First Mining Gold Corp said it has acquired, from two individuals, 286,904 common shares of privately-held Beattie Gold Mines Ltd, which owns the mineral rights to mining claims of the former Beattie mining concession that form a large part of the Duparquet gold project in Québec.
The company said it now owns 474,743 shares of Beattie Gold Mines, increasing its ownership to 25.3% from 10.0%.
First Mining noted that it paid C$1,272,824 cash plus 7,636,944 First Mining common shares for the 286,904 Beattie Gold Mines shares.
READ: First Mining Gold outlines key developments aims at Springpole this year as it bids to reduce project's costs and improve green credentials
It added that it previously held 187,839 common shares of Beattie through its wholly-owned Clifton Star Resources subsidiary.
First Mining Gold is a Canadian gold developer focused on the development and permitting of the Springpole project in northwestern Ontario, one of the largest undeveloped gold projects in Canada.
The company also holds a large equity position in Treasury Metals Inc, which is advancing the Goliath Gold Complex toward construction.
First Mining's portfolio of gold projects in eastern Canada also includes the Pickle Crow, Hope Brook, Cameron, Duparquet, Duquesne, and Pitt gold projects.
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