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Trump’s Fed Feud: Fears Over Fed Independence Benefit Gold

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Uncertainty over the autonomy of the Federal Reserve under US President Trump echoes historical executive overreach, and is boosting gold’s safe-haven appeal.

In its annual Precious Metals Investment Focus report, published on October 25, Metals Focus highlighted a number of factors amplifying gold’s safe haven appeal and driving prices above US$4,000 per ounce.

One of the factors was fears over the independence of the Fed. As the agency tasked with setting the country’s monetary policy, the Fed is coming under increasing political pressure by Trump to lower interest rates.

“Concerns over the Fed’s independence and the challenges concerning US fiscal policy have eroded confidence in the US dollar, while geopolitical risks have also provided support,” stated the firm “These factors have boosted demand for gold for portfolio diversification, with gold’s strong price performance further enhancing its appeal to investors.”

The Fed’s independence has long been a cornerstone of US monetary policy. Its purview includes managing the country’s money supply, setting interest rates as well as buying and selling of US Treasury securities on the open market.

In order to protect both democracy and the integrity of the capital market system from political pressures, the Fed must be free to conduct these operations independently from the president or Congress.

Trump spars with Powell over interest rates

Trump appointed Powell as Fed chair during his first presidential term, but nevertheless took to Twitter in August 2019 to ask, “who is our bigger enemy, Jay Powell or Chairman Xi?”

The statement came after Powell made comments at an annual conference in Jackson Hole, Wyoming, suggesting Trump’s trade policies vis-à-vis China were weighing on economic growth.

More recently, in April of this year, the president blasted Powell for keeping interest rates unchanged: ‘The Fed really owes it to the American people to get interest rates down, that’s the only thing he’s good for.”

While the Fed has cut rates twice this year, it only amounts to 50 basis points, with rates now in a range of 3.75 to 4 percent. Powell has publicly balked at the idea of making deeper cuts — further stoking Trump’s ire.

Following the first rate cut in September, a Politico reporter asked Powell what may signal to Americans that the Fed is no longer acting nonpartisanly. “We don’t frame these questions at all or see them in terms of political outcomes. In another part of Washington, everything is seen through the lens of does it help or hurt this political party, this politicians,” Powell said. “That’s the framework. People find it hard to believe that’s not at all the way we think about things at the Fed. We take a longer perspective, we’re trying to serve the American people as best as we can.”

What history tells us about political pressure, the Fed and stagflation

“There’s no secret as to the president’s feelings towards Chairman Powell. Trump wants lower interest rates and a more accommodative Fed, and has been very vocal in saying that, to the extent that everyone is now saying Fed independence is at risk. And look, it might be, but it’s not like we haven’t been here before,” he said.

A prime example, said Rozencwajg, occurred alongside the Vietnam War in the mid-1960s. President Lyndon B. Johnson bullied Fed Chair William Martin (the longest tenured Fed chair and a man whose father helped draft the Federal Reserve Act) into keeping interest rates low to help the government fund not only the Vietnam War but also social welfare programs at home without the need to upset the voting public with tax hikes.

When Martin didn’t get on board with Lyndon’s “guns and butter” economic policies, the then-president reportedly threatened to replace Martin as Fed chair, cut the Fed’s budget and suffocate it with audits.

At first stalwart in his fight to preserve the value of the dollar, Martin eventually capitulated by delaying further hikes before eventually cutting rates and keeping them low. In doing so, he planted the seed for what’s now called the “Great Inflation.” Between 1965 and 1980, the annual average US inflation rate rose from 1.6 percent to a peak of 13.5 percent.

Lyndon’s successor Richard Nixon is another prime example of a US president bullying the Fed to lower rates in order to advance politically with disastrous consequences.

This time the Fed chair was Arthur Burns, another believer in the importance of Fed independence. However, Nixon felt Burns owed him a debt of loyalty for making him an economic advisor and later appointing him as Fed chair. Heading into the 1972 election season, Nixon wanted Burns to lower rates in order to juice the economy in the short-term.

“I respect Burns’s independence. But I hope that independently he will conclude that my views are the ones that should be followed,” said Nixon, who also used US Treasury Security John Connally to further put the squeeze on Burns.

Like Martin, he would eventually cave by slashing rates and expanding the money supply far above the Fed’s stated targets. This led to what’s known as the “Nixon Shock,” which brought about the collapse of the Bretton Woods system of fixed exchange rates and ended the convertibility of US dollars into gold.

This resulted in the devaluation of the US dollar and ultimately sank the economy deeper into the Great Inflation to the point that stagflation (inflation + no economic growth) took hold.

“(Arthur Burns) had a tough job and was under a huge amount of pressure, and was a very astute economist and Fed chairman,” said Rozencwajg. “But nevertheless, he probably wins the award for the worst Fed chairman in history, just because he was there and it all happened under his watch.”

Once decoupled from the dollar, the price of gold surged from the decades-long fixed price of US$35 per ounce under the Bretton Woods system to more than US$600 by the spring of 1980. The gold price would manage to retain that level for much of the year before starting a downward slide to half that value by mid-1982. The yellow metal would not achieve that high again until the spring of 2006 on renewed inflationary fears and a weaker US dollar.

To tame the inflation beast of the 1970s, Fed Chair Paul Volcker (serving from 1979 to 1987) had to raise interest rates to 20 percent. While his plan, known as the “Volker Shock,” did eventually curb inflation down to 3 percent by 1983, it also brought about two recessions and unemployment over 10 percent.

Trump to replace Powell with political loyalist

A modern day example of the executive branch threatening the independence of the Fed is now playing out for us to watch in real time. Today, the players are Trump and Powell. This time, the president is pushing the Fed chair to lower rates at a faster pace in order to support his tariff-based economic policies as the threat of stagflation looms.

Powell’s comments following the 0.25 percent rate cut on October 29 show he isn’t likely to play ball. “In the committee’s discussions at this meeting, there were strongly differing views about how to proceed in December,” he said. “A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it.”

Rozencwajg believes Powell wants to be remembered in the same vein as Volcker, not as Burns. “But there’s a third option, which I don’t think anyone’s really considered, which is that he’ll go down as Martin, the guy who tried his best and ultimately was pressured out and whose views were then completely undone in the chairmanship after,” he added.

By the end of this year, Trump intends to announce a replacement for Powell, whose term expires in May 2026. Echoing LBJ and Nixon’s threats to the Fed, Trump exclaimed at a business leaders dinner in Tokyo in October, “We have an incompetent head of the Fed … but he’ll be out of there in a few months, and we’ll get somebody new’.

US Secretary of the Treasury Scott Bessent has announced a shortlist of candidates to take the stop spot, including Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh and BlackRock (NYSE:BLK) executive Rick Rieder.

“In the 1970s they didn’t believe that the money supply was responsible for higher prices in the economy, and the current Fed doesn’t believe that their own policies of printing money are responsible for increased prices,” he said. “There were some very dovish people appointed to the Fed in the 1970s who allowed politicians to strong arm them into dovish low interest rate policies … President Obama, President Biden and now President Trump are loading up the Federal Reserve with monetary doves who will cut interest rates and expand the money supply at the drop of a hat.”

Regardless, Powell’s days at the Fed are numbered. “President Trump’s going to replace him with another dove, who’s going to be even more aggressive with monetary policy,” said Thornton.

Both Thornton and Rozencwajg believe the bull market for gold has much further to go. With another dove at the helm of the Fed, lower interest rates are on the horizon. Lower interest rates make gold a much more attractive investment option than yield-bearing assets. The promise of higher inflation and continued economic uncertainty will also likely continue incentivizing both investors and central banks to pile into safe-haven gold.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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China Grants Conditional Approval to Codelco-SQM Lithium Joint Venture

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Chile’s state-owned copper giant Corporación Nacional Del Cobre de Chile (Codelco) and local lithium producer Sociedad Quimica y Minera (SQM) (NYSE:SQM) cleared the final major hurdle for a long-planned partnership after China’s antitrust regulator granted conditional approval to the venture.

The green light allows the joint venture to move forward, pending formal authorization from Chile’s comptroller, which is widely expected by year-end.

The joint venture will operate in Chile’s Salar de Atacama, one of the richest lithium brine sources globally, to provide critical components for electric vehicles and battery storage.

China’s State Administration for Market Regulation said in a statement that Codelco and SQM must continue supplying Chinese customers on “fair, reasonable and non-discriminatory” terms, honoring existing commitments.

The regulator also required the companies to avoid sharing sensitive information with competitors and to follow specified corporate governance practices.

“In the event of a major supply change, both sides should make reasonable and best efforts to continue the supply of lithium carbonate products to Chinese customers … they should not turn down, restrict or delay supply to Chinese clients,” the statement added. Details of the conditions were kept confidential.

The joint venture will operate in two phases. SQM will oversee management through 2030, after which Codelco will take control for the remaining 30 years.

Codelco will contribute a production quota of up to 300,000 metric tons to the venture, while current output remains below 200,000 metric tons. Production gains are expected to come from technological improvements and efficiency measures rather than expanded brine extraction.

Analysts say the partnership could provide greater supply certainty to battery makers, even as lithium prices remain more than 80 percent below their late-2022 peak amid a global surplus.

Chile’s Economy Minister Álvaro Garcia said in August that he expected the deal to close before the current administration leaves office in 2026.

Multiple international regulators, including those in the European Union, Brazil, Japan, South Korea and Saudi Arabia, have already signed off.

For China, securing supply from Chile remains critical. The antitrust conditions reflect Beijing’s interest in maintaining steady imports while preventing the venture from disrupting market prices.

Currently, China is the world’s largest battery metal consumer and a major buyer of Chilean lithium.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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SAGA Metals Commences Drilling Campaign to Advance Mineral Resource Estimate at Radar Project in Labrador

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Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company advancing critical mineral discoveries, is pleased to announce the commencement of Phase 1 diamond drilling at the high-priority Trapper Zone on its 100%-owned Radar Titanium-Vanadium-Iron (‘Ti-V-Fe’) Project located near Cartwright, Labrador. This marks a significant milestone in advancing the Trapper Zone toward a maiden indicated Mineral Resource Estimate (‘MRE’), building on the successful maiden drill program completed earlier this year at the adjacent Hawkeye Zone.

Highlights

  • Drilling Underway : Phase 1 of the 2025-2026 program has officially begun with the first hole spudded with a Duralite 800 diamond drill, targeting the main oxide layer along the 3.3 km continuous magnetic anomaly identified through regional aeromagnetic surveys and ground geophysical follow-up.
  • Program Scope : Up to 15,000 metres of NQ-diameter diamond drilling planned across approximately 25-30 holes, with an average depth of 250-300 metres per hole, focused on delineating the rhythmic oxide layering of vanadiferous titanomagnetite (‘VTM’) mineralization along the Trapper Zone’s strike length.
  • Proven Contractor : Gladiator Drilling Inc., the same experienced team that successfully executed SAGA’s 2025 maiden program at the Hawkeye Zone—intersecting notable TiO₂, V 2 O 5 and Fe₂O₃ grades—has been retained to ensure efficient operations for this robust program.
  • Target Generation : Drill targets refined from integrated geophysical surveys; (magnetic & VLF), geochemical soil and rock sampling, and structural mapping data, highlighting a thick VTM layer running through the zone with potential for high-grade titanium, vanadium, and iron endowments comparable to global analogs like China’s Panzhihua deposit.
  • Strategic Focus : Initial holes will test both North and South sections of the Trapper Zone to constrain grade, width, and structural continuity, informing a maiden MRE expected in H2 2026 and supporting preliminary metallurgical test work.

Gladiator Drilling

Figure 1: Gladiator Drilling’s Duralite 800 diamond drill shack setup in the Trapper Zone at the Radar Project.

Drill Program Details

Drilling at Trapper will employ oriented NQ core (47.6 mm diameter) to capture detailed structural data, including specialized survey tools from IMDEX to collect structural geology information. The program prioritizes 100-meter spaced section drilling across the high magnetic anomalies from the 2025 summer field program.

Trapper Zone Hole 1 (Azimuth 38°, Dip -45°) : Initial 250-meter hole testing the central oxide layer concentrated through the nose of the fold in the northern section of the Trapper zone.

  • Subsequent Holes : Section drilling will expand section across and along strike in Trapper North before moving to Trapper South; where Saga will target a wide drill section across the multi magnetic linear trends as expressed by magnetics.
  • Phased Approach: Phase 1 (1,500-2,500 meters) focuses on at least two definitive sections; one in Trapper North and the other in Trapper South before winter break, with Phase 2 resuming in Q1 2026 to cover the full extent.

