1911 Gold Intersects Significant Grades at L10 Zone, Including 10.73 g/t Au over 8.90 m and 50.61 g/t Au over 1.60 m, and Confirms Link to Larger 710-711 Zone at True North

High-grade L10 drilling will feed a Q4 2026 global resource update, while a loan amendment extends Tranche 2 availability but adds funding conditions.

Rhea-AI Summary

1911 Gold (AUMBF) reported new high-grade underground drill results from the L10/710-711 Complex Link at the True North Gold Project and amended its existing loan agreement with Auramet International. Eight additional diamond drill holes totaling 2,955 m from Level 16 extended gold mineralization outside the 2024 mineral resource estimate, confirming a link between the L10 Zone and the larger 710-711 Zone. Highlight intercepts include 10.73 g/t Au over 8.90 m in hole UG16-26-072 and 50.61 g/t Au over 1.60 m in UG16-26-076, with multiple narrower, higher-grade sub-intervals. In total, 20 holes for 6,563 m have been completed on L10, with eleven confirming the complex link. A global mineral resource update for True North and Ogama-Rockland is expected in Q4 2026. Separately, the Tranche 2 availability period under the Auramet loan has been extended to December 4, 2026, with a new cost-to-completion funding condition.

Positive

• High-grade intercepts including 10.73 g/t Au over 8.90 m and 50.61 g/t Au over 1.60 m in L10/710-711 link drilling
• Resource expansion potential as all 8 new holes extend mineralization outside the 2024 mineral resource estimate and confirm linkage to 710-711
• Drilling progress with 20 holes totaling 6,563 m completed on L10, eleven confirming the L10/710-711 Complex Link
• Upcoming global resource update for True North and Ogama-Rockland expected in Q4 2026, incorporating multiple zones and new discoveries
• Loan flexibility as the Tranche 2 availability period under the Auramet facility is extended to December 4, 2026

Negative

• Additional financing condition added to Tranche 2 drawdown, requiring an agreed, fully funded cost-to-completion estimate before access
• Time-limited loan availability with Tranche 2 only drawable until December 4, 2026 unless the lender grants a further extension

News Explained

Tranche 2 remains potential financing: the September 4 amendment extends its window but requires agreed, fully funded completion costs before drawdown.

Effective September 4, 2026, 1911 Gold amended its Auramet loan: the Tranche 2 availability window now runs to December 4, 2026, but the release describes potential borrowing rather than a completed drawdown. Any drawdown must have a cost-to-completion estimate reasonably agreed with the lender and fully funded, so the amendment changes access timing and conditions rather than disclosing new cash received.

The lender may extend that window further at its sole discretion; the new condition therefore remains an approval requirement for Tranche 2, not a commitment that the funds will be advanced.

Geological wireframe modelling for the updated True North resource estimate has commenced, while follow-up L10 drilling is planned for 2027 after the resource update, making that estimate the stated checkpoint before the next drilling phase.

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VANCOUVER, BC, Sept. 10, 2026 /PRNewswire/ -- 1911 Gold Corporation ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF) (FRA: 2KY) is pleased to announce assay results from the underground resource expansion 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 represent eight (8) diamond drill holes for 2,955 m from the underground resource expansion drill program targeting the potential link between the L10 Zone ("L10"), and the larger 710-711 Zone ("710-711"), outside of the current mineral resources ("2024 MRE"). Drilling was conducted from Level 16 (-720 m depth) to test the extensions of L10 vein system and confirm the link with the 710-711 vein system, referred to as the "L10/710-711 Complex Link" (see press release dated May 12, 2026, entitled "1911 Gold Confirms Extensions of the L10 Zone at True North, intersecting 11.54 g/t Au over 3.70 m").

Highlights:

• Drilling on L10 confirmed the extensions of gold mineralization outside of the 2024 MRE, on veins linking L10 with the larger 710-711 Zone at depth
• Drilling within the L10-710-711 Complex Link target area intersected the following highlighted results:
  • UG16-26-072: Intersected 10.73 grams per tonne ("g/t") Au over 8.90 m (at 245.30 m downhole depth), including 16.12 g/t Au over 5.40 m, including 49.50 g/t Au over 0.80 m
  • UG16-26-076: Intersected 50.61 g/t Au over 1.60 m (at 219.20 m downhole depth), including 65.80 g/t Au over 1.00 m
  • UG16-26-074: Intersected 8.72 g/t Au over 1.70 m (at 189.30 m downhole depth), including 19.70 g/t Au over 0.60 m
  • UG16-26-068: Intersected 3.58 g/t Au over 3.60 m (at 193.00 m downhole depth), including 10.60 g/t Au over 0.50 m
• The exploration drill program targeting resource expansion outside of the 2024 MRE and resource potential from the new discoveries at True North, will be included as part of a global mineral resource estimate expected in the fourth quarter of 2026 ("Q4/2026")

