of the diamond core holes were drilled for the purpose of
metallurgical testing. All these holes were twins of previously drilled
holes. The 2012 drill program began in-filling the Portage zone based
upon results of the 2011 drill program. The goal was to in-fill areas where
inferred mineral resource had been defined in the February 2012 mineral resource
update and to expand the mineral resource area to the southeast. The 2012 drill
program totaled 38,069 m in 87 diamond core holes. 2016 Annual Information Form  Page 26   Sampling, analysis and data verification Detailed descriptions of the drill core were carried out under
the supervision of a senior geologist, a member in good standing of the
Association of Professional Geologists of Ontario and American Institute of
Professional Geologists. The core logging was carried out on-site in a dedicated
core logging facility. Drill log data were recorded onto paper logs that were
later scanned and digitized. Core was laid out 30 to 40 boxes at a time. First, the core was
photographed in 15 m batches prior to logging or sampling. This is followed by a
geotechnical log that records quantitative and qualitative engineering data
including detailed recovery data and rock quality designation. Any discrepancies
between marker blocks and measured core length were addressed and resolved at
this stage. The core was then marked up for sampling. For the 2010 and 2011 drill programs, all the drill core
intervals were sampled using sample intervals of 1 m. During the 2012 drilling
program, Gold Canyon changed its standard sample length from 1 to 2 m lengths.
However, in zones of poor recovery, 1.5 m or 3 m samples were sometimes
collected. Samples over the standard sample length were typically half core
samples and whole core was generally only taken in intervals of poor core
recovery across the sampled interval. Sampling marks were made on the core and
sample tickets were stapled into the core boxes at the beginning of each sample
interval. Quality control samples were inserted into the sample stream. Inserting quality control samples involved the addition of
certified blanks, certified gold standards, and field and laboratory duplicates.
Field duplicates were collected by quartering the core in the sampling facility
on-site. Laboratory duplicates were collected by splitting the first coarse
reject and crushing and then generating a second analytical pulp. Blank,
standards and duplicates made up 10% of the total sample stream. Sample tickets
were marked blank, field or laboratory duplicate, or standard, and a sample tag
was stapled into the core box within the sample stream. Geological descriptions were recorded for all core recovered.
Separate columns in the log allow description of the lithology, alteration
style, intensity of alteration, relative degree of alteration, sulphide
percentage, rock colour, vein type, and veining density. A separate column was
reserved for written notes on lithology, mineralization, structure, vein
orientations/relations etc. The header page listed the hole number, collar
coordinates, final depth, start/end dates, and the name of the core logging
geologist. Following the logging and core marking procedures described
above, the core was passed to the sampling facility. Core sampling was performed
by experienced sampling technicians from Ackewance Exploration & Services
(Ackewance) of Red Lake, Ontario, and quality control was maintained
through regular verification by on-site geologists. Core was broken, as
necessary, into manageable lengths. Pieces were removed from the box without
disturbing the sample tags, were cut in half lengthwise with a diamond saw, and
then both halves were carefully repositioned in the box. When a complete hole
was processed in this manner, one half was collected for assay while the other
half remained in the core box as a witness. The remaining core in the boxes was
then photographed at 51 cm (20 inch) intervals. All logs and photographs were
then submitted to the senior geologist/project manager for review and were
archived. Data were backed up. The sampling technician packed one half of the split core
sample intervals into transparent vinyl sample bags that were sequentially
numbered to match the sample number sequences in the sample tag booklets used by
the core-logging geologists. The numbered, blank portion of the triplicate
sample tag was placed in the bag with the sample; the portion was marked with
the sample interval remained stapled into the bottom of the core box at the
point where the sample interval begins. Sample bags were then sealed with
plastic tags. Sealed sample bags were packed into rice sacks five samples at a
time. All sacks were individually labeled with the name of the company, number
of samples contained therein, and the number sequence of the samples therein.
Sacks were assigned sequential numbers on a per shipment basis. A project
geologist then checked the sample shipment and creates a shipping manifest for
the sample batch. A copy was given to the project manager and a copy was sent
along with the sample shipment. A copy of the sample shipment form was also sent
via e-mail to the analytical laboratory. 2016 Annual Information Form  Page 27   The project geologist prepared the sample submission form for
the assay laboratory. This form identifies the number of sample sacks as well as
the sequence of sample numbers to be submitted. Due to the remote location, the
shipment was then loaded on to a plane or helicopter and flown direct to Red
Lake where representatives of the commercial analytical laboratory met the
incoming flight and took the samples to the laboratory by pickup truck. Once at the laboratory, a manager checked the rice sacks and
sample numbers on the submission form. The laboratory then split the received
sample manifest into batches for analysis, assigned a work order to the batch,
and sent a copy of the mineral analysis acknowledgement form to the project
manager. Aluminum tags embossed with the hole number, box number, and
box interval (from/to) were prepared and stapled onto the ends of each core box.
Core boxes were cross-stacked on pallets and then moved to on-site storage. Core samples collected at the drill site were held in closed
core boxes sealed with fiber tape; at various times of day, camp staff collected
the core boxes that were then delivered to the core logging facility. All core
logging, sampling and storage took place at the Springpole Project site.
Following the logging and marking of core, all core preparation and sampling was
performed by technicians from Ackewance of Red Lake, Ontario, under the
supervision of the project manager. All on-site sampling activities were
directly supervised by the project manager. All primary assay work since the 2010 drill program has been
performed by SGS Laboratories in Red Lake (gold), Ontario and Don Mills (silver
and multi-element) in Toronto, Ontario. The SGS Red Lake and Don Mills
facilities are certified and conform to requirements CAN-P-1579 and CAN-P-4E
(ISO/IEC 17025:2005). Certification is accredited for precious metals including
gold and silver and 52 element geochemical analyses. All samples received by SGS Red Lake were processed through a
sample tracking system that is an integral part of our laboratory information
management system. This system utilizes bar coding and scanning technology that
provides complete chain of custody records for every stage in the sample
preparation and analytical process. Samples were dried, and then crushed to 70% of the sample
passing 2 mm (-70 mesh). A 250 g sample was split off the crushed material, and
pulverized to 85% passing 75 micron (-200 mesh). A 30 g split of the pulp was
used for gold fire assay and a 2 g split was used for silver analysis. Crushing
and pulverizing equipment was cleaned with barren wash material between sample
preparation batches and, where necessary, between highly mineralized samples.
Sample preparation stations were also equipped with dust extraction systems to
reduce the risk of sample contamination. Once the gold assay was complete, a
pulp was sent to the SGS Toronto facility for silver and possibly for
multi-element geochemical analysis. As part of the standard internal quality control procedures
used by the laboratory, each batch of 75 Springpole Project core samples
included four blanks, four internal standards, and eight duplicate samples. In
the event that any reference material or duplicate result would fall outside the
established control limits, the sample batches would be re-assayed. Pulps and rejects of the samples were stored by SGS at its Red
Lake facility at the request of Gold Canyon. Prepared samples were analyzed for gold by fire assay with
atomic absorption finish. Samples returning assays in excess of 10g/t gold are
re-analyzed with a gravimetric finish. Prepared pulp samples shipped from SGS Red Lake to SGS Toronto
were analyzed for silver by three-acid digestion with atomic absorption finish. During the winter 2010 program, prepared samples were analyzed
for 52 elements by acid digestion (3:1 HCl: HNO3). 2016 Annual Information Form  Page 28   Of the 18 drill holes completed in 2007 and 2008, comprising a
total of 1,374 assay intervals analyzed for gold, SRK Consulting (Canada) Inc.
(SRK), who prepared the Springpole Technical Report, checked a total of
137 samples representing 10% of the total against the original certificates. No
errors were found. A total of 3,135 assay values for gold and 3,161 assay values
for silver in the database were compared against the original protected PDF
assay certificates submitted by SGS Red Lake. These totals represent 10.1% and
10.4% of the total number of assays for gold and silver, respectively. Of the original assay values checked against certificates, the
focus was on values material to any resource estimate, either higher-grade
intervals or very low grade intervals in proximity to higher-grade intervals.
The average grade of gold samples verified was 2.05 g/t Au. The average grade of
silver samples checked was 8.27 g/t Ag. Only two errors were found for gold: 
    The gold value of sample interval SP10-028 from
      433 m to 436 m (sample number 8287) found to have an entered value of 5.96
      g/t gold against a value on the assay certificate of 9.00 g/t gold.
    The gold value of sample interval SP11-076 from
      69 to 70 m (sample number 14583) having the value of 0.45 oz./t
      incorrectly placed in the parts per billion column. No errors were found with respect to silver assays. This represents an error rate of 0.064% in gold assays and an
error rate of 0.0% in silver assays. This error rate is well within acceptable
industry standards. As part of the mineral resource estimation process, the author
of the Springpole Technical Report reviewed the QA/QC data collected by Gold
Canyon, reviewed the procedures in place to assure assay data quality, and
verified the assay database against original assay certificates provided
directly to the author by SGS Red Lake, the assay laboratory. A total of 53,431
gold assays, 46% of the assay data, were checked against original assay
certificates. No significant database errors were identified. About 143 minor
rounding errors were observed. None of the rounding errors are deemed material
or of any significance to the mineral resource estimate presented in this
report. Mineral processing and metallurgical
testing Three metallurgical testwork programs have been completed on
Springpole Property material since 1989, with the majority of work undertaken in
the past three years: 
    Lakefield Research, Lakefield, Ontario (1989)a
      preliminary program of whole feed leaching on two samples.
    SGS Mineral Services, Vancouver, British Columbia
      (2011)a follow up program of leaching on eight samples.
    SGS Lakefield, Lakefield, Ontario
      (2012/2013)comminution, whole feed leaching, flotation/leaching on six
      samples. Based on the test work results reported to date and the range
of process flowsheet options considered in the 2012/2013 work, a likely
flowsheet configuration is a moderately fine grind size followed by whole feed
leaching. Removal of gravity gold prior to leaching appears to only benefit high
grade (>5 g/t gold) feed and should be considered an option for the
flowsheet. The Springpole Technical Report is based on a design plant
capacity of 20,000 t/d. Cyanide leach extractions of 80% for gold and 85% for
silver are expected at this grind size. Product from the process plant will be
doré bullion. 2016 Annual Information Form  Page 29   While considerable metallurgical test work has been completed,
additional testing is warranted to better define the plant design criteria and
more confidently predict expected performance. Future test work can consider concentrating the sulphides via
flotation or classification into a smaller mass so that it can be stored
separately from the remainder of the tailings. For example, dry stack or
subaqueous deposition in the tailings pond to minimise the potential for acid
generation. Mineral resource estimates The mineral resource model for the Springpole Project considers
512 core boreholes drilled by Gold Canyon and previous owners of the property
during the period of 2003 to 2012. The revised mineral resource estimate (October 17, 2012) was
based on a gold price of $1,400/oz. and a silver price of $15/oz., both
considered reasonable economic assumptions by the author of the Springpole
Technical Report. To establish a reasonable prospect of economic extraction in
an open pit context, the resources were defined within an optimized pit shell
with pit walls set at 45°. Assumed recoveries of 80% for gold and 60% for silver
were used (Note: A silver recovery assumption of 85% was used for mine design
and evaluation based on more recent data). Mining costs were estimated at $2/t
of total material, processing costs estimated at $12/t and general and
administrative (G&A) costs estimated at $2/t. A cut-off grade
(COG) of 0.4 g/t gold was calculated, and is considered to be an
economically reasonable value corresponding with breakeven mining costs.
Approximately 90% of the revenue for the proposed project is derived from gold
and 10% from silver. Note: For the mine development (Whittle optimization) and
economic analysis in the Springpole Technical Report, updated input parameters
were used. Mineral resources were estimated by ordinary kriging using
Gemcom block modelling software in 10 m x 10 m x 6 m blocks. Grade estimates
were based on capped, 3 m composited assay data. Capping levels were set at 25 g/t for gold and 200 g/t for
silver. Blocks were classified as indicated mineral resources if at least two
drill holes and six composites were found within a 60 m x 60 m x 40 m search
ellipse. All other interpolated blocks were classified as inferred mineral
resource. Mineral resources were then validated using Gemcom GEMS (6.4)
software. This resource model includes mineralized material in the Main,
East Extension and Portage zones spanning from geologic sections 0-1, 500 m in
the northwest to 0-250 m in the southeast. Along the axis of the Portage zone,
resource modelling includes mineralized material generally ranging from the
surface to a depth of 340-440 m below surface. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. There is no certainty that all or any part of
the mineral resources would be converted into mineral reserves. The estimate of
mineral resources may be materially affected by environmental, permitting,
legal, title, taxation, sociopolitical, marketing, or other relevant issues. The
quantity and grade of reported inferred resources in this estimation are
uncertain in nature. There has been insufficient exploration to define these
inferred resources as an indicated or measured mineral resource. It is uncertain
if further exploration will result in upgrading them to an indicated or measured
mineral resource category. 2016 Annual Information Form  Page 30   The updated resource estimate is summarized in the table below. Category
    Quantity
    Grade
    MetalAu
    Ag
    Au
    Ag(Mt)
    (g/t)
    (g/t)
    (Moz.)
    (Moz.)Open Pit**Indicated
    128.2
    1.07
    5.7
    4.41
    23.8Inferred
    25.7
    0.83
    3.2
    0.69
    2.7
 Source: Springpole Project, Northwestern Ontario, SRK
Consulting, October 17, 2012* Mineral resources are reported in
relation to a conceptual pit shell. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. All figures are rounded to
reflect the relative accuracy of the estimate. All composites have been capped
where appropriate.** Open pit mineral resources are reported at a
cut-off grade of 0.4 g/t gold. Cut-off grades are based on a gold price of
$1,400/oz. and a gold processing recovery of 80% and a silver price of $15/oz.
and a silver processing recovery of 60%. Inferred resources were used in the life of mine plan with
inferred resources representing 10% of the material planned for processing.
Mineral resources that are not mineral reserves do not have demonstrated
economic viability. The estimate of mineral resources may be materially affected
by environmental, permitting, legal, title, taxation, sociopolitical, marketing,
or other relevant issues. The quantity and grade of reported inferred resources
in this estimation are uncertain in nature and there has been insufficient
exploration to define these inferred resources as an indicated or measured
mineral resource, and it is uncertain if further exploration will result in
upgrading them to an indicated or measured mineral resource category. Recent activities In October 2016 we commenced a drilling program at the
Springpole Project to acquire material for metallurgical testing. In February
2017, we announced the results of the drilling program. A total of four holes
comprising approximately 1,200 m were drilled, with hole locations specifically
chosen to recover sample material that is representative of the Springpole
deposit. The drill program was specifically designed to provide material
for metallurgical testing. Material from the drill holes has been subjected to
both assay testing and metallurgical testing  we received and announced the
assay results, and are currently waiting on the metallurgical test work to be
completed. The intent of the metallurgical testing program is to determine the
optimal grind size and processing flow sheet so as to maximize metallurgical
recoveries at the Springpole Project. Once we receive the results of the
metallurgical test work, we expect to incorporate the results in a new PEA for
Springpole which is expected to be released around mid-2017. Highlights of Assay Results from Fall 2016 Drilling at
Springpole: 
    Hole PM-DH-01 intersected 1.22 g/t over 354.5 m
      including 1.65 g/t over 177.0 m.
    Hole PM-DH-02 intersected 1.51 g/t over 341.0 m
      including 2.81 g/t over 87.0 m.
    Hole PM-DH-03 intersected 1.25 g/t over 359.0 m
      including 2.75 g/t over 44.0 m.
    Hole PM-DH-04 intersected 2.15 g/t over 146.7 m
      including 2.54 g/t over 108.7 m. 2016 Annual Information Form  Page 31   Drill Hole Intercepts Hole ID
    
    From (m)
    To (m)
    Interval (m)
    Au g/tPM-DH-01
    
    16.5
    371.0
    354.5
    1.22PM-DH-01
    including
    18.0
    60.0
    42.0
    1.61PM-DH-01
    and including
    96.0
    273.0
    177.0
    1.65PM-DH-02
    
    74.0
    415.0
    341.0
    1.51PM-DH-02
    including
    143.0
    182.0
    39.0
    2.93PM-DH-02
    and including
    170.0
    182.0
    12.0
    7.43PM-DH-02
    and including
    189.0
    276.0
    87.0
    2.81PM-DH-02
    and including
    283.0
    302.0
    19.0
    2.22PM-DH-03
    
    50.0
    409.0
    359.0
    1.25PM-DH-03
    including
    312.0
    356.0
    44.0
    2.75PM-DH-04
    