All cores will assay for major element oxides by lithium metaborate–tetraborate fusion followed by X-ray fluorescence spectrometry (LiBO₂–Li₂B₄O₇ fusion–XRF finish) to better test the distribution of vanadiferous titanomagnetite and ilmenite.

Radar Project, Trapper Zone: shown is a 3+ km Total Magnetic Intensity (TMI) anomaly from the 2025 ground survey and the inferred oxide layering trend. The Trapper Trail (in black) will be the target of the planned 15,000 m diamond drilling program aimed at establishing Saga

Figure 2: Radar Project, Trapper Zone: shown is a 3+ km Total Magnetic Intensity (TMI) anomaly from the 2025 ground survey and the inferred oxide layering trend. The Trapper Trail (in black) will be the target of the planned 15,000 m diamond drilling program aimed at establishing Saga’s maiden mineral resource estimation.

Drill Program Objectives:

The Phase 1 Trapper Zone drill campaign will target:

  • Grade continuity across a 3 km strike length.
  • Oxide layering widths and continuity to true depths of about 200 metres.
  • Integration of structural insights from trenching and drilling into collar orientation and drill design.
  • Initial drilling of 1,500-2,500 m in 6-10 holes, each about 250 m in depth will be completed before the December break.
  • Test both the North and South sections of the Trapper zone prior to the break in order to fully grasp grade, width and structure prior to initiating the detailed grid and drill sections in 2026 for the purposes of a mineral resource estimate.
  • Drilling will be complemented by metallurgical sampling through the winter, with core from both the Hawkeye and Trapper zones undergoing detailed metallurgical testing.

Radar Project

Figure 3: Radar Project’s prospective oxide layering zone extends for an inferred 20 km strike length, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs .

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.

Vanadiferous titanomagnetite (‘VTM’) mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.

‘There is a resounding positive energy flowing through the team, as the geologist, technicians and drillers have all worked tirelessly to commence drilling today. Leveraging the proven success of our Hawkeye program and Gladiator’s expertise, everyone on site knows the significance and the potential to unlock this incredible VTM opportunity,’ commented Michael Garagan, CGO & Director of Saga Metals. ‘The 3.3 km magnetic anomaly at Trapper mirrors the scale and geology of major deposits worldwide, and with critical minerals demand surging amid green energy transitions and domestic supply security rises—this program positions SAGA to deliver transformative results. Our systematic approach, from expert target refinement to integrated geophysics, has de-risked the zone for rapid resource definition and positions us for partnerships in Labrador’s mining renaissance.’

SAGA

Figure 4: SAGA’s geologist, Dylan McKeen, reviewing core from the Radar Project’s Hawkeye zone drilled earlier in 2025 as Gladiator’s begins drilling core from the Trapper zone.

Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information disclosed in this news release.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the North American transition to supply security. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

With a portfolio that spans key commodities crucial for the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company’s Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/7e93e4c5-6326-4dc5-9d54-eea80b537eed

https://www.globenewswire.com/NewsRoom/AttachmentNg/10dd4552-e987-4d15-93eb-d2400ea4ae6e

https://www.globenewswire.com/NewsRoom/AttachmentNg/1ccd1e03-ac41-4e72-acf9-a6b6e1ef87b7

https://www.globenewswire.com/NewsRoom/AttachmentNg/8b631fa1-e6a1-4119-8b96-6c6ec185e9f3

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1911 Gold Intersects up to 24.83 g/t Gold over 2.60 m on San Antonio West at the True North Gold Project

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 1911 Gold Corporation (‘1911 Gold’ or the ‘Company’) (TSXV: AUMB,OTC:AUMBF) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce new assay results from the surface drill program at the Company’s wholly-owned operational and fully permitted True North Gold Project (‘True North’), centrally located within the Company’s 100%-owned Rice Lake Gold property, southeast Manitoba, Canada. The latest assay results are from five (5) drill holes for 1,867 metres (‘m’) targeting the San Antonio West target (‘SAM W’).

 

Drilling* Highlights:

  • Surface drilling completed to date on the new SAM W target has confirmed quartz vein-hosted gold (‘Au’) mineralization to a depth of 630 m below surface
    • TN-25-064: Intersected 24.83 grams per tonne (‘g/t’) Au over 2.60 m (at 490.00 m), including 46.00 g/t Au over 1.00 m, including 63.20 g/t Au over 0.50 m, 28.80 g/t Au over 0.50 m and 32.40 g/t Au over 0.50 m
    • TN-25-067: Intersected 4.04 g/t Au over 5.80 m (at 467.60 m), including 23.90 g/t Au over 0.50 m and 6.12 g/t Au over 0.50 m
    • TN-25-071: Intersected 12.80 g/t Au over 0.80 m (at 473.50 m)
  • The drill holes targeting the SAM W down-dip extensions also intersected significant gold mineralization within an area defined as the Annex target (to the east and at shallower depths to SAM W), confirming historical gold mineralization defined in the area:
    • TN-25-061: Intersected 10.00 g/t Au over 0.50 m (at 247.80 m) and 8.75 g/t Au over 2.60 m (at 294.00 m), including 18.00 g/t Au over 1.00 m
    • TN-25-064: Intersected 2.94 g/t Au over 3.10 m (at 271.60 m), including 6.71 g/t Au over 1.00 m
    • TN-25-067: Intersected 5.23 g/t Au over 2.50 m (at 272.50 m), including 5.76 g/t Au over 2.00 m and 9.18 g/t Au over 0.50 m
    • TN-25-071: Intersected 6.73 g/t Au over 1.40 m (at 307.60 m), including 7.47 g/t Au over 0.90 m

* All drill results are quoted as downhole drill lengths, and downhole depth.

‘San Antonio West continues to deliver some of the best near-mine exploration results we’ve seen at True North,’ stated Shaun Heinrichs, President and CEO. ‘These high-grade intercepts demonstrate the strength of the True North mineralized system and highlights the continued opportunity to outline new zones of mineralization adjacent to existing infrastructure. With the transition to underground drilling, we will accelerate resource growth across multiple target areas building towards a sustainable restart of operations.’

1911 Gold has now completed seventy-five (75) surface drill holes, for a total of 20,398 m of drilling as part of the 2025 surface exploration drill program (the ‘2025 Surface Drill Program‘). The 2025 Surface Drill Program focused on new targets defined by favourable host rocks and mineralized structural settings within the True North Mine footprint, also supported by significant historical drill intercepts that were close to surface and existing infrastructure. The most recent phase of the program consisted of two drill rigs targeting the down-dip extensions of mineralization at the new high-grade San Antonio Southeast (‘SAM SE‘) and SAM W target areas, as well as the newly identified Shore target. The surface drilling program was completed on September 20, 2025, and these are the last assay results being reported for the program. Project activities have now shifted to underground exploration, resource expansion and resource delineation drilling. Underground drilling within the True North Mine commenced on October 1, 2025, with one (1) drill rig on Level 16 (695 m below surface) and a second drill rig added on November 6, 2025.

Plan View True North Geology with SAM W and Annex Drill Hole Locations (CNW Group/1911 Gold Corporation)

Cross Section Looking NNW SAM W and Annex Targets (CNW Group/1911 Gold Corporation)

*Along the Cartwright South shear zone projected to vertical, San Antonio drifts and shafts projected up to 250 m from the south-east

**For other drill results see press release dated June 10, 2025 (1911 Gold intersects up to 58.66 g/t Gold over 1.40 m on San Antonio West Zone at True North); April 30, 2025 (1911 Gold intersects 62.40 g/t Au over 1.00 m on San Antonio West Zone at True North) and February 4, 2025 (1911 Gold intersects 8.42 g/t Gold over 0.91 m and 7.23 g/t Gold over 1.05 m in Drilling at True North).

 

Table 1: Select Significant Drill Hole Assay Results

Target Area

(name)

Drill Hole

(number)

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

250.00

251.00

1.00

4.23

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

Annex

TN-25-064

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

SAM W

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

and

274.50

275.00

0.50

9.18

SAM W

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

497.20

497.70

0.50

4.88

Annex

TN-25-071

274.10

274.60

0.50

2.89

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

322.00

322.50

0.50

5.01

SAM W

TN-25-071

473.50

474.30

0.80

12.80

1)

Intercepts above a cut-off grade of 2.25 g/t Au

2)

Maximum of 2.50 m internal dilution and no top capping applied

3)

Intervals represent drill core length and are considered to represent 60% to 90% of true widths

4)

Full Significant Assay Results included in Table 2

5)

Drill hole Information included in Table 3

San Antonio West Target: Discussion of Results

Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 600 m northwest of the historically mined San Antonio zone, covering an area 400 m long and up to  630 m in depth. Twenty-six (26) surface drill holes, for a total of 6,087 m, were drilled on the SAM W target area as part of the 2025 program. The results of five (5) drill holes for 1,867 m are included in this press release, of which two (2) drill holes, TN-25-061 (311 m downhole depth) and TN-25-071A (30 m downhole depth), did not reach target depths and were abandoned due to hole deviation.

Drilling on the SAM W target confirmed the presence of a vein system parallel to the historical San Antonio ore body, which shares the same geology, alteration, and mineralization characteristics. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and pyrite disseminated and in veinlets developed in association with east and northwest trending shear zone corridors.

Drill hole TN-25-064 tested the down-dip extensions of the modelled SAM W target area. Drilling successfully intercepted high-grade gold mineralization with the best intercept of 2.60 m @ 24.83 g/t Au (at 490.00 m downhole depth).

Drill hole TN-25-067 tested the 100 m down-dip extension of gold mineralization intersected in hole TN-25-058 (0.50 m @ 10.40 g/t Au), and intersected two distinct gold mineralized veins including 0.50 m @ 10.40 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).

Drill hole TN-25-71 was designed to test 100 m west of gold mineralization intersected in drill hole TN-25-060 (2.60 m @ 24.83 g/t Au), and intersected 0.80 m @ 12.80 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).  

Annex Target: Discussion of Results

Drilling completed on the Annex target defined high-grade gold mineralization within a dacitic volcaniclastic unit. The gold mineralization is associated with well-developed quartz shear veins and vein breccias within a carbonate, sericite +/- chlorite alteration assemblage and disseminated and veinlet-hosted pyrite and occasionally specs of native gold.

Drill hole TN-25-061 intercepted 0.50 m @ 10.00 g/t Au (at 247.30 m downhole depth) and 2.60 m @ 8.75 g/t Au (at 293.70 m downhole depth), including 1.00 m @ 18.00 g/t Au (at 295.30 m downhole depth).

Drill hole TN-25-064 intercepted 3.10 m @ 2.94 g/t Au (at 271.60 m downhole depth), including 1.00 m @ 6.71 g/t Au (at 273.70 m downhole depth).

Drill hole TN-25-067 intercepted 2.50 m @ 5.23 g/t Au (at 272.50 m downhole depth), including 2.00 m @ 5.76 g/t Au (at 273.70 m downhole depth), and 0.50 m @ 9.18 g/t Au (at 274.50 m downhole depth).

Drill hole TN-25-071 intercepted 1.40 m @ 6.73 g/t Au (at 307.60 m downhole depth), including 0.90 m @ 7.47 g/t Au.

The high-grade nature and width of the drill intercepts and the preliminary size of the area drilled (120 m on strike and 160 m vertically and open up and down dip) represent an additional emerging target within the mine footprint. Upon modelling, this area could be further drilled from surface to define a potential new ore source in close proximity of the True North Mine infrastructure.

Long Section Looking ENE SAM W Target (CNW Group/1911 Gold Corporation)

San Antonio West Target

The SAM W target is located west of the historically mined San Antonio zone within the True North Mine. The SAM W target occurs within the gabbro of the San Antonio mafic unit and the intersection with the Cartwright South mineralized shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au from San Antonio (see technical report entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada, dated December 23. 2024). 

Annex Target

The Annex target is located 300 m east of the Cartwright Zone and 1 kilometre (‘km‘) northwest of the Hinge deposit, and was first intersected in a 2012 and 2013 surface exploration drilling program. The target is located at the intersection of the Cartwright South shear zone with a dacitic volcanoclastic unit, potentially the northwest extension of the host unit of the Hinge deposit, and covers an area with a 120 m east-west strike length by 160 m vertically, and is open both along strike and at depth. Additional interpretation is ongoing to model the extent of the mineralized zone to assess up-side potential.

