1911 Gold's True North Resource Expansion Drilling Intersects up to 7.55 g/t Au over 5.00 m, Including 32.90 g/t Au over 0.50 m at the 710-711 Zone, and up to 21.20 g/t Au over 0.60 m at the 007 Zone

The resource update is expected to include three discoveries alongside extensions of existing zones.

Rhea-AI Summary

1911 Gold (AUMBF) reported underground drilling results confirming gold mineralization extensions outside the current resource estimate at its True North project. The latest results cover 10 holes totaling 4,562 metres. Hole UG16-26-079 returned 7.55 grams of gold per tonne over 5.00 metres, including 32.90 g/t over 0.50 metres, in the 710-711 vein system. At 007, UG16-26-060 returned 21.20 g/t over 0.60 metres, while UG16-26-085 returned 7.65 g/t over 3.40 metres.

Mineralization extended 60 metres above the 710-711 resource limit over a 115-metre strike length, and 120 metres below 007 over a 150-metre strike length. Two holes testing eastward extensions returned no significant results. The surface and underground exploration program is complete. An updated resource estimate is expected in Q4/2026; exploration drilling will resume after results are assessed. Infill and delineation drilling continues with three underground rigs.

Positive

• Minor point710-711 mineralization extended 60 m above the resource limit over a 115 m strike length.
• Minor point007 mineralization extended 120 m below the resource limit over a 150 m strike length.
• Minor pointUG16-26-079 intersected 7.55 g/t gold over 5.00 m, including 32.90 g/t over 0.50 m.
• Minor pointUG16-26-060 intersected 32.40 g/t gold over 1.10 m in V710.
• Minor pointUG16-26-085 intersected 7.65 g/t gold over 3.40 m, including 19.60 g/t over 0.60 m.

9 minor points

• Minor pointUG16-26-060 intersected 21.20 g/t over 0.60 m and 9.92 g/t over 0.60 m at 007.
• Minor pointUG16-26-079 intersected 7.43 g/t gold over 1.50 m in V711.
• Minor pointUG16-26-054 intersected 6.84 g/t gold over 2.50 m, including 16.60 g/t over 0.50 m.
• Minor pointUG16-26-071 intersected 3.42 g/t gold over 3.60 m, including 4.75 g/t over 1.20 m.
• Minor pointUG16-26-069 intersected 3.51 g/t gold over 2.40 m, including 5.94 g/t over 1.00 m, at 007.
• Minor pointCompleted exploration program comprised 103 surface holes totaling 28,475 m and 46 underground holes totaling 17,346 m.
• Minor point. Forward-looking: it has not happened yet and may not happen.Resource update expected in Q4/2026 will include three discoveries and extensions of existing resources.
• Minor pointOngoing infill and delineation drilling uses three underground rigs in areas contemplated for test mining and early mine years.
• Minor point. Forward-looking: it has not happened yet and may not happen.A fourth underground rig is planned for mobilization after Level 26 rehabilitation.

Negative

• Minor pointEastward-extension holes UG16-26-056 and UG16-26-057 returned no significant results.
• Minor pointCompleted surface program included four holes abandoned before reaching target depth.
• Minor point. Forward-looking: it has not happened yet and may not happen.Exploration drilling restart depends on assessment and review of the completed program's results.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fourth underground rig mobilization depends on completion of Level 26 rehabilitation.

News Explained

Work on the True North resource update has commenced, with completion scheduled for Q4 2026; the update will incorporate both the completed exploration results and the ongoing infill and delineation program, meaning it is not limited to the newly reported expansion drilling.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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VANCOUVER, BC, Oct. 6, 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 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 ten (10) diamond drill holes totaling 4,562 metres ("m"), completed as part of the underground resource expansion drill program. Drilling targeted potential extensions of the 710-711 and 007 zones outside the current Mineral Resource Estimate (the "2024 MRE"). Both target areas were tested from drill bays on Level 16 (720 m below surface, see Figure 1). 

Highlights:

• Drilling on the 710-711 vein system confirmed extensions of gold mineralization outside the 2024 MRE, with the following highlighted results:
  • UG16-26-079: Intersected 7.55 grams per tonne ("g/t") gold ("Au") over 5.00 m (at 277.00 m downhole depth), including 16.65 g/t Au over 1.20 m, including 32.90 g/t Au over 0.50 m, and 25.80 g/t Au over 0.50 m
  • UG16-26-060: Intersected 32.40 g/t Au over 1.10 m (at 197.80 m downhole depth)
  • UG16-26-079: Intersected 7.43 g/t Au over 1.50 m (at 245.90 m downhole depth), including 7.70 g/t Au over 1.00 m
  • UG16-26-054: Intersected 6.84 g/t Au over 2.50 m (at 325.00 m downhole depth), including 11.23 g/t Au over 1.30 m, including 16.60 g/t Au over 0.50 m
  • UG16-26-071: Intersected 3.42 g/t Au over 3.60 m (at 275.90 m downhole depth), including 4.75 g/t Au over 1.20 m
  • UG16-26-069: Intersected 3.51 g/t Au over 2.40 m (at 360.00 m downhole depth), including 5.94 g/t Au over 1.00 m

