M&A Deal Summary

First Mining Acquires Clifton Star Resources

On February 12, 2016, First Mining acquired metals/mining company Clifton Star Resources for 21M CAD

Acquisition Highlights
  • This is First Mining’s 3rd transaction in the Metals/Mining sector.
  • This is First Mining’s 0th largest (disclosed) transaction.
  • This is First Mining’s 3rd transaction in Canada.
  • This is First Mining’s 1st transaction in Quebec.

M&A Deal Summary
Date 2016-02-12
Target Clifton Star Resources
Sector Metals/Mining
Buyer(s) First Mining
Deal Type Add-on Acquisition
Deal Value 21M CAD

Target

Clifton Star Resources

Quebec, Quebec, Canada
Clifton Star Resources, Inc. is a junior mining exploration company with a focus on gold and base metal exploration. Its portfolio consists of six properties, all in Canada within the prolific Abitibi Greenstone Belt including the Duquesne Project, a past gold producer which produced from 1949 to 1952 and from 1989 to 1991. Clifton Star’s projects are all located near existing mining camps with existing power and road infrastructures in mining friendly Québec.

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Buyer(S) 1

Buyer

First Mining

Vancouver, British Columbia, Canada
Category Company
Founded 2005
Sector Metals/Mining
Employees21
DESCRIPTION

First Mining is a mineral property holding company whose principal business activity is to acquire high quality mineral assets with a focus in the Americas. The Company currently holds a portfolio of 19 mineral assets in Canada, Mexico and the United States with a focus on gold. Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc and nickel. First Mining was founded in 2005 and is based in Vancouver, Canada.

DEAL STATS #
Overall 3 of 4
Sector (Metals/Mining) 3 of 4
Type (Add-on Acquisition) 3 of 3
State (Quebec) 1 of 1
Country (Canada) 3 of 4
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-24 Goldrush Resources

Vancouver, British Columbia, Canada

Goldrush is a Canadian mineral exploration company focused on gold exploration, with a treasury of approximately CAD$3,400,000, royalty interests on two gold projects in Burkina Faso, West Africa.

Buy CA$4M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-07 Pitt Gold Property

Quebec, Canada

Pitt Gold Property is located in the Abitibi Region of Quebec. Pitt Gold Property which, at a cut-off grade of 3.00 g/t gold, is estimated to have Indicated Resources of 600,000 tonnes grading 7.83 g/t gold (151,000 Au ounces) and Inferred Resources of 476,000 tonnes grading 6.91 g/t gold (106,000 Au ounces).

Buy CA$1M
Mergr

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