1911 Gold Corporation

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totalling more than 63,000 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 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 exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

Investment Highlights

Fully Permitted Mine, Mill and Infrastructure

• Fully permitted 1,300 tonne/day mill and mine-site infrastructure in place
• Estimated replacement value in excess of $200M
• Permitting new mines in Canada can take +7 years with significant capital expenditures
• +$310M in tax pools available
• +$82M in property assessment credits

Existing 1M oz Gold Resource

• NI 43-101 resource at True North/Rice Lake (1M ounces @ 6.4 g/t Au)
• 2022 Resource review by SLR Consulting identified 4 new zones at True North Mine that could allow for significant resource expansion
• Over 2M oz of historic gold production

Compelling Regional Scale Gold Exploration Opportunity

• 100% ownership of over 63,000 hectares along a very prospective and underexplored greenstone belt
• Widespread gold mineralization identified at surface
• Numerous large multi- kilometer gold targets have been identified, developed and are being tested

Valuation

• Currently valued at C$6M market cap
• Attractive valuation for investors with potential for explosive upside with a new discovery

Projects in Hand

Rice Lake Gold Property, Manitoba

The Rice Lake Gold Property is located on the Archean Rice Lake greenstone belt, which is the western extension of the prolific Red Lake belt in adjacent Ontario, and is situated along the same fundamental crustal-scale structure (ancient plate-margin) that accounts for the exceptional gold endowment of this district. The Company’s consolidated land position, now totaling over 63,000 hectares after recent strategic acquisitions, covers an approximately 80 kilometre-long section of the Wanipigow Fault and includes the True North mine – the most significant past-producer in the Rice Lake belt, with over 2 million ounces of historic gold production.

True North Mine

High-grade gold within existing infrastructure with significant potential to expand known zones

• Historical resource: 1 million ounces at 6–7 g/t gold
• Potential expansion opportunities identified by past drilling
• Strategic land acquisition opportunities near mine possible
• Significant mineralized intercepts in the last drill program under Klondex in late 2017, including:
• 635-17-007: 2.3m @ 20.9 g/t Au
• 635-17-017: 7.1m @ 12.3 g/t Au
• 635-17-020: 1.8m @ 50.4 g/t Au
• 635-17-024: 12.4m @ 13.1 g/t Au
• 32-17-014: 1.8m @ 26.8 g/t Au
• 32-17-016: 4.8m @ 29.5 g/t Au
• 32-17-017A: 3.9m @ 52.5 g/t Au
• 32-17-022: 1.1m @ 179.9 g/t Au
• 32-17-024: 1.8m @ 38.3 g/t Au

Exploration Targets

SLR Consultants resource review identified several opportunities for resource expansion

• 2022 Review of the Resource Estimate identified four areas of resource potential
• Areas identified based on drill “defined” intercepts, averaging over 3 g/t Au
• Current focus is on rebuilding the underground resource model

Central Manitoba Project

Re-evaluating the Depth-Potential of the Central Manitoba Mine

• Historical production of 160,000 ounces @ 12.6 g/t Au from 5 shafts
• Mineralized veins extend for 2.5 km along strike at surface and range in thickness up to 6.5 metres of core width in structures up to 15 metres in width – comparable to the historical orebodies at Central Manitoba and True North
• Work completed showed that veins only mined to vertical depths <150 metres
• Strong potential for parallel vein systems at depth to the southeast

On December 5, 2023, 1911 Gold provided an update on corporate strategy on the near- and long-term plans for the Rice Lake property, including the True North underground mine.

Strategy Highlights

• Complete a detailed review of the current NI 43-101 resource for the True North underground mine, currently based on US$1,400 per ounce gold.
• Review additional areas of gold mineralization outlined in historical drilling at the True North underground mine which have significant additional resource potential accessible from existing infrastructure above the current resources and reserves,
• Conduct a comprehensive review of the resource potential of historic resources and past producers on the property (including the Central Manitoba and Ogama Rockland projects), including compilation of outstanding assay results from the 2022 drill program.
• Gary O’Connor, former President and Chief Executive Officer of Moneta Gold Inc. and an experienced geologist with over 35 years in the industry, has joined 1911 Gold as a key technical advisor to assist in executing this strategy.

Apex (Snow Lake) Gold Property, Manitoba

The Apex Gold Property, totalling 2,200 hectares, is located in the Paleoproterozoic Flin Flon–Snow Lake greenstone belt, which is one of the most productive belts of that age worldwide, hosting numerous world-class base metal deposits as well as the 1.5-million-ounce New Britannia gold deposit, located at Snow Lake, 14 kilometres northwest of the Apex Property. Significant gold deposits and occurrences in the district are spatially associated with the structurally complex northern margin of the belt; the Company’s Apex Property is situated between two crustal-scale faults cutting this margin, representing a highly favourable structural setting.