    186.3
    333
    146.7
    2.15PM-DH-04
    including
    186.3
    295.0
    108.7
    2.54PM-DH-04
    and including
    196.9
    208.0
    11.2
    6.41
 All assays were performed by SGS Laboratories of Red Lake,
Ontario, who are independent of First Mining and have no relationship with First
Mining. Samples were analyzed by using 30 g fire assay with an atomic absorption
finish (protocol GE FAA313). Samples greater than 10 g/t or with visible gold
were analyzed by 30 g fire assay with a gravimetric finish (protocol GO FAG303).
All assays reported are uncut. Reported widths are drilled core lengths, and do
not indicate true widths. QA/QC Procedures Assaying for the Springpole 2016 drilling program was done by
SGS at their laboratories in Red Lake, Ontario, and Burnaby, British Columbia.
Prepared samples were analyzed for gold by lead fusion fire assay with an atomic
absorption spectrometry (AAS) finish. Samples returning assays in excess of 10
g/t gold were re-analyzed by fire assay with a gravimetric finish. As per past
practices, fire assay analysis was done on 30 g splits of the pulp for gold, and
a further 50 g split was sent to the SGS Burnaby lab for multi-element analysis
by two-acid aqua regia digestion with ICP-MS and AES finish. The QA/QC program for the drilling program consisted of the
submission of coarse duplicates from bulk rejects at a frequency of one for
every 20 samples submitted (5% of total). Pulp duplicate submissions were done
at the same frequency. Because the drilling was intended for metallurgical test
work, no rig duplicates from quartered core were submitted to preserve the core
against loss or damage. Commercially obtained certified blank reference
materials and standards were inserted on a frequency of one each per 40 samples
submitted: 2.5% standards; 2.5% blanks for a total of 5%. Standards consisted of
5 different gold grades ranging from 0.5 to 9.5 g/t, and were sourced from CDN
Resource Laboratories in Langley, British Columbia, along with the blank CRM
materials. SGS also undertook their own internal coarse and pulp
duplicates analysis to ensure proper sample preparation and equipment
calibration. These were randomly inserted at a frequency of 12%, as per
laboratory protocol. 2016 Annual Information Form  Page 32   Goldlund Technical report The Goldlund Property project (the Goldlund Project)
description is based on the projects technical report: Technical Report and Resource Estimation Update on the
Goldlund Project, Patricia and Kenora Mining Division, Ontario(issue date
February 7, 2017, effective date September 20, 2016) (the Goldlund Technical
Report). The report was prepared for us in accordance with NI 43-101, by or
under the supervision of Todd McCracken, P.Geo.; a qualified person within the
meaning of NI 43-101. The following description has been prepared under the
supervision of Chris Osterman, P.Geo. who is a qualified person within the
meaning of NI 43-101, but is not independent of us. The conclusions, projections and estimates included in this
description are subject to the qualifications, assumptions and exclusions set
out in the Goldlund Technical Report, except as such qualifications, assumptions
and exclusions may be modified in this AIF. We recommend you read the Goldlund
Technical Report in its entirety to fully understand the project. You can
download a copy from our SEDAR profile (www.sedar.com), or from our website
(www.firstminingfinance.com). Project description, location and access The Goldlund Project is located in northwestern Ontario,
approximately 30 km northeast from Dryden and stretches over several townships
of the Patricia Mining and Kenora Mining Divisions of northwestern Ontario. The
Goldlund Project is centered at 49.900203 north latitude and 92.341103 west
longitude (545800E, 5527400N NAD 83 Zone 15) NTS 52F/16. Access to the Goldlund Project is by Ontario Provincial Highway
72, approximately 60 km from Dryden, or approximately 45 km southwest of Sioux
Lookout. A private all-weather gravel road leads from this point to the Goldlund
Property. The road into the Goldlund Property would require upgrading to sustain
any form of mining operations, but is accessible by two-wheel drive vehicle for
exploration. Regularly scheduled passenger air service and charter flights are
available to the towns of Dryden and Sioux Lookout. We have full surface rights on the 27 patents and 1 mining
lease (the Mining Lease). Surface rights to the remaining claim on the
Goldlund Project currently remain with the Crown. The Ontario Mining Act(2010) grants surface access to a mineral claim without owning the surface
rights, with proper consultation with stakeholders in the area. All claims and
patents are registered to our wholly-owned subsidiary Goldlund. Underlying royalties which affect the Goldlund Property
are: 
    1% NSR payable to an arms length vendor for 36 claims
      totalling 576 ha;
    1% NSR payable to Goldlund Mines Limited on any ore mined
      above 50 m below the existing shaft collar for 6 patented claims and 3
      patented claim covered by the Mining Lease. We have a right of first
      refusal in the event the holder wishes to dispose of its interest in the
      NSR;
    2.5% NSR payable to Rio Algom Limited for 21 patented
      claims. We have the right to purchase the NSR in its entirety for
      $2,500,000 and a right of first of refusal in the event that Rio wishes to
      sell the NSR.
    2% NSR payable to 1074127 Ontario Limited in accordance
      with industry practice on the sale of all minerals from the property for
      13 mining claims. We have right to purchase 100% of the NSR at any time
      for $1,500,000 and a right of first refusal in the event that the holder
      wishes to sell the NSR. The Goldlund Project has two historic shafts that have been
capped, an underground portal that has been blocked, a small open pit that is
partially flooded, a waste rock stockpile, a mineralized material stockpile, a
building housing the original mill on the Goldlund Property, and small tailing
containment facility. All have been overgrown with vegetation. 2016 Annual Information Form  Page 33   All permits and licenses to conduct exploration work in the
Goldlund Project are in place. History Exploration of the Goldlund Property dates back to the 1940s.
From the late 1940s up until 1988, intermittent exploration was carried out by
various companies mainly on five gold bearing zones. Past work included shaft
sinking, driving a ramp, and underground development, including drifting and
crosscuts on four levels. There was a major period of exploration in the area from 1946
to 1952, in response to the discovery of gold mineralization in the southeastern
part of Echo Township. The historic Newlund and Windward gold deposits were
discovered during this period. The Newlund prospect saw extensive underground exploration
(4,570 m of drifts and crosscuts, 6,220 m of diamond drilling) through five
levels, via a 255 m deep shaft. The first level (200 ft.) of the
Newlund/Goldlund workings extends for over 3.2 km, connecting on the west with
the 68 m shaft of the Windward prospect, crossing the entire Windward claim
block. Virtually no work was carried out on the Echo Township gold
prospects from 1952 to 1973. In 1974, most of the surface facilities were
rehabilitated and re-sampled portions of the first and second levels. In total,
some 151,000 ft. (approximately 46,000 m) of surface drilling has been completed
in 506 holes, and more than 60,000 ft. (approximately 18,300 m) of underground
drilling has been completed in 466 holes. From mid-1982 to early 1985, an underground mine and an open
pit mine was operated on the Goldlund Property and processed material through
the mill at the site. Production records have been compiled that show
underground mine production of approximately 100,000 tons (approximately 90,700
t) at an estimated grade of 0.15 oz./ st (approximately 4.23 g/t) gold together
with open pit production of approximately 43,000 st (approximately 39,000 t), at
an estimated grade of 0.17 oz./ st (approximately 4.80 g/t) gold. Plant records
show that some 132,000 st (approximately 119,750 t) were processed, with 18,000
oz. of recovered gold. Geological setting, mineralization and
deposit types The Goldlund Project is situated within a
northeasterly-projecting arm of the Wabigoon Sub-province extending from
Wabigoon Lake to Sioux Lookout. The area is underlain by sedimentary and
volcanic rocks, numerous intermediate to mafic sub-volcanic intrusive sheets,
and intruded by several granitoid stocks. The stratigraphic assemblage has been
subdivided into five principal rock groups: 
    Northern Volcanic Belt;
    Northern Sedimentary Group;
    Central Volcanic Belt;
    Southern Sedimentary Group; and
    Southern Volcanic Belt. The area has been affected by multiple deformational events
resulting in a predominately northeasterly structural fabric. Gold exploration
dates back to at least the 1940s with the majority of occurrences located in the
Central and Southern Volcanic Belts. The area is comprised of meta-volcanic and meta-sedimentary
rocks intruded by several granitoid stocks and many smaller porphyritic and
non-porphyritic bodies. The area has been subjected to at least four phases of
deformation resulting in a predominantly northeasterly-striking structural
grain. Regional and more important local alteration occurred in two pulses; one preceding the
earliest deformation and one coinciding with the late deformation. Quartz
veining, gold mineralization, and related alteration are related to the later
alteration event. 2016 Annual Information Form  Page 34   A 3 km wide belt of Precambrian basaltic volcanic rocks strikes
  northeast across the Goldlund Project. This basaltic formation is bound by
  Precambrian sediments to the north and to the south, with a wedge of felsic
  volcanics that occurs between the basalt and sediments to the south of the
basalt. A suite of Leucotonolite to diorite sills (granodiorite in
mine terminology) have intruded near the contact between the tuffs to the south
and the spherulitic lavas to the north. These strata-parallel sills dip from
vertical to -80° southward and range from 14 meter to 60 meter in thickness. A
subsidiary suite of sills intrude narrow tuff beds in spherulitic basalt lavas.
These strata-parallel intrusions are known to extend northeastward well beyond
the Goldlund Project and south-westward beyond Cross Echo Lake where they
re-appear just south of Troutfly Lake. It has been postulated that this series
of intrusions may occur intermittently over a strike-length of 15 km. The gold mineralization occurs concentrated in quartz filled
cross fractures that strike 010° to 015° and dip northwest at -40° to -75°.
Historically it is reported that these gold bearing fractures occur concentrated
in zones that extend intermittently at intervals of 200 m to 300 m along the 1.6
km length of the underground workings that has been explored to a vertical depth
of 150 m to 200 m on the former Windfall and Goldlund Property. Gold mineralization occurs in essentially two types of deposits
in the area of the Goldlund Project with the most important gold mineralization
being associated with quartz vein and stock-work structures. Gold mineralization at the Goldlund Project is hosted by zones
of northeast-trending and gently to moderately northwest-dipping quartz
stockworks (comprised of numerous quartz veinlets less than 1 cm to 20 cm
thick). The stockwork zones form bands within the dikes that intrude the
east-northeast-trending mafic volcanic country rocks. The quartz veins and
veinlets contain occasional fine-grained to coarse-grained pyrite. The
intervening areas between the quartz veinlets exhibit strong to moderate
feldspathic alteration associated with common fine to medium-grained pyrite and
magnetite. The mineralized sills strike generally northeast (065°) and dip
steeply to the southeast. The quartz stockwork veins generally strike 010° to
015° and dip northwest at -40° to -75°. This results in a shallow rake within
the various zones. The identified mineralization fits an Archean shear zone-hosted
quartz vein model (Archean Lode gold). The dominant, and economically most significant type, of the
shear zone hosted occurrences are transverse vein arrays within competent rocks
and particularly the intermediate to mafic sub-volcanic intrusive sheets. Vein
systems occupy tensional fractures related to internal deformation of the
competent units as folds tightened during stage three deformation. Vein arrays
could be expected to develop near fold hinges, within fold limbs, and along
axial planar foliations. The orientations of individual veins within the arrays
are affected by their locations within folds. Exploration We have not conducted any surface exploration on the Goldlund
Project. Drilling We have not conducted any diamond drilling on the Goldlund
Project. All reported diamond drilling completed by Tamaka was done prior to our
amalgamation with Tamaka by us. Tamaka conducted three drilling programmes: 2007
 2008, 2011 and 2013  2014. The drilling conducted by Tamaka was designed to extend and
expand the potential resource of the Goldlund Project by targeting strike and
down dip potential of the various mineralized zones as well as increase the confidence level in the continuity of resource of the Goldlund
Project by targeting the known mineralized zones on the Goldlund Project with
infill drilling. 2016 Annual Information Form  Page 35   The drilling was completed by C3 Drilling of Ithaca, New York
  and North Star Drilling Ltd. of Thunder Bay. The drilling program was managed
  independently by geologists employed by Fladgate Exploration Consulting
  Corporation (Fladgate) based in Thunder Bay and monitored by the Tamaka
  employees. A total of 24 drillholes were completed during the 2013 and 2014
  drill program. All holes were drilled NQ (47.6 mm) and all drilling runs were in
10 ft. intervals (3 m). Sampling, analysis and data verification The following is a description of the sampling methodology for
the Tamaka 2007  2008 drilling program: 
    Drillers deliver the four-row NQ or NQ2 core
      boxes to the core logging facility.
    Core lids are removed and the boxes placed on
      the core logging table in order.
    A technician measures run lengths to confirm
      block markers.
    The technician records the rock quality
      designation (RQD) of the core on a computer form.
    Magnetic susceptibility is recorded over the
      entire hole length at 0.5 m intervals.
    Core is photographed (both wet and dry).
    Logging is completed by the geologist directly
      into a Microsoft Excel spreadsheet template form. Each drill log is a
      separate file:  ο
    logs record lithology, structures, alteration
      and sulphide content;ο
    all geology related marking on the core use a
      yellow lumber crayon.  
    Sample intervals marked with a red lumber
      crayon on the core.
    Sample lengths are variable, 20 cm minimum
      sample length, 1.5 m maximum sample length.
    The samples do not cross lithological
      boundaries:  ο
    quartz veins are isolated if possible as well
      as zones in increased sulphides or alteration;ο
    shoulder sample of 1 m are collected on both
      sides of the mineralized sections;ο
    due to the nature of the mineralization, and
      from the onset of drilling, the decision was made by Tamaka staff to
      collect samples continuously from collar to toe of hole.  
    Three dedicated technicians were trained on
      sampling:  ο
    top-mounted core saw with a four-compartment
      settling tanks to recycle the water;ο
    a sample interval sheet was generated by the
      geologist logging the core; the sheet contained the Borehole ID, From, To
      intervals, and sample number;ο
    the technician verifies the sample number from
      the sample sheet with the sample number from pre-printed sample books
      provided by the laboratory;ο
    the technician cuts the core and places one
      half in a plastic sample bag and returns the other half to the core box;ο
    one sample tag is placed in the sample bag, one
      sample tag is stapled into the core box at the beginning of the sample
      interval;ο
    sample bags with sample and sample tag are
      sealed with fibre tape. 2016 Annual Information Form  Page 36    
    Quality assurance and quality control samples
      are inserted into the sample stream. Standards, blanks, field, and crush
      duplicates were inserted into the sample series using the same number
      sequence as the samples themselves. A QA/QC sample was inserted every 30
      samples and were alternate between crush duplicates, field duplicates,
      standards, and blanks. Pulp duplicates performed by Accurassay were also
      incorporated in the program.
    Samples are placed in rice bags and stored in
      the core logging facility until shipment.
    A Tamaka employee delivers the samples to
      Manitoulin Transport in Dryden for delivery to Accurassay Laboratories
      (Accurassay) in Thunder Bay. Accurassay is an accredited
      facility, conforming to requirements of CAN P-4E ISO/IEC 17025, and
      CAN-P-1579.
    The laboratory returned all course rejects and
      pulps to Tamaka for storage at the Goldlund Project. The following is a description of the sampling methodology for
the Tamaka 2011 drilling program: 
    Drill core was delivered by C3 Drilling to the Tamaka
      core logging facility located on site at the end of every shift.
    Core was put on the core logging tables for logging by
      the geologist or geological technician.
    A geologist technician checked the block measurements and
      measures recorded the RQD. Errors in block measurements were reported to
      the geologists.
    A technician recorded the magnetic susceptibility using a
      hand-held instrument for each 3 m length of core.
    Certain initial holes were logged into Microsoft Excel
      spreadsheets and the remainder were logged into a Gemcom© Gemslogger
      (Gemslogger) Microsoft Access database.
    A geologist entered the header information from a planned
      drillhole spreadsheet.
    A geologist logged the core, recording lithology,
      alteration, structure, and mineralization in Gemslogger or the spreadsheet
      and marking the intervals with a grease pen.
    A geologist inserted sample tags for intervals to be
      sampled, recording these intervals in Gemslogger or the spreadsheet.
    Sample lengths range between 0.2 and 2.6 m in length with
      an average sampling length of around 0.7 m.
    No samples crossed lithological boundaries.
    At least two shoulder samples are taken on either side of
      the mineralization.
    Sample tags marked with Standard Reference Material
      (SRM), blanks and duplicates were inserted at set intervals by
      the geologist.
    Core was photographed after logging and sampling was
      completed; both wet and dry photos were taken.
    Core was then relocated to the core splitting facility.
    A technician then double checked the intervals given in
      the sample booklet with printed logs from Gemslogger.
    Core was split using a top-mounted diamond saw blade.
    Half of the core was placed in a sample bag while the
      other half was replaced in the core box.
    Blanks and SRMs were inserted as specified in the sample
      booklet. Standards, blanks, field, and crush duplicates were inserted into
      the sample series using the same number sequence as the samples
      themselves. A QA/QC sample was inserted every 30 samples and were
      alternate between crush duplicates, field duplicates, standards, and
      blanks. Pulp duplicates performed by Accurassay were also incorporated in
      the program. 2016 Annual Information Form  Page 37    
    For field duplicates, the remaining half of the
      core was quarter split and placed in a sample bag.
    For coarse duplicates, a sample tag was placed
      in an empty sample bag.
    The sample tag was stapled to the inside of the
      sample bag and the sample bag is stapled closed.
    Sample tags were placed in rice bags and stored
      in crates awaiting shipment.
    Crates were shipped every week to Accurassay
      Laboratories in Thunder Bay by Manitoulin Transport.
    Downhole surveys were conducted using a Maxibor
      instrument while the drill rig was still setup on the drill pad.
    Once the drill rig was moved, collar locations
      were verified using a hand-held GPS.
    Once all the data is finalized in the field,
      the field databases/spreadsheets were transferred to the office in Thunder
      Bay where the master database is stored. The following is a description of the sampling methodology for
the Tamaka 2013-2014 drilling program: 
    Drillers deliver the four-row NQ or NQ2 core
      boxes to the core logging facility.
    Core lids are removed and the boxes placed on
      the core logging table in order.
    A technician measures run lengths to confirm
      block markers.
    The technician records the rock quality
      designation (RQD) of the core on a computer form.
    Magnetic susceptibility is recorded over the
      entire hole length at 0.5 m intervals.
    Core is photographed (both wet and dry).
    Logging is completed by the geologist directly
      into a Microsoft Excel spreadsheet template form.
    Each drill log is a separate file:  ο
    logs record lithology, structures, alteration
      and sulphide content;ο
    all geology related markings on the core use a
      yellow lumber crayon.  
    Sample intervals marked with a red lumber
      crayon on the core.
    Sample lengths are variable; 20 cm minimum
      sample length, 1.5 m maximum sample length.
    The samples do not cross lithological
      boundaries:  ο
    quartz veins are isolated if possible as well
      as zones in increased sulphides or alteration;ο
    shoulder sample of 1 m are collected on both
      sides of the mineralized sections;ο
    due to the nature of the mineralization, and
      from the onset of drilling, the decision was made by Tamaka staff to
      collect samples continuously from collar to toe of hole.  
    Three dedicated technicians were trained on
      sampling:  ο
    top-mounted core saw with a four-compartment
      settling tanks to recycle the water;ο
    a sample interval sheet was generated by the
      geologist logging the core; the sheet contained the Borehole ID, From, To
      intervals, and sample number;ο
    the technician verifies the sample number from
      the sample sheet with the sample number from pre-printed sample books
      provided by the laboratory; 2016 Annual Information Form  Page 38    ο
    the technician cuts the core and places one half in a
      plastic sample bag and returns the other half to the core box;ο
    one sample tag is placed in the sample bag, one sample
      tag is stapled into the core box at the beginning of the sample interval;ο
    sample bags with sample and sample tag are sealed with
      fibre tape;ο
    quality assurance and quality control samples are
      inserted into the sample stream. Standards, blanks, field, and crush
      duplicates were inserted into the sample series using the same number
      sequence as the samples themselves. A QA/QC sample was inserted every 30
      samples and were alternate between crush duplicates, field duplicates,
      standards, and blanks. Pulp duplicates performed by Accurassay were also
      incorporated in the program. A second aliquot of pulp (from the pulps
      remaining after Accurassay analysis) from samples (predetermined by
      Fladgate) by Accurassay to be shipped to a separate lab for analysis.  
    Samples are placed in rice bags and stored in
      the core logging facility until shipment.
    A Tamaka employee delivers the samples to
      Manitoulin Transport in Dryden for delivery to Accurassay in Thunder Bay.
    The laboratory returned all course rejects and
      pulps to Tamaka for storage at the Goldlund Project. All samples for each of the Tamaka drill programs are processed
using both jaw crushers and ring mill pulverizers. Samples received by the lab
were processed using the following sample preparation packages: 
    Dry, crush (less than 5 kg) 90% -8 mesh (2 mm);
    Split (1,000 g); and
    Pulverize to 90% -150 mesh (106 μ). The 2007  2008 samples were analyzed for gold and silver using
a four acid digestion followed by a 50 g fire assay (FA) with inductively
coupled plasma (ICP) finish. Certain of the 2011 samples were analyzed using a conventional
30 g Fire Assay with an Atomic Absorption finish (FA/AA) for gold and a
0.25 aqua regia digestion with an AA finish for silver. For the remaining 2011
samples, a 50 g conventional fire assay with an AA finish and a 0.25 aqua regia
digestion with an AA finish for silver was performed from the 500 g pulp. A
second 500 g pulp was analyzed using a gravimetric finish for samples in excess
of 10 ppm gold. In total, during the 2011 drill program, 10,914 core samples
were sent to the laboratory for analysis. All 2012 and 2013-2014 samples were analyzed by a 50 g
conventional fire assay with an AA finish and a 0.25 aqua regia digestion with
an AA finish for silver was performed from the 500 g pulp. A second 500 g pulp
was analyzed using a gravimetric finish for samples in excess of 10 ppm gold. Tamakas QA/QC for each of its drilling programs was generally
consistent. The QA/QC programs consisted of the insertion of blanks, Standard
Reference Manual (SRM) samples, field duplicates, and crush duplicates
into the sample stream at set intervals. SRMs were inserted every
20th sample while blanks were inserted every 27th to
30th sample. Field and crush duplicates were inserted into the sample
stream only for the latter portion of the 2011 drilling campaign with a
frequency of one field duplicate every 30th sample and one crush
duplicate every 32ndsample. In addition to the field-inserted QA/QC
program, the laboratories operate their own laboratory QA/QC system. The labs
insert quality control materials, blanks and duplicates on each analytical run. The Tamaka database has gone through several validations. The
original data files received prior to the 2010 resource estimate were validated
using 103 (10%) of the 1,065 drillholes in the total database. The validation
was completed by the author of the Goldlund Technical Report, while he was
employed by Tetra Tech. Data verification was completed on collar co-ordinates,
end-of-hole depth, down-the-hole survey measurements,From and To intervals, measurements of assay sampling
intervals, and gold grades that were compiled from hand written drill logs into
Microsoft Excel spreadsheets. The error rate of the initial dataset exceeded the
acceptable limit of 1% of errors. Most errors were insignificant and related to
mistakes in transcription. Tamaka retrieved the dataset from Tetra Tech and
corrected the entire dataset before returning the files to Tetra Tech. The
second round of validation of the dataset returned no errors. 2016 Annual Information Form  Page 39   2011 and 2012 round of validation All data is now
  recorded and received digitally, so it is possible to check 100% of the assay
  data for Tamaka surface holes against the digital assay certificates. There is
  100% agreement between the assay certificates and the assay data in the
  database. The same is true of collar coordinates, survey data, and lithology
intervals. 2013 and 2014 round of validation All data is now
recorded and received digitally, so it is possible to check 100% of the assay
data for Tamaka surface holes against the digital assay certificates. There is
100% agreement between the assay certificates and the assay data in the
database. The same is true of collar coordinates, survey data, and lithology
intervals. The drillhole data was imported into Surpac 6.6, which has a
routine that checks for duplicate intervals, overlapping intervals, and
intervals beyond the end of hole. The errors identified in the routine were
checked against the original logs and corrected. Mineral processing and metallurgical
testing Tamaka received completed results of three metallurgical
studies on the Goldlund Property; a gold deportment study, a scoping study
including comminution testing, and a review of the acid-base accounting
completed as part of the scoping study. Reported overall gold extraction for the high-grade samples by
gravity separation, flotation of the gravity tailing, and cyanidation of the
flotation concentrate ranged from 55% to 74%. Reported overall gold extraction
for bulk testing and composites by gravity separation and cyanidation of the
entire gravity tailing ranged from 85% to 96%. The majority of samples were determined to be not Potential
Acid Generating (PAG), however two samples did have neutralization
potential ratios of less than 1 and sulphide-sulphur greater than 12%,
indicating that they are PAG. Due to the limited number of samples, these
results should be considered preliminary, and further sampling and testing is
required to accurately determine whether the tailings would be PAG. Mineral resource estimates We compiled all the data used in completing the mineral
resource from original source drillhole documents and from plan and section
originals and copies. The Goldlund Project has been drilled by 1,816 drillholes.
However, only drillholes within the areas of interest and with exploration
potential were included in the database. In addition to the drillhole database,
a dataset containing underground wall sampling intervals was included. Wall
sampling was conducted as continuous samples on both walls and at times at chest
and back heights. The wall sampling data was converted into drillhole format to
supplement the dataset. All resource estimations were conducted using Surpac
version 6.6. A pit shell analysis using a base case of US$1,350 gold price
and a cut-off grade of 0.4 g/t Au, provided a pit constrained Indicated gold
resource estimate of 9.3 Mt with an average grade of 1.87 g/t and additional pit
constrained Inferred resource of 40.9 Mt with an average grade of 1.33 g/t for
the Goldlund Property. Table A summarizes the Whittle pit constrained resource. 2016 Annual Information Form  Page 40   The Goldlund deposit remains open along strike and to depth. Classification
    Zone
    Tonnage
    Au g/t
    OuncesMeasured
    1
    -
    -
    -2
    -
    -
    -3
    -
    -
    -4
    -
    -
    -5
    -
    -
    -7
    -
    -
    -8
    -
    -
    -Subtotal
    -
    -
    -Indicated
    1
    5,508,000
    1.65
    292,1972
    1,642,900
    1.76
    93,0003
    -
    -
    -4
    1,664,600
    2.73
    146,1005
    -
    -
    -7
    -
    -
    -8
    508,600
    2
    29,200Subtotal
    9,324,100
    1.87
    560,497M&I
    Subtotal
    9,324,100
    1.87
    560,497Inferred1
    17,802,000
    1.36
    778,4222
    1,028,000
    1.22
    40,0003
    1,385,000
    1.61
    71,6664
    734,000
    2.40
    57,0005
    1,284,000
    1.19
    49,0007
    17,947,000
    1.28
    737,0048
    715,000
    0.90
    21,000Subtotal
    40,895,000
    1.33
    1,754,092
 2016 Annual Information Form  Page 41   Cameron Technical report The Cameron Property project (the Cameron Project)
description is based on the projects technical report: Technical Report on the Cameron Gold Deposit, Ontario,
Canada(effective date January 17, 2017) (the Cameron Gold Technical
Report). The report was prepared for us in accordance with NI 43-101, by or
under the supervision of Mark Drabble, B. App. Sci. (Geology), MAIG, MAusIMM;
and Kahan Cervoi, B. App. Sci (Geology), MAIG, MAusIMM; each qualified persons
within the meaning of NI 43-101. The following description has been prepared
under the supervision of Chris Osterman, P.Geo. who is a qualified person within
the meaning of NI 43-101, but is not independent of us. The conclusions, projections and estimates included in this
description are subject to the qualifications, assumptions and exclusions set
out in the Cameron Gold Technical Report, except as such qualifications,
assumptions and exclusions may be modified in this AIF. We recommend you read
the Cameron Gold Technical Report in its entirety to fully understand the
project. You can download a copy from our SEDAR profile (www.sedar.com),
or from our website (www.firstminingfinance.com). Project description, location and access The Cameron Gold Project is wholly-owned by us through our
wholly-owned subsidiary, Cameron Gold. The Cameron Gold Project comprises 226
unpatented claims, 24 patented claims (mineral rights only), seven mining
licences of occupation (MLO) and four mining leases. All of the claims
are located within unsurveyed crown lands, mainly within the Rowan Lake area,
though some claims are situated in the Tadpole Lake, Brooks Lake and Lawrence
Lake areas. The total area of the project is approximately 448.53 km2(44,853.2 ha). The Cameron Gold Project currently consists of two project
areas; namely Cameron (which includes the Cameron deposit) (the Cameron
Deposit) and West Cedartree (which includes the Dubenski and Dogpaw
deposits). The Cameron Gold Technical Report covers only the Cameron Deposit and
Mineral Resource Estimate within the broader Cameron Project. The property
comprising the Cameron Project consists of 128 unpatented claims, four patented
claims, six MLOs and two mining leases. The West Cedartree property comprises
nine unpatented claims, 20 patented claims, one MLO and two mining leases. The Cameron Gold Project is located in the southern part of
western Ontario, Canada approximately 80 km southeast of Kenora and 80 km
northwest of Fort Frances. The nearest towns are Sioux Narrows and Nestor Falls,
30 km and 25 km away respectively. The Cameron Gold Project is on unsurveyed
crown lands accessed by sealed and all weather gravel roads. From Kenora via
Highway 17, Hwy 71 and the Cameron Lake road the distance is around 123 km. From
Fort Frances via Hwy 11, Hwy 71 and the Cameron Lake road the distance is 168
km. Underlying royalties which affect the Cameron Deposit are: 
    1.5% NSR payable to Rubicon Minerals Corp. for 47
      unpatented claims. We have the option to repurchase 0.75% of the NSR for
      $750,000;
    1% NSR payable to Orion Resource Partners for 20
      unpatented claims, 4 patented claims, 6 MLOs and 2 mining leases;
    2% NSR payable to Mr. Sherridon Johnson and Mr. Edward
      Antony Barkaus for one unpatented claim;
    $0.30 per short ton of ore mined payable to the estate of
      W. Moorhouse and D. Petrunka for one mining lease; 2016 Annual Information Form  Page 42    
    3% NSR payable to Lasir Gold Inc. We have the
      right to reduce the NSR to 1.5% by payment of $1,500,000; and
    1% NSR payable to Chalice on 133 unpatented
      mining claims, all of which are not encumbered by pre- existing royalties.
      We have the right to repurchase 0.5% of the NSR for $1,000,000. Additional royalties pertain to the West Cedartree project, and
are not applicable to the Cameron Deposit. In order to maintain the title to an unpatented mining claim
indefinitely, the recorded holder of the claim is required to undertake approved
work expenditure in excess of $400 per claim within two years of the granting of
the claim. Work programmes and expenditure commitments can be grouped across a
contiguous series of unpatented mining claims. To maintain the unpatented claims
comprising the Cameron Project in good standing, we are required to incur an
aggregate expenditure of $750,800 per year and to file annual assessment reports
of the work that has been undertaken. A total of $522,213 is available for
distribution across the Cameron Gold Project. All MLOs are subject to an annual
flat rental fee of $5.00 per hectare. The duration of a mining lease is 21 years from the date of
grant. The mining leases within the Cameron Project were initially granted in
1988 and were subsequently renewed for a further 21 years in July 2009, except
one mining lease which was renewed in May 2006. History Exploration in the area commenced in the 1940s and numerous
companies have carried out prospecting, line cutting, geological mapping,
trenching, soil and outcrop sampling and ground magnetic and electromagnetic
geophysical surveys. On the Cameron Gold Project there have been numerous
exploration and drilling programmes. On the Cameron Deposit itself, the first
drilling was undertaken in July 1960. Prior to 2010, there were 836 holes
comprising in excess of 90 km of diamond drill core drilled by six companies. In 1987 at the Cameron Gold Deposit, underground development
for an extensive sampling programme was undertaken. Some 65,000 m3of
material was excavated with some bulk sampling, diamond drilling and rock chip
sampling completed. The excavated material was placed on surface at site in
three separate stockpiles: one for unmineralised access development material,
one for low-grade mineralized material; and one for mineralized material.
The unmineralised stockpile has been used from time to time for access road
maintenance. The mineralized material stockpiles have been surveyed and sampled
for the purpose of reconciliation against depletion calculations but no estimate
has been prepared that would permit inclusion of the material in a disclosure of
resources. Between 2010 and 2012, 242 surface diamond holes were drilled
totalling 36,000 m, the majority on the Cameron Deposit. Since 2010, the following exploration work has been carried out
throughout the Cameron Gold Project consisting of: 
    Airborne magnetic gradiometers survey of the
      project area in 2010.
    250 km of line cutting over the property
    142 line km of Pole-Dipole Induced Polarisation
      surveys (July 2010 to February 2011)
    Orientation geochemical sampling programme of
      surface pits around the Cameron deposit in late 2011. A total of 19
      samples of around 12 kg were collected from the base of till over an area
      of about 900 m x 600 m.
    Excavation of 94 pits in 2013 on gold-in-till
      anomalies. 2016 Annual Information Form  Page 43    
    Outcrop mapping and prospecting
    Heli-borne magnetics and Versatile Time-domain
      Electromagnetic (VTEM) over the western portion of the project in 2014. A
      total of 1457 line km of VTEM was flown at 200 m spacings.
    Several historical mineral resource estimates
      have been done for the Cameron Deposit. In May 2014, 15 holes for 2,599.5 m were diamond drilled at the
Jupiter, Ajax, Juno and Hermione prospects that are proximal to the Cameron
Deposit. Geological setting, mineralization and
deposit type The mineralisation at the Cameron Gold Project is mainly hosted
in mafic volcanic rocks within a northwest trending shear zone (Cameron Lake
Shear Zone or CLSZ) which dips steeply to the northeast. In the
southeastern part of the deposit where the greatest amount of gold has been
delineated, the shear zone forms the contact between the mafic volcanic rocks
and diabase/dolerite rocks of the footwall. Gold mineralisation occurs within quartz breccia veins,
associated with intense silica-sericite-carbonate-pyrite alteration in a series
of zones that dip moderately to steeply to the northeast within and adjacent to
the shear zone. Gold is associated with disseminated pyrite with high sulphide
concentration generally corresponding with higher gold grade. Visible gold is
rare. The mineralisation is open at depth and along strike to the northwest with
potential to expand the Mineral Resource in these directions. The Cameron Deposit is a greenstone-hosted gold deposit. While
the deposit can generally be considered to be part of the orogenic family of
gold deposits, it bears many characteristics atypical of the largest gold
deposits of this style. These features include: 
    mineralisation dominated by disseminated sulphide
      replacement and quartz-sulphide stockwork and quartz breccia veins;
    spatial and temporal association of mineralisation with
      porphyry intrusive bodies that have similar alteration assemblages (taking
      into account primary lithological variations);
    relatively minor amounts of auriferous quartz-carbonate
      vein material comprising the mineralisation, which is likely
      temporally-late compared to the disseminated sulphide replacement and
      quartz breccia veins;
    high-grade mineralisation is largely deformed and the
      disseminated sulphide replacement zones that constitute the bulk of the
      mineralisation are commonly foliated; and
    the alteration assemblage of the mineralisation
      (sericite-albite-carbonate-pyrite) is atypical. Exploration Exploration at the Cameron Gold Project commenced in 1960 and
has been conducted intermittently until the present day. Drilling A number of diamond drillhole programmes have been carried out
across the Cameron Gold Project area by a number of explorers: Noranda
Exploration Company Limited (Noranda) from 1960 to 1971; Zahevy Mines
Limited and Noranda from 1972 to 1974; Nuinsco from 1979 to 1983; Nuinsco and
Lockwood Petroleum Inc. 1983 to 1985; Nuinsco and Echo Bay Mines Limited from
1985 to 1988; Nuinsco and Deak International Resources Holding Limited from 1988
to 1990; Cambior Inc. from 1995 to 1996; Nuinsco from 1997 to 2009; and Coventry
Resources Inc. (Coventry) from 2010 to 2012. In addition, an RC
drilling programme was completed by Nuinsco from 1987 to 1989 to sample the overlying glacial till and the
bottom of hole in bedrock to test for geochemical anomalism associated with gold
mineralisation. 2016 Annual Information Form  Page 44   From 1960 through to 2012, 981 diamond drillholes were drilled
  for a total of 120,813 m. An additional 83 RC holes were drilled during the
mid-1980s for a total of 862 m. Underground exploration of the Cameron Deposit commenced in
October 1986 and was undertaken in two phases until July 1988 to verify the
surface drilling results. Overall, 457 underground diamond drillholes were
completed for a total of more than 21,707 m. An additional 55 diamond drillholes
were drilled from underground for a total of 4,887 m between 1989 and 1990. Sampling, analysis and data verification Documentation regarding historic field procedures applied by
previous explorers at the Cameron Gold Deposit, including details regarding
sample collection, preparation, transportation and security, and analytical
techniques, is poor or non-existent. Prior to 1988, core was manually split,
with half-core sent for analysis. Post 1988, drill core was cut using a masonry
saw. The inclusion of control samples is assumed and is sometimes referenced in
documentation but details regarding this are not documented. For the 2010 to 2012 drill programmes, drill core was cut on
site with wet masonry core saws by geotechnical personnel who are supervised by
Coventry site-based geologists. The selection of intervals for cutting and the
length of these intervals was based on lithological, alteration or
mineralisation boundaries as defined by the supervising geologist with 1 m
intervals used in zones of similar lithology. Within mineralisation the sampling
intervals vary from 0.06 m to 2 m. Samples were received at the laboratory and checked against
accompanying sample dispatch sheets to ensure all samples are delivered. Any
discrepancies were noted and Coventry notified that resolution was required
before the samples advanced through the preparation process. Sample preparation comprised standard laboratory techniques of
(i) drying for a minimum of 8 hours, (ii) mill crushing to greater than 70%
passing 2 mm, (iii) riffle splitting (using a Jones Splitter) to approximately
250 gm and (iv) disk pulverising to 85% passing 75 microns. The sample was then
split to 30 g for analysis with the remainder retained as a pulp residue. The
coarse remainder was put aside as a bulk residue (reject). Overweight samples (>2.5 kg) were crushed and split into two
samples, treating each as above and recombining after pulverising. All samples were analysed for gold by accredited and
independent Activation Laboratories Ltd. (ActLabs) at their Thunder Bay
facility using method 1A3-Tbay Au  Fire Assay Gravimetric. The 30 g assay
sample was combined with fire assay fluxes (borax, soda ash, silica and a lead
oxide litharge) and silver added as a collector. The mixture was placed in a
fire clay crucible, preheated at 850°C, intermediate at 950°C and finished at
1060°C over approximately 60 minutes. The crucibles were then removed from the
assay furnace and the molten slag (lighter material) is carefully poured from
the crucible into a mould, leaving a lead button at the base of the mould. The
lead button is then placed in a preheated cupel which absorbs the lead when
cupelled at 950°C to recover the silver and gold doré bead. The gold was separated from the silver in the doré bead by
parting with nitric acid. The resulting gold flake is annealed using a torch.
The gold flake remaining is weighed gravimetrically on a microbalance. The
detection limits are 0.03 ppm Au (lower) and 10,000 ppm Au (upper). All drillcore from the 2010 and 2011 drilling programs is
stored in covered steel core racks at the Cameron Gold Project. Every core box
is labelled with Dymo tags, recording hole ID, box number and from and to
depths. 2016 Annual Information Form  Page 45   All samples were individually bagged and labelled with unique
sample numbers. Corresponding laboratory specific assay tags were included in
each sample bag, which were then sealed with plastic zip-ties and batched in
woven nylon bags. Samples were transported via commercial road transport on a
weekly basis during drilling programmes. The samples were taken to ActLabs in
Thunder Bay or to the ActLabs sample preparation facility in Dryden before being
transferred to Thunder Bay for analysis. Drill core was logged in the exploration camp at Cameron Lake.
The core was logged for geology, alteration, mineralisation, structure and other
geological features such as veining. The core was photographed in wet and dry
condition and stored in racks prior to sampling by core cutting. The drill core
was marked up with the sample intervals and the core was cut using a diamond
blade saw. Sample tickets were stapled into the wooden core trays and the other
half put into the sample bag. The sample number was also written on the outside
of the calico sample bag for identification and sorting purposes. The core is
stored in the exploration facility at the Cameron Property. This has dedicated
covered racks for storing drill core, wooden crates for sample residues, and sea
containers for sample pulps. All samples were individually bagged and labelled with unique
sample numbers. Corresponding laboratory specific assay tags were included in
each sample bag, which were then sealed with plastic zip-ties and batched in
woven nylon bags. Samples were transported via Gardewine North commercial road
transport of Kenora. The samples were taken to ActLabs in Thunder Bay.
Confirmation was sent to Chalice that the security tags were intact, and that
the numbers match the sample despatch request. As part of its QA/QC review, Optiro Pty Ltd. (Optiro)
was provided a Microsoft access database containing two QA/QC tables. One table
comprised standards and blanks and one table comprised duplicates assay results.
Optiro exported these tables into CSV format and imported the QA/QC results into
data analysis spread sheets to review the Cameron QA/QC results. The underground drilling data collected between 1987 and 1989
was considered critical to the quantity and quality of the 2014 Mineral Resource
Estimate, and as no QA/QC information was available, Coventry undertook a
re-sampling program in order to establish confidence in the assay results. The
Coventry re-sampling programme targeted mineralisation in and around the
underground development. Remaining core was quartered either using a core saw or
manually (depending on core condition) over the same sample intervals as
currently recorded in the database. The re-samples were prepared and assayed in
exactly the same manner that samples from Coventrys diamond drilling programme
were processed with sample preparation and analysis carried out at ActLabs in
Thunder Bay. This re-sample programme provided 816 directly comparable assay
results, from a total of 1,904.6 m of drill core. The comparison is between half
core (original sample) and quarter core (resample). Optiro only managed to identify 101 samples recorded in the
QA/QC database to be duplicate samples and that were submitted by Coventry in
2010 and 2011. Optiros analysis of the 101 identified quarter core duplicate
samples indicates a poor repeatability of grades between paired samples with a
correlation coefficient of 0.24. The results suggest that the duplicate samples
are under reporting compared to the original grades at gold grades of less than
1 g/t Au, and over reporting compared to the original grades at gold grades of
greater than 2 g/t Au. Results from the scatter plot, precision plot and relative
difference plots highlight a moderate to poor precision and poor repeatability
of duplicates from this resample programme. In Optiros opinion the
repeatability and precision of these duplicates does not demonstrate a high
level of confidence. However, the small number of samples does not in Optiros
opinion provide definitive evidence of issues with the duplicate repeatability.
Optiro notes that consideration for differing sample volumes i.e. manually split
half core (versus) sawn quarter core needs to be taken into account when
reviewing duplicate analysis results. As such, whilst Optiro recommends that
First Mining needs to review the performance of the Coventry resample programme
further, Optiro considers these results to be adequate for resource estimation. Optiro has identified 249 blanks submitted by Coventry as part
of its resample programmes in 2010 and 2011. Of the 249 blanks submitted four
returned grades above 0.03 g /t Au. This represents a failure rate of less than
2%. Optiro considers these results to be adequate for resource estimation. 2016 Annual Information Form  Page 46   Optiro identified 236 standards submitted by Coventry as part
of its resample programmes in 2010 and 2011. Of the 236 standards submitted, 10
different Certified Reference Material (CRM) standards with gold grades
ranging from 0.38 g/t to 7.97 g/t Au were used during the Coventry resample
programme. A total of 55 gold standards fall outside three standard deviations
which represents a failure rate of approximately 23%. When graphed, it is
evident that a large number of the standard failures are potential sample swaps
(i.e. incorrect standard labelling or blanks labelled as a standard). However,
due to the close gold grades of a number of standards, it is not possible to
determine with 100% accuracy what the actual standard ID might be. Optiro does not know whether Coventry resubmitted all failed
batches for re-analysis. Optiro considers that the sample swaps should be rectified in
the database so that the QA/QC performance is representative of the performance
of the standards. In taking these into account, Optiro considers that the CRM
assay performance is adequate for estimation. As part of their 2010 to 2012 drilling programmes, Coventry
submitted standards, duplicates and blanks as part of their quality control
program. The blank material was obtained from a granite quarry and
whilst not certified, was considered by Coventry to be sufficiently homogenous
and unmineralised to act as barren material. Of the 921 blanks submitted eight
(8) returned grades above 0.03 g /t Au. This represents a failure rate of less
than 2%. These failures were reviewed at the time by Coventry and were
considered to be potential laboratory contamination issues. Optiro considers
these results adequate for resource estimation. Of the 921 standards submitted, six were recorded as have
grades of -99. Optiro removed these standards from the database prior to any
further analysis. A total of 12 different CRM standards with gold grades ranging
from 0.69 g/t Au to 7.97 g/t Au were used during the Coventry drill programs. The provided database contained 901 quarter core duplicate
samples collected by Coventry during the 2010 to 2012 drilling programmes. The
duplicates demonstrate a moderate correlation coefficient (0.83) indicating
moderate repeatability of grades between paired samples. The relative precision of a field duplicate dataset is
determined by calculating the absolute difference between the two samples
grades divided by the mean of the sample pairs. Good or high precision suggests
that the paired samples are consistent with each other, both samples have been
well homogenised and that sample size (weight) is adequate to be representative
of the material collected from the drillhole. Poor or low precision suggests
that the samples have been poorly prepared, have a high inherent nugget, poor
assaying, or are not large enough to be representative. Of the duplicates
submitted to Actlabs, 74% of assays were within 5% precision, 76% within 10%
precision, and 78% within 15% precision. Results from the scatter plot, precision plot, and relative
difference plots highlight a moderate to poor precision and moderate to poor
repeatability of duplicates from these phases of drilling. Part of this could be
due to the use of chisel vs. saw splitting, or the use of quarter vs. half core
samples, which Optiro does not consider to be a true representative duplicate
sample when dealing with gold mineralisation. As previously stated, taking into
account consideration for differing sample volumes (i.e. half core versus
quarter core), Optiro considers these results to be adequate for resource
estimation. In 2014, Chalice undertook a resampling program to provide
additional confidence in the underlying drillhole sample assays results used for
Mineral Resource estimation. The samples selected were considered to be
spatially representative of the majority of the Cameron Gold Deposit with an
emphasis on near surface locations. A total of 492 pulps and 325 coarse rejects
were selected from the existing drillholes within the following series: 
    Historical holes  resample of pulp samples
      only
    Coventry 2010 holes  pulps and rejects
    Coventry 2011 holes  pulps and rejects. 2016 Annual Information Form  Page 47    The following is an overview of the pulp sampling program
    taken from the Chalice 2014 Report.
    Selected pulp samples were sent to AGAT Laboratories of
      Mississauga, Ontario  the Umpire Laboratory
    The samples were not re-numbered given the sample
      sequence had never been seen by this laboratory
    The laboratory was requested to place an A prefix to
      the start of the sample number to distinguish these results from the
      original results.
    Standards and Blanks were included with these samples
      positioned in the same location sequence as in the original submission; a
      new Standard was placed in the position of the original Standard (the
      original Standard sample being exhausted by the analytical process) whilst
the Blanks were retained from the original submissions. The selected samples were renumbered (for disguise) and
re-submitted to ActLabs to preparation and analysis by the method adopted by
Coventry and described in previous reports. Standards and Blanks were included with these samples
positioned in the same location sequence as in the original submission; a new
Standard was placed in the position of the original Standard (the original
Standard sample being exhausted by the analytical process) whilst the Blanks
were retained from the original submissions. Results from the pulp duplicate analysis indicates a good
repeatability of pulps, while results from the coarse reject analysis
illustrates that the average grade of the rejects is 4% lower than the original
sample. Optiro was not provided with this data and as such has not been able to
replicate these results. Optiro considers the assay performance of the pulp and reject
samples to provide good support for the representivity of the analytical results
and for mineral resource estimation. In 2015, Chalice undertook two resampling programs of unsampled
intervals within the CSZ. Optiro has based the following analysis of standards,
duplicates and blanks submitted as part of the 2015 resampling programs based on
the coding in the provided database. Of 1,608 blanks submitted during the 2015 resample program, 10
returned grades above 0.03 g/t Au. This represents a failure rate of less than
1%. Optiro considers these results to be a good measure of the sample
preparation process and acceptable for resource estimation. Of 1,644 standards submitted, 10 were recorded as sample
consumed. Optiro removed these standards from the database prior to any further
analysis. A total of 9 different CRM standards with gold grades ranging from
0.34 g/t Au to 7.97 g/t Au were used during the Chalice resample programmes. A total of 144 gold standards fell outside of three standard
deviations, which represents a failure rate of approximately 9%. The majority
(but not all) of the failures appear to be sample swaps (i.e. incorrect standard
labelling or blanks labelled as a standard). In this program, Chalice did not
resubmit failed batches for re-analysis but Optiro recommends implementation of
this protocol for future programs. In addition, Optiro notes the presence of
what appears to be cyclic trends in the standard results. Further investigation
into these trends is recommended. Of 1,629 quarter core duplicates submitted, one was recorded as
having a grade of -99. Optiro removed this sample from the database prior to any
further analysis. The duplicates demonstrate a moderate correlation coefficient
(0.79) indicating a moderate repeatability of grades between paired samples.
Optiro notes there are number of original samples (43) with barren grade
(<0.03 g/t Au) where the duplicate has returned gold grades ranging from 0.1
g/t Au to 2.42 g/t Au. Furthermore, there a number of duplicate samples (47) of
barren grade with an original grade ranging from 0.1 g/t Au to 3.1 g/t Au,
suggesting that there are potentially sample swaps. The relative precision of a field duplicate dataset is
determined by calculating the absolute difference between the two samples
grades divided by the mean of the sample pairs. Good or high precision suggests
that the paired samples are consistent with each other, both samples have been
well homogenised and that sample size (weight) is adequate to be representative
of the material collected from the drillhole. Poor or low precision suggests
that the samples have been poorly prepared, have a high inherent nugget, poor
assaying, or are not large enough to be representative. Of the duplicates
submitted to Actlabs 86% of assays were within 5% precision, 87% within 10%
precision, and 88% within 15% precision. 2016 Annual Information Form  Page 48   Results from the scatter plot, precision plot, and relative
  difference plots highlight a moderate precision and a moderate repeatability of
duplicates from these resampling programs. Based on the good correlation coefficient and moderate
repeatability performance of the duplicate samples Optiro considers the results
from the Chalice 2015 resampling program to be acceptable for use in a mineral
resource estimate. Aside from the pulp resample programme undertaken by Chalice in
2014, Optiro is unaware of any additional umpire duplicate sampling that has
taken place at Cameron Gold Project. Data verification has been carried out by the author to verify
the following elements: 
    Deposit location and geology confirmed by site
      visit to view outcrop exposures, drill core samples and photographs of
      drillcore
    Drill collar locations and grid co-ordinates
      verified by GPS check of randomly selected drill hole co- ordinates
    Downhole survey deviation compared on an random
      selection of drill holes
    Quantum of stated mineralisation supported by
      independent sampling of mineralisation
    Assay integrity verified by sample QA/QC
      analysis, no significant bias identified Primary source data (surveys, downhole survey information,
assay certificates) checked against database for errors and no material issues
identified. The results of the data validation process have verified the
accuracy and integrity of the information provided by Chalice. It is Optiros
opinion that the Cameron database is acceptable for the purpose of mineral
resource estimation. Mineral processing and metallurgical
testing A number of preliminary metallurgical studies have been carried
out on samples from the Cameron Property from 1985 to the present. Multi-element
geochemical assays of the samples from the drillholes drilled between 2010 and
2012 have indicated that concentrations of deleterious elements (such as
sulphur) are not significant. Metallurgical test work carried out on samples representative
of the style of mineralization at the Cameron Gold deposit showed that
recoveries of 92% to 93% were returned from direct cyanidation of samples ground
to 75 μm. The results also showed that the recoveries were grind sensitive with
maximum recoveries at a P80 grind size in the range 53 to 75 μm. An alternative
processing regime of sulphide flotation (mainly pyrite), regrind of flotation
concentrate followed by intensive cyanidation of flotation concentrate and
flotation tailings provided gold recoveries marginally higher than direct
cyanidation. At a grind size of 75 μm the optimum leach time was approximately
24 hours. Test work completed in 2013 by the Vancouver branch of SGS used
a composite sample taken from 17 drillhole intersections from 14 separate
drillholes at the Cameron Project. Comminution tests indicated that: 
    rod and ball mill bond work indices are low;
    moderate abrasion index within typical ranges
      for dolerite-basalt material; and
    JK breakage parameters indicating the material
      is highly competent. 2016 Annual Information Form  Page 49    Mineral resource estimates The mineral resource estimates for the Cameron Deposit have
been generated from drillhole sample assay results. The interpretations are
based on an integrated 3D geological model that defines the relationships of the
geological elements at the Cameron Property. The interpreted mineralisation
wireframes (using a nominal 0.4 g/t Au and 0.25 g/t Au cut-off grade for low
grade domains) have been used to constrain gold grade estimates. There are eight
mineralisation domains that are split into two global areas northern and
southern, with the separation defined by a set of northwest (grid) striking
quartz feldspar porphyry (QFP) dykes. The southern domain is the most
strongly mineralised. The stronger mineralisation is attributed to being
dominantly mafic hosted with an inflection point in the Cameron Lake Shear Zone
and resultant dilation zone defined by north-south striking hangingwall and
footwall QFP dykes. Block grade estimation parameters have been defined on the
basis of geology, drillhole spacing and through geostatistical analysis of the
data. Block grade estimation is by ordinary kriging (OK) into a panel
size of 5 mE by 10 mN and 5 mRL, which is considered appropriate for the
distribution of sample data and the deposit type. Sub-celling of the parent
cells to 0.625 mE by 2.5 mN and 1.25 mRL was enabled to ensure good volumetric
correlation with the mineralisation wireframes. The mineral resource estimates have been classified by the
geological understanding, data spacing, block proximity to sample locations,
underground development and confidence in the block model grade estimate. The
mineral resource estimate has been reported in accordance with the Standards on
Mineral Resources and Reserves of the Canadian Institute of Mining, Metallurgy
and Petroleum 2014 Definition Standards. The mineral resources have been reported using updated
constraints and cut-off grades. The mineral resource is tabulated in the Table A
below for Measured and Indicated Mineral Resources and in Table B for Inferred
Mineral Resources. 2016 Annual Information Form  Page 50   Table A - Measured & Indicated Mineral Resource statement
as at January 17, 2017 Mineral Resource
      Classification
      Open-Pit Constraint
      Gold cut-off (Au g/t)
      Tonnes
      Gold g/t
      Gold (Ounces)Measured Mineral Resource
      Within US$1,350 open-pit shell
      0.55
      2,670,000
      2.66
      228,000Indicated Mineral Resource
      Within US$1,350 open-pit shell
      0.55
      820,000
      1.74
      46,000Measured + Indicated
      