Shaun Heinrichs, President and CEO, stated, "Over the last two years, our exploration program has systematically tested the true size potential of the True North mine lease area, beginning with surface drilling that led to several new discoveries. Once we regained underground access, we tested the depth extensions of the new discoveries, as well as the resource expansion potential of known zones. The high-grade results reported today, highlighted by 50.61 g/t Au over 1.60 m, confirm a critical connection between L10 and the much larger 710-711 Zone, delivering exactly the kind of upside we were targeting, and will be incorporated into our fall resource estimate. The results from our ongoing exploration program continue to underscore True North's growth potential, which is central to the district-scale opportunity."

1911 Gold has now completed a total of 20 drill holes for 6,563 m as part of the resource expansion drill program on L10, with eleven (11) drill holes confirming the L10/710-711 Complex Link.  Additional drill results from True North, consisting of resource expansion as well as infill and delineation drilling are pending and will be released once assays have been received.

Table 1: Select Significant Drill Results – Resource Expansion Drill Program at True North (L10/710-711 Complex Link)

Vein Name	Drill Hole (number)	From (m)	To (m)	Interval (m)	Gold (g/t Au)
New vein	UG16-26-068	83.70	84.30	0.60	2.95
V1020	UG16-26-068	148.00	148.60	0.60	5.98
V1020	UG16-26-068	150.70	152.70	2.00	4.71
V1010	UG16-26-068	193.00	196.60	3.60	3.58
V1010	Including	193.50	194.00	0.50	10.60
V1012	UG16-26-068	208.30	212.10	3.80	2.26
V1012	Including	211.60	212.10	0.50	6.84
V710	UG16-26-068	257.90	258.90	1.00	2.49
V710	UG16-26-068	263.20	264.10	0.90	2.71
V1020	UG16-26-070	141.60	143.40	1.80	2.59
V1011	UG16-26-070	189.70	190.40	0.70	2.73
V1020	UG16-26-072	142.30	144.00	1.70	2.76
V1011	UG16-26-072	189.80	190.60	0.80	3.30
V1010	UG16-26-072	225.50	226.00	0.50	2.80
V709	UG16-26-072	245.30	254.20	8.90	10.73
V709	Including	245.30	250.70	5.40	16.12
V709	Including	245.90	246.70	0.80	14.20
V709	Including	246.70	247.40	0.70	12.60
V709	Including	248.20	249.00	0.80	17.60
V709	And	249.90	250.70	0.80	49.50
V715	UG16-26-074	179.90	180.50	0.60	3.13
V715	UG16-26-074	186.00	186.70	0.70	3.60
V715	UG16-26-074	189.30	191.00	1.70	8.72
V715	Including	190.40	191.00	0.60	19.70
V710	UG16-26-074	333.70	335.50	1.80	5.56
V710	Including	333.70	334.40	0.70	7.90
V710	And	335.00	335.50	0.50	7.98
V709	UG16-26-076	206.90	207.60	0.70	3.43
V709	UG16-26-076	211.50	212.30	0.80	3.19
V708	UG16-26-076	219.20	220.80	1.60	50.61
V708	Including	219.20	220.20	1.00	65.80
V708	And	220.20	220.80	0.60	25.30
HW V710	UG16-26-076	309.70	313.80	4.10	2.24
HW V710	UG16-26-076	320.50	321.40	0.90	2.90
V1020	UG16-26-077	173.80	174.50	0.70	4.31
V1020	UG16-26-077	178.80	179.40	0.60	16.30
V715	UG16-26-077	214.00	217.70	3.70	4.05
V715	Including	214.70	215.20	0.50	20.90
V707	UG16-26-077	375.40	376.00	0.60	9.33
V709	UG16-26-080	252.50	253.30	0.80	11.90
V708	UG16-26-080	273.50	277.90	4.40	2.66
V708	Including	273.50	274.00	0.50	7.18
V708	And	277.00	277.90	0.90	6.11
V707	UG16-26-080	311.80	312.30	0.50	7.36

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)	Intercepts reported as downhole depths (m)
5)	Drill hole information included in Table 3 below

L10 Resource Expansion Drilling: Discussion of Results

The L10 Zone is located on the intersection of the Shoreline Basalt unit and the regional east-west steeply north-dipping L10 Shear Zone, with gold-bearing mineralization associated with veins developed as generally north-west trending extensional stockwork and breccia veins and east-west steeply north-dipping shear veins. Veining is predominantly composed of quartz with accessory Fe-carbonate and albite, with sericite-pyrite and chlorite as veinlets and pervasive alteration halos. Gold is associated with minor pyrite and as free native gold.