Long Section Looking ENE Expanded View of SAM W with Drill Intercepts (CNW Group/1911 Gold Corporation)

*Historic drill holes referenced on Table 4 and 5 below

Isometric View Looking NNE SAM W Target with High Grade Gold Intercepts (CNW Group/1911 Gold Corporation)

Next Steps

With the latest phase of surface drilling within the mine lease completed in late September, the Company has shifted its focus to an expanded underground drill campaign within the True North Mine footprint. Two (2) underground drill rigs are currently active on Level 16, an area that provides multiple favourable drill stations and immediate access to high-priority targets. Underground drilling is designed to continue testing the down-dip extensions of the SAM W,  SAM SE and Shore discoveries, as well as evaluating several newly defined exploration targets (see press release dated September 25, 2025). The program will also include delineation drilling of two test mining areas accessible from Level 16 and  drill testing the extensions of the current resource.

Rehabilitation work will also commence in two key areas over the coming months: the L13 deposit area, accessed by a ramp from the Hinge decline, and Level 6, a previously unsurveyed level located 262 m below surface, extending northwest from the A Shaft of the historical San Antonio workings. The L13 area will provide improved access to drill the down-dip extensions of the SAM SE target, while rehabilitation on Level 6 will support continued drilling of the SAM W target and potential drilling of the Cartwright Zone to the west, an area hosting a mineral resource open-at-depth. Additional surface drilling is currently being planned to continue testing the SAM W and Shore targets over the winter.

Concurrently, the Company is advancing permitting for a 2,200 m surface drill program at Ogama-Rockland, a near-surface target with a high-grade NI 43-101 mineral resource, located 35 km southeast of the True North complex (see Technical Report dated November 15, 2013, ‘A Technical Review of the Ogama-Rockland Deposit on the Rice Lake Property, Manitoba, Canada,’ prepared by Watts, Griffis and McOuat). The Company expects to receive approval to commence drilling in the coming weeks, which would allow the program to begin before year-end.

Table 2: True North; Select Drill Hole Assays

Target Area

(name)

Drill Hole

(number)

  From

     (m)

    To

    (m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

249.00

250.00

1.00

0.59

250.00

251.00

1.00

4.23

251.00

253.60

2.60

1.84

261.60

262.20

0.60

0.55

288.70

289.20

0.50

1.35

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

297.00

297.50

0.50

0.51

300.20

300.70

0.50

0.71

301.90

303.00

1.10

0.65

Annex

TN-25-064

260.30

264.00

3.70

1.02

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

311.30

312.40

1.10

0.66

315.50

317.30

1.80

0.96

483.90

485.90

2.00

1.08

487.00

488.00

1.00

1.93

SAM West

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

492.60

496.50

3.90

0.64

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

Including

273.00

273.50

0.50

6.43

and

273.50

274.00

0.50

6.79

and

274.50

275.00

0.50

9.18

275.50

276.00

0.50

1.19

285.10

286.60

1.50

2.01

446.60

447.50

0.90

0.62

SAM West

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

474.30

474.80

0.50

0.59

481.90

484.50

2.60

0.81

497.20

497.70

0.50

4.88

265.10

265.60

0.50

1.03

Annex

TN-25-071

274.10

274.60

0.50

2.89

277.70

279.00

1.30

0.63

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

318.50

319.90

1.40

1.42

322.00

322.50

0.50

5.01

322.50

323.60

1.10

1.17

328.30

328.80

0.50

1.93

406.30

407.00

0.70

0.54

466.50

467.40

0.90

2.24

469.10

470.10

1.00

0.51

473.00

473.50

0.50

0.59

SAM West

TN-25-071

473.50

474.30

0.80

12.80

475.30

476.80

1.50

0.77

*Composites above 0.5 g/t Au and metal factor above 0.5 Au ‘gxm’

 

Table 3: True North Drill Hole Details  (UTM NAD83 Zone 15)

Drill Hole
(Number)

Target  

(Name)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

TN-25-061

SAM West

5656302

312170

266

243

-56

311

TN-25-064

SAM West

5656307

312180

266

229

-71

509

TN-25-067

SAM West

5656308

312182

266

206

-58

516

TN-25-071A

SAM West

5656309

312179

266

249

-62

30

TN-25-071

SAM West

5656309

312180

266

249

-62

501

 

Table 4: Historic Drill Hole Details (UTM NAD83 Zone 15)

Drill Hole
(Number)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

CW-06-064

311685

5656239

261

172

-60

310

CW-06-069

311630

5655977

259

158

-50

182

CW-06-071

311630

5655977

259

167

-70

200

CW-06-073

311630

5655977

259

101

-50

215

GAB-28-014

311611

5655937

258

220

-45

20

GAB-36-005

311620

5655955

258

220

-60

53

GAB-60-012

311631

5655918

258

220

-65

65

GAB-6-010

311585

5655955

258

220

-50

66

GAB-7-007

311543

5656062

258

220

-50

115

UR-12-005

312153

5656301

266

240

-55

520

 

Table 5: Historic Drill Holes – Select Significant Drill Hole Assay Results*

Drill Hole

(number)

From

(m)

To

(m)

Composite
Interval

(m)

Au

(g/t)

CW-06-064

282.61

283.92

1.31

6.86

CW-06-069

73.67

77.05

3.38

7.93

CW-06-071

72.54

74.16

1.62

3.54

CW-06-073

192.33

194.28

1.95

4.05

GAB-6-010

10.67

11.46

0.79

10.97

GAB-7-007

104.55

105.55

1.01

28.11

GAB-28-014

16.46

18.20

1.74

6.54

GAB-36-005

46.33

49.41

3.08

9.80

GAB-60-012

45.35

46.33

0.98

8.91

UR-12-005

456.65

458.18

1.52

2.72

CW-06-064

282.61

283.92

1.31

6.86

* Refer to Technical Report dated December 23, 2024 entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada’

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera, P.Geo, Vice-President Exploration of 1911 Gold Corporation, who is a ‘Qualified Person’ as defined under NI 43-101.

Quality Assurance/Quality Controls (QA/QC)

Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values equal or greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America.

1911 Gold’s True North complex and the exploration land package are located within and among the First Nation communities of the Hollow Water First Nation and the Black River First Nation. 1911 Gold looks forward to maintaining open, cooperative, and respectful communications with all of our local communities and stakeholders to foster mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, the Company’s current business plans, including the underground drill program, and the timing and results thereof; development programs and the planned test mining program, leading towards a potential mine restart in 2027; the deployment of surface drills, and the receipt of permits to commence drilling at Ogama-Rockland, and the timing and results thereof; and generally, the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

1911 Gold Corporation TSXV: AUMB OTCQB: AUMBF FRA: 2KY (CNW Group/1911 Gold Corporation)

SOURCE 1911 Gold Corporation

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1911 Gold Intersects up to 24.83 g/t Gold over 2.60 m on San Antonio West at the True North Gold Project

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 1911 Gold Corporation (‘1911 Gold’ or the ‘Company’) (TSXV: AUMB,OTC:AUMBF) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce new assay results from the surface drill program at the Company’s wholly-owned operational and fully permitted True North Gold Project (‘True North’), centrally located within the Company’s 100%-owned Rice Lake Gold property, southeast Manitoba, Canada. The latest assay results are from five (5) drill holes for 1,867 metres (‘m’) targeting the San Antonio West target (‘SAM W’).

 

Drilling* Highlights:

  • Surface drilling completed to date on the new SAM W target has confirmed quartz vein-hosted gold (‘Au’) mineralization to a depth of 630 m below surface
    • TN-25-064: Intersected 24.83 grams per tonne (‘g/t’) Au over 2.60 m (at 490.00 m), including 46.00 g/t Au over 1.00 m, including 63.20 g/t Au over 0.50 m, 28.80 g/t Au over 0.50 m and 32.40 g/t Au over 0.50 m
    • TN-25-067: Intersected 4.04 g/t Au over 5.80 m (at 467.60 m), including 23.90 g/t Au over 0.50 m and 6.12 g/t Au over 0.50 m
    • TN-25-071: Intersected 12.80 g/t Au over 0.80 m (at 473.50 m)
  • The drill holes targeting the SAM W down-dip extensions also intersected significant gold mineralization within an area defined as the Annex target (to the east and at shallower depths to SAM W), confirming historical gold mineralization defined in the area:
    • TN-25-061: Intersected 10.00 g/t Au over 0.50 m (at 247.80 m) and 8.75 g/t Au over 2.60 m (at 294.00 m), including 18.00 g/t Au over 1.00 m
    • TN-25-064: Intersected 2.94 g/t Au over 3.10 m (at 271.60 m), including 6.71 g/t Au over 1.00 m
    • TN-25-067: Intersected 5.23 g/t Au over 2.50 m (at 272.50 m), including 5.76 g/t Au over 2.00 m and 9.18 g/t Au over 0.50 m
    • TN-25-071: Intersected 6.73 g/t Au over 1.40 m (at 307.60 m), including 7.47 g/t Au over 0.90 m

* All drill results are quoted as downhole drill lengths, and downhole depth.

‘San Antonio West continues to deliver some of the best near-mine exploration results we’ve seen at True North,’ stated Shaun Heinrichs, President and CEO. ‘These high-grade intercepts demonstrate the strength of the True North mineralized system and highlights the continued opportunity to outline new zones of mineralization adjacent to existing infrastructure. With the transition to underground drilling, we will accelerate resource growth across multiple target areas building towards a sustainable restart of operations.’

1911 Gold has now completed seventy-five (75) surface drill holes, for a total of 20,398 m of drilling as part of the 2025 surface exploration drill program (the ‘2025 Surface Drill Program‘). The 2025 Surface Drill Program focused on new targets defined by favourable host rocks and mineralized structural settings within the True North Mine footprint, also supported by significant historical drill intercepts that were close to surface and existing infrastructure. The most recent phase of the program consisted of two drill rigs targeting the down-dip extensions of mineralization at the new high-grade San Antonio Southeast (‘SAM SE‘) and SAM W target areas, as well as the newly identified Shore target. The surface drilling program was completed on September 20, 2025, and these are the last assay results being reported for the program. Project activities have now shifted to underground exploration, resource expansion and resource delineation drilling. Underground drilling within the True North Mine commenced on October 1, 2025, with one (1) drill rig on Level 16 (695 m below surface) and a second drill rig added on November 6, 2025.

Plan View True North Geology with SAM W and Annex Drill Hole Locations (CNW Group/1911 Gold Corporation)

Cross Section Looking NNW SAM W and Annex Targets (CNW Group/1911 Gold Corporation)

*Along the Cartwright South shear zone projected to vertical, San Antonio drifts and shafts projected up to 250 m from the south-east

**For other drill results see press release dated June 10, 2025 (1911 Gold intersects up to 58.66 g/t Gold over 1.40 m on San Antonio West Zone at True North); April 30, 2025 (1911 Gold intersects 62.40 g/t Au over 1.00 m on San Antonio West Zone at True North) and February 4, 2025 (1911 Gold intersects 8.42 g/t Gold over 0.91 m and 7.23 g/t Gold over 1.05 m in Drilling at True North).

 

Table 1: Select Significant Drill Hole Assay Results

Target Area

(name)

Drill Hole

(number)

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

250.00

251.00

1.00

4.23

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

Annex

TN-25-064

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

SAM W

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

and

274.50

275.00

0.50

9.18

SAM W

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

497.20

497.70

0.50

4.88

Annex

TN-25-071

274.10

274.60

0.50

2.89

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

322.00

322.50

0.50

5.01

SAM W

TN-25-071

473.50

474.30

0.80

12.80

1)

Intercepts above a cut-off grade of 2.25 g/t Au

2)

Maximum of 2.50 m internal dilution and no top capping applied

3)

Intervals represent drill core length and are considered to represent 60% to 90% of true widths

4)

Full Significant Assay Results included in Table 2

5)

Drill hole Information included in Table 3

San Antonio West Target: Discussion of Results

Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 600 m northwest of the historically mined San Antonio zone, covering an area 400 m long and up to  630 m in depth. Twenty-six (26) surface drill holes, for a total of 6,087 m, were drilled on the SAM W target area as part of the 2025 program. The results of five (5) drill holes for 1,867 m are included in this press release, of which two (2) drill holes, TN-25-061 (311 m downhole depth) and TN-25-071A (30 m downhole depth), did not reach target depths and were abandoned due to hole deviation.

Drilling on the SAM W target confirmed the presence of a vein system parallel to the historical San Antonio ore body, which shares the same geology, alteration, and mineralization characteristics. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and pyrite disseminated and in veinlets developed in association with east and northwest trending shear zone corridors.

Drill hole TN-25-064 tested the down-dip extensions of the modelled SAM W target area. Drilling successfully intercepted high-grade gold mineralization with the best intercept of 2.60 m @ 24.83 g/t Au (at 490.00 m downhole depth).

