VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 27, 2016) – First Mining Finance Corp. (TSX VENTURE:FF)(OTCQX:FFMGF) (“First Mining” or the “Company”) is pleased to announce that it has completed its previously announced transaction with Silver One Resources Inc. (“Silver One”) by selling all of the issued and outstanding shares of one of its wholly-owned subsidiaries to Silver One. As a result, Silver One has acquired from First Mining the following three silver assets located in Mexico: the Peñasco Quemado, La Frazada and Pluton properties (collectively, the “Properties”).
As consideration for this purchase, Silver One has issued six million common shares of Silver One to First Mining. In addition, First Mining has retained a 2.5% net smelter return (“NSR”) royalty on the Properties, and Silver One may buy back 1.5% of the NSR by paying US$1 million to First Mining.