VANCOUVER, BC, Nov. 2, 2026 /PRNewswire/ -- 1911 Gold Corporation ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF) (FRA: 2KY) is pleased to report assay results from the ongoing underground infill and delineation drill program (the "Infill 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 Company's ongoing Infill Drill Program is focused on the mineral resources scheduled for mining in the early years of production, as outlined in the mine plan of the current True North Preliminary Economic Assessment ("PEA") (refer to the NI 43-101 technical report dated July 16, 2026, titled "1911 Gold True North PEA (Amended and Restated)". Thirty (30) diamond drill holes totaling 6,483 metres ("m") were drilled from Level 16 (720 m below surface), targeting the L10 Zone. 

Highlights:

• Drilling targeted the V-1020 and V-1010 vein structures associated with the L10 Zone, and intercepted the modelled veins in all drill holes, with the following highlighted results:
  • UG16-26-102: Intersected 14.86 grams per tonne ("g/t") gold ("Au") over 7.20 m (at 202.40 m downhole depth), including 19.52 g/t Au over 4.60 m, including 31.70 g/t Au over 0.60 m – V-1010
  • UG16-26-099: Intersected 13.84 g/t Au over 1.70 m (at 181.30 m downhole depth), including 35.70 g/t Au over 0.50 m – V-1020
  • UG16-26-093: Intersected 13.98 g/t Au over 1.20 m (at 192.80 m downhole depth), including 25.10 g/t Au over 0.60 m – V-1020
  • UG16-26-091: Intersected 18.70 g/t Au over 0.60 m (at 179.80 m downhole depth) – V-1020
• A number of infill drill holes also intersected extensions of the V-1020 Vein outside of the 2024 mineral resource estimate (the "2024 MRE") boundary, with the following highlighted results:
  • UG16-26-095: Intersected 18.10 g/t Au over 0.80 m (at 224.50 m downhole depth) – V-1020
  • UG16-26-098: Intersected 3.69 g/t Au over 2.20 m (at 161.20 m downhole depth), including 6.25 g/t Au over 0.90 m – V-1020
  • UG16-26-106: Intersected 5.56 g/t Au over 0.50 m (at 181.90 m downhole depth) – V-1020
• Infill drill holes designed to intersect the V-1010 Vein also intersected gold mineralization on the down-plunge extensions of the V-1020 and V-1011 veins, located in the hanging wall of the V-1010 Vein, with the following highlighted results:
  • UG16-26-083: Intersected 22.64 g/t Au over 2.10 m (at 124.00 m downhole depth) – V-1020
  • UG16-26-089: Intersected 25.50 g/t Au over 0.70 m (at 115.00 m downhole depth) and 6.09 g/t Au over 0.60 m (at 119.00 m downhole depth) – V-1020
  • UG16-26-105: Intersected 8.70 g/t Au over 1.90 m (at 148.10 m downhole depth), including 22.70 g/t Au over 0.60 m – V-1020
  • UG16-26-107: Intersected 14.30 g/t Au over 0.60 m (at 207.00 m downhole depth) – V-1011
  • UG16-26-108: Intersected 7.79 g/t Au over 0.80 m (at 192.50 m downhole depth) – V-1011
  • UG16-26-111: Intersected 6.04 g/t Au over 2.70 m (at 195.90 m downhole depth), including 9.56 g/t Au over 0.90 m – V-1011

Shaun Heinrichs, President and CEO, stated, "We are pleased with the ongoing positive results from the infill and delineation drill program at True North. This program is providing strong support for a potential mine restart decision in 2027. The infill drilling at L10 continues to derisk our mineral resources in this zone, which is readily accessible from Level 16, where we are currently advancing underground development to access zones for test mining and bulk sampling in 2026 and 2027.

"We expect the results from the L10 infill drilling to support upgrading the resources in preparation for an updated mine plan and delineation drilling. In addition to supporting the planned mineral resource update, the drill program has also intersected mineralization outside the current resource, potentially extending the modelled veins at L10."

The underground Infill Drill Program, which commenced on October 1, 2025, has focused on upgrading and delineating the resources in areas scheduled for the early years of production in the PEA mine plan and on supporting the planning and execution of development currently underway for test mining activities.