Denton-Keefer (Timmins) Gold Property, Ontario

The Denton-Keefer property (2,106 hectares) is located 30 kilometres southwest of Timmins, Ontario, adjacent to paved highway 101. The property includes a section of the Porcupine-Destor Fault directly on strike with the Timmins-Porcupine Gold Camp, which boasts over 70 million ounces of gold production. The property covers a 6.5-kilometre-long section of the Archean Abitibi greenstone belt, in a location where it ‘necks-down’ between two granitoid intrusions, representing a very favourable site for fluid focussing and gold deposition. This highly-prospective setting, geologically similar to those hosting giant gold deposits in the Timmins-Porcupine Gold Camp, is strategically positioned between Pan American Silver’s Timmins West mine and GFG Resources’ Pen Gold exploration project.

Management

Shaun Heinrichs, President and Chief Executive Officer, Director

Mr. Heinrichs has over 20 years of experience in senior corporate finance roles with significant experience in reporting, strategic planning, capital markets and M&A.

Carmen Amezquita, Chief Financial Officer

Ms. Amezquita has over 10 years working in the resource sector in a senior financial management capacity, with significant experience in both exploration and producing companies.

Dr. Scott Anderson, Vice President of Exploration

Dr. Anderson has over 30 years of experience in government geoscience, exploration, academia and consulting, specializing in structural geology, including a definitive study of the Rice Lake gold camp during his 17 years with the Manitoba Geological Survey.

Mike Hoffman, Chair

Jamie Haggarty, Director

Shastri Ramnath, Director

Gary O'Connor, Technical Advisor

News Update

On February 26, 2025, 1911 Gold Corp. has released the assay results from 13 drill holes for 3,222.40 metres (m) from the surface exploration drilling program currently in progress at the True North project, located on the company's 100-per-cent-owned Rice Lake gold property in southeastern Manitoba, Canada. It drilled 0.50 m of 21.80 g/t Au at True North. Highlights:

• Drill results defined near-surface, quartz-vein-hosted gold (Au) mineralization on the San Antonio Southeast (SAM (San Antonio mafic) SE) target.
• A second drill rig has been mobilized and is currently drill testing the extensions of the San Antonio West target.

Shaun Heinrichs, president and chief executive officer, stated: "This latest discovery is exciting not only because it is near mine and located within the same host rock unit that contains the prolific San Antonio zone, but also because the target is within the L-10 shear zone that hosts over 100,000 ounces where it intersects the shoreline basalt unit to the east. Our models also indicate that the L-10 shear zone extends to depth and contains the larger 710-711 vein resource, a stepout discovery on the 26 level in the True North mine. This is over 1,000 metres below surface, highlighting a large target zone between the near-surface mineralization intersected in these drill holes and the mineral resources at depth. Using these results and historical drilling data in the area, Michele and his team have designed a follow-up program to test for extensions of this mineralization along strike and to depth."

On February 04, 2025, 1911 Gold Corporation announced that the assay results from ten (10) drill holes for 2,222.00 metres ("m") from the surface exploration drilling program currently in progress at the True North Project located on the Company's 100%-owned Rice Lake Gold property in Manitoba, Canada.

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.

Shaun Heinrichs, President & CEO, stated, "When we first reviewed our updated model in 2024 and identified these prospective targets, we were surprised to find that these areas had largely remained untested at the surface, despite positive results at depth or along strike. Now that we are seeing the initial results from our first phase of drilling, we are excited about the potential for a parallel vein structure at San Antonio West, as well as the possible near-surface mineralization at Hinge East. Using these results and historical drilling data in the area, Michele and his team have designed a follow-up program to trace this mineralization along strike and to depth. A second drill rig will mobilize in the coming weeks as we expand the drill program and continue advancing these targets alongside the ongoing drilling underway at the San Antonio Southeast target.

On January 22, 2025, 1911 Gold Corp. has provided an overview of the company's key 2024 achievements and outline its aggressive 2025 growth strategy for its 100-per-cent-owned True North gold project and the surrounding Rice Lake property in southeastern Manitoba, Canada.

The 2025 exploration program will be focused on aggressively targeting the mineral resource expansion potential at True North, identifying new high-grade zones within the mining lease and greater Rice Lake gold belt, and advancing the development of a district-scale gold camp centred on the True North complex.

