RE:Advancing Pickle Crow with Ausenco
First Mining or the Company) (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce that it has entered into a binding term sheet with Auteco Minerals Ltd (Auteco) (ASX: AUT) whereby Auteco may earn up to an 80% interest in First Minings Pickle Crow Gold Project (Pickle Crow or the Project) located in Ontario, Canada. Auteco can earn a full 80% interest in the Project by incurring a total of $10 million in exploration expenditures over five years, making cash payments to First Mining totaling $4.1 million, and issuing 125 million shares of Auteco to First Mining. First Mining will also retain a 2% Net Smelter Return (NSR) Royalty, 1% of which can be bought back for US$2.5 million. Further details are set out under Earn-in Details.