      
      3,490,000
      2.45
      274,000Mineral Resource Classification
      Underground Constraint
      Gold cut-off (Au g/t)
      Tonnes
      Gold g/t
      Gold (Ounces)Measured Mineral Resource
      Below US$1,350 open-pit shell
      2.00
      690,000
      3.09
      69,000Indicated Mineral Resource
      Below US$1,350 open-pit shell
      2.00
      1,350,000
      2.80
      121,000Measured + Indicated
      
      
      2,040,000
      2.90
      190,000TOTAL MEASURED + INDICATED
      
      
      5,530,000
      2.61
      464,000
 Table B - Inferred Mineral Resource statement as at January 17,
2017 Mineral Resource
        Classification
      Open-Pit
        Constraint
      Gold cut-off (Au g/t)
      Tonnes
      Gold g/t
      Gold (Ounces)Inferred Mineral Resource
      Within US$1,350 open-pit shell
      0.55
      35,000
      2.45
      3,000Mineral Resource Classification
      Underground Constraint
      Gold cut-off (Au g/t)
      Tonnes
      Gold g/t
      Gold (Ounces)Inferred Mineral Resource
      Below US$1,350 open-pit shell
      2.00
      6,500,000
      2.54
      530,000TOTAL INFERRED
      
      
      6,535,000
      2.54
      533,000
 The Measured and Indicated Mineral Resources are defined in the
areas of the deposit that have the highest drilling density along with
underground development that has exposed and sampled the deposit on three levels
of drift development. 2016 Annual Information Form  Page 51   Pickle Crow Technical report The Pickle Crow Property project (the Pickle Crow
Project) description is based on the projects technical report: A
Mineral Resource Estimate for the Pickle Crow Property, Patricia Division,
Northwestern Ontario, Canada(dated June 2, 2011) (the Pickle Crow
Technical Report). The report was prepared for us in accordance with NI
43-101, by or under the supervision of B. Terrence Hennessey, P.Geo.; Alan J.
San Martin, MAusIMM(CP); and Sam J. Shoemaker, B.Sc. MAuIMM, Reg. Mem. SME; all
qualified persons within the meaning of NI 43-101. The following description has
been prepared under the supervision of Chris Osterman, P.Geo. who is a qualified
person within the meaning of NI 43-101, but is not independent of us. The conclusions, projections and estimates included in this
description are subject to the qualifications, assumptions and exclusions set
out in the Pickle Crow Technical Report, except as such qualifications,
assumptions and exclusions may be modified in this AIF. We recommend you read
the Pickle Crow Technical Report in its entirety to fully understand the
project. You can download a copy from our SEDAR profile (www.sedar.com),
or from our website (www.firstminingfinance.com). Project description, location and access The Pickle Crow Property is located in northwestern Ontario
about 400 km north of Thunder Bay and approximately 11 km east of the town of
Pickle Lake. The Pickle Crow Property is centred at approximately 51o 31 North
latitude and 90o West longitude in NTS map area 52O/11. The Pickle Crow Property can be reached from the city of
Thunder Bay by proceeding westerly on the paved TransCanada Highway (Highway 17)
for approximately 245 km to the town of Ignace and then northward on paved
Provincial Highway 599 approximately 290 km to the town of Pickle Lake. From
Pickle Lake, access to the Pickle Crow Property is along a good gravel road that
connects to Highway 599 near the village of Central Patricia. The western
boundary of the Pickle Crow Property is 6.5 km from the turn off at Highway 599.
The total road distance to the Pickle Crow Property from Thunder Bay is
approximately 545 km. The Pickle Crow Property consists of 98 contiguous patented
mining claims covering a surveyed area of 1,582.9 ha and 19 unpatented mining
claims comprised of 166 units covering an unsurveyed area of approximately 2,656
ha for a total of 117 claims comprised of 264 units totalling approximately
4,239 ha. Through our wholly-owned subsidiary, PC Gold, we are party to a
99 year mining lease (the Mining Lease) with Teck Resources Limited
(Teck) which expires July 31, 2067. The Mining Lease requires payment
of $1.00 per year which has been prepaid in full in advance. Registered
ownership of mineral rights and surface rights for the Pickle Crow patented
claims is held by Teck as fee simple, absolute, the highest level
possible. Our leasehold interest in the patented claims is additionally
subject to two NSRs totalling 1.25%. These royalties would be payable only upon
commencement of commercial production. We have the option of purchasing these
royalties. There are no other royalties, back-in rights or encumbrances on the
Pickle Crow Property. The unpatented portion of the Pickle Crow Property is subject
to assessment work requirements. All phases of our exploration activities on the Pickle Crow
Property are subject to environmental regulation. These regulations mandate,
among other things, the maintenance of air and water quality standards and land
reclamation and provide for restrictions and prohibitions on spills, releases or
emissions of various substances produced in association with certain exploration
and mining industry activities and operations. They also set forth limitations
on the generation, transportation, storage and disposal of hazardous waste. A
breach of such regulations may result in the imposition of fines and
penalties. In addition, certain types of exploration and mining activities
require the submission and approval of environmental impact assessments. 2016 Annual Information Form  Page 52   The Pickle Crow Property has, over the course of the past two
  decades, been subject to several environmental studies which examined, among
  other things, water quality and its impact, if any, on the health of aquatic
  populations in the watershed encompassing it. These preliminary studies indicate
  that in spite of the history of mining on the Pickle Crow Property, including a
  significant volume of historical tailings sitting in four tailings basins on
  surface and extensive areas of flooded mine workings, water quality samples
  generally meet provincial water quality standards. This appears to be due in
  part to the generally low sulphide content and natural buffering effect of the
carbonate minerals found in the vein ore historically mined. History The Pickle Crow deposit was originally discovered in the early
1930s and commercial production at the mine began in 1935. The Pickle Crow mine
operated until 1966 during which time it produced 1,446,214 troy ounces of gold
and 168,757 troy ounces of silver from 3,070,475 tons of ore milled (at an
average grade of 0.47 oz./t or 16.14 g/t). The Pickle Crow Property sat dormant
from 1966 to the late 1970s. In 1979, a VLF-EM (very low frequency-electromagnetic)
geophysical survey of the Pickle Crow Property was performed and 47 surface
diamond drill holes for 7,356 m were drilled. The only known soil geochemical
survey done on the Pickle Crow Property was completed in 1983. The samples were
collected along the same cut grid lines as used for the VLF-EM survey. Soil
values ranged from 10 to 12,000 ppb, with the high values attributed to the mine
tailings and thought to be cultural anomalies. Between 1985 and 1987, the most extensive exploration program
on the Pickle Crow Property since its closure and up to that time was completed.
The program consisted of line-cutting, magnetometer and induced polarization
geophysical surveying, geological mapping, surface trenching, diamond drilling
and environmental baseline studies. In total, 286 surface diamond drill holes
drilled for 46,189 m and 79 underground diamond drill holes for 9,341 m which
were completed between 1985 and 1988. Following completion of the program, all
shafts, ventilation raises and other surface openings were capped with concrete
in 1989 after an estimated $9.2 million was spent on the Pickle Crow Property.
Two historic (non-NI 43-101 compliant) resource estimates were commissioned, one
in April of 1988 and a second in December of 1988. A total of four surface diamond drill holes for 2,287 m were
drilled in the fall of 1998. An additional 18 surface diamond drill holes were
completed in 1999 for 2,173.5 m. Between 1999 and 2001, two bulk samples were taken from the No.
5 Vein and No. 1 Vein crown pillars respectively. In 2002, the building of a 225 t/d extreme gravity mill was
commenced on the site, a partially complete production closure plan was
submitted to the then MNDM and construction of a tailings management facility
within the historic Pickle Crow tailings area began. Stockpiling of material
mined from the historic No. 1 Vein shaft and crown pillar area in the summer of
2002 also commenced. On May 13, 2008 PC Gold acquired its interests in the Pickle
Crow Property. It then launched the current exploration program in conjunction
with the staking of surrounding unpatented claims which now define the
boundaries of the current Pickle Crow Property. Geological setting, mineralization and
deposit types The Pickle Crow Property lies within the Pickle Lake greenstone
belt, part of the Uchi Subprovince, which is within the Superior Province of the
Canadian Shield. The Pickle Lake greenstone belt comprises an approximately
70-km long by 25-km wide area of supracrustal rocks and internal granitoid
plutons surrounded by large granitoid batholiths. 2016 Annual Information Form  Page 53   The supracrustal rocks have been deformed and metamorphosed to
greenschist facies with amphibolite facies occurring in the thermal aureoles of
younger plutonic bodies. The Pickle Lake greenstone belt is subdivided into four
tectono-stratigraphic assemblages including: 
    The Pickle Crow assemblage.
    The Kaminiskag assemblage (not present on the
      Pickle Crow Property).
    Unnamed Temiskaming-like assemblage.
    The Confederation assemblage. On the Pickle Crow Property, the Pickle Crow assemblage is
dominated by tholeiitic basalts with intercalated sediments (primarily banded
iron-formation, sometimes referred to as BIF), and rare calc-alkaline volcanic
and volcaniclastic units. The assemblage occupies the northwestern part of the
greenstone belt and is interpreted to be unconformably overlain by the
Confederation assemblage. Gold mineralization on the Pickle Crow Property is orogenic in
nature and occurs in complexly folded and sheared, mainly tholeiitic, volcanic
rocks of the Pickle Crow assemblage near its contact with calc-alkaline
volcanic/volcaniclastic rocks of the Confederation assemblage. Host rocks for
the mineralization include tholeiitic lavas, banded iron formation, intermediate
volcanic/volcaniclastic rocks and quartz feldspar porphyry. Gold occurrences on
the Pickle Crow Property are associated with four styles of mineralization: 
    Narrow, high-grade gold-scheelite-bearing
      quartz veins, which were the main source of gold produced at the Pickle
      Crow mine from 1935 to 1966.
    Iron formation-hosted gold mineralization
      adjacent to vein structures. The iron formation contains stringers and
      discontinuous lenses of quartz and the iron-bearing minerals have been
      replaced by sulphides. Both quartz and sulphides are gold- mineralized.
      Only a limited amount of this type of material was processed at the Pickle
      Crow mine. However, iron formation-hosted gold was the main ore type at
      the adjacent Central Patricia mine to the southwest.
    Shear zone-hosted gold mineralization
      consisting of complex wide zones of intense shearing and alteration which
      are intimately associated with the intrusion of the Albany porphyry and
      characterized by disseminated pyrite, discontinuous quartz veining and
      sulphidation of interflow iron formation.
    Arsenopyrite-associated gold mineralization
      which typically occurs as disseminated to semi-massive arsenopyrite and
      quartz-arsenopyrite stockworks hosted by iron formation but can be also
      found, to a lesser extent, in shear zones and/or quartz veins in volcanic
      rocks. Similar arsenopyrite-rich iron formation-hosted gold was the main
      ore type at the adjacent Central Patricia mine. We consider the gold occurrences in the Pickle Lake mining camp
to be classical examples of deposits grouped under the descriptive model of
Archean low-sulphide gold- quartz veins. This deposit type is also known as
shear- zone-hosted gold, Archean quartz-carbonate vein gold deposits, Archean
lode gold, Archean mesothermal gold or orogenic gold. Exploration In 2007, sourcing and compilation of available historical data
was started. In October 2007, a total of nine samples from the Pickle Crow
Property. Two types of samples were obtained on a spontaneous and random basis :
eight field duplicate split core samples from a series of drill holes that are
stored at two locations on the Pickle Crow Property and one composite chip
channel sample taken from the outcropping one vein in its bulk sample pit. Starting in the spring of 2008 PC Gold commenced an extensive
exploration program consisting of locating historical drill collars with a
differential GPS; surveying historical shafts; reconnaissance geological mapping
and relocating historical trenches; limited channel sampling and
mapping of historical trenches and diamond drilling of 33 holes with up to 2
rigs totalling 8,638 m in the core mine trend to confirm historical holes. This
program confirmed the results of historical drill holes and provided confidence
in the digital database. 2016 Annual Information Form  Page 54   Field exploration was renewed in the spring of 2009 with a
  focus continuing on the core mine trend. This exploration program consisted of
  diamond drilling of 34 holes with up to 3 rigs totalling 14,308 m; shallow
  drilling targeting; U-Pb age dating of detrital zircons from two samples; line
  cutting (114.9 km) on the core mine and Cohen-MacArthur trends; a Titan IP
  (71.45 line-km, 80.25 km with current extensions) and ground magnetometer survey
  (110 line-km); and prospecting with a focus on the Cohen-MacArthur trend. The
  most significant results of the 2009 program were the discovery of Conduit Zone
  1, the discovery of Pickle Crow type high-grade veins hosted in intermediate
  volcanic rocks and gabbro of the Confederation assemblage (Confederation veins),
  possibly representing surface expression of a vein, the identification of
  Temiskaming-like sediments in the core mine trend, and the identification of the
Cohen-MacArthur trend by geophysics. In 2010, exploration continued with the focus remaining on the
core mine trend but expanding to include the Cohen-MacArthur trend. The
exploration program consisted of diamond drilling of 106 holes with up to 4 rigs
totalling 35,545 m, including helicopter supported drilling; and trenching
program consisting of 9 trenches totalling approximately 32,000 m2including 1,707 channel samples. The most significant results of the 2010
program were the discovery of the no. 19 vein, the Kawinogans Zone and the
Central Pat East Zone and the extension of the No. 1 Vein 700 m below the
historical workings. The No. 20 and 21 Veins were also discovered. As of March 12, 2011, the exploration program continued with
drill testing of the core mine but with a focus on regional targets along the
Cohen-MacArthur trend. The exploration program consisted of diamond drilling of
11 holes with up to 3 rigs, totalling 4,476 m; 881.4 line-km of 50-m spaced
helicopter borne AeroTEM and magnetometer surveys; and completion of baseline
water sampling and sampling of stockpiled high and low grade ore for finalizing
the closure plan. Significant results of the 2011 exploration program to date
include the expansion of the Central Pat East Zone as a possible near surface,
bulk tonnage target and the continued expansion of the No. 19 Vein. On April 18, 2011, PC Gold announced a 1.26 million ounce NI
43-101-compliant inferred mineral resource, audited by Micon International
Limited (Micon), which triggered the preparation of the Pickle Crow
Technical Report. Drilling Since acquiring the Pickle Crow Property in early May 2008, PC
Gold has conducted an aggressive diamond drill program designed to confirm and
expand the historic resources and make new discoveries. The most prominent of
these new discoveries was the No. 19 Vein with 15.95 g/t Au over 0.70 m.
Follow-up intercepts of the zone included 43.28 g/t Au over 13.13 m and are
considered by PC Gold to represent the most significant discovery since the
closure of the mine in 1966. Other discoveries include the Conduit Zones in the
Albany Shaft area and the Central Pat East Zone along the Cohen-MacArthur trend. A total of 184 holes totalling 62,968 m have been drilling on
the Pickle Crow Property between June 2008 and March 12, 2011. Drilling was
completed in three phases as described above. All holes were drilled with NQ-sized core (47.6 mm) with the
exception of 9 BQ Thin Wall holes (40.7 mm) drilled. The bulk of the PC Gold holes were drilled in the core mine
trend with the second largest concentration along the Cohen-MacArthur trend.
Several new mineralized zones were intersected. Other newly discovered zones
include the No. 20 and 21 Veins, the Confederation Veins, and the Kawinogans
Zone. Significant extensions to known zones include extending the No. 1 Vein at
Shaft 1 to 1,500 m depth and the intersection of abundant quartz veining beneath
the workings of Shaft 3 which is interpreted to be the extension of the No. 6
and 7 Veins. 2016 Annual Information Form  Page 55   The drilling program has extended several known zones and
outlined new discoveries. These include high grade, narrow vein targets and more
disseminated bulk tonnage targets which may be amenable to open pit or
underground bulk mining. Sampling, analysis and data verification Two types of sample collected by PC Gold during exploration of
the Pickle Crow Property were used in the preparation of the mineral resource
estimate presented in the Pickle Crow Technical Report, channel samples from
trenches and diamond drill core. Channel Samples -Collection of the trench channel
samples was completed after the trenches were excavated, washed and mapped.
Channel sampling was performed utilizing a Stihl quick-cut rock saw. Two
continuous parallel cuts were sawn approximately 5 cm apart and approximately 5
cm deep, with the rock in between then chipped out using a chisel. Sample
lengths varied between 0.3 and 2.0 m averaging 0.90 m. Each sample was placed in
a thick plastic bag with the sample number clearly written on the outside of the
bag with permanent marker and with one portion of a three part sampling ticket
placed inside. Each sample was sealed with a cable strap. The location of the
samples was noted in the sample book and on the trench map. Aluminum tags with
etched sample numbers were hammered into the cross cuts, using cement nails, at
the beginning of each sample interval for a permanent record on the trench. Once
collected, the samples were bagged and shipped as per the sample shipment
procedures described below, with the exception that all channel samples were
shipped to AGAT Laboratories Ltd. (AGAT) of Mississauga, Ontario. Diamond Core Logging and Sampling NQ diameter (47.6
mm) drill core was logged, then sawn in half using diamond bladed saws at the
secure logging/core-cutting buildings onsite, under the overall supervision of
the logging geologists. The core was sawn in half following a sample cutting
line determined by the geologists during logging. After cutting, one half of the
core was bagged, labelled and sealed with a zip tie or staples after one part of
the three part sample tag was placed inside. The second part of the sample tag
was stapled into the core box at the beginning of each sample. The third part of
the tag was kept in the sample tag book as a permanent record. The remaining
half core was placed in core boxes to serve as a permanent record and stored in
a secure onsite facility. All samples were shipped from the site in a locked
wooden crate with security tags. The samples were transported via Manitoulin
Transport to laboratory preparation facilities in Thunder Bay, Ontario for
crushing, pulverization and pulp preparation. In 2008, samples were shipped to
ALS Chemexs (ALS) facility in Thunder Bay. In 2009 and 2010, samples
were sent to Accurassay in Thunder Bay. Once the core/channel samples were cut, bagged and sealed with
zip ties or staples, ten samples were put into a larger rice bag, which was then
sealed with a secure, numbered security tag. The security tag numbers were
recorded along with the corresponding samples within the bag, and then shipped
in the locked wooden crates to the laboratory. Once they arrived at the
laboratory, the security tags and corresponding samples were recorded again by
the laboratory and emailed back to the PC Gold field site for confirmation.
Prior to shipment the sample bags were stored in a locked building onsite. The
site is always occupied. No samples were left at the project site during field
breaks. A total of 5,797 drill samples, which include QA/QC samples
(i.e. duplicates, standards and blanks) were submitted to ALS in 2008 for
analysis. A total of 42,392 drill samples, including QA/QC samples, were
submitted to Accurassay in 2009 and 2010 for analysis. A total of 1,577 channel
samples, including QA/QC samples, were submitted to AGAT in 2010 for analyses. For the analysis of Pickle Crow Property drill core samples,
ALS was chosen as the primary laboratory in 2008. Accurassay was chosen as the
primary laboratory for drill core samples in 2009 and going forward. In 2008, samples were crushed and prepared at ALS facilities
in Thunder Bay, Ontario and sample pulps were shipped to its North Vancouver,
British Columbia laboratory for analysis. ALS facilities in Thunder Bay are
certified to ISO 9001. The laboratory in North Vancouver is accredited to ISO
17025 for gold fire assay by atomic absorption and gravimetric finish as well as
four-acid multi-element analysis by ICP and MS. In 2009 and 2010, samples were
crushed, prepared and analyzed at the Accurassay facility in
Thunder Bay, Ontario. Accurassay is accredited to ISO 17025 for gold by fire
assay with atomic absorption finish. The trench channel samples were assayed at
AGAT in Mississauga, Ontario. AGAT is accredited to ISO 17025. 2016 Annual Information Form  Page 56   All samples sent to ALS for analysis were prepared using a jaw
  crusher, which was cleaned with compressed air between samples, resulting in 70%
  of the sample passing through a 10 mesh screen. A 1,000 g split of the crushed
  sample was then pulverized to 85% passing a 200 mesh screen. All samples sent to
  Accurassay for analyses were prepared using a jaw crusher, which was cleaned
  with a silica abrasive between samples, resulting in 90% of the sample passing
  through an 8 mesh screen. A split of the crushed sample weighing 1,000 g was
  then pulverized to 90% passing a 150 mesh screen. AGATs sample preparation
  procedures include crushing to 75% passing 2 mm and pulverizing to 85% passing
75 μm. For all three laboratories, the prepared sample pulps were
analyzed for gold by fire assay using 50-g sample charge with AAS finish. If the
returned assay result was equal to or greater than 5 g/t then the sample was
reassayed by fire assay with gravimetric finish. All samples greater than 10
g/t, and any samples suspected of nugget gold (quartz veins) were additionally
sent for pulp metallics analysis using the remainder of the pulp (~950 g of
sample). PC Gold has completed bulk density measurements on 2,602
samples of mineralized and unmineralized diamond drill core, and select grab
samples from ore stockpiles onsite from the Pickle Crow mine. Of these, 1,918
measurements were used in the calculation of average specific gravity for the
Pickle Crow Property. During a review of the data, 684 measurements were
discarded due to laboratory errors that produced unrealistic specific gravity
values. Diamond drill hole data and trench data in stored in Excel
spreadsheets. These can easily be imported into Microsoft Access database
software and used in many resource estimation/mine planning software packages.
We also use Gemcom software to evaluate drill results and has the finalized data
stored in Microsoft Access. Excel is used to manage the data and QA/QC program. The Pickle Crow Project QA/QC program includes the use of crush
duplicates, 1⁄4-split drill core (field duplicates), the insertion of certified
reference materials including low, medium and high grade standards and coarse
blanks. This is accomplished by inserting the QA/QC samples sequentially in the
drill core sample numbering system. One set of the four QA/QC types were
inserted every 30 samples, consisting of 1 crush duplicate, 1 quarter-split
field duplicate, 1 standard (alternating between a low, medium and high
standard), and 1 blank. This resulted in approximately every seventh sample
being a QA/QC sample. Sample assay results are evaluated through control charts, log
sheets, sample logbook and signed assay certificates to determine the nature of
any anomaly or failure. Identified failures are re-assayed by the laboratory at
which the failure occurred until a cause of the failure and correct analysis is
obtained. Check assaying is also conducted on approximately 1 in every 20
samples. The pulps are re-numbered with new, sequentially-inserted QA/QC samples
and sent to a second ISO certified laboratory (Actlabs of Ancaster, Ontario). Approximately 1 out of every 20 samples for the Pickle Crow
Project were submitted to a second laboratory, Actlabs, an ISO 17025 certified
laboratory with a sample preparation and analytical facility in Ancaster,
Ontario. The assaying protocol used is similar to ALS and Accurassays using
fire assaying with a 50-g charge and AAS finish. Samples above 3 g/t Au are
re-assayed using a gravimetric finish, and above 10 g/t by pulp metallic
methods. A total of 2,117 check samples were sent to Actlabs. Check assays
generally matched the value obtained by the original laboratory and the overall
variation between laboratories was well within the natural variation of the
sample material as indicated by the field and crush duplicates. During the October, 2011 site visit, Micon did not complete any
check sampling. Micon did examine surface exposures and stockpiles of
mineralization from the No. 1 Vein and No. 5 Vein. Visible gold was noted in the
samples on the No. 1 Vein stockpile. 2016 Annual Information Form  Page 57   The final database was sent to Micon in early March, 2011 for
validation. Micon performed a thorough validation of the database and
specifically performed a cross-check validation of the assay table against assay
results received directly from the laboratories in electronic form. The
cross-check validation of the assay table described above was possible only for
the newer PC Gold-generated data which contained laboratory sample
identification numbers. Several minor problems were found and corrected, most of them
located out of the modelled zones. The problems were related to the fact that
the majority of the database was collected from historical data digitized from
old paper logs. It is Micons opinion that PC Gold is running an industry
standard QA/QC program for its database and insertion of control samples into
the stream of core and channel samples for the Pickle Crow project exploration
program. While certain minor discrepancies in survey data of old
workings have been noted it has been determined they will only affect the
precise location in space of the workings and are not likely to materially
affect the estimate of remaining volumes of mineralization. As such they are
suitable for use in an inferred resource estimate. Determination of measured and
indicated resources or reserves in the future will require resolution of these
minor discrepancies, likely by dewatering and reaccessing the workings. The historic drill data have been shown to be acceptable for
use in a mineral resource estimate with appropriate application of assay top
cuts as discussed above. Mineral processing and metallurgical
testing The historic ore produced at the Pickle Crow mine presented no
major milling problems. Pickle Crow Mill, 1935-1966: The long since removed
process plant for the Pickle Crow mine ran from 1935 to 1966. The 400 ton/day
(360 t/d) mill recovered gold by a combination of gravity/amalgamation and
cyanidation. Overall gold recovery averaged slightly over 98%. When the mine
closed in 1966 efficiency in the gravity section had been improved to achieve as
much as 60% of the total recovery. 1999-2002: In October 1999, prior to mining the first of
two bulk samples, grab samples were collected from the surface exposures of the
No. 5 Vein. These samples were sent to ORTECH Inc. of Mississauga, Ontario for
bottle roll leach tests. The bottle roll tests were conducted on minus 8
material assaying 53.2 g/t Au, and minus 100 mesh material assaying 40.04 g/t
Au. After 48 hours, 53.5% and 95.4% recoveries were achieved for the minus 8 and
minus 100 mesh fractions respectively. No. 5 Vein Crown Pillar Bulk Sample: In December 1999, a
bulk sample from the No. 5 Vein crown pillar was mined and sampled, estimated to
contain 9,500 tons (8,600 tonnes) averaging 0.38 oz./t Au (13.02 g/t Au)
assuming a 3.0 ft. (0.91 metre) minimum mining width; cut to 1 oz./t and 25%
diluted. The average grade of the resource block was determined using a weighted
average 9 drill hole and channel samples located inside the block. The bulk
sample was carefully mined from a small open pit, with vein material comprising
an estimated 95% and wall rock dilution only 5% of the sample. The bulk sample
was shipped to the St. Andrews Goldfields Ltd. 1,300 t/day CIP (carbon-in-pulp)
gold process plant located at Stock Township near Timmins, Ontario for custom
milling. The shipment was processed on December 21, 1999. The commercial
settlement was agreed upon at a recovered grade of 16.72 g/t Au (0.49 oz./t Au). No. 1 Vein Crown Pillar Bulk Sample: A second phase of
bulk sampling was initiated in 2000. 4,427 tonnes of material (over 90% from the
No. 1 Vein) were trucked to the Golden Giant mill near Hemlo, Ontario for custom
milling. The custom milling flowsheet included secondary crushing, grinding,
gravity concentration, leaching, CIP, stripping, electrowinning and refining.
The shipment was processed between December 4 and 10, 2000. The commercial
settlement was agreed upon at a recovered grade of 16.72 g/t Au (0.49 oz./t Au).
Prior to accepting the Pickle Crow Property bulk sample, laboratory
metallurgical tests were completed to determine if the material could be treated
at the mill and if the tailings produced would have a negative environmental
impact on the tailings basin. No environmental problems were noted. The test
work indicated that about 40% of the gold was recoverable with a single pass
gravity Knelson concentrator. The remaining gold could be easily leached with
cyanidation with an optimum grind of 75% passing 200 mesh. Test work indicated
that higher grinds could result in lower gold recoveries. Leach retention times
of greater than 48 hours might be required. An overall recovery of 98.4% was
achieved in the tests. 2016 Annual Information Form  Page 58   No. 1 Vein Crown Pillar Bench Scale GRG & Leaching Test
  work: A set of five approximately 20 kg samples from the No. 1 Vein Crown
  Pillar bulk sample were submitted to the Knelson Research and Testing Centre
  (KRTC) in Langley, British Columbia for gravity-recoverable-gold
  (GRG) and leaching testwork. These samples were sent from the Golden
  Giant mine. The samples were received at the KRTC facility on July 3, 2001. The
  samples were weighed and logged prior to any processing. The primary objective
  of this test work was to quantify the gravity recoverable gold content of the
  ore using a standard test. The secondary objectives were to determine the
  average head grade of the sample and to perform cyanide leach tests on
  sub-samples of the final tails. A KC-MD3 laboratory scale Knelson Concentrator
was utilized for the GRG test work. The procedure used for the KC-MD3 stage test was as follows: 
    The samples were sorted by time and date into lots of
      approximately 20 kg.
    Each sample was screened at 10 mesh prior to the first
      pass through the KC-MD3 in order to prevent plugging. The oversize was
      saved and subsequently added into the first grind.
    The ~20 kg test samples were processed through a 3
      Laboratory Knelson Concentrator at a fluidization water flow rate of ~3.5
      litres/min and at 60Gs.
    During the test, sub-samples of the tailings stream were
      collected for assays.
    At the end of the concentration stage, the concentrate
      was washed from the inner cone of the KC-MD3.
    The concentrate was panned to produce a pan concentrate
      and pan tailings (middlings) sample.
    The concentrate and tailings samples were labelled,
      dried, weighed and sent to an independent local lab for assaying.
    The tailings were re-ground two more times and steps 3 to
      6 were repeated after each grind.
    During the final stage, an additional 2 kg sample of the
      tails was sub-sampled, dried and sent for cyanide leach test work.
    The remaining tails samples are being stored at the test
      facility. This testing scheme is based on the philosophy that progressive
size reduction allows the determination of gold liberated at finer grinds
without over-grinding and smearing coarse gold present in the initial sample. Results indicate that the No. 1 Vein crown pillar samples have
a very high gravity-recoverable gold content of 91.2% with a back-calculated
head grade of 20.0 g/t Au. The overall mass pull to the concentrate was 1.4% .
The results indicate that the gold is fairly liberated in this particular
material and is readily recoverable. Visible gold was observed in all final
concentrate samples. Cyanide leaching was performed on sub-samples of the final GRG
test tails. The gold recoveries from leaching ranged from 93.5% to 95.4% .
When the leach recoveries are combined with the gravity stage recoveries, the
overall recoveries exceed 99% for all samples. The final tailings assays were
very low ranging from 0.09 to 0.11 g/t Au. Based on the encouraging bench scale
GRG test results on the No. 1 Vein crown pillar it was decided to commission the
construction of a 225 tonne per day (~250 t/d) extreme gravity gold mill at
Pickle Crow. 2016 Annual Information Form  Page 59   The concept of extreme gravity is a series of innovations
that have resulted in a reintroduction of gravity recovery systems into the
milling operations of most gold mines. Traditionally, most gold milling circuits
are designed around flotation and cyanidation requirements, with the gravity
circuit being fit in where possible. Extreme gravity takes the approach of
optimizing the circuit in order to maximize recovery by gravity. In some cases
gravity systems can achieve high enough recoveries to eliminate the need for
chemical systems such as cyanidation and flotation. The benefits of extreme gravity include relatively low capital
costs compared to conventional gold mills, reduced permitting, short project
lead time, and much reduced environmental issues with no use of cyanide or other
chemicals. In addition small plants can be modular and easily moved between
locations. Pickle Crow Tailings Bench Scale GRG & Leaching Test
work: In September 2001, a composite sample from Tailings Area 1 was
submitted to Lakefield Research of Lakefield, Ontario for cyanide leach test
work. The sample, a blend of oxidized (10%) and unoxidized (90%) tailings, was
leached for 48 hours. In May-June, 2002, a set of two approximately 8 kg
composite samples from Tailings Area 3 were subjected to gravity recoverable
gold and cyanide leach test work. Composite A was made up of auger drill hole
sample material assaying >0.3 g/t Au and composite B material assaying
<0.3 g/t Au. The GRG test work was performed by the Knelson Research and
Testing Centre in Langley, British Columbia and leach tests were conducted at
Accurassay of Thunder Bay, Ontario. We have completed no additional metallurgical test work as of
this date. Mineral resource estimates The resource estimate in the Pickle Crow Technical Report
represents the first mineral resource estimate on the Pickle Crow Property that
was completed in accordance with NI 43-101. The Pickle Crow project resource
estimate is divided into three distinct areas within the core mine trend
comprising three mineralization styles, high grade narrow veins, iron
formation-hosted and alteration-shear zone-hosted gold mineralisation. The mineral resources were estimated using kriging, where
variograms could be modelled, and inverse distance cubed interpolation
elsewhere. Based on the use of historic drilling and the somewhat imprecise
modelling of the underground workings, the resources have been classified as
inferred under the CIM guidelines. The resources were reported using a Whittle
optimized pit shell or at underground cut-off grades. The resulting estimate of inferred mineral resources for the
Pickle Crow project is presented in Table A below. Table A - Estimated Inferred Mineral Resources for the
Pickle Crow Project Pickle CrowMine
    Category
    Grade (g/t Au)
    Tonnes
    ContainedOunces
    Cut-off Grade(g/t Au)
    Percentage ofTotal OuncesTotal
    Underground
    5.4
    6,522,000
    1,136,000
    2.25*
    90Total
    Open Pit
    1.1
    3,628,000
    126,000
    0.35
    10Grand Total
    
    3.9
    10,150,000
    1,262,000
 * Represents a combination of potentially bulk mineable
underground resources (2.0 g/t Au cut-off) and cut-and-fill underground
resources (2.8 g/t Au cut-off, with vein intersections diluted to a minimum of 1
m). Notes: 1.
    The mineral resource estimate is entirely classified as
      inferred mineral resources.2.
    CIM Definition Standards were followed for mineral
      resources.3.
    The cut-and-fill (high-grade vein) underground component
      of the mineral resource has been estimated at a cut-off grade of 2.8 g/t
      Au over a minimum width of 1 m. Vein widths less than 1 m were diluted to
      1 m prior to application of the 2.8 g/t Au cut-off grade. Grade and tonnes
      for the cut-and-fill component of the mineral resource are reported as
      diluted grade and tonnes.4.
    The long-hole bulk underground (moderate-grade) component
      of the mineral resource has been estimated at a cut-off grade of 2.0 g/t
      Au.5.
    The open pit (low-grade) component of the mineral
      resource has been estimated at a pit discard cut-off grade of
      approximately 0.35 g/t Au, using a preliminary Whittle pit shell to
      constrain the resource estimate and other assumed pit
parameters.6.
    The open pittable mineral resource extends to a depth of
      approximately 150 m below surface. Only mineralization located within the
      pit shell has been reported at open pit cut-off
grades. 2016 Annual Information Form  Page 60    7.
    The mineral resource has been estimated using a gold
      price of US$1,100/oz.8.
    High-grade assays have been capped. Each domain was
      capped with respect to their unique geology and statistics. Caps for cut
      and fill (high-grade vein) underground resources range from 35 g/t to 145
      g/t Au.9.
    Specific Gravity (bulk density) of 3.14 t/m3was used for BIF and 2.70 t/m3was used for
  veins.10.
    The mineral resource was calculated via block model.
      Three dimensional wireframes were generated using geological information.
      A combination of kriging and inverse distance estimation methods were used
      to interpolate grades into blocks of varying dimensions depending on
      geology and spatial distribution of sampling.11.
    Mineral resources that are not mineral reserves do not
      have demonstrated economic viability. There is currently insufficient
      exploration to define these inferred resources as an indicated or measured
      resources and it is uncertain if further exploration will result in
      upgrading them to an indicated or measured resource category.12.
    Mineral resources have been adjusted for mined out areas.
      Small rib and sill pillars around old stopes have not been
    considered.13.
    Numbers may not add due to
rounding. Considering that a combination of current drilling, historic
drilling and underground chip samples were used in the resource estimation, no
particular common sample grid exists. There also exists a known minor error in
terms of sample location and the accuracy of the digitized underground workings.
However, even though these known inaccuracies exist, the grade and tonnage
discrepancy caused by this margin of error is within reasonable doubt for an
inferred resource and the estimate is reported as such. Recent activities In November 2016 we commenced a diamond drilling program at our
Pickle Crow Project with a focus on identifying new high-grade vein gold
mineralization. In February 2017, we announced the results of this exploration
drilling program. A total of nine holes comprising approximately 1,300 m were
drilled. The drill program targeted several shallow, high-grade vein and
banded iron formation hosted targets in the core mine trend. The objective of
the program was to test extensions of known vein zones and discover new
high-grade gold mineralization. Highlights of Fall 2016 Drilling at Pickle Crow: 
    Hole PC-16-306 intersected 1.28 g/t over 12.70
      m including 15.14 g/t over 0.70 m in the middle vein zone of the No. 15
      Vein.
    Visible gold was intersected in Hole PC-16-306
      in the lower vein zone of the No. 15 Vein. Gold mineralization was encountered in seven of the nine drill
holes and visible gold was intercepted in the lower most vein zone of the No. 15
Vein structure. A 0.30 m section of drill core from the lower vein zone which
included the visible gold was not assayed as it was retained for display
purposes, hence the reported intercept of 1.15 g/t gold over 8.19 m excludes
this interval and the 0.30 m section was included at zero grade. 2016 Annual Information Form  Page 61   Drill Hole Intercepts from Fall 2016 Drilling at Pickle
Crow: Hole ID
    Area
    Description
    From (m)
    To (m)
    Interval (m)
    Au g/tPC-16-302
    Shaft 3 (No. 19 Vein up dip)
    No Significant AssaysPC-16-303
    Shaft 3 (PC-103-083 Vein up dip)
    No Significant AssaysPC-16-304
    Albany (PC-09-051 Vein)
    Shear zone
    106.5
    107.0
    0.5
    1.57PC-16-304
    