The L10 Shear Zone hosts a series of mineralized veins associated with the L10 and 710-711 Zones. All 8 holes confirmed the extension of gold mineralization in multiple veins, validating the link with the deeper and larger 710-711 Zone and supporting the potential to expand the current resources.

These results are located adjacent to the previously reported drill holes from the same target area, including UG16-26-055¹, which intersected 5.48 g/t Au over 9.20 m (at 195.50 m downhole depth), including 7.52 g/t Au over 4.10 m, including 12.00 g/t Au over 2.00 m, and including 14.80 g/t Au over 1.00 m, and 11.54 g/t Au over 3.70 m (at 224.10 m downhole depth), including 13.65 g/t Au over 2.30 m, and including 20.20 g/t Au over 0.70 m, from drill hole UG16-26-055¹.

1 - See press release dated May 12, 2026 (1911 Gold Confirms Extensions of the L10 Zone at True North Intersecting 11.54 g/t Au over 3.70 m).

Drilling from the current exploration drill program targeting the L10/710-711 Complex Link intersected significant grades in the following drill holes:

• UG16-26-072 intersected 10.73 g/t Au over 8.90 m (at 245.30 m downhole depth), including 16.12 g/t Au over 5.40 m, including 17.60 g/t Au over 0.80 m, and 49.50 g/t Au over 0.80 m within vein V709;
• UG16-26-074 intersected 8.72 g/t Au over 1.70 m (at 189.30 m downhole depth), including 19.70 g/t Au over 0.60 m within vein V715;
• UG16-26-077 intersected 4.05 g/t Au over 3.70 m (at 214.00 m downhole depth), including 20.90 g/t Au over 0.50 m within vein V715; and
• UG16-26-080 intersected 11.90 g/t Au over 0.80 m (at 252.50 m downhole depth) within vein V709.

The L10 Zone is readily accessible via the main A Shaft on the Level 16 drift and is open approximately 200 m down-plunge to the NNE and over 200 m along strike to the NW towards the upper extent of the 710-711 zone, located within the same geological setting. Follow-up drilling will be planned in 2027, once all data has been compiled and following completion of the resource update in Q4/2026.

Next Steps

Geological wireframe modelling of the veins has commenced for the updated True North resource estimate, expected in Q4/2026, which will be combined with the Ogama-Rockland Gold Project into a global resource update. The estimate will incorporate surface and underground exploration drilling at the near-mine discoveries (San Antonio West, San Antonio Southeast, and Shore) as well as resource expansion drilling at L10 (including the L10/710-711 Complex Link), and the 007 and Hinge Zones.

Current drilling activities are being conducted from underground with three (3) drill rigs focused on infill and delineation of areas contemplated for test mining and the early years of the Preliminary Economic Assessment (PEA) mine plan. Two (2) drill rigs are active on Level 16, and a third is active from the Hinge decline. A fourth underground drill rig will be mobilized upon completion of rehabilitation on Level 26.

Table 2: True North Drill Hole Details (UTM NAD83 Zone 15)

Drill Hole (Number)	Northing* (m)	Easting*   (m)	Elevation  (masl)	Azimuth (°)	Inclination (°)	Depth (m)
UG16-26-068	5,656,054	313,512	-465	190	-35	351.0
UG16-26-070	5,656,054	313,513	-465	175	-50	363.0
UG16-26-072	5,656,055	313,512	-465	184	-64	300.0
UG16-26-073	5,656,055	313,512	-465	209	-48	330.0
UG16-26-074	5,656,055	313,513	-465	166	-70	405.0
UG16-26-076	5,656,055	313,512	-465	215	-63	354.0
UG16-26-077	5,656,055	313,513	-465	176	-83	441.0
UG16-26-080	5,656,056	313,511	-465	247	-72	411.0

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)

Oriented 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 to or greater than 10.00 g/t are reanalyzed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or samples with 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.

Loan Agreement Extension

The Company also announces that it has entered into an amendment to its loan agreement dated February 19, 2026 (the "Loan Agreement") with Auramet International, Inc. (the "Lender"). Pursuant to the amendment, dated effective September 4, 2026, the availability period during which the Tranche 2 amount may be drawn has been extended to December 4, 2026, and may be further extended by the Lender in its sole discretion. The amendment also introduces an additional condition precedent to the Tranche 2 drawdown, requiring a cost to completion estimate for the project to be reasonably agreed between the Company and the Lender and to be fully funded. All other terms and conditions of the Loan Agreement remain in full force and effect.

