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2016

FIRST MINING FINANCE CORP.
Acquisition by Plan of Arrangement

We acted as counsel to First Mining Finance Corp. (“First Mining”) in connection with its acquisition of Clifton Star Resources Inc., a reporting issuer listed on the TSX Venture Exchange. The acquisition closed in April 2016 and was completed pursuant to a statutory plan of arrangement under the Canada Business Corporations Act pursuant to which each outstanding share of Clifton Star was exchanged for one common share of First Mining and Clifton Star options were exchanged for replacement stock options. Based on the closing price of First Mining’s common shares on April 6, 2016, the last trading date prior to the transaction, the common shares of First Mining issued pursuant to transaction were valued at approximately $19.25 million.

First Mining is a mineral property holding company whose principal business activity is to acquire and hold high-quality mineral assets with a focus in the Americas. First Mining currently holds a portfolio of mineral assets in Mexico, Canada and the United States with a focus on gold. First Mining’s ultimate goal is to increase its portfolio of mineral assets through acquisitions.