Shaun Heinrichs, president and chief executive officer of 1911 Gold, commented: "Two thousand twenty-four was a pivotal year for 1911 Gold with the delivery of a new mineral resource estimate, the commencement of 1911's first-ever drill program within the existing mine lease area and the completion of a strategic financing led by a new corporate investor. Building on this success, our 2025 exploration and development plans are fully funded and designed to aggressively grow the resource potential at True North and advance the project toward production. With one drill rig currently turning and another planned soon, we aim to drill at least 15,000 m in 2025, making it a truly transformative year for 1911 Gold. We have the team, the assets and the capital to deliver on our objective of building a multimillion-ounce, high-grade gold camp at True North."

On January 13, 2025, 1911 Gold Corporation completed the private placement.

Financing type: non-brokered private placement

Gross proceeds: $7,776,289.60

Offering: 10,645,540 flow-through listed shares; 7,027,828 non-flow-through listed shares; 20,032,760 additional flow-through listed shares

Offering price: 18.500 cents per flow-through listed share; 14.500 cents per non-flow-through listed share; 23.900 cents per additional flow-through listed share

On January 08, 2025, 1911 Gold Corp. has granted a total of 166,665 deferred share units (DSUs) to four directors under the long-term incentive plan in respect of second half 2024 director fees. Each DSU entitles the holder to receive one share of the company, or in certain circumstances a cash payment equal to the value of one share of the company, at the time the holder ceases to be a director of the company.

On January 02, 2025, Following the release of an updated underground mineral resource estimate for the True North gold project on Nov. 20, 2024, 1911 Gold Corp. has filed the National Instrument 43-101 technical report for the 100-per-cent-owned project in southeastern Manitoba, Canada.

Shaun Heinrichs, president and chief executive officer of 1911 Gold, commented: "We are pleased to have completed the compilation and filing of the updated mineral resource estimate technical report for the True North gold project. The new robust resource estimate forms the base of our plans moving forward both for the recommencement of production and the expansion and growth of resources at the True North gold mine. We have a significant exploration drill program under way on a number of new targets and are moving to expand this program in 2025 with more resource expansion drilling."

The updated NI 43-101 report is available for review on both SEDAR+ and the company's website.

On December 10, 2024, 1911 Gold Corp. has upsized its previously announced non-brokered private placement offering to now raise aggregate gross proceeds of up to $8.1-million. The offering has also been amended to now include a combination of: (i) common shares in the capital of the company that will qualify as flow-through (FT) shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) issuable to residents of Manitoba at a price of 23.9 cents per Manitoba FT share; (ii) common shares in the capital of the company that will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) at a price of 18.5 cents per national FT share; and (iii) common shares in the capital of the company at a price of 14.5 cents per common share.

The proceeds raised from the offering will be used by the company as follows: (i) an amount equal to the gross proceeds received by the company from the sale of the FT shares are expected to be used to finance exploration programs qualifying as Canadian exploration expenses and flow-through mining expenditures (as those terms are defined in the Income Tax Act (Canada)) at the company's projects in Manitoba; and (ii) the net proceeds from the sale of the common shares are expected to be used primarily to finance the continuing review and optimization of the future underground mining operations, as well as for general corporate purposes.

On December 09, 2024, 1911 Gold Corp. has provided an update on exploration strategy on the True North project, following the recently released updated National Instrument 43-101 mineral resource estimate. The company also plans to complete a financing to support this strategy by way of a non-brokered private placement of flow-through shares for aggregate proceeds of up to $5-million, with a lead investment from a corporate investor.

Shaun Heinrichs, president and chief executive officer, commented: "With our work now complete on rebuilding the True North MRE, we have the right foundation to support the next phase of growth on our Rice Lake property. The progress to date has significantly advanced our understanding of the geology at the True North project and also attracted additional investment from a growing mid-tier gold producer. With this additional capital in place, we will continue our current exploration program on surface while completing our work on an economic mine plan based on the updated MRE to provide the foundation for a restart in the near future."