Drill hole TN-25-067 tested the 100 m down-dip extension of gold mineralization intersected in hole TN-25-058 (0.50 m @ 10.40 g/t Au), and intersected two distinct gold mineralized veins including 0.50 m @ 10.40 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).

Drill hole TN-25-71 was designed to test 100 m west of gold mineralization intersected in drill hole TN-25-060 (2.60 m @ 24.83 g/t Au), and intersected 0.80 m @ 12.80 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).  

Annex Target: Discussion of Results

Drilling completed on the Annex target defined high-grade gold mineralization within a dacitic volcaniclastic unit. The gold mineralization is associated with well-developed quartz shear veins and vein breccias within a carbonate, sericite +/- chlorite alteration assemblage and disseminated and veinlet-hosted pyrite and occasionally specs of native gold.

Drill hole TN-25-061 intercepted 0.50 m @ 10.00 g/t Au (at 247.30 m downhole depth) and 2.60 m @ 8.75 g/t Au (at 293.70 m downhole depth), including 1.00 m @ 18.00 g/t Au (at 295.30 m downhole depth).

Drill hole TN-25-064 intercepted 3.10 m @ 2.94 g/t Au (at 271.60 m downhole depth), including 1.00 m @ 6.71 g/t Au (at 273.70 m downhole depth).

Drill hole TN-25-067 intercepted 2.50 m @ 5.23 g/t Au (at 272.50 m downhole depth), including 2.00 m @ 5.76 g/t Au (at 273.70 m downhole depth), and 0.50 m @ 9.18 g/t Au (at 274.50 m downhole depth).

Drill hole TN-25-071 intercepted 1.40 m @ 6.73 g/t Au (at 307.60 m downhole depth), including 0.90 m @ 7.47 g/t Au.

The high-grade nature and width of the drill intercepts and the preliminary size of the area drilled (120 m on strike and 160 m vertically and open up and down dip) represent an additional emerging target within the mine footprint. Upon modelling, this area could be further drilled from surface to define a potential new ore source in close proximity of the True North Mine infrastructure.

Long Section Looking ENE SAM W Target (CNW Group/1911 Gold Corporation)

San Antonio West Target

The SAM W target is located west of the historically mined San Antonio zone within the True North Mine. The SAM W target occurs within the gabbro of the San Antonio mafic unit and the intersection with the Cartwright South mineralized shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au from San Antonio (see technical report entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada, dated December 23. 2024). 

Annex Target

The Annex target is located 300 m east of the Cartwright Zone and 1 kilometre (‘km‘) northwest of the Hinge deposit, and was first intersected in a 2012 and 2013 surface exploration drilling program. The target is located at the intersection of the Cartwright South shear zone with a dacitic volcanoclastic unit, potentially the northwest extension of the host unit of the Hinge deposit, and covers an area with a 120 m east-west strike length by 160 m vertically, and is open both along strike and at depth. Additional interpretation is ongoing to model the extent of the mineralized zone to assess up-side potential.

Long Section Looking ENE Expanded View of SAM W with Drill Intercepts (CNW Group/1911 Gold Corporation)

*Historic drill holes referenced on Table 4 and 5 below

Isometric View Looking NNE SAM W Target with High Grade Gold Intercepts (CNW Group/1911 Gold Corporation)

Next Steps

With the latest phase of surface drilling within the mine lease completed in late September, the Company has shifted its focus to an expanded underground drill campaign within the True North Mine footprint. Two (2) underground drill rigs are currently active on Level 16, an area that provides multiple favourable drill stations and immediate access to high-priority targets. Underground drilling is designed to continue testing the down-dip extensions of the SAM W,  SAM SE and Shore discoveries, as well as evaluating several newly defined exploration targets (see press release dated September 25, 2025). The program will also include delineation drilling of two test mining areas accessible from Level 16 and  drill testing the extensions of the current resource.

Rehabilitation work will also commence in two key areas over the coming months: the L13 deposit area, accessed by a ramp from the Hinge decline, and Level 6, a previously unsurveyed level located 262 m below surface, extending northwest from the A Shaft of the historical San Antonio workings. The L13 area will provide improved access to drill the down-dip extensions of the SAM SE target, while rehabilitation on Level 6 will support continued drilling of the SAM W target and potential drilling of the Cartwright Zone to the west, an area hosting a mineral resource open-at-depth. Additional surface drilling is currently being planned to continue testing the SAM W and Shore targets over the winter.

Concurrently, the Company is advancing permitting for a 2,200 m surface drill program at Ogama-Rockland, a near-surface target with a high-grade NI 43-101 mineral resource, located 35 km southeast of the True North complex (see Technical Report dated November 15, 2013, ‘A Technical Review of the Ogama-Rockland Deposit on the Rice Lake Property, Manitoba, Canada,’ prepared by Watts, Griffis and McOuat). The Company expects to receive approval to commence drilling in the coming weeks, which would allow the program to begin before year-end.

Table 2: True North; Select Drill Hole Assays

Target Area

(name)

Drill Hole

(number)

  From

     (m)

    To

    (m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

249.00

250.00

1.00

0.59

250.00

251.00

1.00

4.23

251.00

253.60

2.60

1.84

261.60

262.20

0.60

0.55

288.70

289.20

0.50

1.35

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

297.00

297.50

0.50

0.51

300.20

300.70

0.50

0.71

301.90

303.00

1.10

0.65

Annex

TN-25-064

260.30

264.00

3.70

1.02

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

311.30

312.40

1.10

0.66

315.50

317.30

1.80

0.96

483.90

485.90

2.00

1.08

487.00

488.00

1.00

1.93

SAM West

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

492.60

496.50

3.90

0.64

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

Including

273.00

273.50

0.50

6.43

and

273.50

274.00

0.50

6.79

and

274.50

275.00

0.50

9.18

275.50

276.00

0.50

1.19

285.10

286.60

1.50

2.01

446.60

447.50

0.90

0.62

SAM West

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

474.30

474.80

0.50

0.59

481.90

484.50

2.60

0.81

497.20

497.70

0.50

4.88

265.10

265.60

0.50

1.03

Annex

TN-25-071

274.10

274.60

0.50

2.89

277.70

279.00

1.30

0.63

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

318.50

319.90

1.40

1.42

322.00

322.50

0.50

5.01

322.50

323.60

1.10

1.17

328.30

328.80

0.50

1.93

406.30

407.00

0.70

0.54

466.50

467.40

0.90

2.24

469.10

470.10

1.00

0.51

473.00

473.50

0.50

0.59

SAM West

TN-25-071

473.50

474.30

0.80

12.80

475.30

476.80

1.50

0.77

*Composites above 0.5 g/t Au and metal factor above 0.5 Au ‘gxm’

 

Table 3: True North Drill Hole Details  (UTM NAD83 Zone 15)

Drill Hole
(Number)

Target  

(Name)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

TN-25-061

SAM West

5656302

312170

266

243

-56

311

TN-25-064

SAM West

5656307

312180

266

229

-71

509

TN-25-067

SAM West

5656308

312182

266

206

-58

516

TN-25-071A

SAM West

5656309

312179

266

249

-62

30

TN-25-071

SAM West

5656309

312180

266

249

-62

501

 

Table 4: Historic Drill Hole Details (UTM NAD83 Zone 15)

Drill Hole
(Number)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

CW-06-064

311685

5656239

261

172

-60

310

CW-06-069

311630

5655977

259

158

-50

182

CW-06-071

311630

5655977

259

167

-70

200

CW-06-073

311630

5655977

259

101

-50

215

GAB-28-014

311611

5655937

258

220

-45

20

GAB-36-005

311620

5655955

258

220

-60

53

GAB-60-012

311631

5655918

258

220

-65

65

GAB-6-010

311585

5655955

258

220

-50

66

GAB-7-007

311543

5656062

258

220

-50

115

UR-12-005

312153

5656301

266

240

-55

520

 

Table 5: Historic Drill Holes – Select Significant Drill Hole Assay Results*

Drill Hole

(number)

From

(m)

To

(m)

Composite
Interval

(m)

Au

(g/t)

CW-06-064

282.61

283.92

1.31

6.86

CW-06-069

73.67

77.05

3.38

7.93

CW-06-071

72.54

74.16

1.62

3.54

CW-06-073

192.33

194.28

1.95

4.05

GAB-6-010

10.67

11.46

0.79

10.97

GAB-7-007

104.55

105.55

1.01

28.11

GAB-28-014

16.46

18.20

1.74

6.54

GAB-36-005

46.33

49.41

3.08

9.80

GAB-60-012

45.35

46.33

0.98

8.91

UR-12-005

456.65

458.18

1.52

2.72

CW-06-064

282.61

283.92

1.31

6.86

* Refer to Technical Report dated December 23, 2024 entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada’

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera, P.Geo, Vice-President Exploration of 1911 Gold Corporation, who is a ‘Qualified Person’ as defined under NI 43-101.

Quality Assurance/Quality Controls (QA/QC)

Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values equal or greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America.

1911 Gold’s True North complex and the exploration land package are located within and among the First Nation communities of the Hollow Water First Nation and the Black River First Nation. 1911 Gold looks forward to maintaining open, cooperative, and respectful communications with all of our local communities and stakeholders to foster mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, the Company’s current business plans, including the underground drill program, and the timing and results thereof; development programs and the planned test mining program, leading towards a potential mine restart in 2027; the deployment of surface drills, and the receipt of permits to commence drilling at Ogama-Rockland, and the timing and results thereof; and generally, the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

1911 Gold Corporation TSXV: AUMB OTCQB: AUMBF FRA: 2KY (CNW Group/1911 Gold Corporation)

SOURCE 1911 Gold Corporation

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1911 Gold Intersects up to 24.83 g/t Gold over 2.60 m on San Antonio West at the True North Gold Project

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 1911 Gold Corporation (‘1911 Gold’ or the ‘Company’) (TSXV: AUMB,OTC:AUMBF) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce new assay results from the surface drill program at the Company’s wholly-owned operational and fully permitted True North Gold Project (‘True North’), centrally located within the Company’s 100%-owned Rice Lake Gold property, southeast Manitoba, Canada. The latest assay results are from five (5) drill holes for 1,867 metres (‘m’) targeting the San Antonio West target (‘SAM W’).

 

Drilling* Highlights:

  • Surface drilling completed to date on the new SAM W target has confirmed quartz vein-hosted gold (‘Au’) mineralization to a depth of 630 m below surface
    • TN-25-064: Intersected 24.83 grams per tonne (‘g/t’) Au over 2.60 m (at 490.00 m), including 46.00 g/t Au over 1.00 m, including 63.20 g/t Au over 0.50 m, 28.80 g/t Au over 0.50 m and 32.40 g/t Au over 0.50 m
    • TN-25-067: Intersected 4.04 g/t Au over 5.80 m (at 467.60 m), including 23.90 g/t Au over 0.50 m and 6.12 g/t Au over 0.50 m
    • TN-25-071: Intersected 12.80 g/t Au over 0.80 m (at 473.50 m)
  • The drill holes targeting the SAM W down-dip extensions also intersected significant gold mineralization within an area defined as the Annex target (to the east and at shallower depths to SAM W), confirming historical gold mineralization defined in the area:
    • TN-25-061: Intersected 10.00 g/t Au over 0.50 m (at 247.80 m) and 8.75 g/t Au over 2.60 m (at 294.00 m), including 18.00 g/t Au over 1.00 m
    • TN-25-064: Intersected 2.94 g/t Au over 3.10 m (at 271.60 m), including 6.71 g/t Au over 1.00 m
    • TN-25-067: Intersected 5.23 g/t Au over 2.50 m (at 272.50 m), including 5.76 g/t Au over 2.00 m and 9.18 g/t Au over 0.50 m
    • TN-25-071: Intersected 6.73 g/t Au over 1.40 m (at 307.60 m), including 7.47 g/t Au over 0.90 m

* All drill results are quoted as downhole drill lengths, and downhole depth.

‘San Antonio West continues to deliver some of the best near-mine exploration results we’ve seen at True North,’ stated Shaun Heinrichs, President and CEO. ‘These high-grade intercepts demonstrate the strength of the True North mineralized system and highlights the continued opportunity to outline new zones of mineralization adjacent to existing infrastructure. With the transition to underground drilling, we will accelerate resource growth across multiple target areas building towards a sustainable restart of operations.’

