First Mining Gold closes Hope Brook earn-in agreement with Big Ridge Gold Corp in cash and share deal First Mining Gold Corp (TSE:FF) (OTCQX:FFMGF) (FRA:FMG) has closed the book on an earn-in agreement with Big Ridge Gold Corp (CVE:BRAU) (OTCMKTS:ALVLF) (FRA:3H8B) on its Hope Brook gold project in Newfoundland. Finalizing the deal first announced in April, Big Ridge Gold can now earn up to an 80% stake in the project through a two-stage earn-in over five years by incurring a total of $20 million in qualifying expenditures and issuing up to 25 million Big Ridge shares. Upon closing, First Mining received $500,000 in cash and 11.5 million shares from Big Ridge. READ: First Mining Gold enters partnership to advance Hope Brook gold project First Mining will retain a 1.5% net smelter returns (NSR) royalty on the project, of which 0.5% can be bought back by Big Ridge for $2 million. The company also nominated its COO Ken Engquist to the board of directors of Big Ridge Gold. Hope Brook boasts a high-grade underground resource of 5.5 million tons grading 4.77 grams per ton (g|t) gold for 844,000 ounces in the indicated category, and an additional 840,000 tons grading 4.11 g|t gold for 110,000 ounces of gold in the inferred.