About 1911 Gold Corporation

1911 Gold is an advanced gold explorer and developer focused on its 100%-owned True North Gold Project in the Archean Rice Lake Greenstone Belt in Manitoba, Canada. The Company controls a large, highly prospective ~62,000-hectare land package with numerous past-producing gold operations within trucking distance of the fully built and permitted True North mine and mill complex. 1911 Gold is positioning itself to make a decision on restarting operations in the future and offers a unique investment opportunity with significant exploration upside. The strategy is to build a district-scale gold mining operation around centralized and readily expandable infrastructure to support a socially and environmentally responsible, long-term mining operation with little development risk and a growing mineral resource base.

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 its 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 contains forward-looking information or forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or that describe a "goal", or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the ongoing drill programs and the timing and results thereof, preparation and delivery of a global resource estimate, the targets to be included and the timing thereof, and ongoing development work to advance the project towards a potential production decision, and the Company's objectives, goals and future plans and strategies, are forward-looking statements. 

While 1911 Gold has not made a production decision, should 1911 Gold make such a decision in the future without a feasibility study of mineral reserves, demonstrating economic and technical viability, there may be increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that 1911 Gold will make a production decision, and, if it does, there is no guarantee that any production will begin as anticipated or at all or that any anticipated production costs will be achieved. Failure to make a positive decision to commence production would have a material adverse impact on 1911 Gold's ability to generate revenue and cash flow to fund operations. Failure to achieve any anticipated production costs would have a material adverse impact on 1911 Gold's cash flow and future profitability.

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, predictions, projections, forecasts, performance or achievements expressed or implied by the 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.

In addition, readers are directed to review the detailed risk discussion in the Company's Annual Management's Discussion & Analysis for the year ended December 31, 2025, filed on SEDAR+, which discussions are incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.

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 TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE 1911 Gold Corporation

FAQ

What are the most notable new drill intercepts from the L10/710-711 Complex Link at True North?

Highlighted results include: UG16-26-072 with 10.73 g/t Au over 8.90 m at 245.30 m downhole, including 16.12 g/t Au over 5.40 m and up to 49.50 g/t Au over 0.80 m in vein V709; UG16-26-076 with 50.61 g/t Au over 1.60 m at 219.20 m, including 65.80 g/t Au over 1.00 m in vein V708; UG16-26-074 with 8.72 g/t Au over 1.70 m, including 19.70 g/t Au over 0.60 m in vein V715; and UG16-26-077 with 4.05 g/t Au over 3.70 m, including 20.90 g/t Au over 0.50 m in vein V715.

How extensive is the current L10 resource expansion drilling and what does it demonstrate?

1911 Gold has completed 20 drill holes totaling 6,563 m on the L10 Zone. All eight newly reported holes extended gold mineralization in multiple veins, and eleven holes in total have confirmed the L10/710-711 Complex Link. The L10 Zone remains open approximately 200 m down-plunge to the north-northeast and over 200 m along strike to the northwest toward the upper extent of the 710-711 Zone.

What will be included in the Q4 2026 global mineral resource update?

The global resource estimate expected in Q4 2026 will combine True North and the Ogama-Rockland Gold Project. It will incorporate surface and underground exploration drilling at near-mine discoveries (San Antonio West, San Antonio Southeast, Shore), resource expansion drilling at L10 including the L10/710-711 Complex Link, and work on the 007 and Hinge Zones.

What drilling activities are currently underway at True North and what is planned next?

Three underground drill rigs are active, focusing on infill and delineation drilling in areas contemplated for test mining and the early years of the Preliminary Economic Assessment mine plan. Two rigs are operating from Level 16 and one from the Hinge decline. A fourth underground rig is planned to be mobilized once rehabilitation on Level 26 is completed, and follow-up drilling on L10 is planned for 2027 after completion of the Q4 2026 resource update.

What quality assurance and quality control (QA/QC) procedures are used for the drill assays?

Drill core is cut in half, with one half sampled and the other retained. Samples are sent to Activation Laboratories in Thunder Bay, where they are dried, crushed to 2 mm and a 1 kg split is pulverized to -200 mesh. Gold is analyzed by 50 g fire assay with atomic absorption finish, with samples returning ≥10.00 g/t Au reanalyzed by fire assay with gravimetric finish. Screen Metallic Sieve analysis is used for highly mineralized or visible-gold samples. Certified reference materials are inserted every 20 samples, blanks every 50 samples (with additional blanks after visible-gold samples), and 5% of pulps are reanalyzed at ALS-Chemex in North Vancouver.

What are the key terms of the amendment to the Auramet loan agreement?

Effective September 4, 2026, the amendment extends the availability period for drawing the Tranche 2 amount to December 4, 2026, with the possibility of further extension at the lender’s sole discretion. It also adds a new condition precedent requiring a cost-to-completion estimate for the project to be reasonably agreed between 1911 Gold and Auramet and to be fully funded before Tranche 2 can be drawn. All other terms of the original February 19, 2026 loan agreement remain in effect.