1911 Gold Advances True North with Resource Upgrade, Drilling Progress, and Funding

Highlights

• 1911 Gold advances its flagship True North project with an updated NI 43-101 resource estimating nearly 1.14 million ounces of gold.
• The company secured CAD 7.8 million in December 2024 financing to fund an ambitious 2025 exploration program.
• Over 11,700m of drilling completed since October 2024, with high-grade intercepts including 58.66 g/t gold over 1.4m.
• A CAD 285,636 grant from the Manitoba Mineral Development Fund supports ongoing drilling at True North.
• 1911 Gold closed a CAD 13.2 million financing in July 2025 to accelerate exploration and development efforts.

1911 Gold Corporation (TSXV: AUMB, FRA: 2KY) is steadily making its mark as a major Canadian gold exploration company, with a clear focus on developing and expanding high-potential gold assets across Manitoba and Ontario. Currently, the company is advancing its flagship True North Gold Project, located in Bissett, Manitoba, at the heart of its 100%-owned Rice Lake Gold property.

Resource Foundation and Growing Potential

In 2024, 1911 Gold released an updated NI 43-101 Mineral Resource Estimate for True North, revealing an underground resource base.

The estimate detailed an indicated resource of 3.5 million tonnes grading 4.41 grams per tonne (g/t) gold, equating to roughly 499,000 ounces of gold. Meanwhile, inferred resources added another 5.5 million tonnes at 3.65 g/t, containing an additional 644,000 ounces of gold. These figures highlight True North’s promise as a major gold asset.

Building Momentum: Financing and Exploration Activities

The company’s progress in 2024 was boosted by an oversubscribed CAD 7.8 million financing round in December, led by a strategic corporate investor. The funding, secured at a premium to the share price, provided vital capital to support an ambitious 2025 exploration program.

Following this, 1911 Gold launched its first-ever drilling campaign within the mine lease, initiating 6,000m of diamond drilling designed to test multiple near-mine targets. These targets were identified by the company’s new geology team, leveraging an updated geological model to pinpoint areas with high potential for resource expansion.

Further drilling plans expanded to over 25,000m for 2025, with a dual focus on extending known mineralized zones and discovering new high-grade targets within both the mine lease and the broader Rice Lake gold belt.

Significant Drilling Results

The company’s exploration efforts received a boost in April 2025 with a CAD 285,636 grant from the Manitoba Mineral Development Fund (MMDF) to support drilling activities at True North.

Drilling at the recently identified San Antonio West (SAM West) target, part of the prolific San Antonio mafic unit, delivered compelling results in April. These were followed by additional holes in June, extending the gold-bearing structures by up to 350m down dip and 500m along strike.

Highlights from the June drilling program include:

• Hole TN-25-057, which intersected 58.66 g/t gold over 1.4m at 145m downhole, including high-grade sub-intervals of 63.2 g/t over 0.9m and 50.5 g/t over 0.5m.
• Hole TN-25-056, with 9.59 g/t gold over 2.3m at 103m depth, including sections grading as high as 21.3 g/t over 0.5m.
• Hole TN-25-058, intersecting 10.4 g/t gold over 0.5m at 249m depth.

Since launching the current program in October 2024, 1911 Gold has completed 51 surface drill holes totalling nearly 11,700m focused on new exploration targets within the True North mine footprint. Plans for further drilling at San Antonio West and San Antonio Southeast are underway, pending mine site access.

Looking Ahead: Underground Drilling and Development

Encouraged by these results, 1911 Gold is preparing to commence underground exploration drilling later this summer. Once site access is restored, development will ramp up across multiple underground levels to support the next phase of exploration. The company’s focus remains on high-priority zones that have the potential to increase the current resource base while aligning with the evolving mine plan.

In parallel, 1911 Gold continues to evaluate property-wide targets and advance the redevelopment of the high-grade Ogama-Rockland mineral resource, located near the True North complex.

Financial Strength Fuels Growth

To support its growing exploration and development efforts, 1911 Gold successfully closed a CAD 13.2 million “bought deal” financing on July 17, 2025. The financing comprised both common and flow-through shares, ensuring the company is well-capitalized to accelerate exploration at True North.

As of July 28 2025, 1911 Gold shares traded at CAD 0.24 per share.