1911 Gold has now completed seventy-five (75) surface drill holes, for a total of 20,398 m of drilling as part of the 2025 surface exploration drill program (the ‘2025 Surface Drill Program‘). The 2025 Surface Drill Program focused on new targets defined by favourable host rocks and mineralized structural settings within the True North Mine footprint, also supported by significant historical drill intercepts that were close to surface and existing infrastructure. The most recent phase of the program consisted of two drill rigs targeting the down-dip extensions of mineralization at the new high-grade San Antonio Southeast (‘SAM SE‘) and SAM W target areas, as well as the newly identified Shore target. The surface drilling program was completed on September 20, 2025, and these are the last assay results being reported for the program. Project activities have now shifted to underground exploration, resource expansion and resource delineation drilling. Underground drilling within the True North Mine commenced on October 1, 2025, with one (1) drill rig on Level 16 (695 m below surface) and a second drill rig added on November 6, 2025.

Plan View True North Geology with SAM W and Annex Drill Hole Locations (CNW Group/1911 Gold Corporation)

Cross Section Looking NNW SAM W and Annex Targets (CNW Group/1911 Gold Corporation)

*Along the Cartwright South shear zone projected to vertical, San Antonio drifts and shafts projected up to 250 m from the south-east

**For other drill results see press release dated June 10, 2025 (1911 Gold intersects up to 58.66 g/t Gold over 1.40 m on San Antonio West Zone at True North); April 30, 2025 (1911 Gold intersects 62.40 g/t Au over 1.00 m on San Antonio West Zone at True North) and February 4, 2025 (1911 Gold intersects 8.42 g/t Gold over 0.91 m and 7.23 g/t Gold over 1.05 m in Drilling at True North).

 

Table 1: Select Significant Drill Hole Assay Results

Target Area

(name)

Drill Hole

(number)

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

250.00

251.00

1.00

4.23

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

Annex

TN-25-064

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

SAM W

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

and

274.50

275.00

0.50

9.18

SAM W

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

497.20

497.70

0.50

4.88

Annex

TN-25-071

274.10

274.60

0.50

2.89

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

322.00

322.50

0.50

5.01

SAM W

TN-25-071

473.50

474.30

0.80

12.80

1)

Intercepts above a cut-off grade of 2.25 g/t Au

2)

Maximum of 2.50 m internal dilution and no top capping applied

3)

Intervals represent drill core length and are considered to represent 60% to 90% of true widths

4)

Full Significant Assay Results included in Table 2

5)

Drill hole Information included in Table 3

San Antonio West Target: Discussion of Results

Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 600 m northwest of the historically mined San Antonio zone, covering an area 400 m long and up to  630 m in depth. Twenty-six (26) surface drill holes, for a total of 6,087 m, were drilled on the SAM W target area as part of the 2025 program. The results of five (5) drill holes for 1,867 m are included in this press release, of which two (2) drill holes, TN-25-061 (311 m downhole depth) and TN-25-071A (30 m downhole depth), did not reach target depths and were abandoned due to hole deviation.

Drilling on the SAM W target confirmed the presence of a vein system parallel to the historical San Antonio ore body, which shares the same geology, alteration, and mineralization characteristics. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and pyrite disseminated and in veinlets developed in association with east and northwest trending shear zone corridors.

Drill hole TN-25-064 tested the down-dip extensions of the modelled SAM W target area. Drilling successfully intercepted high-grade gold mineralization with the best intercept of 2.60 m @ 24.83 g/t Au (at 490.00 m downhole depth).

Drill hole TN-25-067 tested the 100 m down-dip extension of gold mineralization intersected in hole TN-25-058 (0.50 m @ 10.40 g/t Au), and intersected two distinct gold mineralized veins including 0.50 m @ 10.40 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).

Drill hole TN-25-71 was designed to test 100 m west of gold mineralization intersected in drill hole TN-25-060 (2.60 m @ 24.83 g/t Au), and intersected 0.80 m @ 12.80 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).  

Annex Target: Discussion of Results

Drilling completed on the Annex target defined high-grade gold mineralization within a dacitic volcaniclastic unit. The gold mineralization is associated with well-developed quartz shear veins and vein breccias within a carbonate, sericite +/- chlorite alteration assemblage and disseminated and veinlet-hosted pyrite and occasionally specs of native gold.

Drill hole TN-25-061 intercepted 0.50 m @ 10.00 g/t Au (at 247.30 m downhole depth) and 2.60 m @ 8.75 g/t Au (at 293.70 m downhole depth), including 1.00 m @ 18.00 g/t Au (at 295.30 m downhole depth).

Drill hole TN-25-064 intercepted 3.10 m @ 2.94 g/t Au (at 271.60 m downhole depth), including 1.00 m @ 6.71 g/t Au (at 273.70 m downhole depth).

Drill hole TN-25-067 intercepted 2.50 m @ 5.23 g/t Au (at 272.50 m downhole depth), including 2.00 m @ 5.76 g/t Au (at 273.70 m downhole depth), and 0.50 m @ 9.18 g/t Au (at 274.50 m downhole depth).

Drill hole TN-25-071 intercepted 1.40 m @ 6.73 g/t Au (at 307.60 m downhole depth), including 0.90 m @ 7.47 g/t Au.

The high-grade nature and width of the drill intercepts and the preliminary size of the area drilled (120 m on strike and 160 m vertically and open up and down dip) represent an additional emerging target within the mine footprint. Upon modelling, this area could be further drilled from surface to define a potential new ore source in close proximity of the True North Mine infrastructure.

Long Section Looking ENE SAM W Target (CNW Group/1911 Gold Corporation)

San Antonio West Target

The SAM W target is located west of the historically mined San Antonio zone within the True North Mine. The SAM W target occurs within the gabbro of the San Antonio mafic unit and the intersection with the Cartwright South mineralized shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au from San Antonio (see technical report entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada, dated December 23. 2024). 

Annex Target

The Annex target is located 300 m east of the Cartwright Zone and 1 kilometre (‘km‘) northwest of the Hinge deposit, and was first intersected in a 2012 and 2013 surface exploration drilling program. The target is located at the intersection of the Cartwright South shear zone with a dacitic volcanoclastic unit, potentially the northwest extension of the host unit of the Hinge deposit, and covers an area with a 120 m east-west strike length by 160 m vertically, and is open both along strike and at depth. Additional interpretation is ongoing to model the extent of the mineralized zone to assess up-side potential.

Long Section Looking ENE Expanded View of SAM W with Drill Intercepts (CNW Group/1911 Gold Corporation)

*Historic drill holes referenced on Table 4 and 5 below

Isometric View Looking NNE SAM W Target with High Grade Gold Intercepts (CNW Group/1911 Gold Corporation)

Next Steps

With the latest phase of surface drilling within the mine lease completed in late September, the Company has shifted its focus to an expanded underground drill campaign within the True North Mine footprint. Two (2) underground drill rigs are currently active on Level 16, an area that provides multiple favourable drill stations and immediate access to high-priority targets. Underground drilling is designed to continue testing the down-dip extensions of the SAM W,  SAM SE and Shore discoveries, as well as evaluating several newly defined exploration targets (see press release dated September 25, 2025). The program will also include delineation drilling of two test mining areas accessible from Level 16 and  drill testing the extensions of the current resource.

Rehabilitation work will also commence in two key areas over the coming months: the L13 deposit area, accessed by a ramp from the Hinge decline, and Level 6, a previously unsurveyed level located 262 m below surface, extending northwest from the A Shaft of the historical San Antonio workings. The L13 area will provide improved access to drill the down-dip extensions of the SAM SE target, while rehabilitation on Level 6 will support continued drilling of the SAM W target and potential drilling of the Cartwright Zone to the west, an area hosting a mineral resource open-at-depth. Additional surface drilling is currently being planned to continue testing the SAM W and Shore targets over the winter.

Concurrently, the Company is advancing permitting for a 2,200 m surface drill program at Ogama-Rockland, a near-surface target with a high-grade NI 43-101 mineral resource, located 35 km southeast of the True North complex (see Technical Report dated November 15, 2013, ‘A Technical Review of the Ogama-Rockland Deposit on the Rice Lake Property, Manitoba, Canada,’ prepared by Watts, Griffis and McOuat). The Company expects to receive approval to commence drilling in the coming weeks, which would allow the program to begin before year-end.

Table 2: True North; Select Drill Hole Assays

Target Area

(name)

Drill Hole

(number)

  From

     (m)

    To

    (m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

249.00

250.00

1.00

0.59

250.00

251.00

1.00

4.23

251.00

253.60

2.60

1.84

261.60

262.20

0.60

0.55

288.70

289.20

0.50

1.35

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

297.00

297.50

0.50

0.51

300.20

300.70

0.50

0.71

301.90

303.00

1.10

0.65

Annex

TN-25-064

260.30

264.00

3.70

1.02

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

311.30

312.40

1.10

0.66

315.50

317.30

1.80

0.96

483.90

485.90

2.00

1.08

487.00

488.00

1.00

1.93

SAM West

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

492.60

496.50

3.90

0.64

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

Including

273.00

273.50

0.50

6.43

and

273.50

274.00

0.50

6.79

and

274.50

275.00

0.50

9.18

275.50

276.00

0.50

1.19

285.10

286.60

1.50

2.01

446.60

447.50

0.90

0.62

SAM West

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

474.30

474.80

0.50

0.59

481.90

484.50

2.60

0.81

497.20

497.70

0.50

4.88

265.10

265.60

0.50

1.03

Annex

TN-25-071

274.10

274.60

0.50

2.89

277.70

279.00

1.30

0.63

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

318.50

319.90

1.40

1.42

322.00

322.50

0.50

5.01

322.50

323.60

1.10

1.17

328.30

328.80

0.50

1.93

406.30

407.00

0.70

0.54

466.50

467.40

0.90

2.24

469.10

470.10

1.00

0.51

473.00

473.50

0.50

0.59

SAM West

TN-25-071

473.50

474.30

0.80

12.80

475.30

476.80

1.50

0.77

*Composites above 0.5 g/t Au and metal factor above 0.5 Au ‘gxm’

 

Table 3: True North Drill Hole Details  (UTM NAD83 Zone 15)

Drill Hole
(Number)

Target  

(Name)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

TN-25-061

SAM West

5656302

312170

266

243

-56

311

TN-25-064

SAM West

5656307

312180

266

229

-71

509

TN-25-067

SAM West

5656308

312182

266

206

-58

516

TN-25-071A

SAM West

5656309

312179

266

249

-62

30

TN-25-071

SAM West

5656309

312180

266

249

-62

501

 

Table 4: Historic Drill Hole Details (UTM NAD83 Zone 15)

Drill Hole
(Number)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

CW-06-064

311685

5656239

261

172

-60

310

CW-06-069

311630

5655977

259

158

-50

182

CW-06-071

311630

5655977

259

167

-70

200

CW-06-073

311630

5655977

259

101

-50

215

GAB-28-014

311611

5655937

258

220

-45

20

GAB-36-005

311620

5655955

258

220

-60

53

GAB-60-012

311631

5655918

258

220

-65

65

GAB-6-010

311585

5655955

258

220

-50

66

GAB-7-007

311543

5656062

258

220

-50

115

UR-12-005

312153

5656301

266

240

-55

520

 

Table 5: Historic Drill Holes – Select Significant Drill Hole Assay Results*

Drill Hole

(number)

From

(m)

To

(m)

Composite
Interval

(m)

Au

(g/t)

CW-06-064

282.61

283.92

1.31

6.86

CW-06-069

73.67

77.05

3.38

7.93

CW-06-071

72.54

74.16

1.62

3.54

CW-06-073

192.33

194.28

1.95

4.05

GAB-6-010

10.67

11.46

0.79

10.97

GAB-7-007

104.55

105.55

1.01

28.11

GAB-28-014

16.46

18.20

1.74

6.54

GAB-36-005

46.33

49.41

3.08

9.80

GAB-60-012

45.35

46.33

0.98

8.91

UR-12-005

456.65

458.18

1.52

2.72

CW-06-064

282.61

283.92

1.31

6.86

* Refer to Technical Report dated December 23, 2024 entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada’

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera, P.Geo, Vice-President Exploration of 1911 Gold Corporation, who is a ‘Qualified Person’ as defined under NI 43-101.

Quality Assurance/Quality Controls (QA/QC)

Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values equal or greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America.