On October 03, 2024, 1911 Gold Corp. has mobilized a drill rig for the 2024 surface drill program, commencing mid-October, 2024, at the company's 100-per-cent-owned Rice Lake gold property in Manitoba, Canada. Highlights:

• Initial 6,000-metre (m) drill program planned to commence in mid-October, focusing on near-surface targets within the True North gold mine footprint;
• Three priority drill target areas generated through detailed data review and updated geological interpretation:
• San Antonio West target: three drill holes totalling 1,200 metres (m) testing a large target hosted within the prolific San Antonio mafic with historical drill intercepts of up to 3.38 m at 7.93 grams per tonne (g/t) gold (Au) and 3.08 m at 9.80 g/t Au;
• San Antonio Southeast target: four drill holes totalling 2,500 m testing a significant target area located within the San Antonio mafic with historical drill assays of up to 3.20 m at 6.25 g/t Au and 3.63 m at 4.01 g/t Au;
• Cohiba East target: three drill holes totalling 1,300 m testing two subparallel structures, covering the eastern extensions of the Cohiba mine, with historical drill intercepts of up to 1.58 m at 41.51 g/t Au and 5.85 m at 8.39 g/t Au, including 2.74 m at 13.17 g/t Au;
• An additional 1,000 m have been allocated for follow-up drilling based on results;
• Additional drill targets expected to be generated following finalization of the mineral resource update later this month, focused on resource expansion drilling.

Shaun Heinrichs, president and chief executive officer, stated: "Our new team is very excited to be drilling several key targets at our True North mine asset. The three target areas each show significant potential to host high-grade gold mineralization and can be easily upgraded to mineral resources due to their close proximity to existing infrastructure and underground mine workings. With the forthcoming mineral resource estimate update, we will also be looking to generate additional resource extension and expansion targets. The exploration team has also identified additional new resource drill targets at depth which, combined with the pending resource expansion targets and current shallow drill targets, highlight the significant potential to increase the gold resource base at the True North gold mine."

On September 26, 2024, 1911 Gold Corp. has received $1,666,667 from the recent warrant exercise by 2176423 Ontario Ltd, a corporation that is beneficially owned by Eric Sprott, and will finalize plans for the upcoming drill program, set to commence in mid-October, at the company's 100-per-cent-owned Rice Lake gold property in Manitoba, Canada.

These funds will allow the company to finalize the plans for drilling expected to commence in October and mobilize the drill contractor to site, along with additional drilling support services. The company will provide the full details for the drill program in the following weeks. All planned drill targets are located within the existing mine footprint.

"On behalf of the board, I would like to sincerely thank Eric Sprott for his substantial early warrant exercise and continued support of the company," stated Shaun Heinrichs, president and chief executive officer. "I expect we will see more warrants exercised over the coming weeks with the release of the updated mineral resource estimate and in support of the company's upcoming drill program."

On August 07, 2024, Further to 1911 Gold Corp.'s news release of July 8, 2024, the actual number of deferred share units (DSUs) issued to four directors under the company's long-term incentive plan in respect of Q2 (second quarter) 2024 director fees was 103,647. Each DSU entitles the holder to receive one share of the company or, in certain circumstances, a cash payment equal to the value of one share of the company, at the time the holder ceases to be a director of the company.

On July 18, 2024, 1911 Gold Corporation, a gold exploration and development company with an advanced stage project in Bissett, Manitoba, announced that Shaun Heinrichs, President and CEO, will present live at the Battery & Precious Metals Virtual Investor Conference hosted by VirtualInvestorConferences.com on July 23rd and 24th.

On July 08, 2024, 1911 Gold Corp. has granted a total of 200,000 options to purchase common shares of the company to Blair Schultz, a newly appointed director to the company, pursuant to the company's long-term incentive plan (the LTIP). Such options have an exercise price of 11 cents per common share and expire on July 8, 2029, and vest as to one-third immediately and one-third after the first and second anniversaries of the date of grant.

The company will also issue a total of 8,902 deferred share units (DSUs) to three directors under the LTIP in respect of Q2 2024 director fees. Each DSU entitles the holder to receive one share of the company, or in certain circumstances a cash payment equal to the value of one share of the company, at the time the holder ceases to be a director of the company.

On June 27, 2024, 1911 Gold Corp. has released the results of its 2024 Annual General and Special Meeting (the "Meeting") of shareholders held on Wednesday, June 26, 2024, in Vancouver, Canada. Shareholders holding 58,765,642 common shares, or 43.7% of the outstanding common shares of the Company were represented in person or by proxy at the Meeting and voted in favour of all matters brought before the Meeting:

Electing each management-nominated director;

Appointing Baker Tilly WM LLP as the Company's auditor;

An ordinary resolution approving the Company's new long-term incentive plan;

An ordinary resolution of disinterested shareholders approving the creation of a new Control Person.

On June 20, 2024, 1911 Gold Corp. has provided an update on the strategic plans for the advancement of the True North mine, including a National Instrument 43-101 mineral resource estimate update, located within the prolific Rice Lake property in southeastern Manitoba, Canada.

