- First Mining Gold Corp. has made an offer to acquire all of the issued and outstanding shares of Beattie Gold Mines Ltd.
- Beattie Gold Mines is a private company that owns the mineral rights to mining claims that make up a large part of the Duparquet Gold Project
- The transaction consolidates one of the largest advanced-stage, undeveloped gold projects in Canada – including the Duquesne and Pitt deposits, to create a multi-million-ounce gold resource district
- First Mining CEO Dan Wilton sat down with Sabrina Cuthbert to discuss the acquisition
- The Duparquet Gold Project is located near the town of Duparquet, Quebec and covers an area of 1,079 hectares, and consists of 50 mining claims
- First Mining is a Canadian gold developer focused on the exploration and development of its North American mineral properties
- First Mining Gold Corp. (FF) opened trading at C$0.205
First Mining Gold Corp. (FF) has offered to acquire all of the issued and outstanding shares of Beattie Gold Mines Ltd.
Beattie Gold Mines is a private company that owns the mineral rights to mining claims that make up the former Beattie mining concession which forms a large part of the Duparquet Gold Project in Quebec.
The transaction consolidates one of the largest advanced-stage, undeveloped gold projects in Canada – including the Duquesne and Pitt deposits, to create a multi-million-ounce gold resource district.
This acquisition increases the company’s measured and indicated resource base in Quebec by more than 450 per cent and its inferred resource base in Quebec by more than 150 per cent.
First Mining CEO Dan Wilton sat down with Sabrina Cuthbert to discuss the acquisition.
“This is a transformational acquisition for First Mining and the Duparquet Gold Project as we plan on consolidating this highly fragmented ownership structure under the First Mining banner. Duparquet hosts a robust resource profile where two past producing mines have operated in Quebec’s most prolific gold mining district. First Mining has been a long-time minority shareholder of the companies that own this Project, and the timing was right to acquire full ownership of these companies. We are confident that Duparquet and the district will prove to be a critical strategic asset in the gold sector in Canada as this transaction affirms First Mining’s positioning as a multi-asset developer of major projects in Tier 1 jurisdictions.
Together with our ownership of the Pitt and Duquesne projects in Quebec located just east of Duparquet, First Mining will now have 100% ownership exposure to 3.3 million M&I ounces of gold and 2.0 million inferred ounces of gold located in the Abitibi, which is home to some of the largest and richest mineral deposits in the world. First Mining has completed extensive due diligence and will develop a comprehensive plan to advance the Duparquet Gold Project in the near-term. The addition of Duparquet results in First Mining owning 100% of two projects with multi-million ounce gold resources in what we consider as the best mining jurisdictions in the world and will allow First Mining to leverage our team’s experience with similar projects in advancing these two major gold deposits.”
First Mining is a Canadian gold developer focused on the exploration and development of its North American mineral properties.
First Mining Gold Corp. (FF) opened trading at C$0.205.