1911 Gold’s True North complex and the exploration land package are located within and among the First Nation communities of the Hollow Water First Nation and the Black River First Nation. 1911 Gold looks forward to maintaining open, cooperative, and respectful communications with all of our local communities and stakeholders to foster mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, the Company’s current business plans, including the underground drill program, and the timing and results thereof; development programs and the planned test mining program, leading towards a potential mine restart in 2027; the deployment of surface drills, and the receipt of permits to commence drilling at Ogama-Rockland, and the timing and results thereof; and generally, the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

1911 Gold Corporation TSXV: AUMB OTCQB: AUMBF FRA: 2KY (CNW Group/1911 Gold Corporation)

SOURCE 1911 Gold Corporation

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1911 Gold Intersects up to 24.83 g/t Gold over 2.60 m on San Antonio West at the True North Gold Project

No Comments

 1911 Gold Corporation (‘1911 Gold’ or the ‘Company’) (TSXV: AUMB,OTC:AUMBF) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce new assay results from the surface drill program at the Company’s wholly-owned operational and fully permitted True North Gold Project (‘True North’), centrally located within the Company’s 100%-owned Rice Lake Gold property, southeast Manitoba, Canada. The latest assay results are from five (5) drill holes for 1,867 metres (‘m’) targeting the San Antonio West target (‘SAM W’).

 

Drilling* Highlights:

  • Surface drilling completed to date on the new SAM W target has confirmed quartz vein-hosted gold (‘Au’) mineralization to a depth of 630 m below surface
    • TN-25-064: Intersected 24.83 grams per tonne (‘g/t’) Au over 2.60 m (at 490.00 m), including 46.00 g/t Au over 1.00 m, including 63.20 g/t Au over 0.50 m, 28.80 g/t Au over 0.50 m and 32.40 g/t Au over 0.50 m
    • TN-25-067: Intersected 4.04 g/t Au over 5.80 m (at 467.60 m), including 23.90 g/t Au over 0.50 m and 6.12 g/t Au over 0.50 m
    • TN-25-071: Intersected 12.80 g/t Au over 0.80 m (at 473.50 m)
  • The drill holes targeting the SAM W down-dip extensions also intersected significant gold mineralization within an area defined as the Annex target (to the east and at shallower depths to SAM W), confirming historical gold mineralization defined in the area:
    • TN-25-061: Intersected 10.00 g/t Au over 0.50 m (at 247.80 m) and 8.75 g/t Au over 2.60 m (at 294.00 m), including 18.00 g/t Au over 1.00 m
    • TN-25-064: Intersected 2.94 g/t Au over 3.10 m (at 271.60 m), including 6.71 g/t Au over 1.00 m
    • TN-25-067: Intersected 5.23 g/t Au over 2.50 m (at 272.50 m), including 5.76 g/t Au over 2.00 m and 9.18 g/t Au over 0.50 m
    • TN-25-071: Intersected 6.73 g/t Au over 1.40 m (at 307.60 m), including 7.47 g/t Au over 0.90 m

* All drill results are quoted as downhole drill lengths, and downhole depth.

‘San Antonio West continues to deliver some of the best near-mine exploration results we’ve seen at True North,’ stated Shaun Heinrichs, President and CEO. ‘These high-grade intercepts demonstrate the strength of the True North mineralized system and highlights the continued opportunity to outline new zones of mineralization adjacent to existing infrastructure. With the transition to underground drilling, we will accelerate resource growth across multiple target areas building towards a sustainable restart of operations.’

1911 Gold has now completed seventy-five (75) surface drill holes, for a total of 20,398 m of drilling as part of the 2025 surface exploration drill program (the ‘2025 Surface Drill Program‘). The 2025 Surface Drill Program focused on new targets defined by favourable host rocks and mineralized structural settings within the True North Mine footprint, also supported by significant historical drill intercepts that were close to surface and existing infrastructure. The most recent phase of the program consisted of two drill rigs targeting the down-dip extensions of mineralization at the new high-grade San Antonio Southeast (‘SAM SE‘) and SAM W target areas, as well as the newly identified Shore target. The surface drilling program was completed on September 20, 2025, and these are the last assay results being reported for the program. Project activities have now shifted to underground exploration, resource expansion and resource delineation drilling. Underground drilling within the True North Mine commenced on October 1, 2025, with one (1) drill rig on Level 16 (695 m below surface) and a second drill rig added on November 6, 2025.

Plan View True North Geology with SAM W and Annex Drill Hole Locations (CNW Group/1911 Gold Corporation)

Cross Section Looking NNW SAM W and Annex Targets (CNW Group/1911 Gold Corporation)

*Along the Cartwright South shear zone projected to vertical, San Antonio drifts and shafts projected up to 250 m from the south-east

**For other drill results see press release dated June 10, 2025 (1911 Gold intersects up to 58.66 g/t Gold over 1.40 m on San Antonio West Zone at True North); April 30, 2025 (1911 Gold intersects 62.40 g/t Au over 1.00 m on San Antonio West Zone at True North) and February 4, 2025 (1911 Gold intersects 8.42 g/t Gold over 0.91 m and 7.23 g/t Gold over 1.05 m in Drilling at True North).

 

Table 1: Select Significant Drill Hole Assay Results

Target Area

(name)

Drill Hole

(number)

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

250.00

251.00

1.00

4.23

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

Annex

TN-25-064

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

SAM W

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

and

274.50

275.00

0.50

9.18

SAM W

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

497.20

497.70

0.50

4.88

Annex

TN-25-071

274.10

274.60

0.50

2.89

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

322.00

322.50

0.50

5.01

SAM W

TN-25-071

473.50

474.30

0.80

12.80

1)

Intercepts above a cut-off grade of 2.25 g/t Au

2)

Maximum of 2.50 m internal dilution and no top capping applied

3)

Intervals represent drill core length and are considered to represent 60% to 90% of true widths

4)

Full Significant Assay Results included in Table 2

5)

Drill hole Information included in Table 3

San Antonio West Target: Discussion of Results

Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 600 m northwest of the historically mined San Antonio zone, covering an area 400 m long and up to  630 m in depth. Twenty-six (26) surface drill holes, for a total of 6,087 m, were drilled on the SAM W target area as part of the 2025 program. The results of five (5) drill holes for 1,867 m are included in this press release, of which two (2) drill holes, TN-25-061 (311 m downhole depth) and TN-25-071A (30 m downhole depth), did not reach target depths and were abandoned due to hole deviation.

Drilling on the SAM W target confirmed the presence of a vein system parallel to the historical San Antonio ore body, which shares the same geology, alteration, and mineralization characteristics. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and pyrite disseminated and in veinlets developed in association with east and northwest trending shear zone corridors.

Drill hole TN-25-064 tested the down-dip extensions of the modelled SAM W target area. Drilling successfully intercepted high-grade gold mineralization with the best intercept of 2.60 m @ 24.83 g/t Au (at 490.00 m downhole depth).

Drill hole TN-25-067 tested the 100 m down-dip extension of gold mineralization intersected in hole TN-25-058 (0.50 m @ 10.40 g/t Au), and intersected two distinct gold mineralized veins including 0.50 m @ 10.40 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).

Drill hole TN-25-71 was designed to test 100 m west of gold mineralization intersected in drill hole TN-25-060 (2.60 m @ 24.83 g/t Au), and intersected 0.80 m @ 12.80 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).  

Annex Target: Discussion of Results

Drilling completed on the Annex target defined high-grade gold mineralization within a dacitic volcaniclastic unit. The gold mineralization is associated with well-developed quartz shear veins and vein breccias within a carbonate, sericite +/- chlorite alteration assemblage and disseminated and veinlet-hosted pyrite and occasionally specs of native gold.

Drill hole TN-25-061 intercepted 0.50 m @ 10.00 g/t Au (at 247.30 m downhole depth) and 2.60 m @ 8.75 g/t Au (at 293.70 m downhole depth), including 1.00 m @ 18.00 g/t Au (at 295.30 m downhole depth).

Drill hole TN-25-064 intercepted 3.10 m @ 2.94 g/t Au (at 271.60 m downhole depth), including 1.00 m @ 6.71 g/t Au (at 273.70 m downhole depth).

Drill hole TN-25-067 intercepted 2.50 m @ 5.23 g/t Au (at 272.50 m downhole depth), including 2.00 m @ 5.76 g/t Au (at 273.70 m downhole depth), and 0.50 m @ 9.18 g/t Au (at 274.50 m downhole depth).

Drill hole TN-25-071 intercepted 1.40 m @ 6.73 g/t Au (at 307.60 m downhole depth), including 0.90 m @ 7.47 g/t Au.

The high-grade nature and width of the drill intercepts and the preliminary size of the area drilled (120 m on strike and 160 m vertically and open up and down dip) represent an additional emerging target within the mine footprint. Upon modelling, this area could be further drilled from surface to define a potential new ore source in close proximity of the True North Mine infrastructure.

Long Section Looking ENE SAM W Target (CNW Group/1911 Gold Corporation)

San Antonio West Target

The SAM W target is located west of the historically mined San Antonio zone within the True North Mine. The SAM W target occurs within the gabbro of the San Antonio mafic unit and the intersection with the Cartwright South mineralized shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au from San Antonio (see technical report entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada, dated December 23. 2024). 

Annex Target

The Annex target is located 300 m east of the Cartwright Zone and 1 kilometre (‘km‘) northwest of the Hinge deposit, and was first intersected in a 2012 and 2013 surface exploration drilling program. The target is located at the intersection of the Cartwright South shear zone with a dacitic volcanoclastic unit, potentially the northwest extension of the host unit of the Hinge deposit, and covers an area with a 120 m east-west strike length by 160 m vertically, and is open both along strike and at depth. Additional interpretation is ongoing to model the extent of the mineralized zone to assess up-side potential.

Long Section Looking ENE Expanded View of SAM W with Drill Intercepts (CNW Group/1911 Gold Corporation)

*Historic drill holes referenced on Table 4 and 5 below

Isometric View Looking NNE SAM W Target with High Grade Gold Intercepts (CNW Group/1911 Gold Corporation)

Next Steps

With the latest phase of surface drilling within the mine lease completed in late September, the Company has shifted its focus to an expanded underground drill campaign within the True North Mine footprint. Two (2) underground drill rigs are currently active on Level 16, an area that provides multiple favourable drill stations and immediate access to high-priority targets. Underground drilling is designed to continue testing the down-dip extensions of the SAM W,  SAM SE and Shore discoveries, as well as evaluating several newly defined exploration targets (see press release dated September 25, 2025). The program will also include delineation drilling of two test mining areas accessible from Level 16 and  drill testing the extensions of the current resource.

Rehabilitation work will also commence in two key areas over the coming months: the L13 deposit area, accessed by a ramp from the Hinge decline, and Level 6, a previously unsurveyed level located 262 m below surface, extending northwest from the A Shaft of the historical San Antonio workings. The L13 area will provide improved access to drill the down-dip extensions of the SAM SE target, while rehabilitation on Level 6 will support continued drilling of the SAM W target and potential drilling of the Cartwright Zone to the west, an area hosting a mineral resource open-at-depth. Additional surface drilling is currently being planned to continue testing the SAM W and Shore targets over the winter.

Concurrently, the Company is advancing permitting for a 2,200 m surface drill program at Ogama-Rockland, a near-surface target with a high-grade NI 43-101 mineral resource, located 35 km southeast of the True North complex (see Technical Report dated November 15, 2013, ‘A Technical Review of the Ogama-Rockland Deposit on the Rice Lake Property, Manitoba, Canada,’ prepared by Watts, Griffis and McOuat). The Company expects to receive approval to commence drilling in the coming weeks, which would allow the program to begin before year-end.