Project Update :

• Resource Model Quality: Completed a detailed review of the current Mineral Resource geological model and confirmed the integrity of the geological interpretation.
• Drill Hole Data Review: Completed a review of the True North drill hole data, identifying areas where information is required but confirming its integrity and accuracy.
• Mineral Resource Estimate: Completed validation of the current Mineral Resource Estimate with results being able to re-produce the tonnes, grades and contained ounces.
• Near Mine Geology and Structural Controls: Confirmed the presence of major regional structures hosted by mafic lithological units, the primary control for gold mineralization at True North, critical for target generation in the future.
• Manitoba Mineral Development Fund ("MMDF") Grant: The Company was approved for $180,986 in funding under Manitoba's resource development program administered by the MMDF.

Mr. Shaun Heinrichs, President and CEO of 1911 Gold, commented, "Our team's diligent efforts in assessing and updating the geological model have significantly advanced our understanding of the True North mine. Using this updated, robust geological interpretation we are actively working on prioritizing targets that have resource expansion potential within the existing mine footprint for follow up after completing the Mineral Resource Estimate. We are also grateful for the ongoing support we have received from the Manitoba government and look forward to achieving further milestones in building a core resource project for the province."

On April 15, 2024, 1911 Gold Corp. has appointed Gary O'Connor to the board of directors as executive chair with immediate effect. Mike Hoffman, the outgoing Independent Chair, will continue to serve as a Director of the Company and stand for re-election at the upcoming annual general meeting.

"On behalf of myself and the other Directors, I am pleased to extend a warm welcome to Gary as the latest member of the 1911 Gold Board and management team." Shaun Heinrichs, President, and CEO stated, "Working closely with Gary these last several months has shown me the strength of his analytical and technical skills, as well as the leadership he provides as we identify and develop the key opportunities for 1911 Gold. The combination of Gary and the recently hired VP Exploration, Michele Della Libera, provide the right experience and background we need to transform the Rice Lake belt into a profitable, long term gold producer."

On April 11, 2024, 1911 Gold Corp. has appointed Michele Della Libera as vice-president, exploration. Mr. Della Libera will be an integral part of updating the current National Instrument 43-101 resource for the True North underground mine as well as identifying opportunities for resource growth within the footprint of the existing infrastructure, and in the surrounding, 63,000-hectare Rice Lake green-stone belt.

"We are pleased to welcome Michele to the 1911 Gold team," stated President and CEO Shaun Heinrichs. "His extensive resource development experience will add significant strength and depth to our team and comes at a critical time where our focus is on confirming the mineral resources within the existing True North underground mine and surrounding near mine footprint. With Michele's knowledge and track record of building resources we hope to unlock the potential within the Rice Lake belt and fully utilize the existing permitted mill and mine infrastructure."

February 22, 2024, 1911 Gold Drilling Confirms Extensions of Gold Zones at Historical Central Manitoba Gold Mine.

Highlights

Central Manitoba:

• Drill results confirmed the extensions of gold mineralized structures over 400 metres of strike length on the Wentworth vein corridor and over 270 m of strike length on the Hope-Roger vein corridor.
• Drill hole CM-22-010 intersected 2.75 metres of 2.27 g/t gold at a down-hole depth of 31.10 m, including 0.55 m of 10.10 g/t Au.
• Drill hole CM-22-009 intersected 1.25 m of 3.28 g/t Au at a down-hole depth of 122.25 m, including 0.55 m of 7.23 g/t Au.

Palomar:

• Drill hole PL-22-003 intersected 3.20 m of 1.90 g/t Au at a down-hole depth of 135.20 m, including 0.80 m of 7.16 g/t Au, in the first drill hole drilled on this target.

Shaun Heinrichs, 1911 Gold's president and chief executive officer, stated: “We are encouraged with the results returned from the large stepouts drilled at the historical Central Manitoba gold mine. This structure spans over 2.6 kilometres in length and our drill results, combined with historical data, indicate a potentially large, mineralized structure open at depth and to the southeast. Some of our best results were from large stepouts into previously untested areas and extended known zones as well as identified new zones, all remaining open. These findings, along with our progress on validating and updating the existing mineral resource estimate for the True North mine, will significantly advance us towards a sustainable resource and production profile leveraging our existing infrastructure.”

https://www.1911gold.com/news/press-releases/1911-gold-drilling-confirms-extensions-of-gold-zones-at-historical-central-manitoba-gold-mine

December 27, 2023, 1911 Gold announced that it has closed its previously announced non-brokered private placement, raising gross proceeds of $3,900,000, with Eric Sprott investing $1,000,000 for a 12.4% ownership position in the Company.

https://www.1911gold.com/news/press-releases/1911-gold-announces-closing-of-non-brokered-private-placement-lead-by-eric-sprott

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