• Drilling on the 007 vein system intersected the following highlighted results:
  • UG16-26-060: Intersected 21.20 g/t Au over 0.60 m (at 501.80 m downhole depth) and 9.92 g/t Au over 0.60 m (at 504.90 m downhole depth)
  • UG16-26-085: Intersected 7.65 g/t Au over 3.40 m (at 430.80 m downhole depth), including 19.60 g/t Au over 0.60 m
  • UG16-26-069: Intersected 3.51 g/t Au over 2.40 m (at 360.00 m downhole depth), including 5.94 g/t Au over 1.00 m

Shaun Heinrichs, President and CEO, stated, "We are pleased to have completed our current exploration drill program from both surface and underground, testing for new resources at True North. The latest high-grade drill results targeting the extensions of the 710-711 and 007 zones, coupled with the results previously released for the L10 Zone, confirm the potential to add new resources for the True North Gold Project, supporting our overall strategy to develop a district-scale project. These results will be incorporated into the updated mineral resource estimate currently underway."

The exploration drill program at True North, which commenced from surface in October 2024 and from underground in early October 2025, targeted new resources as well as expansion of known zones. The now-completed program comprised one hundred and three (103) surface drill holes totalling 28,475 m (including four drill holes that were abandoned before reaching target depth) and forty-six (46) underground drill holes totalling 17,346 m, targeting the new discoveries and resource expansion target areas.

The Company has commenced work on an updated resource estimate for True North which includes results from exploration drilling as well as the infill and delineation drill program, currently scheduled for completion in the fourth quarter of 2026 ("Q4/2026").

Table 1: Select Significant Drill Results – True North Underground Resource Expansion Drill Program (710-711 and 007 Zones)

Vein/Zone (name)	Drill Hole (Number)	From (m)	To (m)	Interval (m)	Gold Grade (g/t Au)
V710	UG16-26-054	312.60	313.30	0.70	6.58
V710	UG16-26-054	319.80	320.50	0.70	3.49
V770	UG16-26-054	325.00	327.50	2.50	6.84
V770	Including	325.00	325.50	0.50	16.60
V710	UG16-26-056	No Significant Values (NSV)
V710	UG16-26-057	No Significant Values (NSV)
V710	UG16-26-060	197.80	198.90	1.10	32.40
007 V700	UG16-26-060	492.00	495.20	3.20	2.55
007 V700	Including	494.50	495.20	0.70	5.13
007 V730	UG16-26-060	501.80	502.40	0.60	21.20
007 V730	UG16-26-060	504.90	505.50	0.60	9.92
V710	UG16-26-069	188.00	189.20	1.20	4.02
V751	UG16-26-069	205.50	207.00	1.50	2.26
007 - V700	UG16-26-069	333.40	334.50	1.10	4.88
007 V700 Branch	UG16-26-069	342.70	343.40	0.70	2.42
007 V730	UG16-26-069	360.00	362.40	2.40	3.51
007 V730	Including	361.40	362.40	1.00	5.94
V710	UG16-26-071	275.90	279.50	3.60	3.42
V710	Including	277.70	278.90	1.20	4.75
V770	UG16-26-071	295.00	295.70	0.70	3.68
V770	UG16-26-071	298.30	298.90	0.60	3.51
V770	UG16-26-071	300.70	301.80	1.10	2.60
V750	UG16-26-071	308.00	308.60	0.60	3.46
V710	UG16-26-075	269.50	270.40	0.90	2.30
V770	UG16-26-075	282.30	285.70	3.40	2.25
V770	Including	285.00	285.70	0.70	5.41
V710	UG16-26-078	248.30	248.80	0.50	2.62
V751	UG16-26-078	251.20	251.90	0.70	4.61
V770	UG16-26-078	254.00	255.00	1.00	5.92
V711	UG16-26-079	245.90	247.40	1.50	7.43
V711	Including	245.90	246.90	1.00	7.70
V710/V770	UG16-26-079	277.00	282.00	5.00	7.55
V710/V770	Including	277.00	278.20	1.20	16.65
V710/V770	Including	277.70	278.20	0.50	32.90
V710/V770	And	281.00	281.50	0.50	25.80
V730	UG16-26-085	430.80	434.20	3.40	7.65
V730	Including	430.80	431.40	0.60	19.60
V730	UG16-26-085	439.50	440.30	0.80	5.43
V732	UG16-26-085	459.40	460.20	0.80	2.95
V731	UG16-26-085	487.80	489.00	1.20	2.94

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 at downhole depths (m)
5)	Drill hole information included in Table 2

The 710-711 Zone is hosted on the intersection of the Lower Basalt unit and the regional east-west steeply north-dipping L10 Shear Zone. The 007 Zone is hosted on the intersection of the Shoreline Basalt and the 007 Shear Zone, with both zones hosting gold-bearing mineralization associated with veins developed as northwest-trending extensional stockwork and breccia veins and east-west steeply north-dipping shear veins. Veining consists predominantly of quartz with accessory ankerite and albite, with sericite-pyrite and chlorite occurring as veinlets and pervasive alteration halos. Gold occurs with minor pyrite and as free native gold.