    Zone, QFP
    129.0
    135.7
    6.7
    0.36PC-16-304
    
    Including
    133.5
    134.7
    1.2
    1.18PC-16-305
    Albany (PC-09-051 Vein)
    Zone, Vein
    53.3
    53.8
    0.5
    1.62PC-16-305
    
    Zone, QFP & MV
    125.6
    149.4
    23.8
    0.53PC-16-305
    
    Including
    137.1
    140.1
    3.0
    2.53PC-16-305
    
    Zone, QFP
    160.9
    162.0
    1.1
    0.71PC-16-306
    No. 15 Vein
    Upper No. 15 Vein
    71.3
    78.0
    6.7
    0.59PC-16-306
    
    Including
    74.3
    75.0
    0.7
    3.53PC-16-306
    
    Middle No. 15 Vein
    82.0
    94.7
    12.7
    1.28PC-16-306
    
    Including
    83.2
    84.4
    1.3
    1.20PC-16-306
    
    Including
    88.8
    89.5
    0.7
    15.14PC-16-306
    
    Including
    92.0
    93.0
    1.0
    1.72PC-16-306
    
    Lower No. 15 Vein
    110.4
    118.6
    8.2
    1.15PC-16-306
    
    Including
    113.0
    114.0
    1.0
    2.66PC-16-306
    
    Including
    116.0
    117.8
    1.8
    2.63PC-16-307
    Crowshore
    Zone, BIF
    34.7
    37.2
    2.5
    0.34PC-16-307
    
    Shear zone
    96.4
    98.0
    1.6
    0.51PC-16-307
    
    Shear zone
    101.9
    103.3
    1.4
    0.70PC-16-308
    Crowshore
    Zone, BIF
    20.1
    21.4
    1.3
    0.28PC-16-309
    No. 15 Vein
    Upper No. 15 Vein
    86.6
    90.1
    3.5
    0.14PC-16-309
    
    Shear zone
    106.1
    108.6
    2.5
    0.58PC-16-309
    
    Shear zone
    115.0
    121.4
    6.4
    0.12PC-16-310
    Sawmill Vein
    Zone, BIF
    37.5
    42.0
    4.5
    1.34PC-16-310
    