Table 2: True North; Select Drill Hole Assays

Target Area

(name)

Drill Hole

(number)

  From

     (m)

    To

    (m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

249.00

250.00

1.00

0.59

250.00

251.00

1.00

4.23

251.00

253.60

2.60

1.84

261.60

262.20

0.60

0.55

288.70

289.20

0.50

1.35

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

297.00

297.50

0.50

0.51

300.20

300.70

0.50

0.71

301.90

303.00

1.10

0.65

Annex

TN-25-064

260.30

264.00

3.70

1.02

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

311.30

312.40

1.10

0.66

315.50

317.30

1.80

0.96

483.90

485.90

2.00

1.08

487.00

488.00

1.00

1.93

SAM West

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

492.60

496.50

3.90

0.64

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

Including

273.00

273.50

0.50

6.43

and

273.50

274.00

0.50

6.79

and

274.50

275.00

0.50

9.18

275.50

276.00

0.50

1.19

285.10

286.60

1.50

2.01

446.60

447.50

0.90

0.62

SAM West

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

474.30

474.80

0.50

0.59

481.90

484.50

2.60

0.81

497.20

497.70

0.50

4.88

265.10

265.60

0.50

1.03

Annex

TN-25-071

274.10

274.60

0.50

2.89

277.70

279.00

1.30

0.63

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

318.50

319.90

1.40

1.42

322.00

322.50

0.50

5.01

322.50

323.60

1.10

1.17

328.30

328.80

0.50

1.93

406.30

407.00

0.70

0.54

466.50

467.40

0.90

2.24

469.10

470.10

1.00

0.51

473.00

473.50

0.50

0.59

SAM West

TN-25-071

473.50

474.30

0.80

12.80

475.30

476.80

1.50

0.77

*Composites above 0.5 g/t Au and metal factor above 0.5 Au ‘gxm’

 

Table 3: True North Drill Hole Details  (UTM NAD83 Zone 15)

Drill Hole
(Number)

Target  

(Name)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

TN-25-061

SAM West

5656302

312170

266

243

-56

311

TN-25-064

SAM West

5656307

312180

266

229

-71

509

TN-25-067

SAM West

5656308

312182

266

206

-58

516

TN-25-071A

SAM West

5656309

312179

266

249

-62

30

TN-25-071

SAM West

5656309

312180

266

249

-62

501

 

Table 4: Historic Drill Hole Details (UTM NAD83 Zone 15)

Drill Hole
(Number)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

CW-06-064

311685

5656239

261

172

-60

310

CW-06-069

311630

5655977

259

158

-50

182

CW-06-071

311630

5655977

259

167

-70

200

CW-06-073

311630

5655977

259

101

-50

215

GAB-28-014

311611

5655937

258

220

-45

20

GAB-36-005

311620

5655955

258

220

-60

53

GAB-60-012

311631

5655918

258

220

-65

65

GAB-6-010

311585

5655955

258

220

-50

66

GAB-7-007

311543

5656062

258

220

-50

115

UR-12-005

312153

5656301

266

240

-55

520

 

Table 5: Historic Drill Holes – Select Significant Drill Hole Assay Results*

Drill Hole

(number)

From

(m)

To

(m)

Composite
Interval

(m)

Au

(g/t)

CW-06-064

282.61

283.92

1.31

6.86

CW-06-069

73.67

77.05

3.38

7.93

CW-06-071

72.54

74.16

1.62

3.54

CW-06-073

192.33

194.28

1.95

4.05

GAB-6-010

10.67

11.46

0.79

10.97

GAB-7-007

104.55

105.55

1.01

28.11

GAB-28-014

16.46

18.20

1.74

6.54

GAB-36-005

46.33

49.41

3.08

9.80

GAB-60-012

45.35

46.33

0.98

8.91

UR-12-005

456.65

458.18

1.52

2.72

CW-06-064

282.61

283.92

1.31

6.86

* Refer to Technical Report dated December 23, 2024 entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada’

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera, P.Geo, Vice-President Exploration of 1911 Gold Corporation, who is a ‘Qualified Person’ as defined under NI 43-101.

Quality Assurance/Quality Controls (QA/QC)

Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values equal or greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America.

1911 Gold’s True North complex and the exploration land package are located within and among the First Nation communities of the Hollow Water First Nation and the Black River First Nation. 1911 Gold looks forward to maintaining open, cooperative, and respectful communications with all of our local communities and stakeholders to foster mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, the Company’s current business plans, including the underground drill program, and the timing and results thereof; development programs and the planned test mining program, leading towards a potential mine restart in 2027; the deployment of surface drills, and the receipt of permits to commence drilling at Ogama-Rockland, and the timing and results thereof; and generally, the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

1911 Gold Corporation TSXV: AUMB OTCQB: AUMBF FRA: 2KY (CNW Group/1911 Gold Corporation)

SOURCE 1911 Gold Corporation

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1911 Gold Intersects up to 24.83 g/t Gold over 2.60 m on San Antonio West at the True North Gold Project

No Comments

 1911 Gold Corporation (‘1911 Gold’ or the ‘Company’) (TSXV: AUMB,OTC:AUMBF) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce new assay results from the surface drill program at the Company’s wholly-owned operational and fully permitted True North Gold Project (‘True North’), centrally located within the Company’s 100%-owned Rice Lake Gold property, southeast Manitoba, Canada. The latest assay results are from five (5) drill holes for 1,867 metres (‘m’) targeting the San Antonio West target (‘SAM W’).

 

Drilling* Highlights:

  • Surface drilling completed to date on the new SAM W target has confirmed quartz vein-hosted gold (‘Au’) mineralization to a depth of 630 m below surface
    • TN-25-064: Intersected 24.83 grams per tonne (‘g/t’) Au over 2.60 m (at 490.00 m), including 46.00 g/t Au over 1.00 m, including 63.20 g/t Au over 0.50 m, 28.80 g/t Au over 0.50 m and 32.40 g/t Au over 0.50 m
    • TN-25-067: Intersected 4.04 g/t Au over 5.80 m (at 467.60 m), including 23.90 g/t Au over 0.50 m and 6.12 g/t Au over 0.50 m
    • TN-25-071: Intersected 12.80 g/t Au over 0.80 m (at 473.50 m)
  • The drill holes targeting the SAM W down-dip extensions also intersected significant gold mineralization within an area defined as the Annex target (to the east and at shallower depths to SAM W), confirming historical gold mineralization defined in the area:
    • TN-25-061: Intersected 10.00 g/t Au over 0.50 m (at 247.80 m) and 8.75 g/t Au over 2.60 m (at 294.00 m), including 18.00 g/t Au over 1.00 m
    • TN-25-064: Intersected 2.94 g/t Au over 3.10 m (at 271.60 m), including 6.71 g/t Au over 1.00 m
    • TN-25-067: Intersected 5.23 g/t Au over 2.50 m (at 272.50 m), including 5.76 g/t Au over 2.00 m and 9.18 g/t Au over 0.50 m
    • TN-25-071: Intersected 6.73 g/t Au over 1.40 m (at 307.60 m), including 7.47 g/t Au over 0.90 m

* All drill results are quoted as downhole drill lengths, and downhole depth.

‘San Antonio West continues to deliver some of the best near-mine exploration results we’ve seen at True North,’ stated Shaun Heinrichs, President and CEO. ‘These high-grade intercepts demonstrate the strength of the True North mineralized system and highlights the continued opportunity to outline new zones of mineralization adjacent to existing infrastructure. With the transition to underground drilling, we will accelerate resource growth across multiple target areas building towards a sustainable restart of operations.’

1911 Gold has now completed seventy-five (75) surface drill holes, for a total of 20,398 m of drilling as part of the 2025 surface exploration drill program (the ‘2025 Surface Drill Program‘). The 2025 Surface Drill Program focused on new targets defined by favourable host rocks and mineralized structural settings within the True North Mine footprint, also supported by significant historical drill intercepts that were close to surface and existing infrastructure. The most recent phase of the program consisted of two drill rigs targeting the down-dip extensions of mineralization at the new high-grade San Antonio Southeast (‘SAM SE‘) and SAM W target areas, as well as the newly identified Shore target. The surface drilling program was completed on September 20, 2025, and these are the last assay results being reported for the program. Project activities have now shifted to underground exploration, resource expansion and resource delineation drilling. Underground drilling within the True North Mine commenced on October 1, 2025, with one (1) drill rig on Level 16 (695 m below surface) and a second drill rig added on November 6, 2025.

Plan View True North Geology with SAM W and Annex Drill Hole Locations (CNW Group/1911 Gold Corporation)

Cross Section Looking NNW SAM W and Annex Targets (CNW Group/1911 Gold Corporation)

*Along the Cartwright South shear zone projected to vertical, San Antonio drifts and shafts projected up to 250 m from the south-east

**For other drill results see press release dated June 10, 2025 (1911 Gold intersects up to 58.66 g/t Gold over 1.40 m on San Antonio West Zone at True North); April 30, 2025 (1911 Gold intersects 62.40 g/t Au over 1.00 m on San Antonio West Zone at True North) and February 4, 2025 (1911 Gold intersects 8.42 g/t Gold over 0.91 m and 7.23 g/t Gold over 1.05 m in Drilling at True North).

 

Table 1: Select Significant Drill Hole Assay Results

Target Area

(name)

Drill Hole

(number)

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

250.00

251.00

1.00

4.23

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

Annex

TN-25-064

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

SAM W

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

and

274.50

275.00

0.50

9.18

SAM W

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

497.20

497.70

0.50

4.88

Annex

TN-25-071

274.10

274.60

0.50

2.89

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

322.00

322.50

0.50

5.01

SAM W

TN-25-071

473.50

474.30

0.80

12.80

1)

Intercepts above a cut-off grade of 2.25 g/t Au

2)

Maximum of 2.50 m internal dilution and no top capping applied

3)

Intervals represent drill core length and are considered to represent 60% to 90% of true widths

4)

Full Significant Assay Results included in Table 2

5)

Drill hole Information included in Table 3

San Antonio West Target: Discussion of Results

Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 600 m northwest of the historically mined San Antonio zone, covering an area 400 m long and up to  630 m in depth. Twenty-six (26) surface drill holes, for a total of 6,087 m, were drilled on the SAM W target area as part of the 2025 program. The results of five (5) drill holes for 1,867 m are included in this press release, of which two (2) drill holes, TN-25-061 (311 m downhole depth) and TN-25-071A (30 m downhole depth), did not reach target depths and were abandoned due to hole deviation.

Drilling on the SAM W target confirmed the presence of a vein system parallel to the historical San Antonio ore body, which shares the same geology, alteration, and mineralization characteristics. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and pyrite disseminated and in veinlets developed in association with east and northwest trending shear zone corridors.

Drill hole TN-25-064 tested the down-dip extensions of the modelled SAM W target area. Drilling successfully intercepted high-grade gold mineralization with the best intercept of 2.60 m @ 24.83 g/t Au (at 490.00 m downhole depth).

Drill hole TN-25-067 tested the 100 m down-dip extension of gold mineralization intersected in hole TN-25-058 (0.50 m @ 10.40 g/t Au), and intersected two distinct gold mineralized veins including 0.50 m @ 10.40 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).

Drill hole TN-25-71 was designed to test 100 m west of gold mineralization intersected in drill hole TN-25-060 (2.60 m @ 24.83 g/t Au), and intersected 0.80 m @ 12.80 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).  

Annex Target: Discussion of Results

Drilling completed on the Annex target defined high-grade gold mineralization within a dacitic volcaniclastic unit. The gold mineralization is associated with well-developed quartz shear veins and vein breccias within a carbonate, sericite +/- chlorite alteration assemblage and disseminated and veinlet-hosted pyrite and occasionally specs of native gold.

Drill hole TN-25-061 intercepted 0.50 m @ 10.00 g/t Au (at 247.30 m downhole depth) and 2.60 m @ 8.75 g/t Au (at 293.70 m downhole depth), including 1.00 m @ 18.00 g/t Au (at 295.30 m downhole depth).

Drill hole TN-25-064 intercepted 3.10 m @ 2.94 g/t Au (at 271.60 m downhole depth), including 1.00 m @ 6.71 g/t Au (at 273.70 m downhole depth).

Drill hole TN-25-067 intercepted 2.50 m @ 5.23 g/t Au (at 272.50 m downhole depth), including 2.00 m @ 5.76 g/t Au (at 273.70 m downhole depth), and 0.50 m @ 9.18 g/t Au (at 274.50 m downhole depth).

Drill hole TN-25-071 intercepted 1.40 m @ 6.73 g/t Au (at 307.60 m downhole depth), including 0.90 m @ 7.47 g/t Au.

The high-grade nature and width of the drill intercepts and the preliminary size of the area drilled (120 m on strike and 160 m vertically and open up and down dip) represent an additional emerging target within the mine footprint. Upon modelling, this area could be further drilled from surface to define a potential new ore source in close proximity of the True North Mine infrastructure.

Long Section Looking ENE SAM W Target (CNW Group/1911 Gold Corporation)

San Antonio West Target

The SAM W target is located west of the historically mined San Antonio zone within the True North Mine. The SAM W target occurs within the gabbro of the San Antonio mafic unit and the intersection with the Cartwright South mineralized shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au from San Antonio (see technical report entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada, dated December 23. 2024). 

Annex Target

The Annex target is located 300 m east of the Cartwright Zone and 1 kilometre (‘km‘) northwest of the Hinge deposit, and was first intersected in a 2012 and 2013 surface exploration drilling program. The target is located at the intersection of the Cartwright South shear zone with a dacitic volcanoclastic unit, potentially the northwest extension of the host unit of the Hinge deposit, and covers an area with a 120 m east-west strike length by 160 m vertically, and is open both along strike and at depth. Additional interpretation is ongoing to model the extent of the mineralized zone to assess up-side potential.