The 007 Shear Zone hosts a series of mineralized veins, which are the primary targets of the current resource expansion program at 007 and 710-711 zones. The 007 Shear Zone also hosts the new Shore target, recently the focus of surface and underground exploration drilling and hosted within the San Antonio Gabbro unit located approximately 500 m to the west. The L10 Shear hosts the new SAM SE Target hosted within the San Antonio Gabbro, approximately 500 m to the west of 710-711.

Given the proximity of the lower extent of the 007 Zone to the 710-711 Zone, drilling on both targets was conducted from Level 16 underground.

710-711 Zone Resource Expansion Drilling: Discussion of Results

Five (5) drill holes (UG16-26-054, 071, 075, 078 and 079) tested extensions of gold mineralization above the 710-711 Zone resource limit, all successfully intercepting gold-mineralized quartz-carbonate veins up-plunge. Two (2) additional drill holes (UG16-26-056 and 57) tested extensions of gold mineralization to the east and returned no significant results.

007 Zone Resource Expansion Drilling: Discussion of Results

Three (3) drill holes (UG16-26-060, 069, and 0085) tested extensions of gold mineralization below the 007 Zone resource limit, all successfully intercepting gold-mineralized quartz-carbonate veins down-plunge.

The latest results have confirmed the potential to define additional gold mineralization in multiple veins outside the 2024 MRE boundary. Gold mineralization was extended by 60 m from the upper resource limit of the 710-711 Zone and over a strike length of 115 m. Gold mineralization was extended by 120 m below the 007 Zone and over a strike length of 150 m, highlighting the potential to further increase and extend mineralization with additional drilling.

Next Steps

1911 Gold has now commenced a mineral resource update for True North expected in Q4/2026, which will include the three discoveries, San Antonio West, San Antonio Southeast, and Shore, as well as the extensions of current resources from the L10, 710-711, 007 and Hinge zones.

Exploration drilling from surface and underground will recommence once results from the recently completed program have been assessed and reviewed, supported by positive results highlighting key areas for follow-up.

The Company's ongoing infill and delineation drill program on areas contemplated for test mining and the early years of the Preliminary Economic Assessment mine schedule is being conducted from underground with three (3) drill rigs: two (2) on Level 16 and one 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)
UG16-26-054	5,656,001	313,672	-456	204	-73	353.2
UG16-26-056	5,656,003	313,675	-456	80	-40	441.0
UG16-26-057	5,656,003	313,675	-456	86	-55	387.0
UG16-26-060	5,656,001	313,675	-456	136	-29	576.4
UG16-26-069	5,656,001	313,675	-456	143	-34	519.0
UG16-26-071	5,656,001	313,671	-456	195	-64	585.0
UG16-26-075	5,656,000	313,672	-456	177	-67	540.0
UG16-26-078	5,656,000	313,673	-456	160	-64	342.0
UG16-26-079	5,656,000	313,673	-456	163	-72	330.0
UG16-26-085	5,656,001	313,675	-456	133	-41	489.0

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 2 mm 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 reanalyzed 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 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, readily expandable infrastructure to support a socially and environmentally responsible, long-term mining operation with low development risk and a growing mineral resource base.

1911 Gold's True North complex and exploration land package are located in an area of importance to Indigenous Nations, communities, and rights-holders. 1911 Gold looks forward to maintaining open, cooperative, respectful, and meaningful communication while also engaging with other stakeholders, to foster mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

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 mineral 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were 1911 Gold's latest True North drilling highlights?

Hole UG16-26-079 returned 7.55 g/t gold over 5.00 m, including 32.90 g/t over 0.50 m, in the 710-711 vein system. At 007, UG16-26-060 returned 21.20 g/t over 0.60 m, and UG16-26-085 returned 7.65 g/t over 3.40 m.

When is 1911 Gold's updated True North resource estimate expected?

The company expects the updated True North mineral resource estimate in Q4/2026. It will include San Antonio West, San Antonio Southeast and Shore discoveries, plus resource extensions from the L10, 710-711, 007 and Hinge zones.

Do 1911 Gold's True North drilling intervals represent true mineralized widths?

The reported intervals are drill core lengths, considered to represent 60% to 90% of true widths. Reported intercepts use a cut-off grade of 2.25 g/t gold, allow a maximum of 2.50 m of internal dilution and apply no top capping, meaning high assay values are not capped.