    Zone, BIF
    49.0
    52.5
    3.5
    0.34
 All assays were performed by Accurassay Laboratories of
Thunder Bay, Ontario. Samples were analyzed by using 50 g fire assay with an
atomic absorption finish. Samples greater than 10 g/t or with visible gold were
analyzed by 1,000 metallic analysis with a gravimetric finish. All assays
reported are uncut. Reported widths are drilled core lengths, and true widths
are unknown at this time. Accurassay Laboratories is independent of First Mining
and has no relationship with First Mining. QA/QC Procedures NQ diameter (47.6 mm) drill core was logged then sawn in half
on-site, with one half bagged and labelled and the other half placed in core
boxes to serve as a permanent record and stored in a secure on-site facility.
All samples were shipped from the site via Manitoulin Transport to the
Accurassay Laboratories facility in Thunder Bay, Ontario, for crushing,
pulverization and pulp preparation. Accurassay Laboratories is independent of
First Mining and has no relationship with First Mining. All samples sent for analyses were prepared using a jaw
crusher, which is cleaned with compressed air between samples, resulting in 70%
of the sample passing through a 10 mesh screen. A 1,000 g split of the crushed
sample was then pulverized with 85% passing through a 200 mesh screen. Fire
assays were performed using 50 g of sample with assays equal to or greater than
5 g/t calculated gravimetrically, and lower grade samples measured by atomic
absorption (AA). All samples greater than 10 g/t were additionally sent for
screen metallics analysis using the remainder of the pulp (~950 grams of
sample). Blanks, standards (one high-grade, one mid-grade, and one low-grade),
field duplicates (1/4 split cores), and crush duplicates were inserted into the
drill core samples sequentially, at least every 8th sample, before
shipment. Standards consisted of a high-grade (~13 g/t Au), a mid-grade (~5 g/t
Au), and a low-grade (~1 g/t Au) gold standard from Geostats Pty. Ltd. of
Fremantle, Western Australia, as well as blanks from Nelson Granite of Kenora,
Ontario. 2016 Annual Information Form  Page 62   Hope Brook Technical report This description of the Hope Brook Property project (the
Hope Brook Project) is based on the projects technical report: 2015
Mineral Resource Estimate Technical Report for the Hope Brook Gold Project,
Newfoundland and Labrador, Canada(effective date January 12, 2015, report
date November 20, 2015) (the Hope Brook Technical Report). The report
was prepared for us in accordance with NI 43-101, by or under the supervision of
Michael P Cullen, P.Geo.; a qualified person within the meaning of NI 43-101.
The following description has been prepared under the supervision of Chris
Osterman, P.Geo. who is a qualified person within the meaning of NI 43-101, but
is not independent of us. The conclusions, projections and estimates included in this
description are subject to the qualifications, assumptions and exclusions set
out in the Hope Brook Technical Report, except as such qualifications,
assumptions and exclusions may be modified in this AIF. We recommend you read
the Hope Brook Technical Report in its entirety to fully understand the project.
You can download a copy from our SEDAR profile (www.sedar.com), or from
our website (www.firstminingfinance.com). Property description, location and
access The Hope Brook Project is located on the southwest coast of the
island of Newfoundland, in the province of Newfoundland and Labrador, Canada. It
is comprised of a core holding of 993 contiguous exploration claims acquired
through map staking and issued in 2003 and 2008. This main property covers
24,825 ha of surface area and measures approximately 32 km by 12 km in maximum
east-west and north-south dimensions, respectively. Constituent claims are held
under 7 separate licenses and the property is approximately centered on the
past-producing Hope Brook gold mine, located at Latitude 47.738° north and
Longitude 58.095° west. An additional 63 claims (1575 ha) are held by us in the
Peter Snout area, approximately 25 km northeast of the Hope Brook deposit and 10
claims (250 ha) in the Cross Gulch area, approximately 6 km north of the
deposit. These were staked in late 2013 and early 2015, respectively, to cover
areas of exploration potential defined through review of government assessment
reporting records. The Hope Brook Project is located approximately 85 km by water
east of the community of Port aux Basques and is not accessible by any form of
highway transportation at this time. Direct site access to the Hope Brook
Project can be gained by chartered boat from either the Burgeo or Port aux
Basques areas and could also be gained through small boat charter from La Poile,
after travel to that community on the coastal service vessel. The most efficient
means of current access to the property is by charter fixed wing aircraft or
helicopter from commercial bases in the Deer Lake- Pasadena area, approximately
120 km to the north. Coastal Gold earned a 100% interest in 993 claims of the
original Hope Brook Project property by fulfilling requirements of an option to
purchase agreement dated January 25, 2010. As of the date of the Hope Brook Technical Report, two
exploration permits by the government of Newfoundland and Labrador were required
for bedrock core drilling and vibracore tailings drilling programs as well as
geochemical and geophysical surveys, valid until April 15, 2015 and June 17,
2015, respectively. It is anticipated that new permits will be required if we
chose to initiate certain site-based aspects of the Phase I or Phase II work
programs recommended in the Hope Brook Technical Report. In addition, the
License to Occupy for the Hope Brook exploration camp was being reviewed by
government at the effective date of the Hope Brook Technical Report, with timely
issuance expected. No substantive difficulties have been encountered to date
with respect to procurement of required Exploration Permits and camp occupancy
permissions. A 2% net smelter returns royalty payable applies under terms of
a royalty pre-payment schedule of $20,000 per year. All royalty pre-payment
funds provided under the agreement are to be accounted for against future
production. We retain a right during the term of the agreement to purchase one
half of the 2% NSR royalty for $1,000,000. Annual work requirements for each claim are set out under the
provinces Mineral Act and range from $200 per claim in year one to $1,200 per
claim in years 16 through 20. In addition, a renewal fee of $25  $100 is
payable for each claim on a five year basis. 2016 Annual Information Form  Page 63   As part of the 2011 work program a screening level assessment
of baseline environmental conditions was carried out at the Hope Brook Property.
Results of this study showed that a number of chemical impacts that are residual
to the former mining operation are present locally. These include elevated metal
levels in soil, sediment and water as well as elevated petroleum hydrocarbon
levels in soil. The most significant liabilities were deemed to be associated
with subsurface conditions where impairment to both soil and groundwater had
occurred around existing landfill sites, the heap leach pad, and within the
underground mine workings. All of these conditions pre-date Coastal Gold site
activities and therefore we are excluded from associated liability. However, if
a new mining venture is established at this site it will be necessary to fully
quantify the potential impacts of such conditions on site development, mining
and site decommissioning and reclamation plans for the new operation. All such
issues would be dealt with under the mine permitting and associated
environmental approval processes. History Documentation of Hope Brook Project areas history of
exploration and mining spans the period between 1923 and the present day, but
modern programs directed toward assessment of gold potential and related mining
have only occurred since discovery of the Hope Brook gold deposit in 1983. Programs of deposit definition drilling, resource estimation,
metallurgical assessment and feasibility assessment were completed for the Hope
Brook deposit between 1984 and 1986 and a production decision was announced in
1986. The deposit was subsequently developed and mined during the period of 1987
through 1991. The production decision appears to have been supported by initial
resources of 11.2 million tonnes grading 4.54 g/t Au above a 2.5 g/t Au cutoff
(~1.6 million troy ounces) that were reported. Additionally, the same tonnage
and gold grade was separately reported for the deposit but additionally
specified a 0.3% copper parameter. Mining from both open pit and underground operations was
ultimately carried out between 1987 and 1997. Provincial government records
document production of 304,732 ounces of gold during the 1987-1991 period from
all operations. Difficulties with elevated cyanide and copper levels were
encountered in processing plant effluent during the operating period and this
may have contributed to cessation of mining and milling in early 1991. During the 1987-1991 mining period, detailed exploration focus
was largely restricted to the mine area and adjoining advanced argillic
alteration zone (AAZ) areas to the southwest, with particular attention
paid to assessment of possible strike and dip extensions of the main deposit. From 1991 to mid-1997, underground mining at the site was
carried out. Operations ceased in mid-1997. Production of 447,431 ounces of gold
was recorded during the 1992-1997 period. Re-assessments of past exploration
programs was carried out in both the mine area and surrounding district and
follow-up exploration on several promising areas not associated with the AAZ and
the Hope Brook deposit trend was completed. No substantial new discoveries were
made during this period. During the period 2002 through 2007 the provincial government
carried out environmental assessment and reclamation programs at the Hope Brook
mine site. No mining activities have been carried out subsequent to those of
carried out from 1991 to 1997. No drilling-based exploration programs were completed on the
Hope Brook Project through the period 1997 through 2007. However, in 2003 mine
area exploration holdings were staked by related entities. Beginning in 2008, an airborne magnetometer and electromagnetic
survey of the entire property was carried out, past drilling results were
compiled, prospecting was carried out and an extensive bedrock sampling program
was completed. Sampling was substantially focused in an area immediately
northwest of the Hope Brook open pit where alteration zone and silicified zone
units occurring structurally below the mined Hope Brook deposit had been exposed
during removal of acid generating waste rock during the site reclamation
program. No substantial new discoveries resulted from any of this work. Since the start of exploration work in 2010, Coastal Gold
carried out programs of drill core physical properties investigation, ground
geophysics, environmental screening, data compilation, data validation, core
drilling, vibracore tailings drilling, bedrock and tailings mineral resource
estimation, metallurgical assessment and general property evaluation. 2016 Annual Information Form  Page 64   From April 2010 through December 2014, Coastal Gold completed
systematic gold exploration programs, primarily focused in the area surrounding
the past producing Hope Brook mine. Geological setting, mineralization and
deposit types The Hope Brook Property occurs within a tectonically complex
zone that has been interpreted by some to occur within the Avalon Zone of the
Appalachian Orogen (or a related Avalon Composite Terrane), near its generally
east-west trending tectonic contact with adjacent rocks of the Dunnage Zone. The
Avalon Zone represents a late Neo-Proterozoic assemblage of active plate margin
sequences that accumulated prior to development and closure of the Lower
Paleozoic Iapetan Oceanic system. Sequences of Avalonian affinity occur
throughout much of the Appalachian Orogen, and extend from the Avalon Peninsula
and southwest coast areas of Newfoundland, through Nova Scotia, New Brunswick
and northern New England. From that point southward, more discontinuously
distributed outcropping segments occur as far as northern Georgia and subsurface
extensions are interpreted to be present in Florida. Onshore exposures of
confirmed Avalon Zone affinity are limited in comparison with its interpreted
width of at least 600 km in the eastern offshore area of Newfoundland and
Labrador. The geological aspects of the Avalon Zone, particularly in
context of magmatic history represented in the Newfoundland, consist of four
major tectono- stratigraphic events. Most significant of these from the
perspective of magmatic activity is the period when substantial volumes of
volcanic and plutonic rocks evolved under back-arc or continental arc settings,
sometimes in broad association with terrestrial or marine siliciclastic
sequences. These are related in time with development of auriferous, high level
hydrothermal alteration systems along the entire length of the Avalon Zone and
the Hope Brook gold deposit may be an example of this metallogenic association. The Hope Brook gold deposit and associated AAZ are of primary
importance with respect to the Hope Brook Project. However, several other
bedrock gold occurrences are present within the Hope Brook Project that differ
from Hope Brook. The most prominent examples of such are those in the Old Mans
Pond, Phillips Brook and Cross Gulch areas. Each of these areas has been
investigated through historic exploration programs that typically included
geological, geophysical and geochemical surveys, surface trenching and limited
amounts of core drilling. Drilling has locally confirmed subsurface gold-bearing
intervals in each area but mineralized zones of economically significant
proportions have not been defined to date. The Hope Brook style of
mineralization is considered to be most important. The Hope Brook gold deposit
is a large, disseminated gold-chalcopyrite-pyrite deposit hosted by highly
altered sedimentary and volcano-sedimentary rocks of the late Proterozoic
Whittle Hill Sandstone and Third Pond Tuff successions, similarly altered felsic
porphyry dikes and sills related to the Roti Intrusive Suite and variably
altered later mafic dikes and sills. Zones hosting gold mineralization of
economic interest typically bear evidence of intense silicification and occur
within the AAZ, a broad envelope of advanced argillic alteration that can be
traced for up to 8 km southwest of the deposit. The Hope Brook gold deposit is currently one of the largest
gold deposits in the Canadian Appalachians, based on historic resources and
production. As noted earlier, it occurs within a zone of extensive AAZ hosted by
late Proterozoic sedimentary, volcanic and intrusive rocks. Recent work by
Coastal Gold has added to the technical documentation of alteration and
mineralization that characterize the deposit. Intense hydrothermal alteration
and spatially associated silicification have been identified as key components
of the mineralizing system that gave rise to the deposit. However, differences
exist with respect to interpreted placement of the Hope Brook mineralizing
system in the time/space context of the orogeny and some of these bear directly
on deposit classification. In addition to the Hope Brook deposit, several gold occurrences
associated with Silurian or younger sericitic alteration, quartz veining and
silicification have also been documented within the Hope Brook Project area.
None of these is substantial in size or gold grade as presently defined, but
spatial association with the large Bay dEst Fault or its secondary splays, and
possibly with Silurian magmatic activity, indicates that potential for more
significant mineralization is present. Exploration No new exploration work has been undertaken to date by us on
the Hope Brook property. The Hope Brook Technical Report and associated mineral
resource estimate review reflect the first NI 43-101 technical reporting by us
for the Hope Brook property. 2016 Annual Information Form  Page 65   Drilling Between September 2010 and October 2013, Coastal Gold completed
in five separate drilling programs 139 diamond drill holes and drill hole
extensions on the Hope Brook Property that total 39,320.4 m of drilling. Coastal Gold completed 10 surface diamond holes totalling
3,421.9 m in length between September 2010 and January 2011 which successfully
confirmed the presence of disseminated gold-chalcopyrite-pyrite mineralization
hosted by highly silicified sedimentary and volcano-sedimentary rocks both at
depth, below the 4800 level of historic mining, and at surface to the southwest
of the historic open-pit. An exploratory drill hole targeting mineralization
along the northeast extension of the mine at depth returned no significant
results and an exploratory drill hole targeting the 240 Zone caved short of the
target. Another surface drilling campaign was completed between
February 2011 and December 2011 that consisted of 67 holes totalling 21,350.5 m.
The program was successful in demonstrating continuity of disseminated
gold-chalcopyrite-pyrite mineralization hosted by highly silicified
volcano-sedimentary rocks in all three targeted areas of drilling and provided
the drill hole density required for resource estimation. Between February 2012 and May 2012 Coastal Gold completed a
surface drill program that consisted of 15 holes, re-drills and hole extensions
totalling 4,549 m in length. This program focused on confirming the locations of
workings and major pillars in the mine area, further testing of the Southwest
Extension target area and preliminary testing of the Northeast target area. The fourth Hope Brook drilling program by Coastal Gold began on
November 3, 2012 and was completed on December 21, 2012. A total of 5,923.9 m of
drilling in twenty-one drill holes were completed. Six separate targets areas,
along a 3.4 km long mineralized trend, were drilled during the program including
the Stope 4960-150, the 240 Zone  Mine Zone Connector Target, the Chetwynd
Prospect and the Chetwynd South Prospects, the Chetwynd to 240 Connector Target
and the NW Target Area. The drilling was completed in these areas in order to
continue to expend on the area of known gold mineralization outside of the
current Hope Brook Deposit area. The fifth drill program at the Hope Brook Property began on
August 9, 2013 and was completed on October 10, 2013. A total of 4,075.2 m of
drilling in twenty-six drill holes were completed. The drill program was
designed to test two major target areas; the Footwall Target and SW Pit
Extension Target. A systematic vibracore tailings drilling program on two tailing
ponds at the Hope Brook site was carried out during the September through
October period of 2013 and a total of 73 vibracore drill holes totalling 155 m
were completed on an approximate 100 m square grid over the two tailings ponds.
The purpose of the program was to evaluate the thickness and gold grade of the
tailings and to provide sufficient data to support a NI 43-101 compliant mineral
resource estimate of the contained gold and copper. Of the holes completed, 51
successfully sampled tailings, with thicknesses of the tailings sections ranging
from 0.3 to 6.0 m. Average thickness of cored tailings was 3.0 m. Sampling, analyses and data verification Coastal Gold staff members were responsible for arranging
transport of core boxes from the drilling sites to the companys secure core
storage and logging facility located at the Hope Brook camp. The core was
initially examined by core technicians and all measurements are confirmed. Core
was then aligned and repositioned in the core box where possible and individual
depth marks are recorded to facilitate logging. Core technicians photographed
all core, measured core recovery between core meterage blocks, carried out water
immersion specific gravity measurements as required and recorded information on
hard copy data record sheets that were then entered into the project drilling
database. All paper copy and digital information for each hole, including
quick logs, sample record sheets and assay certificates were maintained in a
secure filing system at the site to provide a complete archival record for each
drill hole. Digital information was stored on a local server as well as on the
companys secure off-site server that was accessible by satellite link from the
camp facility. Subsequent to logging and processing, down hole lithocoded
intervals, sample intervals and drill hole collar and survey information that
were entered into the digital database were checked for completeness before
being uploaded to the project database upon which drilling section generation
and three dimension deposit modeling were based. 2016 Annual Information Form  Page 66   The secured plastic sample bags were grouped in batches 40 to
which QA/QC program samples were added prior to final packing for shipment to
the ALS preparation laboratory in Sudbury, ON. Samples were transported from the
site by aircraft or chartered boat and then delivered to a commercial transport
service for final delivery to the laboratory. Sample shipment change of custody
forms were used to list all samples in each shipment and laboratory personnel
crosschecked samples received against this list and reported any irregularities
by fax or email to Coastal Gold. Primary project analytical work was completed by ALS with
preparation taking place at ALS Sudbury, ON facility and subsequent analysis at
the facility in Vancouver, BC. ALS is an internationally accredited laboratory
with National Association of Testing Authorities certification and also complies
with standards of ISO 9001:2000 and ISO 17025:1999. The laboratory utilizes
industry standard analytical methodologies and rigorous internal Quality
Assurance and Quality Control (QA/QC) procedures for self-testing. All Hope Brook Project core samples were weighed upon receipt
at the ALS preparation laboratory and prepared using ALS preparation procedure
PREP-31B that consists of crushing the entire sample to >70% -2 mm, then
splitting off 1 kg and pulverizing it to better than 85% passing 75 microns
size. The coarse reject materials from this processing were stored for future
use. Gold concentrations for submitted core and rock samples were
determined by ALS using a 50 g sample split and fire assay pre-concentration
methods followed by atomic absorption spectroscopy finish (FA-AAS). This is
reflected in ALS code Au-AA24. A 33 element analysis was also completed on
selected samples by method code ME-ICP61 which denotes four acid digestion
followed by inductively coupled plasma  atomic emission spectroscopy (ICP-AES)
analysis. Drill core sampling carried out by Coastal Gold during the
September 2010 through July 2012 period on the Hope Brook Property was subject
to a QA/QC program administered by Coastal Gold. This included submissions of
blank samples, use of certified reference materials and analysis of pulp and
coarse reject check sample splits at a third party commercial laboratory. The 2012 piston sampling program and 2013 vibracore drilling
program of historic Hope Brook Property mine tailings deposits were also subject
to a systematic QA/QC program carried out by Coastal Gold. All of the drill core programs for the period from October 2012
through to November 2013 were subject to essentially the same QA/QC protocols as
had been applied to the earlier core drilling campaigns referred to above. This
included systematic submission of blank samples, use of certified reference
materials and analysis of pulp and, for core, coarse reject check sample splits
at a third party commercial laboratory. Results of both the in-house and
laboratory quality control and assurance analyses were monitored by Coastal Gold
on an on-going basis and were also made available for review by Mercator
Geological Services Limited (Mercator). A QA/QC protocol was also
established for the vibracore drilling program and this included systematic
analysis of certified reference materials, duplicate sample splits, blank sample
materials and analysis of third party pulp split check samples. The drill core samples were packaged in batches of 40 samples,
which included one blank sample (10th sample), one pulp duplicate
(20th sample), one certified reference material sample
(30th sample) and one coarse reject duplicate sample (40th
sample). ALS provided primary analytical services for the project while pulp
duplicate (20th sample) and coarse reject duplicate (40th
sample) splits were analyzed at SGS to provide independent laboratory check
sample data sets. SGS is a commercial, ISO certified laboratory independent of
Coastal Gold. After standard crushing and pulverization of bedrock core
samples, gold analysis was by atomic absorption methods after fire assay
pre-concentration and multi-element determinations were by inductively couple
plasma - optical emission spectroscopy methods after four acid total digestion.
One certified reference material sample and one blank sample were included in
the core sample shipment. The tailings samples were separately processed from
the core samples and were also accompanied by one certified reference material
sample and a blank sample. Results of the QA/QC program for these samples were
acceptable. Core sample records, lithologic logs, laboratory reports and
associated drill hole information for all drill programs completed were
digitally compiled by Coastal Gold staff and made available for previous
resource estimation purposes. Information pertaining to the exploration history
in the property area had already been compiled by Mercator and was reviewed in
conjunction with newly generated records to assess completeness, consistency and
validity of compiled results. This progressively compiled and validated
information is acceptable for resource estimation purposes. 2016 Annual Information Form  Page 67   Database records for previously validated historic drill holes
were modified by Coastal during 2013 through addition of copper analytical data
recovered from archival records. All such amendments were checked against source
documents by Mercator and through spot checks by AGP prior to use in the current
resource estimation program and no errors were noted. In addition to the above, records for 47 new diamond drill
holes completed by Coastal Gold during 2012 and 2013 were reviewed and validated
by Mercator for addition to the project database and used in the previous and
current resource estimation programs. Digital records were checked against
original source documents provided by Coastal Gold and both consistency and
accuracy of such records were assessed. Parameters reviewed in detail include
collar coordinates, down hole survey values, hole depths, sample intervals,
assay values and lithocodes. All 47 of the 2012 and 2013 holes completed by
Coastal Gold were checked for correlation of sample interval, assay value and
lithocode information against source documents. This review showed consistently
good agreement between original records and digital database values for all data
sets. In 2013, Coastal added 152 historical short core holes (OP
series holes) to the project database. These holes have not been validated by
Mercator and were excluded from use in the previous and current resource
estimates. After completion of manual checking procedures, all drill hole
database records were further assessed through digital error identification
methods available through the Gemcom-Surpac Version 6.2.1® software. This
provided a check on items such as sample record duplications, end of hole
errors, survey and collar file inconsistencies and some potential lithocode file
errors. The digital review and import of the manually checked datasets provided
a validated drill hole database to support the resource estimation program
described in the Hope Brook Technical Report. Coastal Gold completed several core drilling holes during the
2010-2011 drilling programs to serve as twins to historic holes. These were
typically planned to provide more complete lithological and assay information
for associated historic holes and to provide a basis for comparison of the
historic datasets with Coastal Gold data. For the purposes of the Hope Brook
Technical Report, 12 Coastal Gold holes that were completed in sufficiently
close proximity to historic holes to provide such assessment were selected for
comparison with the Coastal Gold data. For assessment purposes, Mercator reviewed drill log lithocodes
and gold assay entries for hole pairs to determine the level of consistency
between the two datasets. Assessment of lithocodes focused primarily on
identification of important silicified zone intervals associated with gold
mineralization and secondarily on logged intervals of mafic dike material.
Comparison of the assay data on a sample by sample basis was not typically
possible due to either spatial separation of hole traces, differing sample
lengths or presence of non-sampled intervals in some holes. Comparison of
lithocoded intervals between hole pairs showed that good correlation between
data sets exists. However, greater detail in silicic lithocoding characterises
the historic dataset prior to re-coding by Coastal Gold. As noted above, comparison of assay values between hole pairs
was affected in some instances by presence of un-sampled intervals within the
historic holes that contrast to continuously sampled Coastal Gold intervals, by
differing mafic material percentages and by differing interpreted assay zone
widths. Mercator focused on gold assay data within the gold-bearing silicified
zone lithologic units and created weighted average intervals to support
comparison. Results of this program for the 12 holes considered showed that
spatial definition of the gold zones based on assay boundaries is typically
consistent between hole pairs and this is reflected in generally comparable
intercept lengths selected. The weighted average Coastal Gold data set results are
typically higher than equivalent intervals in historic holes but the reverse is
also seen in some cases. Mercator believes that several factors contribute to
this result, including changes in mafic dike dilution between holes, higher
overall core quality of the NQ and BQTK size Coastal Gold core relative to the
historic BQ core, and higher overall core recovery for Coastal Gold holes in
fractured intervals of the mineralized zone. Heterogeneity of primary gold
distribution is also a potential contributor. Based on results of the twin hole comparison originally carried
out in support of earlier resource estimates, at the effective date of the Hope
Brook Technical Report Mercator remains of the opinion that acceptable
consistency exists between these hole pairs with respect to gold assay value and
lithocode data sets. 2016 Annual Information Form  Page 68   Mineral processing and metallurgical
testing Scoping level metallurgical test work on mineralized samples
was first carried out for Coastal by G&T Metallurgical Services Ltd.
(G&T) in Kamloops, BC in 2012. The objectives of that program were
to evaluate potential processing routes for maximizing gold recovery and to
identify operating parameters for the preliminary circuit design. Flotation test
work was successful at generating a concentrate grading 28% Cu from flotation of
cyanidation residue in a process similar to the historical flowsheet at Hope
Brook. Gravity concentration tests indicated that between 16 and 41% of the
contained gold was recoverable to concentrate by this method. Combined gold
recoveries of ~86% were achieved using a flowsheet consisting of gravity
concentration followed by cyanidation of the gravity tailings. Direct
cyanidation of tailings resulted in up to 49% extraction of contained gold. Additional metallurgical testing was carried out by G&T in
the fall of 2013 to further advance the understanding of the metallurgy of the
Hope Brook deposit. This included batch flotation test work focused on the
opportunity to recover a saleable grade copper concentrate after the grinding
and gravity recovery step. Scoping level test work was also carried out at Tomra
Sorting Solutions in Surrey, BC to evaluate the potential of rejecting dilution
material before the grinding area using sensor-based sorting. Sorting program
results indicated that the mafic dyke dilution was readily distinguished from
the mineralized rock using four separate detector systems, indicating that this
material is highly amenable to rejection by sorting. Mineral resource estimates The mineral resource estimate for the Hope Brook Project is
based on a three dimensional block model developed using Geovia  Surpac Version
6.1.1® deposit modeling software and a matrix size of 10 m (X) by 5 m (Z) by 3 m
(Y). Grade interpolation utilized multiple pass ordinary kriging methodology
with an inverse distance squared check model used for validation. Classification
of the resource followed the approach used in the 2014 NI 43-101 mineral
resource estimate and was based primarily on interpolation pass number, distance
to the closest informing assay composite and kriged variance. The 3 g/t Au
cut-off value used is substantially higher than cut off values of Coastal Golds
previous mineral resource estimates that were focused on optimization of open
pit mining scenarios. Current mineral resources are considered to have
reasonable potential for economic viability based on application of underground
mining methods, historic gold recovery levels that range between 80% and 91%
percent for past production (86% for Coastal Gold testing) and a long term gold
price of US$1,200 per ounce. This estimate of mineral resources may be
materially affected by environmental, permitting, legal, title, taxation,
socio-political, metal pricing, marketing, or other relevant issues. Hope Brook Deposit Mineral Resource Estimate  Effective
January 12, 2015 Gold Grade Cut-off(g/t)
    Resource Category
    Round Tonnes
      (Rounded)
    Gold Grade(g/t)
    Gold Ounces
      (Rounded)3.00 g/t
    Indicated
    5,500,000
    4.77
    844,000Inferred
    836,000
    4.11
    110,000
 Notes: 1.
    Includes only Mine Zone and 240 Zone areas.2.
    The above mineral resource estimate is based on a partial
      percentage block model with dike material removed. Dike percent is
      estimated at 18% for the Mine Zone and 0 % for the 240 Zone.3.
    Gold grades reflect application of domain-specific raw
      assay capping factors that range between 55 g/t Au and 3 g/t Au.4.
    Rounding of tonnes as may result in apparent differences
      between tonnes, grade and contained ounces.5.
    Mineral resources that are not mineral reserves do not
      have demonstrated economic viability. The estimate of mineral resources
      may be materially affected by environmental permitting, legal, title,
      taxation, sociopolitical, metal pricing, marketing, or other relevant
      issues.6.
    The gold cut-off value of 3.00 g/t reflects a reasonable
      expectation of economic viability based on application of underground
      mining methods, historic gold recovery levels that range between 80% and
      91% percent for past production (86% for Coastal Gold testing) and a long
      term gold price of US$1,200 per oz. 2016 Annual Information Form  Page 69   Non-material properties We also hold a number of non-material mineral properties as
part of our mineral bank portfolio. Some of these properties are resource-stage
assets which have NI 43-101 technical reports that support resources of less
than one million ounces of attributable gold. Others are grassroots exploration
projects that host mineralization but have not had sufficient drilling on them
to classify resources under the CIM definition standards. A brief summary of
these properties is set out in this section. Canada Duquesne Gold Project, Québec We acquired a 100% interest in the Duquesne Gold project
located in the Abitibi Region of Québec (the Duquesne Project) through
our acquisition of Clifton Star in April 2016. The Abitibi Region of Québec is
one of the most prospective and productive mineral regions in Canada with more
than 100 years of continuous mining history and hosts a number of major Canadian
mines. The property, which comprises 55 contiguous mining claims and
one mining concession, covers an area of 936 hectares and is situated along the
Destor-Porcupine Break, which boasts historical production of 192 million oz.
Au. It is approximately 30 km northwest of the city of Rouyn-Noranda, and
approximately 16 km east of the town of Duparquet, so it has excellent access to
infrastructure and a skilled labour pool. The Duquesne Project hosts an NI 43-101 Indicated Resource of
1.9 Mt grading 3.33 g/t Au, containing 199,000 oz. Au, and an Inferred Resource
of 1.6 Mt grading 5.58 g/t Au, containing 281,000 oz. Au. The technical report
in support of these resources, entitled 43-101 Technical Report Resource
Estimate of the Duquesne Gold Property, was prepared in accordance with NI
43-101 and was filed on SEDAR by Clifton Star on October 28, 2011 under its
SEDAR profile. Pitt Gold Project, Québec We purchased a 100% interest in the Pitt Gold project located
in the Abitibi Region of Québec (the Pitt Project) from Brionor in
April 2016. The property, which comprises 24 contiguous mineral claims, covers
an area of 384 hectares. The Pitt Project is close to our Duquesne Project, and to the
Duparquet Gold Project located in the Abitibi Region of Québec (in which we hold