Long Section Looking ENE Expanded View of SAM W with Drill Intercepts (CNW Group/1911 Gold Corporation)

*Historic drill holes referenced on Table 4 and 5 below

Isometric View Looking NNE SAM W Target with High Grade Gold Intercepts (CNW Group/1911 Gold Corporation)

Next Steps

With the latest phase of surface drilling within the mine lease completed in late September, the Company has shifted its focus to an expanded underground drill campaign within the True North Mine footprint. Two (2) underground drill rigs are currently active on Level 16, an area that provides multiple favourable drill stations and immediate access to high-priority targets. Underground drilling is designed to continue testing the down-dip extensions of the SAM W,  SAM SE and Shore discoveries, as well as evaluating several newly defined exploration targets (see press release dated September 25, 2025). The program will also include delineation drilling of two test mining areas accessible from Level 16 and  drill testing the extensions of the current resource.

Rehabilitation work will also commence in two key areas over the coming months: the L13 deposit area, accessed by a ramp from the Hinge decline, and Level 6, a previously unsurveyed level located 262 m below surface, extending northwest from the A Shaft of the historical San Antonio workings. The L13 area will provide improved access to drill the down-dip extensions of the SAM SE target, while rehabilitation on Level 6 will support continued drilling of the SAM W target and potential drilling of the Cartwright Zone to the west, an area hosting a mineral resource open-at-depth. Additional surface drilling is currently being planned to continue testing the SAM W and Shore targets over the winter.

Concurrently, the Company is advancing permitting for a 2,200 m surface drill program at Ogama-Rockland, a near-surface target with a high-grade NI 43-101 mineral resource, located 35 km southeast of the True North complex (see Technical Report dated November 15, 2013, ‘A Technical Review of the Ogama-Rockland Deposit on the Rice Lake Property, Manitoba, Canada,’ prepared by Watts, Griffis and McOuat). The Company expects to receive approval to commence drilling in the coming weeks, which would allow the program to begin before year-end.

Table 2: True North; Select Drill Hole Assays

Target Area

(name)

Drill Hole

(number)

  From

     (m)

    To

    (m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

249.00

250.00

1.00

0.59

250.00

251.00

1.00

4.23

251.00

253.60

2.60

1.84

261.60

262.20

0.60

0.55

288.70

289.20

0.50

1.35

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

297.00

297.50

0.50

0.51

300.20

300.70

0.50

0.71

301.90

303.00

1.10

0.65

Annex

TN-25-064

260.30

264.00

3.70

1.02

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

311.30

312.40

1.10

0.66

315.50

317.30

1.80

0.96

483.90

485.90

2.00

1.08

487.00

488.00

1.00

1.93

SAM West

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

492.60

496.50

3.90

0.64

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

Including

273.00

273.50

0.50

6.43

and

273.50

274.00

0.50

6.79

and

274.50

275.00

0.50

9.18

275.50

276.00

0.50

1.19

285.10

286.60

1.50

2.01

446.60

447.50

0.90

0.62

SAM West

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

474.30

474.80

0.50

0.59

481.90

484.50

2.60

0.81

497.20

497.70

0.50

4.88

265.10

265.60

0.50

1.03

Annex

TN-25-071

274.10

274.60

0.50

2.89

277.70

279.00

1.30

0.63

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

318.50

319.90

1.40

1.42

322.00

322.50

0.50

5.01

322.50

323.60

1.10

1.17

328.30

328.80

0.50

1.93

406.30

407.00

0.70

0.54

466.50

467.40

0.90

2.24

469.10

470.10

1.00

0.51

473.00

473.50

0.50

0.59

SAM West

TN-25-071

473.50

474.30

0.80

12.80

475.30

476.80

1.50

0.77

*Composites above 0.5 g/t Au and metal factor above 0.5 Au ‘gxm’

 

Table 3: True North Drill Hole Details  (UTM NAD83 Zone 15)

Drill Hole
(Number)

Target  

(Name)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

TN-25-061

SAM West

5656302

312170

266

243

-56

311

TN-25-064

SAM West

5656307

312180

266

229

-71

509

TN-25-067

SAM West

5656308

312182

266

206

-58

516

TN-25-071A

SAM West

5656309

312179

266

249

-62

30

TN-25-071

SAM West

5656309

312180

266

249

-62

501

 

Table 4: Historic Drill Hole Details (UTM NAD83 Zone 15)

Drill Hole
(Number)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

CW-06-064

311685

5656239

261

172

-60

310

CW-06-069

311630

5655977

259

158

-50

182

CW-06-071

311630

5655977

259

167

-70

200

CW-06-073

311630

5655977

259

101

-50

215

GAB-28-014

311611

5655937

258

220

-45

20

GAB-36-005

311620

5655955

258

220

-60

53

GAB-60-012

311631

5655918

258

220

-65

65

GAB-6-010

311585

5655955

258

220

-50

66

GAB-7-007

311543

5656062

258

220

-50

115

UR-12-005

312153

5656301

266

240

-55

520

 

Table 5: Historic Drill Holes – Select Significant Drill Hole Assay Results*

Drill Hole

(number)

From

(m)

To

(m)

Composite
Interval

(m)

Au

(g/t)

CW-06-064

282.61

283.92

1.31

6.86

CW-06-069

73.67

77.05

3.38

7.93

CW-06-071

72.54

74.16

1.62

3.54

CW-06-073

192.33

194.28

1.95

4.05

GAB-6-010

10.67

11.46

0.79

10.97

GAB-7-007

104.55

105.55

1.01

28.11

GAB-28-014

16.46

18.20

1.74

6.54

GAB-36-005

46.33

49.41

3.08

9.80

GAB-60-012

45.35

46.33

0.98

8.91

UR-12-005

456.65

458.18

1.52

2.72

CW-06-064

282.61

283.92

1.31

6.86

* Refer to Technical Report dated December 23, 2024 entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada’

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera, P.Geo, Vice-President Exploration of 1911 Gold Corporation, who is a ‘Qualified Person’ as defined under NI 43-101.

Quality Assurance/Quality Controls (QA/QC)

Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values equal or greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America.

1911 Gold’s True North complex and the exploration land package are located within and among the First Nation communities of the Hollow Water First Nation and the Black River First Nation. 1911 Gold looks forward to maintaining open, cooperative, and respectful communications with all of our local communities and stakeholders to foster mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, the Company’s current business plans, including the underground drill program, and the timing and results thereof; development programs and the planned test mining program, leading towards a potential mine restart in 2027; the deployment of surface drills, and the receipt of permits to commence drilling at Ogama-Rockland, and the timing and results thereof; and generally, the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

1911 Gold Corporation TSXV: AUMB OTCQB: AUMBF FRA: 2KY (CNW Group/1911 Gold Corporation)

SOURCE 1911 Gold Corporation

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Questcorp Mining Receives Initial Investment from U.K. Based Institutional Investor Sorbie Bornholm LP.

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Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to announce that Sorbie Bornholm LP (‘Sorbie’), a UK Investment Fund, has undertaken an initial investment in Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (‘Questcorp’ or the ‘Company’). The gross amount of the investment is CAD$2,000,000. The funds will go toward advancing Questcorp’s ongoing exploration and development programs at its flagship La Union Gold and Silver Project in Sonora, Mexico, and its North Island Copper Property on Vancouver Island, British Columbia, and for general working capital purposes.

Reflecting on the new partnership, President & CEO, Saf Dhillon, commented:

‘We are incredibly pleased to have secured this strategic investment from Sorbie Bornholm, a respected international institutional investor. This financing provides us with the flexibility to accelerate exploration across our key assets in Mexico and British Columbia. We view Sorbie’s participation as a strong vote of confidence in Questcorp’s team, vision, and long-term potential to deliver value through discovery and development.’

Whitney Kofford, Managing Director of Sorbie Bornholm LP, added:

‘We are delighted to welcome Questcorp Mining Inc. as a new partner and portfolio company. Our decision to invest reflects our enormous confidence in Questcorp’s leadership. And in turn, by entering into a Sharing Agreement, Questcorp’s leadership signals strong conviction in their ability to execute and grow value for all stakeholders. Sorbie’s Sharing Agreement is designed to align interests towards growth and provide companies with consistent capital that rewards operational success and share price appreciation. We trust Questcorp will use the capital support to systematically unlock long-term value for all shareholders, and we look forward to sharing in their great upside potential.’

About Sorbie Bornholm

Sorbie Bornholm LP is a global investment firm that provides funding for ongoing business objectives to listed micro, small and mid-cap growth companies. We focus on public equity investments in companies that are looking to expand and on management teams with a clear growth strategy. Our extensive experience allows us to invest in most industries in order to provide supportive, longer-term capital that rewards company growth.

Since 2000, Sorbie Bornholm LP founder Greg Kofford has perfected the ‘Sorbie-Strategy’, utilizing a sharing agreement that supports management and rewards growth. This unique approach has now been used in over 50 investments – with many of those resulting in the companies receiving more cash than the original offering proceeds – without having to issue any additional shares.

Sorbie Bornholm’s core values drive who we are and how we invest. We are committed to developing long-term relationships with select listed public companies and their brokers & advisers. We focus on providing supportive, longer-term capital that rewards growth. We invest to make a difference, to become a valued partner and to be a shareholder of choice. It’s important to us that we succeed together.

To see if the Sorbie-Strategy is right for your company, please contact Sorbie Bornholm:

Whitney Kofford, Managing Director
+1-801-554-5889
whitney@sorbiebornholm.com https://sorbiebornholm.co.uk/

About Questcorp Mining Inc.

Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.

Contact Information

Questcorp Mining Corp.

Saf Dhillon, President & CEO

Email: saf@questcorpmining.ca
Telephone: (604) 484-3031

This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the intended use of proceeds from the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of Riverside to secure geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets as contemplated or at all, general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273793

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Questcorp Mining Receives Initial Investment from U.K. Based Institutional Investor Sorbie Bornholm LP.

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Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to announce that Sorbie Bornholm LP (‘Sorbie’), a UK Investment Fund, has undertaken an initial investment in Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (‘Questcorp’ or the ‘Company’). The gross amount of the investment is CAD$2,000,000. The funds will go toward advancing Questcorp’s ongoing exploration and development programs at its flagship La Union Gold and Silver Project in Sonora, Mexico, and its North Island Copper Property on Vancouver Island, British Columbia, and for general working capital purposes.

Reflecting on the new partnership, President & CEO, Saf Dhillon, commented:

‘We are incredibly pleased to have secured this strategic investment from Sorbie Bornholm, a respected international institutional investor. This financing provides us with the flexibility to accelerate exploration across our key assets in Mexico and British Columbia. We view Sorbie’s participation as a strong vote of confidence in Questcorp’s team, vision, and long-term potential to deliver value through discovery and development.’

Whitney Kofford, Managing Director of Sorbie Bornholm LP, added:

‘We are delighted to welcome Questcorp Mining Inc. as a new partner and portfolio company. Our decision to invest reflects our enormous confidence in Questcorp’s leadership. And in turn, by entering into a Sharing Agreement, Questcorp’s leadership signals strong conviction in their ability to execute and grow value for all stakeholders. Sorbie’s Sharing Agreement is designed to align interests towards growth and provide companies with consistent capital that rewards operational success and share price appreciation. We trust Questcorp will use the capital support to systematically unlock long-term value for all shareholders, and we look forward to sharing in their great upside potential.’

About Sorbie Bornholm

Sorbie Bornholm LP is a global investment firm that provides funding for ongoing business objectives to listed micro, small and mid-cap growth companies. We focus on public equity investments in companies that are looking to expand and on management teams with a clear growth strategy. Our extensive experience allows us to invest in most industries in order to provide supportive, longer-term capital that rewards company growth.

Since 2000, Sorbie Bornholm LP founder Greg Kofford has perfected the ‘Sorbie-Strategy’, utilizing a sharing agreement that supports management and rewards growth. This unique approach has now been used in over 50 investments – with many of those resulting in the companies receiving more cash than the original offering proceeds – without having to issue any additional shares.

Sorbie Bornholm’s core values drive who we are and how we invest. We are committed to developing long-term relationships with select listed public companies and their brokers & advisers. We focus on providing supportive, longer-term capital that rewards growth. We invest to make a difference, to become a valued partner and to be a shareholder of choice. It’s important to us that we succeed together.

To see if the Sorbie-Strategy is right for your company, please contact Sorbie Bornholm:

Whitney Kofford, Managing Director
+1-801-554-5889
whitney@sorbiebornholm.com https://sorbiebornholm.co.uk/

About Questcorp Mining Inc.

Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.

Contact Information

Questcorp Mining Corp.

Saf Dhillon, President & CEO

Email: saf@questcorpmining.ca
Telephone: (604) 484-3031

This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the intended use of proceeds from the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of Riverside to secure geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets as contemplated or at all, general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273793

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