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First Mining Gold Reduces Stake in Pickle Crow Project in Ontario

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-- First Mining Gold (FF.TO)'s interest in the Pickle Crow gold project in Ontario dropped to 20% from 30% after Bellavista Resources closed the acquisition of a stake in the project, it said Wednesday.

Bellavista acquired the stake in PC Gold, the entity that holds the project, from FireFly Metals (FFM.TO).

Bellavista has exercised its buy-down right at the project, paying C$3 million to First Mining to reduce First Mining's ownership in PC Gold from 30% to 20%.

First Mining's interest in PC Gold is free carried to a decision to mine at Pickle Crow, the company said.

Shares in FF edged down in Canada yesterday.

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