an indirect 10% interest). It is approximately 35 km north of the city of
Rouyn-Noranda, and approximately 7 km east of the town of Duparquet, so it has
excellent access to infrastructure and a skilled labour pool. The Pitt Project hosts an NI 43-101 Inferred Resource of
1,076,000 tonnes grading 7.42 g/t Au (at a cut-off grade of 3.0 g/t Au),
containing 257,000 oz. Au. The technical report in support of these resources,
entitled NI 43-101 Technical Report and Audit of the Preliminary Mineral
Resource Estimate for the Pitt Gold Project Duparquet Township Abitibi Region,
Quebec, Canada, was prepared in accordance with NI 43-101 and was filed by us
on SEDAR on January 6, 2017 under our SEDAR profile. Duparquet Gold Project, Québec We have a 10% interest in the Duparquet Gold Project which has
a large open-pittable resource. 2016 Annual Information Form  Page 70   Lac Virot Iron Ore Project, Newfoundland Acquired through our acquisition of Coastal Gold, the Lac Virot
Property is located near the town of Labrador City in western Labrador. We own a
100% interest in 4 map-staked licenses with a combined 225 claims covering a
total area of 5,625 ha. The Lake Superior-type iron formation (LSTIF)
occurrences of the Lac Virot area lie in the Labrador-Quebec Fold Belt or
Labrador Trough, within the Sokoman Formation of the Lower Proterozoic
(Aphebian) Knob Lake Group. The project is in a strategic location surrounded by
four iron ore mines in the Southern Labrador Trough, and is close in proximity
to power, a multi-use railway and a deep sea port. A total of 11,713 m was
drilled in 42 holes during 2012 which focused on high priority targets
previously outlined by a 882 km gravity survey. Horseshoe Island Gold Project, Ontario Acquired through our acquisition of Gold Canyon, we hold a 100%
interest in the Horseshoe Island Gold Project, situated in the Archean
Birch-Uchi greenstone belt, and within the prolific Red Lake Mining District of
northwestern Ontario. The project is comprised of 14 claims covering 2,088
hectares. Gold Canyon previously completed an extensive MMI survey which
displayed that elongate, shear-related gold anomalies are widespread and may be
scattered along the entire 7 km length of the property. The surveys also
produced copper and zinc anomalies in VMS favorable environments. Historic
drilling has indicated the presence of nickel, platinum, and palladium in a
layered gabbro intrusive. The project has a long exploration history during
which time 24,138 m of drilling has been completed. Mexico Miranda, Sonora The Miranda gold property consists of three claims; Miranda,
Miranda 1 and La Arena covering 16,035 hectares in the Sonoran Desert within a
structural corridor called the Sonora- Mojave megashear (SMM trend). The SMM trend hosts several operating gold mines and deposits,
some of which exceed 10 million ounces of gold such as Herradura-Dipolos in
western Sonora, Mexico, and other smaller deposits; Mesquite (7 Moz. Au) and
Picacho in Arizona, and Chanate, San Francisco, and La Choya in Sonora, Mexico.
The Miranda property lies in the south-central part of the SMM trend, adjacent
to the San Felix and El Antimonio mining districts on the south and east
respectively. Miranda covers multiple prospects and gold occurrences including
the inactive mines La Fortuna and El Gigio (internal claims which do not belong
to First Mining). Additionally, the property exhibits structures and lithologies
favorable for the development of large orogenic (mesothermal) ore deposits
similar to those occurring along the SMM trend. During 2015, 151 rock chip
samples were taken and analyzed with values ranging between nil and 7.29 g/t Au.
Additionally, 3,486 soil samples were collected and analyzed. Socorro, Sonora The Socorro property was reduced and separated into fractions
in 2015 subject to government approval and now consists of four claims: El
Socorro Frac 1, El Socorro Frac 2, El Socorro Frac 3 and Tizoc R1 covering
35,654 hectares. It is a regional gold exploration play with dozens of pits and
placer deposits with excellent potential to host both bulk open-pit,
heap-leachable deposits as well as high-grade gold in high-angle structures. The
southern part of the concession covers the northern extension of the El Chanate
mine, while the central and northern portion cover mesothermal gold veins within
a regional structure over 10 km long. Work to date on the property includes interpretation of ASTER
images mapping and initial surface reconnaissance. During 2015, we took 53 rock chip samples on the property with
values ranging from nil to 41.0 g/t Au. Additionally, 7,737 soil samples were
taken and analyzed. 2016 Annual Information Form  Page 71   San Ricardo, Sonora The San Ricardo property consists of nine claims, two of which,
San Ricardo and San Ricardo 2, cover 50 hectares and an existing small mine that
was acquired by KCP through an option agreement in 2013. The remaining seven
claims: Teocuitla, Teocuitla 2, Teocuitla 4, Angel, Tlaloc, Tlaloc 2 and Aztlan
cover 37,350 hectares, and were staked by us between 2009 and 2011.
Mineralization on the property is epithermal in nature and has not been
constrained along strike or depth by drilling. All underground workings on the San Ricardo vein system were
opened up and saw sampled, and several hundred metres of trenches were excavated
and sampled. Subsequently, 14 diamond drill-holes were drilled on the property
to test two veins, the Santa Cruz and Mina Antigua, at shallow levels. Drill
results in the Santa Cruz vein varied from minor precious metal mineralization
to 2.3 m at 23.1 g/t Au, whereas the Mina Antigua vein contained 4.5 m at 100.4
g/t Ag. During 2015, the Company took 59 reconnaissance rock samples
with values ranging from nil to 33.7 g/t Au and completed a 4,993 soil samples
geochemical survey. Puertecitos, Sonora The Puertecitos property consists of two claims, Puertecitos
and Puertecitos 2, covering 9,060 hectares staked by the Company in 2009.
Located 32 km southwest of the Sasabe border crossing between the US and Mexico,
Puertecitos is 40 km west of our Los Tamales property and 32 km northeast of the
Peñoles Los Humos deposit, a 625 Mt porphyry copper system grading 0.32% Cu.
Widespread copper oxides outcrop at Puertecitos and the presence of sericite and
secondary biotite in breccia fragments from dikes and pipes suggest that a
porphyry system may exist under the extensive rhyolite flows on the property. In
2015, First Mining entered into an option agreement with Peñoles under which the
Puertecitos property may be acquired. On August 8, 2016, Peñoles notified us of
its decision to discontinue exploration on the project and consequently the
option agreement was terminated. Los Tamales, Sonora The Los Tamales property consists of two claims, Teocuitla 5
and Teocuitla 8, which cover 3,851 hectares staked by us in 2010. Los Tamales is
a porphyry copper-molybdenum system located 125 km southwest of Tucson, Arizona
and 28 km south of the US-Mexican border. The property was discovered by a water
well sampling program during a joint United States Geological Survey and
Servicio Geologico Mexicano reconnaissance effort in the 1970s, and was the
subject of two USGS open-file reports 94-685 and 84-289. Five diamond drill
holes tested copper and molybdenum soil geochemical anomalies in 2013 along a
five km strike length with all holes showing low grade chalcopyrite and
molybdenite mineralization. The deposit as currently interpreted suggests it is
the deep level of a large system dissected by low angle faulting. In 2015, we
entered into an option agreement with Peñoles under which the Los Tamales
property may be acquired. On August 8, 2016, Peñoles notified us of its decision
to discontinue exploration on the project and consequently the option agreement
was terminated. El Apache, Sonora The El Apache property contains 11,417 ha in two claims; El
Apache and Tlahuac, both staked by us in 2011. El Apache is largely covered by wind-blown sand of the western
Sonoran Desert and lies in a highly prospective area within the prolific
Sonora-Mojave megashear gold belt. The property lies 10 km east of the largest
gold-only mine in Mexico, Fresnillos Herradura complex and 10 km south of La
Choya mine. 2016 Annual Information Form  Page 72   Work to date includes partial surface reconnaissance,
interpretation of the governments magnetic data and limited surface sampling in
two small outcropping hills. Future work will entail ZTEM, detailed
magnetometry, bleg sampling, and enzyme leach-type geochemical surveys to
identify drill targets under sand cover. Batacosa, Sonora The Batacosa property consists of one claim covering 3,600 ha
staked by us in 2011. Batacosa is a porphyry copper-molybdenum system located 55
km northeast of Ciudad Obregon and 220 km southeast of Hermosillo, capital of
the state. Batacosa was discovered by Cominco in the 1970s and subsequently
drilled by them and other companies between 1970 and 2000. A total of 8,000 m
was drilled in 47 drill holes. First Mining has delineated two untested targets
within the property. Montana Negra, Sonora The Montana Negra property consists of one claim, Montana
Negra, covering 852 ha. The property covers Proterozoic rocks that we believe
may be favourable for gold mineralization and is located in North Central
Sonora, 20 km southeast of Cananea. The Orogenic gold system, similar to La
Choya and San Francisco mines, targets are open-pit leachable mineralization in
granitic and metamorphic rocks. Additional field work is required to fully
evaluate the property following preliminary surface samples that reported from
nil to 9.5 g/t Au. Las Margaritas, Durango The Las Margaritas property is 500 ha consisting of two mining
concessions approximately 150 km from Durango City. The property was acquired
through an Assignments of Rights Agreement signed July 6, 2011 and is subject to
a 1% NSR royalty payable to the vendor which may be purchased at any time before
July 6, 2016 for US$500,000. The project is located in the Barrancas subprovince
of the Sierra Madre Occidental. Some limited gold mining by artisanal
prospectors is known to have taken place on the project in the early
20th century and the project contains a known vein with quartz,
argillic alteration striking for at least 1.8 km. In 2016, a two-year extension
was negotiated with the vendor which granted First Mining the option to purchase
the royalty by November 2018 in consideration for an additional US$100,000,
payable over two years. Geranio, Oaxaca The Geranio property consists of six claims: La Ramita,
Geranio, Violeta, Azucena, El Jilguero and La Orquidea, which combined, cover
540 ha. Additionally, we have also staked a much larger block of ground to the
north, east and south of the Natividad system. The Geranio project lies adjacent and directly north of the
historic Natividad Mining District, 70 km north of the city of Oaxaca in
southern Mexico. Natividad is a series of five bonanza grade gold and silver
veins in a black shale host rock which over the last 70 years has produced 1.5
million ounces of gold equivalent. The property covers approximately 1,200 m of
strike length of the northern extension of the Natividad vein system. Two ASARCO exploration diamond drill holes were drilled on the
Geranio property in 1992; hole N-20 intersected 0.6 m at 36 g/t Au and 315 g/t
Ag, whereas hole N-24 intersected 0.7 m at 45 g/t Au and 120 g/t Ag. Our
objective is to delineate another Natividad mineralized system with comparable
precious metal contents. El Roble, Oaxaca The El Roble property, located in the Natividad mining district
consists of two claims staked by us: El Roble and El Roble 2, which were
recently reduced to 9,666 hectares. The property covers the northern extension
of Natividad veins and other historic bonanza producers such as El Banco mine.
Relevant exploration features include a 15 km strike length of a large magnetic
high representing an intrusive body at depth believed to be associated with
high-grade gold mineralization in veins. Work to date includes
regional geology, airborne magnetics and reconnaissance sampling of selected
areas. 2016 Annual Information Form  Page 73   Lachatao, Oaxaca The Lachatao property, located in Oaxaca Mexico, consists of
three claims known as Lizi 1, Lizi 1 Fraccion 2, and Lizi 1 Fraccion 3 covering
5,126 ha and staked by us. Targets in the property include high-grade gold
bonanza veins in black shales as well as stockworks and disseminated gold in
volcanic rocks. United States Turquoise Canyon, Nevada The Turquoise Canyon property (formerly the Bald Mountain
property) located in Nevada is wholly-owned by First Mining. The property
consists of 188 unpatented claims totaling 3,872 acres located along the Battle
Mountain-Eureka Trend, 16 km south of Barrick Gold Corp.'s Cortez Mine Complex
(23 Moz. Au), and 9 km west of its newly discovered Gold Rush deposit (7 Moz.
Au) and 1.5 km east of the Toiyabe Mine, a Carlin type gold deposit that
produced 89,000 oz. of gold in the 1990s. Results of an airborne ZTEM survey commissioned by the Company
show an antiformal structure in the underlying Roberts Mountain Thrust which
will be the focus of future exploration. A gravity high and anomalous
conductive/polarizable anomalies at the southwest corner of the property are
high priority drill targets. Six other potential drill targets were interpreted
from two induced polarization/resistivity lines run over the property. Risks that can affect our business There are risks in every business. The nature of our business means we face many kinds of risks
and hazards  some that relate to the mineral exploration industry in general,
and others that apply to specific properties, operations or planned operations.
These risks could have a significant impact on our business, earnings, cash
flows, financial condition, results of operations or prospects. The following section describes the risks that are most
material to our business. This is not, however, a complete list of the potential
risks we face  there may be others we are not aware of, or risks we believe are
not material today that could become material in the future. We have in place
systems and procedures appropriate for a company at our stage of development to
manage these risks, but there is no assurance that we will be successful in
preventing the harm that any of these risks could cause. Types of risk 
    Exploration, development, production and operational risks.........................
    p. 75
    Financial risks.................................................................................................
    p. 79
    Political risks..................................................................................................
    p. 82
    Regulatory risks..............................................................................................
    p. 83
    Environmental risks........................................................................................
    p. 84
    Industry risks..................................................................................................
    p. 85
    Other risks......................................................................................................
    p. 86
 2016 Annual Information Form  Page 74   Exploration, development, production and
operational risks Exploration and development risks The exploration for and development of minerals involves
significant risks, which even a combination of careful evaluation, experience
and knowledge may not eliminate. These risks include: 
    few properties that are explored are ultimately
      developed into producing mines;
    there can be no guarantee that the estimates of
      quantities and qualities of minerals disclosed will be economically
      recoverable;
    with all mining operations there is uncertainty
      and, therefore, risk associated with operating parameters and costs
      resulting from the scaling up of extraction methods tested in pilot
      conditions; and
    mineral exploration is speculative in nature
      and there can be no assurance that any minerals discovered will result in
      an increase in our resource base. Unsuccessful exploration or development programs could have a
material adverse impact on our operations and financial condition. Operational hazards and risks Our operations will be subject to all of the hazards and risks
normally encountered in the exploration and development of minerals. To the
extent that we or any third party with whom we may partner may take a property
to production, we will also be subject (directly or indirectly) to all of the
hazards and risks associated with the production of minerals. These risks
include: 
    unusual and unexpected geological formations;
    rock falls;
    seismic activity;
    flooding and other conditions involved in the extraction
      of material, any of which could result in damage to, or destruction of,
      mines and other producing facilities, damage to life or property,
      environmental damage and possible legal liability;
    environmental pollution, and consequent liability that
      could have a material adverse impact on our business, operations and
      financial performance;
    mechanical equipment and facility performance problems;
      and
    periodic disruptions due to inclement or hazardous
      weather conditions. Substantial expenditures Substantial expenditures are required to establish resources
and reserves through drilling, to develop metallurgical processes to extract the
metal from the ore and, in certain cases, to develop infrastructure at any site
chosen for exploration. Although substantial benefits may be derived from the
discovery of a major mineralized deposit, no assurance can be given that
minerals will be discovered in sufficient quantities to justify commercial
operations or that funds required for development can be obtained on a timely
basis. The economics of developing mineral properties is affected by
many factors including: 
    the cost of operations;
    variations in the grade of mineralized material
      mined;
    fluctuations in metal markets; and
    such other factors as government regulations,
      including regulations relating to royalties, allowable production,
      importing and exporting of minerals and environmental protection. 2016 Annual Information Form  Page 75    Long-term commercial success Our long-term success depends on our ability to find, acquire
and develop with our partners gold projects in the Americas. No assurance can be
given that we will be able to locate satisfactory properties for acquisition or
participation. Moreover, if such acquisitions or participations are identified,
we may determine that current markets, terms of acquisition and participation or
pricing conditions make such acquisitions or participations uneconomic. No history of mineral production First Mining has no history of commercially producing metals
from its mineral exploration properties. Our current business model does not
contemplate that we will establish mining operations ourselves on any property,
however, our business plan anticipates that we may retain interests in
properties which we have transferred to other parties and who may choose to
establish mining operations. As a result, our business may (indirectly) by
subject to risks with respect to mineral production. There can be no assurance
that any party will successfully establish mining operations or profitably
produce gold or other precious metals on any property in which we maintain an
interest. The development of mineral properties involves a high degree of risk
and few properties that are explored are ultimately developed into producing
mines. The commercial viability of a mineral deposit is dependent upon a number
of factors which are beyond our control, including the attributes of the
deposit, commodity prices, government policies and regulation and environmental
protection. Fluctuations in the market prices of minerals may render reserves
and deposits containing relatively lower grades of mineralization uneconomic. None of our properties are currently under development or
production. The future development of any properties found to be economically
feasible will require the operator to obtain licenses and permits and will
require the construction and operation of mines, processing plants and related
infrastructure. As a result, the development of any property will be subject to
all of the risks associated with establishing new mining operations and business
enterprises, including, but not limited to: 
    the timing and cost of the construction of mining and
      processing facilities;
    the availability and costs of skilled labour and
      mining equipment;
    the availability and cost of appropriate smelting and/or
      refining arrangements;
    the need to obtain necessary environmental and other
      governmental approvals and permits and the timing of those approvals and
      permits; and
    the availability of funds to finance construction and
      development activities. It is common in new mining operations to experience unexpected
problems and delays during development, construction and mine start-up. In
addition, delays in the commencement of mineral production often occur.
Accordingly, there are no assurances that our activities and those of our
business partners will result in profitable mining operations or that mining
operations will be established at any of our properties. Title risks Title to mineral properties, as well as the location of
boundaries on the grounds may be disputed. Moreover, additional amounts may be
required to be paid to surface right owners in connection with any mineral
exploration or development activities. At all properties where we have
current or planned exploration activities, we believe that we have either
contractual, statutory, or common law rights to make such use of the surface as
is reasonably necessary in connection with those activities. 2016 Annual Information Form  Page 76   Title insurance generally is not available for mining claims in
  Canada, and our ability to ensure that we have obtained secure claims to
  individual mineral properties or mining concessions may be severely constrained.
  We have not conducted surveys of all our claims; therefore, the precise area and
  location of such claims may be in doubt. In addition, all of our mineral
  properties have had previous owners, and third parties may have valid claims
  (known or unknown) underlying our interests therein. Accordingly, our properties
  may be subject to prior unregistered liens, agreements, royalties, transfers or
  claims, including First Nations land claims, and title may be affected by, among
  other things, undetected defects. In addition, we may be unable to explore our
  properties as permitted or to enforce our rights with respect to our properties.
  An impairment to or defect in our title to our properties could have a material
  adverse effect on our business, financial condition or results of operation. Joint ventures Our business plan anticipates that we may retain interest in
properties which we have transferred to other parties who may choose to
establish mining operations and that interest may be in the form of a joint
venture. The existence or occurrence of one or more of the following
circumstances and events could have a material adverse impact on our
profitability or the viability of our interests that may be held through joint
ventures, which could have a material adverse impact on our future cash flows,
earnings, results of operations and financial condition: 
    disagreements with joint venture partners on
      how to develop and operate mines efficiently;
    inability to exert influence over certain
      strategic decisions made in respect of joint venture properties;
    inability of joint venture partners to meet
      their obligations to the joint venture or third parties; and
    litigation between joint venture partners
      regarding joint venture matters. We do not intend to be the operator on any property and
therefore the success of any operations will be dependent on the operators for
the timing of activities related to these properties and we would be largely
unable to direct or control the activities of the operators. We would be subject
to the decisions made by the operator in the operation of the property, and will
have to rely on the operators for accurate information about the properties. Acquisition or business arrangements As part of our business strategy, we have sought and will
continue to seek new mining and exploration opportunities in the mining
industry. In pursuit of such opportunities, we may fail to select appropriate
acquisition targets or negotiate acceptable arrangements, including arrangements
to finance acquisitions or integrate the acquired businesses and their workforce
into us. Ultimately, any acquisitions would be accompanied by risks, which could
include: 
    a significant change in commodity prices after
      we have committed to complete the transaction and established the purchase
      price or exchange ratio;
    a material ore body could prove to be below
      expectations;
    difficulty in integrating and assimilating the
      operations and workforce of any acquired companies;
    realizing anticipated synergies and maximizing
      the financial and strategic position of the combined enterprise;
    the bankruptcy of parties with whom we have
      arrangements;
    maintaining uniform standards, policies and
      controls across the organization; 2016 Annual Information Form  Page 77    
    disruption of our ongoing business and its
      relationships with employees, suppliers, contractors and other
      stakeholders as we integrate the acquired business or assets;
    the acquired business or assets may have
      unknown liabilities which may be significant;
    delays as a result of regulatory approvals; and
    exposure to litigation (including actions
      commenced by shareholders) in connection with the transaction. Any material issues that we encounter in connection with an
acquisition could have a material adverse effect on our business, results of
operations and financial position. Mineral reserves/mineral resources The properties in which we hold an interest are currently
considered to be in the early exploration stage only and do not contain a known
body of commercial minerals. Mineral resources and mineral reserves are, in the
large part, estimates and no assurance can be given that the anticipated
tonnages and grades will be achieved or that the indicated level of recovery
will be realized. Mineral resourceson our properties have been determined
based upon assumed metal prices and operating costs. Future production could
differ dramatically from resource and reserve estimates because, among other
reasons: 
    mineralization or formations could be different from
      those predicted by drilling, sampling and similar examinations;
    calculation errors could be made in estimating mineral
      resources and mineral reserves;
    increases in operating mining costs and processing costs
      could adversely affect mineral resources and mineral reserves;
    the grade of the mineral resources and mineral reserves
      may vary significantly from time to time and there is no assurance that
      any particular level of metals may be recovered from the ore; and
    declines in the market price of the metals may render the
      mining of some or all of the mineral reserves uneconomic. Estimated mineral resources may require downward revisions
based on changes in metal prices, further exploration or development activity,
increased production costs or actual production experience. This could
materially and adversely affect estimates of the tonnage or grade of
mineralization, estimated recovery rates or other important factors that
influence mineral resource and mineral reserve estimates. Any reduction in estimated mineral resources as a result could
require material write downs in investment in the affected mining property and
increased amortization, reclamation and closure charges, which could have a
material and adverse effect on future cash flows for the property and on our
earnings, results of operations and financial condition. Because we do not currently have any producing properties,
mineralization estimates for our properties may require adjustments or downward
revisions based upon further exploration or development work or actual future
production experience. In addition, the grade of mineralized material ultimately
mined, if any, may differ from that indicated by drilling results. There can be
no assurance that minerals recovered in small-scale tests will be duplicated in
large-scale tests under on- site conditions or in production scale. The mineral resource estimates contained in this AIF have been
determined and valued based on assumed future prices, cut-off grades and
operating costs that may prove to be inaccurate. Extended declines in market
prices for gold or other metals may render portions of our mineralization
uneconomic and result in reduced reported mineralization. Any material
reductions in mineralization estimates, or of the ability to extract mineralized
material from our properties, could (directly or indirectly) have a material
adverse effect on our results of operations or financial condition. 2016 Annual Information Form  Page 78   Capital costs, operating costs, production and economic
returns Although our current business model does not contemplate that
we will establish mining operations ourselves on any property, our business plan
anticipates that we may retain interests in properties that we have transferred
to other parties who may choose to establish mining operations. Actual capital costs, operating costs, production and economic
returns with respect to our properties may differ significantly from those we
have anticipated and there are no assurances that any future development
activities will result in profitable mining operations. The capital costs
required to develop or take our projects into production may be significantly
higher than anticipated. To the extent that such risks impact upon any such
properties, there may be a material adverse effect on results of operations on
such properties which may in turn have a material adverse effect on our
financial condition. None of our mineral properties have sufficient operating
history upon which we can base estimates of future operating costs. Decisions
about the development of these and other mineral properties will ultimately be
based upon feasibility studies. Feasibility studies derive estimates of cash
operating costs based upon, among other things: 
    anticipated tonnage, grades and metallurgical
      characteristics of the mineralized material to be mined and processed;
    anticipated recovery rates metals from the
      mineralized material;
    cash operating costs of comparable facilities
      and equipment; and
    anticipated climatic conditions. Cash operating costs, production and economic returns, and
other estimates contained in studies or estimates prepared by or for us, may
differ significantly from those anticipated by our current studies and
estimates, and there can be no assurance that our actual operating costs will
not be higher than currently anticipated. Property interests The agreements pursuant to which we hold rights to certain of
our properties provide that we must make a series of cash payments over certain
time periods or make minimum exploration expenditures. If we fail to make such
payments or expenditures in a timely manner, we may lose interest in those
projects. Availability of supplies As with other mineral exploration companies, certain raw
materials, supplies and other critical resources used in connection with our
operations are obtained from a sole or limited group of suppliers. Due to an
increase in activity in the global mining sector, there has been an increase in
global demand for such resources. A decrease in the suppliers inventory could
cause unanticipated cost increases, an inability to obtain adequate supplies and
delays in delivery times, thereby impacting operating costs, and timing of
exploration and development programs. Lack of infrastructure The completion of the development of our development projects
is subject to various requirements, including the availability and timing of
acceptable arrangements for electricity or other sources of power, water and
transportation facilities. The lack of availability on acceptable terms or the
delay in the availability of any one or more of these items could prevent or
delay the development of our exploration projects. If adequate infrastructure is
not available in a timely manner, there can be no assurance that: the
development of our projects will be completed on a timely basis, if at all; any
resulting operations will achieve the anticipated production volume; or the
ongoing operating costs associated with the development of our projects will not
be higher than anticipated. 2016 Annual Information Form  Page 79   Personnel recruitment and retention The success of our operations and development projects depend
in part on our ability to attract and retain geologists, engineers,
metallurgists and other personnel with specialized skill and knowledge about the
mining industry in the geographic areas in which we operate. The number of
persons skilled in acquisition, exploration and development of mining properties
is limited and competition for such persons is intense. As our business grows,
we may require additional key financial, administrative, and mining personnel as
well as additional operations staff. There can be no assurance that we will be
successful in attracting, training, and retaining qualified personnel as
competition for persons with these skill sets increases. If we are unable to
attract and retain sufficiently trained, skilled or experienced personnel, our
business may suffer and we may experience significantly higher staff or
contractor costs, which could have a material adverse effect on our operations
and financial condition. Uninsured losses Despite efforts to attract and retain qualified personnel, as
well as the retention of qualified consultants, to manage our interests, even
when those efforts are successful, people are fallible and human error and
mistakes could result in significant uninsured losses to us. These could
include, but are not limited to, loss or forfeiture of mineral claims or other
assets for non]payment of fees or taxes, erroneous or incomplete filings or non
fulfillment of other obligations, significant tax liabilities in connection with
any tax planning effort we might undertake or mistakes in interpretation and
implementation of tax laws and practices, and legal claims for errors or
mistakes by our personnel. Financial risks Substantial capital requirements Our management team anticipates that we may make substantial
capital expenditures for the acquisition, exploration and development of our
properties, in the future. As we are in the exploration stage with no revenue
being generated from the exploration activities on our mineral properties, we
have limited ability to raise the capital necessary to undertake or complete
future exploration work, including drilling programs. There can be no assurance
that debt or equity financing will be available or sufficient to meet these
requirements or for other corporate purposes or, if debt or equity financing is
available, that it will be on terms acceptable to us and any such financing may
result in substantial dilution to existing shareholders. Moreover, future
activities may require us to alter our capitalization significantly. Our
inability to access sufficient capital for our operations could have a material
adverse effect on our financial condition, results of operations or prospects.
In particular, failure to obtain such financing on a timely basis could cause us
to forfeit our interest in certain properties, miss certain acquisition
opportunities and reduce or terminate our operations. History of net losses We have received no revenue to date from the exploration
activities on our properties, and there is no assurance that any of the
properties that we have or will acquire pursuant to acquisitions or otherwise
will generate earnings, operate profitably or provide a return on investment in
the future. We have not determined that production activity is warranted on any
of our mineral properties. Even if we (alone or in conjunction with a third
party) undertake development and production activities on any of our mineral
properties, there is no certainty that we will produce revenue, operate
profitably or provide a return on investment in the future. We are subject to all of the risks associated with new mining
operations and business enterprises including, but not limited to: 
    the timing and cost, which can be considerable,
      for the further construction of mining and processing facilities; 2016 Annual Information Form  Page 80    
    the availability and costs of skilled labour,
      consultants, mining equipment and supplies;
    the availability and cost of appropriate
      smelting and/or refining arrangements;
    the need to obtain necessary environmental and
      other governmental approvals, licenses and permits, and the timing of
      those approvals, licenses and permits; and
    the availability of funds to finance
      construction and development activities. It is common in new mining operations to experience unexpected
problems and delays during construction, development, and mine start-up. In
