Mr. Shaun Heinrichs reports

1911 GOLD FILES NI 43-101 TECHNICAL REPORT FOR THE UPDATED MINERAL RESOURCE ESTIMATE FOR THE TRUE NORTH GOLD PROJECT

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.

Highlights:

• Filing of technical report entitled "NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada," prepared by Lions Gate Geological Consulting Inc. (LGGC) and 1911 Gold, dated Dec. 23, 2024, with an effective date of Aug. 29, 2024;
• Underground MRE defined for the True North gold project is reported within mineral resource constraining envelopes using a 2.25-gram-per-tonne gold threshold. All blocks within the envelopes are reported and tabulated as:
  • Indicated mineral resource of 3,516,000 tonnes at 4.41 grams per tonne gold containing 499,000 ounces gold;
  • Inferred mineral resource of 5.49 million tonnes at 3.65 grams per tonne gold containing 644,000 grams per tonne gold;
• The MRE highlights areas for resource expansion both downplunge and along strike to the modelled veins and within areas of historic drilling for potential resource expansion with additional drilling;
• Surface drill program (6,000 metres) under way on new target areas that include:
  • Gold mineralization intersected in historic drill holes along strike from the resource and within 400 metres of surface;
  • New targets identified during the reinterpretation and remodelling of gold mineralization that are proximal to gold-bearing shear zones within favourable host rocks;
• Planning for 25,000 metres of resource expansion and new target drilling is under way for 2025.

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.

The updated True North MRE technical report was prepared by Susan Lomas, PGeo, of LGGC, Dr. Bruce Davis, PhD, FAusIMM, and Michele Della Libera, PGeo, each of whom is considered a qualified person as defined in NI 43-101.

1911 Gold's press release dated Nov. 20, 2024, summarized the mineral resource estimate update in detail.

Future plans

First-phase surface drilling is currently under way on near-surface areas outside of the resource, where the new geological model has identified prospective new targets with significant mineralized intercepts from historical drilling. Initially three prioritized target areas have been identified and are the target of the current drill program (see company's press release dated Oct. 3, 2024). Drilling is continuing and results are due to be released in early 2025.

With the completion of the MRE, 1911 Gold has also identified areas of the resource model that are open and, with additional drilling, have the potential to expand the resources, in addition to new targets at depth in the deposit. The company is currently compiling a drill plan of over 25,000 metres of drilling for 2025 and has commenced work on a preliminary redevelopment plan, working closely with Eric Vinet, recently engaged as a key technical adviser, focusing on identifying suitable mining methods, expected costs and overall economics supporting the restart strategy, to be covered in a new preliminary economic assessment study.

Qualified person statement

The scientific and technical information in this news release has been reviewed and approved by Michele Della Libera, PGeo, vice-president exploration of 1911 Gold, who is a qualified person as defined under NI 43-101.

About 1911 Gold Corp.

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totalling 63,276 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, Man., where it is reprocessing historic tailings on a seasonal basis. 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, Man., and the Denton-Keefer project near Timmins, Ont., and intends to focus on both organic growth opportunities 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 to 1876). 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.

We seek Safe Harbor.