Mr. Shaun Heinrichs reports

1911 GOLD INTERSECTS UP TO 21.80 G/T GOLD OVER 0.50 M WITHIN 6.46 G/T AU OVER 2.20 M IN DRILLING AT TRUE NORTH

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.

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.

San Antonio Southeast target:

• Drill results confirmed the southeastern extension of gold mineralization hosted within the prolific San Antonio mafic unit to depths of over 400 m and along a strike length of over 300 m, including:
  • Drill hole TN-25-011 intersected 8.37 grams per tonne (g/t) Au over 0.84 m at a downhole depth of 277.74 m.
  • Drill hole TN-25-014 intersected 13.40 g/t Au over 0.69 m at a downhole depth of 361.71 m.
  • Drill hole TN-25-021 intersected 14.00 g/t over 0.50 m at a downhole depth of 33.10 m and 6.46 g/t Au over 2.20 m at a downhole depth of 60.10 m, including 21.80 g/t Au over 0.50 m.
  • Drill hole TN-25-023 intersected 9.37 g/t Au over 0.50 m at a downhole depth of 37.00 m.
  • Drill hole TN-25-024 intersected 4.55 g/t Au over 1.00 m at a downhole depth of 73.00 m and 14.50 g/t Au over 0.50 m at a downhole depth of 106.60 m.

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."

San Antonio Southeast target: discussion of results

The San Antonio Southeast target covers an area southeast of the historically mined San Antonio zone of the True North gold mine. The San Antonio Southeast target occurs within the gabbro of the SAM unit at the intersection with the L-10 shear zone. The same geological setting hosts the 710-711 vein system, which contains a mineral resource inventory of 198,000 ounces (oz) Au at 5.21 g/t Au indicated and 118,000 oz Au at 3.91 g/t Au (see news release dated Nov. 20, 2024, "1911 Gold Announces Mineral Resource Estimate Update for the True North Gold Project"), located on the 26 level of the True North underground mine at a depth approximately 1,000 m below the current drill target area. The L-10 shear zone also hosts a gold mineralized vein system within the parallel shoreline basalt unit containing 58,000 oz Au at 4.99 g/t Au indicated and 61,000 oz at 3.96 g/t Au inferred resources.

Drilling completed to date has confirmed the extension of gold mineralization to over 350 m east of the San Antonio zone, covering an area 300 m long and over 400 m to depth. Thirteen holes for a total of 3,222.40 m have been sampled and analyzed to date within this target area, with one hole, TN-24-012, being abandoned at 45.40 m without reaching the target zones, and one hole TN-25-026 being drilled to the south and behind the target that did not test the updip extensions of mineralization. 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.

Mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, and chlorite alteration and up to 2 per cent pyrite disseminated and in veinlets. They are interpreted to be related to a similar structural setting as the San Antonio zone vein system, which occurs at the intersection of the SAM gabbro unit and the L-13 shear zone. Historical drill testing of the SAM SE target resulted in drill assays of up to 2.16 m at 12.90 g/t Au (AB-07-003), 3.20 m at 6.25 g/t Au (AB-06-005) and 3.63 m at 4.01 g/t Au (AB-06-006) (see news release dated Oct. 3, 2024, "1911 Gold Initiates Surface Drill Program on New Exploration Targets at the True North Gold Project"). The current drill program is designed to test the continuity and extensions of the historically drilled zones. Drill results have confirmed the extension of the quartz vein-hosted gold mineralized system along strike to the east and downplunge, defining the potential to extend it even farther at depth and to the east.

Next steps

The exploration drilling results completed to date within the True North gold mine complex have successfully defined several new areas of gold mineralization and confirmed the near-surface extensions of gold mineralization for the San Antonio West, Hinge East and San Antonio Southeast target areas. Based on the results received to date and the additional new exploration targets that have been developed, 1911 Gold has expanded the current drill program and is now planning over 25,000 m of drilling in 2025. A second rig has been mobilized, and the drill program will continue to test the open extensions at San Antonio West and San Antonio Southeast targets, and the Hinge East target, as well as other new targets.

Update on underground access

During February, significant progress has been made in recommissioning the A shaft on the True North underground mine, including lowering the skip to the 16 level (the target level for underground drilling) with no interruptions. Once the company can safely lower a crew to the 16 level over the coming weeks, a further inspection will be completed to identify the work required and provide an updated timeline for the exploration team to gain access for underground drilling.

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, Ont., for sample preparation and analysis. Samples are dried and crushed to two millimetres, and a one-kilogram (kg) split is pulverized to minus 200 mesh. Gold analysis is completed by fire assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values greater or equal to 5.00 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, depending on the amount of sample material remaining available. 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 gold analyses for 5 per cent of all submitted sample pulps conducted at a third party certified laboratory.

Qualified person statement

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

About 1911 Gold Corp.

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 in Bissett, Man. 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, Man., and the Denton-Keefer project near Timmins, Ont., 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 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.