addition, delays in mineral production often occur. Accordingly, there are no
assurances that our activities will result in sustainable profitable mining
operations or that we will successfully establish mining operations or
profitably produce metals at any of our other properties. Potential volatility of share price In recent years, the securities markets in Canada have
experienced a high level of price and volume volatility, and the market price of
securities of many junior companies have experienced wide fluctuations in price.
The market price of our shares may be volatile and could be subject to wide
fluctuations due to a number of factors, including but not limited to: actual or
anticipated fluctuations in the results of our operations; changes in estimates
of our future results of operations by management or securities analysts; and
general industry changes. In addition, the financial markets have in the recent
past experienced significant price and value fluctuations that have particularly
affected the market prices of equity securities of many venture issuers and that
sometimes have been unrelated to the operating performance of these companies.
Broad market fluctuations, as well as economic conditions generally and in the
mining industry specifically, may adversely affect the market price of our
shares. Non-Canadian investors We are a public Canadian corporation, with our principal place
of business in Canada. A majority of our directors and officers are residents of
Canada and a significant portion of our assets and the assets of a majority of
our directors and officers are located outside the United States. Consequently,
it may be difficult for US or foreign investors to effect service of process
within their local jurisdiction upon First Mining or its directors or officers
or such experts who are residents of Canada, or to realize in their local
jurisdiction upon judgments of local courts (including, but not limited to,
judgments predicated upon civil liabilities under the United States Securities
Act of 1933, as amended). Investors should not assume that Canadian courts: (i)
would enforce judgments of foreign courts obtained in actions against First
Mining or such directors, officers or experts (including, but not limited to,
judgments predicated upon the civil liability provisions of the US federal
securities laws or the securities or blue sky laws of any state within the
United States); or (ii) would enforce, in original actions, liabilities against
First Mining or such directors, officers or experts predicated upon foreign
securities laws (including, but not limited to, the US federal securities laws
or any state securities or blue sky laws). In addition, the protections
afforded by Canadian securities laws may not be available to foreign investors. Currency fluctuations We maintain our accounts in Canadian dollars. Our operations in
Mexico and the United States make us subject to foreign currency fluctuations
and such fluctuations may affect our financial position and results. We do not
plan to engage in currency hedging activities. Volatility of mineral prices Metal prices are affected by numerous factors beyond our
control, such as industrial demand, inflation and expectations with respect to
the rate of inflation, the strength of the US dollar and of other currencies,
interest rates, forward sales by producers, production and cost levels, changes
in investment trends, global and regional levels of supply and demand, metal
stock levels maintained by producers, inventory carrying costs, availability,
demand and costs of metal substitutes, international economic and political
conditions, reduced demand resulting from obsolescence of technologies and processes utilizing
silver and other metals and increased production due to new mine developments
and improved mining and production levels. Gold prices are sometimes subject to
rapid short-term changes because of speculative activities, and the market price
of gold and other metals may not remain at current levels. If these prices were
to decline significantly or for an extended period of time, we might be unable
to continue our operations, develop our properties or fulfill our obligations
under agreements with our partners or under our permits and licenses. As a
result, we might lose our interest in, or be forced to sell, some of our
properties. In the event of a sustained, significant drop in gold prices, we may
be required to re-evaluate our assets, resulting in reduced estimates of mineral
resources and mineral reserves and in material write-downs of our investment in
mining properties. Furthermore, since gold prices are established in US dollars,
a significant decrease in the value of the Canadian dollar relative to the US
dollar coupled with stable or declining gold prices could adversely affect our
results with respect to development of and eventual sale of gold. 2016 Annual Information Form  Page 81   Global financial conditions Global financial conditions continue to be characterized by
volatility. Many industries, including the mining industry, are impacted by
volatile market conditions. Global financial conditions remain subject to sudden
and rapid destabilizations in response to economic shocks. A slowdown in the
financial markets or other economic conditions, including but not limited to
consumer spending, employment rates, business conditions, inflation,
fluctuations in fuel and energy costs, consumer debt levels, lack of available
credit, the state of the financial markets, interest rates and tax rates, may
adversely affect our growth and financial condition. Future economic shocks may
be precipitated by a number of causes, including the government debt levels,
fluctuations in the price of oil and other commodities, the volatility of metal
prices, geopolitical instability, terrorism, the volatility of currency
exchanges, the devaluation and volatility of global stock markets and natural
disasters. Any sudden or rapid destabilization of global economic conditions
could impact our ability to obtain equity or debt financing in the future on
terms favourable to us or at all. In such an event, our operations and financial
condition could be adversely impacted. Dividends To date, we have not paid any dividends on our outstanding
common shares and we have no plans to declare or pay dividends in the near
future. Any decision to pay dividends on our shares will be made by our Board on
the basis of our earnings, financial requirements and other conditions. Dilution The number of common shares we are authorized to issue is
unlimited. We may, in our sole discretion, issue additional common shares from
time to time, and the interests of the shareholders may be diluted thereby. Political risks Foreign operations While our principal exploration properties are located in
Canada, we continue to hold properties in Mexico. Our operations in Mexico or in
other countries we determine to operate in may be exposed to various levels of
political, economic, and other risks and uncertainties depending on the country
or countries in which we operate. These risks and uncertainties include, but are
not limited to, terrorism; hostage taking; military repression; fluctuations in
currency exchange rates; high rates of inflation; labour unrest; the risks of
civil unrest; expropriation and nationalization; renegotiation or nullification
of existing concessions, licenses, permits and contracts; illegal mining;
changes in taxation policies; restrictions on foreign exchange and repatriation;
and changing political conditions, currency controls, and governmental
regulations that favour or require the awarding of contracts to local
contractors, or require foreign contractors to employ citizens of, or purchase
supplies from, a particular jurisdiction. 2016 Annual Information Form  Page 82   Future political and economic conditions may result in a
government adopting different policies with respect to foreign development and
ownership of mineral resources. Any changes in policy may result in changes in
laws affecting ownership of assets, foreign investment, taxation, rates of
exchange, resource sales, environmental protection, labour relations, price
controls, repatriation of income, and return of capital, which may affect both
the ability to undertake exploration and development activities in respect of
future properties in the manner currently contemplated, as well as our ability
to continue to explore, develop, and operate those properties to which we have
rights relating to exploration, development, and operations. Indigenous peoples Various international and national laws, codes, resolutions,
conventions, guidelines, and other materials relate to the rights of indigenous
peoples including the First Nations of Canada. We operate in some areas
presently or previously inhabited or used by indigenous peoples including areas
covered by treaties among the First Nations, the federal and provincial
governments. Many of these materials impose obligations on government to respect
the rights of indigenous people. Some mandate that government consult with
indigenous people regarding government actions which may affect indigenous
people, including actions to approve or grant mining rights or permits. The
obligations of government and private parties under the various international
and national materials pertaining to indigenous people continue to evolve and be
defined. Our current and future exploration program may be subject to a risk
that one or more groups of indigenous people may oppose development on any of
our properties or on properties in which we hold a direct or indirect interest.
Such opposition may be directed through legal or administrative proceedings or
expressed in manifestations such as protests, roadblocks or other forms of
public expression against the our activities or other parties to whom we have
transferred properties. Opposition by indigenous people to our operations may
require modification of or preclude development of our projects or projects on
properties in which we hold a direct or indirect interest or may require us or a
third party to enter into agreements with indigenous people with respect to
projects on such properties. Such agreements may have a material adverse effect
on our business, financial condition and results of operations. Regulatory risks Government approvals Our activities are subject to government approvals, various
laws governing prospecting, development, land resumptions, production taxes,
labour standards and occupational health, mine safety, toxic substances and
other matters, including issues affecting local First Nations populations. The
costs associated with compliance with these laws and regulations can be
substantial. Although we believe our activities are carried out in accordance
with all applicable rules and regulations, no assurance can be given that new
rules and regulations will not be enacted or that existing rules and regulations
will not be applied in a manner which could limit or curtail production or
development, or cause additional expense, capital expenditures, restrictions or
delays in the development of our properties. Amendments to current laws and
regulations governing operations and activities of exploration and mining, or
more stringent implementation thereof, could have a material adverse impact on
our business, operations and financial performance. Further, the mining licenses
and permits issued in respect of our projects may be subject to conditions
which, if not satisfied, may lead to the revocation of such licenses. In the
event of revocation, the value of our investments in such projects may decline. Mineral claims, licenses and permitting Our mineral claims, licenses and permits are subject to
periodic renewal and may only be renewed a limited number of times for a limited
period of time. While we anticipate that renewals will be given as and when
sought, there is no assurance that such renewals will be given as a matter of
course and there is no assurance that new conditions will not be imposed in
connection therewith. Our business objectives may also be impeded by the costs
of holding and/or renewing the mineral claims, licenses and permits. In
addition, the duration and success of efforts to obtain and renew mineral
claims, licenses and permits are contingent upon many variables not within our
control. 2016 Annual Information Form  Page 83   Our current and anticipated future operations, including
further exploration, development activities and commencement of production on
our properties, require licenses and permits from various governmental
authorities. We cannot be certain that all licenses and permits that we may
require for our operations will be obtainable on reasonable terms or at all.
Delays or a failure to obtain such licenses and permits, or a failure to comply
with the terms of any such licenses and permits that we have obtained, could
have a material adverse impact on First Mining. Anti-bribery legislation Our activities are subject to a number of laws that prohibit
various forms of corruption, including domestic laws, that prohibit both
commercial and official bribery and anti-bribery laws that have a global reach
such as the Corruption of Foreign Public Officials Act. The increasing
number and severity of enforcement actions in recent years present particular
risks with respect to our business activities, to the degree that any employee
or other person acting on our behalf might offer, authorize, or make an improper
payment to a government official, party official, candidate for political
office, or political party, an employee of a state-owned or state-controlled
enterprise, or an employee of a public international organization. Transparency in the extractive industry In its 2014-2015 Budget, the Federal Government of Canada had
announced it would be putting new standards in place to require companies in the
extractive sector to disclose their payments to local and foreign governments. The Canadian Extractive Sector Transparency Measures Actcame into force on June 1, 2015 and applies to fiscal periods which
commenced after that date. As a result, as a Canadian publicly listed
corporation we must report annually on payments of $100,000 or more made to any
level of government in Canada or abroad related to a single project. The
reporting applies to taxes, licences, fees, royalties, production entitlements,
bonuses, dividends, fines and infrastructure payments. We will be required to
file its initial report by May 30, 2017. Other than amounts paid in Mexico for
annual mineral property concession taxes, First Mining has minimal eligible
payments that are over the reporting threshold. The reporting for payments made to an Aboriginal government in
Canada will not apply until after June 1, 2017. The Québec government has also proposed a disclosure regime
which is similar to the federal requirements subject to size limits related to
assets in Québec and the number of employees. On October 21, 2015, the National
Assembly of Québec adopted Bill 55 an Act Respecting Transparency Measures in
The Mining, Oil and Gas Industries, which came into force on that date. The
provincial and federal regimes will require separate reporting at this time. We
believe that the impact will not be significant at this time. Environmental risks Environmental laws and regulations All phases of the mining business present environmental risks
and hazards and are subject to environmental regulation pursuant to a variety of
international conventions and state and municipal laws and regulations.
Environmental legislation provides for, among other things, restrictions and
prohibitions on spills, releases or emissions of various substances produced in
association with mining operations. The legislation also requires that wells and
facility sites be operated, maintained, abandoned and reclaimed to the
satisfaction of applicable regulatory authorities. Compliance with such
legislation can require significant expenditures and a breach may result in the
imposition of fines and penalties, some of which may be material. Environmental
legislation is evolving in a manner expected to result in stricter standards and
enforcement, larger fines and liability and potentially increased capital
expenditures and operating costs. Environmental assessments of proposed projects
carry a heightened degree of responsibility for companies and directors,
officers and employees. The cost of compliance with changes in governmental
regulations has a potential to reduce the profitability of operations. 2016 Annual Information Form  Page 84   We believe we are in substantial compliance with all material
laws and regulations which currently apply to our activities. We cannot give any
assurance that, notwithstanding our precautions and limited history of
activities, breaches of environmental laws (whether inadvertent or not) or
environmental pollution will not result in additional costs or curtailment of
planned activities and investments, which could have a material and adverse
effect on our future cash flows, earnings, results of operations and financial
condition. Failure to comply with applicable laws, regulations, and permitting
requirements may result in enforcement actions thereunder, including orders
issued by regulatory or judicial authorities causing operations to cease or be
curtailed, and may include corrective measures requiring capital expenditures,
installation of additional equipment, or remedial actions. Companies engaged in
mining operations may be required to compensate those suffering loss or damage
by reason of the mining activities and may have civil or criminal fines or
penalties imposed for violations of applicable laws or regulations and, in
particular, environmental laws. Amendments to current laws, regulations and permits governing
operations and activities of mining companies, or more stringent implementation
thereof, could have a material adverse impact on us and cause increases in
capital expenditures or any future production costs or require abandonment or
delays in the development of new mining properties. Companies engaged exploration and development of mineral
properties may from time to time experience increased costs and delays in
exploration and production as a result of the need to comply with applicable
laws, regulations and permits. We believe we are in substantial compliance with
all material laws and regulations which currently apply to our activities. We
cannot give any assurance that, notwithstanding our precautions and limited
history of activities, breaches of environmental laws (whether inadvertent or
not) or environmental pollution will not result in additional costs or
curtailment of planned activities and investments, which could have a material
and adverse effect on our future cash flows, earnings, results of operations and
financial condition. Compliance with emerging climate change regulations Governments at all levels may be moving towards enacting
legislation to address climate change concerns, such as requirements to reduce
emission levels and increase energy efficiency, and political and economic
events may significantly affect the scope and timing of climate change measures
that are ultimately put in place. Where legislation has already been enacted,
such regulations may become more stringent, which may result in increased costs
of compliance. There is no assurance that compliance with such regulations will
not have an adverse effect on our results of operations and financial condition.
Furthermore, given the evolving nature of the debate related to climate change
and resulting requirements, it is not possible to predict the impact on our
results of operations and financial condition. Climate change may result in an increasing frequency of extreme
weather events (such as increased periods of snow and increased frequency and
intensity of storms) which have the potential to disrupt our exploration and
development plans. Our emergency plans for managing extreme weather conditions
may not be sufficient and extended disruptions could have adverse effects on our
results of operations and financial condition. Industry risks Speculative nature of mineral development activities Resource exploration and development is a speculative business,
characterized by a number of significant risks including, among other things,
unprofitable efforts resulting not only from the failure to discover mineral
deposits but from finding mineral deposits which, though present, may, for a
variety of factors not be economic to produce. 2016 Annual Information Form  Page 85   The marketability of minerals acquired or discovered by us may
be affected by numerous factors which are beyond our control and which cannot be
accurately predicted, such as: 
    market fluctuations;
    the proximity and capacity of milling facilities;
    mineral markets;
    processing equipment; and
    government regulations, including regulations relating to
      royalties, allowable production, importing and exporting of minerals and
      environmental protection. Estimates of mineral resources, mineral reserves, mineral
deposits and production costs can also be affected by such factors as: 
    environmental permitting regulations and
      requirements;
    weather;
    environmental factors;
    unforeseen technical difficulties;
    unusual or unexpected geological formations;
      and
    work interruptions. In addition, the grade of mineralized material ultimately mined
may differ from that indicated by drilling results. Short term factors relating to mineral reserves, such as the
need for orderly development of mineralized bodies or the processing of new or
different grades, may also have an adverse effect on mining operations and on
the results of operations. Material changes in mineralized material reserves,
grades, stripping ratios or recovery rates may affect the economic viability of
any project. Our mineral properties are all in the exploration stage only
and are without known bodies of commercial mineralized material. Few properties
which are explored are ultimately developed into producing mines. Major expenses
may be required to establish mineral reserves, develop metallurgical processes
and construct mining and processing facilities at a particular site. There is no
assurance that our mineral exploration activities will result in any discoveries
of new commercial bodies of mineralized material. There are no reassurances that
commercial production activities will commence on any of our properties. Competition The mining industry is highly competitive. We compete with
companies for the acquisition, exploration and development of gold and other
precious and base metals, and for capital to finance such activities, and such
companies may have similar or greater financial, technical and personnel
resources available to them. Other risks Reliance on key employees We manage our business with a number of key personnel,
including key contractors, the loss of a number of whom could have a material
adverse effect on us. In addition, as our business develops and expands, we
believe that our future success will depend greatly on our continued ability to
attract and retain highly-skilled and qualified personnel and contractors. In
assessing the risk of an investment in our shares, potential investors should
realize that they are relying on the experience, judgment, discretion, integrity
and good faith of our management team and board of directors. We cannot be
certain that key personnel will continue to be employed by us or that we will be able to attract and retain qualified personnel and
contractors in the future. Failure to retain or attract key personnel could have
a material adverse effect on us. We do not maintain key person insurance
policies in respect of our key personnel. 2016 Annual Information Form  Page 86   Conflicts of interest Certain directors and officers will be engaged in, and will
continue to engage in, other business activities on their own behalf and on
behalf of other companies (including mineral companies) and, as a result of
these and other activities, such directors and officers may become subject to
conflicts of interest. The BCBCA provides that if a director has a material
interest in a contract or proposed contract or agreement that is material to the
issuer, the director must disclose his interest in such contract or agreement
and must refrain from voting on any matter in respect of such contract or
agreement, subject to and in accordance with the BCBCA. To the extent that
conflicts of interest arise, such conflicts will be resolved in accordance with
the provisions of the BCBCA and in accordance with our Code of Business Conduct
and Ethics. Uninsured risks Our business is subject to a number of risks and hazards,
including adverse environmental conditions, industrial accidents, labour
disputes, unusual or unexpected geological conditions, ground or slope failures,
cave-ins, changes in the regulatory environment and natural phenomena, such as
inclement weather conditions, floods and earthquakes. Such occurrences could
result in damage to our properties, personal injury or death, delays in program
development, monetary losses and possible legal liability. Although we maintain insurance to protect against certain risks
in amounts that we consider reasonable, our insurance will not cover all the
potential risks associated with our operations. We may also be unable to
maintain insurance to cover these risks at economically feasible premiums.
Insurance coverage may not continue to be available or may not be adequate to
cover any resulting liability. Moreover, insurance against certain risks, such
as environmental pollution or other hazards as a result of exploration and
production, is not generally available to us or to other companies in the mining
industry on acceptable terms. We may also become subject to liability for
pollution or other hazards which may not be insured against or which we may
elect not to insure against because of premium costs or other reasons. Losses
from these events may cause us to incur significant costs that could have a
material adverse effect upon our financial performance, results of operations
and business outlook. Litigation and regulatory proceedings We may be subject to civil claims (including class action
claims) based on allegations of negligence, breach of statutory duty, public
nuisance or private nuisance or otherwise in connection with our operations, or
investigations relating thereto. While we are presently unable to quantify any
potential liability under any of the above heads of damage, such liability may
be material to us and may materially adversely affect our ability to continue
operations. In addition, we may be subject to actions or related investigations
by governmental or regulatory authorities in connection with our business
activities, including, but not limited to, current and historic activities at
our mineral properties. Such actions may include prosecution for breach of
relevant legislation or failure to comply with the terms of our licenses and
permits and may result in liability for pollution, other fines or penalties,
revocations of consents, permits, approvals or licenses or similar actions,
which could be material and may impact the results of our operations. Our
current insurance coverage may not be adequate to cover any or all the potential
losses, liabilities and damages that could result from the civil and/or
regulatory actions referred to above. Growth strategy We evaluate growth opportunities and continue to consider the
acquisition and disposition of exploration and development properties and
mineral assets to achieve our strategy. From time to time, we engage in
discussions in respect of both acquisitions and dispositions, and other
business opportunities, but there can be no assurance that any such discussions
will result in a successfully completed transaction. 2016 Annual Information Form  Page 87   Future Sales of Shares Sales of a substantial number of our shares in the public
market could occur at any time following, or in connection with, the completion
of any offering. These sales, or the market perception that the holders of a
large number of our shareholders intend to sell our shares, could reduce the
market price of our shares. A decline in the market price of the shares could
impair our ability to raise additional capital through the sale of securities
should we desire to do so. The issuance of shares to shareholders whose investment profile
may not be consistent with the our business may lead to significant sales of our
shares or a perception that such sales may occur, either of which could have a
material adverse effect on the market for and market price of our shares. We are
unable to predict the effect that sales may have on the then prevailing market
price of our shares. Shares Owned by a Single Shareholder A significant percentage of our outstanding shares are owned by
an exchange traded fund (an ETF). As such, the ETF is in a position to
exercise influence over matters requiring shareholder approval, including the
determination of significant corporate actions that could otherwise be
beneficial to our other shareholders, including the election and removal of
directors, amendments to our corporate governing documents and business
combinations. Our interests and those of the ETFs may at times conflict, and
this conflict might be resolved against our interests. The concentration of
control by a single shareholder may practically preclude an unsolicited
take-over bid for our shares, and this may adversely impact the value and
trading price of our shares. Other risks Our business and operations are subject to a number of risks
and hazards including: 
    environmental hazards;
    discharge of pollutants or hazardous chemicals;
    industrial accidents;
    failure of processing and mining equipment;
    labour disputes;
    supply problems and delays;
    changes in regulatory environment;
    encountering unusual or unexpected geologic
      formations or other geological or grade problems;
    encountering unanticipated ground or water
      conditions;
    cave-ins, pit-wall failures, flooding, rock
      bursts and fire;
    periodic interruptions due to inclement or
      hazardous weather conditions;
    uncertainties relating to the interpretation of
      drill results;
    inherent uncertainty of production and cost
      estimates and the potential for unexpected costs and expenses;
    results of initial feasibility, pre-feasibility
      and feasibility studies, and the possibility that future exploration or
      development results will not be consistent with our expectations; 2016 Annual Information Form  Page 88    
    the potential for delays in exploration or the
      completion of feasibility studies; and
    other acts of God or unfavourable operating
      conditions. Such risks could result in damage to, or destruction of,
properties or equipment, personal injury or death, loss of key employees,
environmental damage, delays in development programs, monetary losses and
possible legal liability. Satisfying such liabilities may be very costly and
could have a material adverse effect on future cash flow, results of operations
and financial condition. Legal proceedings On June 16, 2016, First Mining assumed control of the business
and assets of Tamaka as a result of the amalgamation between Tamaka and a wholly
owned subsidiary of First Mining. Tamaka was a party to three debentures with an
aggregate principal amount of approximately $2.1 million (collectively, the
Debentures), payable to Kesselrun Resources Ltd. (Kesselrun).
Kesselrun has commenced an action before the Ontario Superior Court alleging
that the Debentures were required to be converted into common shares of First
Mining as a result of the amalgamation transaction with Tamaka, and is seeking
an order for, among other things, the issuance to Kesselrun of shares of First
Mining or, in the alternative, damages. First Mining disagrees with this
position, and we take the position that the Debentures have not been converted
and remain outstanding. We have engaged legal counsel in relation to this contractual
dispute and at this time we cannot definitively predict the outcome of this
dispute. In the event Kesselrun prevails, Kesselrun would convert approximately
$2.1 million of the principal amount of the Debentures into approximately 5.6
million shares of First Mining, which had a fair market value of approximately
$4.8 million as at December 31, 2016. For further information about this, see note 27 to our audited
consolidated annual financial statements for the year ended December 31, 2016. Investor information Share capital Our authorized share capital consists of: 
    an unlimited number of common shares; and
    an unlimited number of preferred shares,
      issuable in series. Common shares We can issue an unlimited number of common shares with no
nominal or par value. As of December 31, 2016, we had 539,439,736 common shares
outstanding (543,468,233 outstanding as of the date of this AIF). All of our
outstanding common shares are fully paid and non-assessable. The following is a summary of the principal attributes of our
common shares: Voting rights Holders of our common shares are entitled to vote on all
matters that are to be voted on at any shareholder meeting, other than meetings
that are only for holders of another class or series of shares. Each common
share you own represents one vote. There are no cumulative voting rights, and
directors do not stand for re-election at staggered intervals. 2016 Annual Information Form  Page 89   Dividends Holders of our common shares are entitled to share pro ratain any profits of First Mining to the extent that such profits are
distributed either through the declaration of dividends by our Board or
otherwise distributed to shareholders. There are no indentures or agreements
limiting the payment of dividends. Rights on dissolution In the event of the liquidation, dissolution or winding up of
First Mining, the holders of our common shares will be entitled to receive, on a
pro ratabasis, all of our assets remaining after payment of all of our
liabilities. Pre-emptive, conversion and other rights Holders of our common shares have no pre-emptive, redemption,
purchase or conversion rights attaching to their shares, and our common shares,
when fully paid, will not be liable to further call or assessment. No other
class of shares may be created without the approval of the holders of our common
shares. There are no provisions discriminating against any existing or
prospective holder of our common shares as a result of such shareholder owning a
substantial number of common shares. In addition, non-residents of Canada who
hold our common shares have the same rights as shareholders who are residents of
Canada. Preferred shares We can issue an unlimited number of preferred shares with no
nominal or par value. As of the date of this AIF, we did not have any preferred
shares outstanding. The preferred shares are issuable in series. The preferred
shares of each series rank in parity with the preferred shares of every other
series with respect to dividends and return of capital and are entitled to a
preference over the common shares and any other shares ranking junior to the
preferred shares with respect to priority in the payment of dividends and the
distribution of assets in the event of the liquidation, dissolution or
winding-up of First Mining. Our Board of Directors is empowered to fix the number of shares
and the rights to be attached to the preferred shares of each series, including
the amount of dividends and any conversion, voting and redemption rights.
Subject to our articles of incorporation and to applicable law, the preferred
shares as a class are not entitled to receive notice of or attend or vote at
meetings of the Companys shareholders. Security-based compensation and
convertible securities Stock options Our shareholders most recently approved the Companys existing
stock option plan (the Option Plan) on June 16, 2016. The Option Plan
allows for the issuance of up to 10% of our issued and outstanding shares as
incentive share options (Options) to our directors, officers, employees
and consultants of the Company. Options granted under the Option Plan may be subject to vesting
provisions as determined by our Board of Directors. All of our outstanding
Options are fully vested and exercisable, with the exception of Options that
have been granted to employees who carry out investor relations functions, as
their Options are subject to certain vesting periods required under the rules
and policies of the TSX-V. As of December 31, 2016 and as of the date of this AIF, there
were 24,440,617 Options and 34,837,383 Options, respectively, outstanding with
exercise prices ranging from $0.15 to $2.50, and expiry dates ranging from June
16, 2017 to March 13, 2022. 2016 Annual Information Form  Page 90   Warrants In addition to the outstanding Options noted above, as of
December 31, 2016 and as of the date of this AIF, there were 50,938,673 share
purchase warrants and 50,093,409 share purchase warrants, respectively,
outstanding to acquire common shares of First Mining at exercise prices ranging
from $0.17 to $1.10, and with expiry dates ranging from February 15, 2018 to
June 16, 2021. Escrowed securities The following table shows the number and percentage of common
shares held, to First Minings knowledge, in escrow or subject to a contractual
restriction on transfer as at December 31, 2016: Designation of class
    
    Number of securities held in
      escrow or that
    
    Percentage of classCommon Shares
    
    51,741,089 (1)(2)(3)(4)
    
    9.5%
 Notes: 1.
    Of this number, as of December 31, 2016, 3,299,524 common
      shares of First Mining were being held in escrow by Computershare Investor
      Services Inc. pursuant to an Escrow Value Security Agreement dated March
      30, 2015 that was entered into in connection with the Sundance
      Acquisition. 15% of these shares will be released on March 30 and
      September 30 of each year, until the final release of shares on March 30,
      2018.2.
    Of this number, as of December 31, 2016, 583,275 common
      shares of First Mining were being held in escrow by Computershare Investor
      Services Inc. pursuant to a CPC Escrow Agreement dated August 2, 2005. 15%
      of these shares will be released on March 30 and September 30 of each
      year, until the final release of shares on March 30, 2018.3.
    Of this number, as of December 31, 2016, 29,658,290
      common shares of First Mining were being held in escrow by Computershare
      Trust Company of Canada pursuant to an escrow agreement dated June 16,
      2016 that was entered into in connection with our acquisition of Tamaka.
      5,931,658 of these escrowed shares will be released from escrow on June
      17, 2017, and thereafter 5,931,658 shares will be released on December 17
      and June 17 of each year, until the final 5,931,658 shares are released on
      June 17, 2019.4.
    Of this number, as of December 31, 2016, 18,200,000
      common shares of First Mining were subject to a contractual restriction on
      transfer pursuant to the share purchase agreement dated May 2, 2016 that
      First Mining entered into with Chalice and Chalice Gold Mines (Ontario)
      Inc. (the Chalice Agreement). Pursuant to the Chalice agreement,
      Chalice is not permitted to sell more than 4,032,605 shares of First
      Mining in any month following October 10, 2016, unless otherwise agreed to
      by First Mining. This resale restriction applies to Chalice until June 9,
      2017. Material contracts Other than contracts made in the ordinary course of business,
as of the date of this AIF, we have no material contracts. Market for our securities Our common shares are listed and traded on the TSX-V under the
symbol FF, on the OTC-QX under the symbol FFMGF, and on the Frankfurt Stock
Exchange under the symbol FMG. We have a registrar and transfer agent for our common shares: Computershare Investor Services Inc.
510 Burrard Street, 2ndFloor, Vancouver, British Columbia V6C
3B9. 2016 Annual Information Form  Page 91   Trading activity The table below shows the high and low closing prices and
trading volumes of our common shares on the TSX-V for each month of our most
recently completed financial year. 2016
    High ($)
    Low ($)
    VolumeJanuary
    0.43
    0.36
    19,502,040February
    0.43
    0.37
    27,438,585March
    0.42
    0.38
    18,667,371April
    0.76
    0.39
    50,675,003May
    0.81
    0.62
    26,015,935June
    0.80
    0.67
    35,821,936July
    1.18
    0.83
    61,625,049August
    1.20
    0.88
    33,657,804September
    0.99
    0.83
    24,996,628October
    0.82
    0.71
    17,992,696November
    0.84
    0.69
    22,783,860December
    0.91
    0.75
    79,391,664TOTAL
    
    418,568,571
 2016 Trading Activity: TSX-V   2016 Annual Information Form  Page 92   Our team Directors All our directors are elected for a one year term, and hold
office until our next annual shareholder meeting, unless he or she resigns
before that time or steps down, as required by corporate law. The directors of
First Mining as of the date of this AIF are as follows: Principal occupation or employmentDirector
    Board committees
    for past five yearsChairman of the Board
    Director and Chairman of First Mining sinceMarch 2015Audit CommitteeNovember 2001 to present  Founder,Compensation Committee
    President and Chief Executive Officer, FirstCorporate Governance
    Majestic Silver Corp. (mining company)CommitteeDecember 1998 to present  Director, FirstMajestic Silver Corp. (mining company)Keith NeumeyerZug, SwitzerlandDirector sinceMarch 30, 2015  Ownership of Securities:
    10,305,313 shares
    356,129 warrants
    5,190,000 options  Director
    Board committees
    Principal occupation or employmentfor past fiveyearsCompensation Committee
    Director of First Mining since April 2016(chair)September 2016 to present  Director,
      SIRIOSResources Inc. (mining company)July 2016 to present  Chairman,
      MonarquesGold Corp. (mining company)May 2013 to present  Director, CartierResources Inc. (mining company)November 2011 to April 2016  President,Chief Executive Officer and a Director ofMichel Bouchard
    
    Clifton Star Resources Inc. (mining
      company)Québec, Canada
    
    May 2009 to November 2011  Vice-President, Exploration and Development atDirector since
    
    North American Palladium Ltd. (mining
    company)April 8, 2016  Ownership of Securities:
    304,000 shares
    15,000 warrants
    1,664,000 options 2016 Annual Information Form  Page 93    Director
    Board committees
    Principal occupation or employmentfor past five yearsNone
    Director and Chief Executive Officer of
      FirstMining since March 2015September 2011 to March 2015  ChiefExecutive Officer, Sundance Minerals Ltd.(private mining company)April 2007 to March 2015  President,Sundance Minerals Ltd. (private mining
    company)Chris Osterman, Ph.D.Tucson, ArizonaUSADirector sinceMarch 30, 2015  Ownership of Securities:
    1,760,084 shares
    8,500 warrants
    5,265,000 options  Principal occupation or employmentDirector
    Board committees
    for past five yearsAudit Committee
    Director of First Mining since March 2015(chair)February 2007 to present  Chief FinancialCompensation Committee
    Officer of First Majestic Silver Corp. (mining company)Corporate Governance CommitteeRaymond L. Polman, CPA, CAVancouver, BritishColumbia, CanadaDirector sinceMarch 30, 2015  Ownership of Securities:
    333,333 shares
    NIL warrants
    1,125,000 options 2016 Annual Information Form  Page 94    Director
    Board
      committees
    Principal occupation or employmentfor
      past five yearsAudit Committee
    Director of First Mining since March 2015Compensation Committee
    June 2014 to present  Director of
      MedallionResources Ltd. (mining company)Corporate GovernanceCommittee
    December 2010 to present  Director of(chair)
    Great Quest Fertilizer Ltd. (mining
      company)January 2005 to present  Director, FirstMajestic Silver Corp. (mining company)David Shaw, Ph.D.Vancouver, British
    
    June 2000 to present  President ofColumbia, Canada
    
    Duckmanton Partners Ltd. (consulting
    business)Director since
    
    November 2013 to July 2014  Director ofMarch 30, 2015
    
    Global Strategic Metals NL (capital pool company)(Director of the predecessorcompany,
    
    September 2010 to March 2013  Director
      ofAlbion Petroleum Ltd.,
    
    Talison Lithium Inc. (mining company)since April 5, 2005)April 2005 to March 2015 - President andDirector of Albion Petroleum Ltd. (capital pool company)  Ownership of Securities:
    713,250 shares
    50,000 warrants
    1,025,000 options 2016 Annual Information Form  Page 95   Officers The officers of our Company as of the date of this AIF are as
follows: Officer
    Principal occupation or employment for past five
      yearsPresident of First Mining since January 2015August 2012 to August 2014  Vice President,
      Corporate Communications, NovaCopper Inc. (mining company)July 2010 to August 2012  Vice President,
      Corporate Development, Hana Mining Ltd. (mining company)Patrick DonnellyPresidentVancouver, BritishColumbia  Ownership of Securities:
    50,000 shares
    25,000 warrants
    5,265,000 options  Officer
    Principal occupation or employment for past five
      yearsDirector and Chief Executive Officer of First
      Mining since March 2015September 2011 to March 2015  Chief Executive
      Officer, Sundance Minerals Ltd. (private mining company)April 2007 to March 2015  President, Sundance
      Minerals Ltd. (private mining company)Chris Osterman, Ph.D.Chief Executive OfficerTucson, ArizonaUSA  Ownership of
      Securities:
    1,760,084 shares
    8,500 warrants
    5,265,000 options 2016 Annual Information Form  Page 96    Officer
    Principal occupation or employment for past five
      yearsChief Financial Officer of First Mining since
      September 2016June 2015 to September 2016  Controller of
      First MiningJune 2013 to June 2015  Director of Finance,
      Great Panther Silver Ltd. (mining company)October 2011 to June 2013  Controller, Alexco
      Resource Corp. (mining company)Andrew MarshallChief Financial OfficerVancouver, British ColumbiaCanada  Ownership of Securities:
    128,745 shares
    18,750 warrants
    1,100,000 options  Officer
    Principal occupation or employment for past five
      yearsVice President, Investor Relations of First
      Mining since July 2015February 2010 to July 2015  Manager, Investor
      Relations, Uranerz Energy Corp. (resource company)Derek IwanakaVice President,Investor RelationsCoquitlam, British ColumbiaCanada  Ownership of Securities:
    125,000 shares
    62,500 warrants
    1,200,000 options 2016 Annual Information Form  Page 97    Officer
    Principal occupation or employment for past five
      yearsCorporate Counsel and Corporate Secretary of
      First Mining since June 2016November 2012 to May 2016  Corporate Counsel
      and Corporate Secretary of Wellgreen Platinum Ltd. (mining company)November 2012 to February 2013  Corporate
      Counsel and Corporate Secretary, Prophecy Coal Corp. (mining company)September 2009 to November 2012  Associate,
      Securities & Capital Markets group, Borden Ladner Gervais LLP (law
      firm)Samir Patel, LL.B. (Hons)Corporate Counsel andCorporate SecretaryVancouver, British Columbia,Canada  Ownership of Securities:
    100,000 shares
    37,700 warrants
    700,000 options To our knowledge, the total number of common shares that the
directors and officers as a group either: (i) beneficially owned; or (ii)
exercised direction or control over, directly or indirectly, as at the date of
this AIF was 13,819,725 common shares. This represents approximately 2.5% of our
outstanding common shares as at the date of this AIF (on an undiluted basis). Interest of management and others in material transactions To the best of our knowledge, none of the directors, executive
officers or shareholders that either: (i) beneficially own; or (ii) control or
direct, directly or indirectly, over 10% of any class of our outstanding
securities, nor their associates or affiliates, have or have had within the
three most recently completed financial years, any material interests, direct or
indirect, in transactions which have materially affected, or are reasonably
expected to materially affect, our Company. Other information about our directors and officers None of our directors or officers, or a shareholder holding a
sufficient number of securities of First Mining to affect materially the control
of our Company, is or was a director or executive officer of another company
(including our Company) in the past 10 years that: 
    was subject to a cease trade or similar order, or an
      order denying that company any exemption under securities legislation that
      was in effect for more than 30 consecutive days, while the director or
      executive officer held that role with the company;
    was involved in an event while the director or executive
      officer was acting in that capacity that resulted in the company being
      subject to one of the above orders after the director or executive officer
      no longer held that role with the company; or
    while acting in that capacity, or within a year of acting
      in that capacity, became bankrupt, made a proposal under any legislation
      relating to bankruptcy or insolvency or was subject to or instituted any
      proceedings, arrangement or compromise with creditors or had a
receiver, receiver manager or trustee appointed to hold the assets of that
company. 2016 Annual Information Form  Page 98   None of them in the past 10 years: 
    became bankrupt;
    made a proposal under any legislation relating
      to bankruptcy or insolvency;
    has been subject to or launched any
      proceedings, arrangement or compromise with any creditors; or
    had a receiver, receiver manager or trustee
      appointed to hold any of their assets. None of them has ever been subject to: 
    penalties or sanctions imposed by a court
      relating to securities legislation or by a securities regulatory authority
      or has entered into a settlement agreement with a securities regulatory
      authority; or
    any other penalties or sanctions imposed by a
      court or regulatory body that would likely be considered important to a
      reasonable investor in making an investmentdecision. Interests of experts Auditor Our auditor is BDO Canada LLP, independent chartered
accountants, who have audited our 2016 annual financial statements. BDO Canada
LLP is independent within the meaning of the Code of Professional Conduct of the
Chartered Professional Accountants of British Columbia. They are located at
Suite 600, 925 West Georgia Street, Vancouver, British Columbia V6C 3L2. Qualified persons All technical and scientific information discussed in this AIF,
including mineral resource estimates for our material properties, and all
technical and scientific information for our other non-material projects, has
been reviewed and approved by our Chief Executive Officer and Director, Chris
Osterman, P.Geo., who is a qualified person for the purposes of NI 43-101. The following individuals prepared the Springpole Technical
Report with reference to the requirements of NI 43-101: 
    Dr. Gilles Arseneau, Ph.D., P.Geo., Associate
      Consultant (Geology), of SRK Consulting (Canada) Inc.;
    Dr. Adrian Dance, Ph.D., P.Eng., Principal
      Consultant (Metallurgy), of SRK Consulting (Canada) Inc.;
    John F. Duncan, P.Eng., Principal Consultant
      (Water Resources Engineering), of SRK Consulting (Canada) Inc.;
    Christopher Elliot, FAusIMM, Principal
      Consultant (Mining), of SRK Consulting (Canada) Inc.;
    Mark Liskowich, P.Geo., Principal Consultant
      (Environmental), of SRK Consulting (Canada) Inc.;
    Bruce Murphy, FSAIMM, Principal Consultant
      (Geotechnical) and Practice Leader, of SRK Consulting (Canada) Inc.;
    Michael Royle, M.App.Sci., P.Geo., Principal
      Consultant (Hydrogeology), of SRK Consulting (Canada) Inc.; 2016 Annual Information Form  Page 99    
    Dr. Ewoud Maritz Rykaart, Ph.D., P.Eng.,
      Principal Consultant (Geotechnical Engineering), of SRK Consulting
      (Canada) Inc.; and
    Dino Pilotto, P.Eng., Senior Engineer of JDS
      Energy & Mining Inc.
 Todd McCracken, P.Geo., Manger  Mining of WSP Canada Inc.,
prepared the Goldlund Technical Report with reference to the requirements of NI
43-101. Mark Drabble, B.App.Sci (Geology), MAIG, MAusIMM, and Kahan
Cervoj, B.App.Sci (Geology), MAIG, MAusIMM, Principal Consultants of Optiro Pty
Limited, prepared the Cameron Gold Technical Report with reference to the
requirements of NI 43-101. B. Terrence Hennessey, P.Geo., Alan J. San Martin, MAusIMM(CP),
and Sam J. Shoemaker, Jr., B.Sc., Regd Mem SME, of Micon International Limited,
prepared the Pickle Crow Technical Report with reference to the requirements of
NI 43-101. Michael P. Cullen, M.Sc., P.Geo., of Mercator Geological
Services Limited, prepared the Hope Brook Technical Report with reference to the
requirements of NI 43-101. Each of the abovementioned firms or persons hold, as either a
registered or beneficial holder, less than one percent of the outstanding
securities of First Mining or of any associate or affiliate of First Mining.
None of the aforementioned firms or persons received any direct or indirect
interest in any securities of First Mining or of any associate or affiliate of
First Mining in connection with the preparation and review of any technical
report or this AIF. None of the aforementioned firms or persons, nor any
directors, officers or employees of such firms or persons, are currently
expected to be elected, appointed or employed as a director, officer or employee
of the Company or of any associate or affiliate of the Company, other than Chris
Osterman, our Chief Executive Officer and a Director of First Mining. Legal counsel Our external legal counsel is McCullough OConnor Irwin LLP,
and they are located at Suite 2600, Oceanic Plaza, 1066 West Hastings Street,
Vancouver, British Columbia V6E 3X1. Additional information You can find more information about First Mining under our
SEDAR profile at www.sedar.comand on our website at
www.firstminingfinance.com. Our most recent management proxy circular dated May 9, 2016
contains additional information on how our directors and officers are
compensated, the principal holders of our securities, and the securities that
are authorized for issuance under our equity compensation plans, and is
available on SEDAR. For additional financial information about First Mining, see
our audited consolidated annual financial statements and managements discussion
and analysis for the financial year ended December 31, 2016, which are also
available on SEDAR. Copies of the above documents may be obtained from First Mining
by contacting us at Suite 1805  925 West Georgia Street, Vancouver, British
Columbia V6C 3L2, telephone: 1.844.306.8827. 2016 Annual Information Form  Page 100