The Company has commenced work on an updated global resource estimate, which will include True North exploration drilling (from surface and underground) as well as the Infill Drill Program. The updated estimate is currently scheduled for completion in the fourth quarter of 2026 ("Q4/2026").

Table 1: Select Significant Drill Results – True North Underground Infill Drill Program (L10 Zone)

The L10 Zone is located at 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 northwest-trending extensional stockwork and breccia veins and east-west steeply north-dipping shear veins. Veining is predominantly composed of quartz with accessory ankerite 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 underground infill drilling reported on today was designed to test the continuity of gold mineralization, confirm vein geometry, and assess grade distribution of the V-1020 and V-1010 veins within the L10 Zone, and to upgrade the inferred resources to indicated resources in areas outlined for development and mining in the early years of the PEA mine plan. Drilling was planned on a nominal 30 m drill hole spacing. Results reported are from thirty (30) drill holes totaling 6,483 m, with all drill holes intercepting the modelled veins and all holes returning significant results except hole UG16-26-101. Preliminary overall results are in line with expectations on the V-1020 Vein and lower than expected on the V-1010 Vein.

A number of infill drill holes also intercepted mineralization outside of the currently modelled vein wireframes supporting the 2024 MRE, which are not included in the PEA mine plan.

L10 (V-1020 Vein) Infill Drilling: Discussion of Results:

A total of eleven (11) drill holes for 2,406.0 m of drilling was completed on the V-1020 Vein, with preliminary reviews concluding that the general gold distribution aligns with the expected average grade, with significant results encountered in UG16-26-091, which intersected 18.70 g/t Au over 0.60 m (at 179.80 m downhole depth), UG16-26-093, which intersected 13.98 g/t Au over 1.20 m (at 192.80 m downhole depth), and UG16-26-099, which intersected 13.84 g/t Au over 1.70 m (at 181.30 m downhole depth).

Three (3) of the infill drill holes also intersected gold mineralization outside of the 2024 MRE boundary, potentially extending gold mineralization at depth. Drill hole UG16-26-095 intersected 18.10 g/t Au over 0.80 m (at 224.50 m downhole depth); UG16-26-098 intersected 3.69 g/t Au over 2.20 m (at 161.20 m downhole depth); and UG16-26-106 intersected 5.56 g/t Au over 0.50 m (at 181.90 m downhole depth).

L10 (V-1010 Vein) Infill Drilling: Discussion of Results:

A total of nineteen (19) drill holes for 4,077.0 m of drilling was completed on the V-1010 Vein, with average vein thickness in line with expectations within the modelled veins.

Preliminary overall results are slightly lower than expected, with some pinch-and-swell geometry observed, requiring tighter drill spacing to properly delineate the targeted vein. Wider, higher-grade zones were intersected, including in drill hole UG16-26-102, which returned broad mineralization of 14.86 g/t Au over 7.20 m (at 202.40 m downhole depth), including 19.52 g/t Au over 4.60 m, including 31.70 g/t Au over 0.60 m.

Eleven (11) resource infill drill holes also intersected significant gold mineralization on the down-plunge extension of the V-1020 and V-1011 veins at L10, located in the hanging wall of the V-1010 Vein and outside of the 2024 MRE boundary, potentially extending the resources hosted in these zones to depth.

Drill hole UG16-26-081 intersected 4.84 g/t Au over 1.30 m (at 125.70 m downhole depth), UG16-26-083 intersected 22.64 g/t Au over 2.10 m (at 124.00 m downhole depth), UG16-26-089 intersected 25.50 g/t Au over 0.70 m (at 115.00 m downhole depth), UG16-26-105 intersected 8.70 g/t Au over 1.90 m (at 148.10 m downhole depth), UG16-26-107 intersected 14.30 g/t Au over 0.60 m (at 207.00 m downhole depth), and UG16-26-111 intersected 6.04 g/t Au over 2.70 m (at 195.90 m downhole depth). Mineralization was extended by up to 75 m below the 2024 MRE boundary down-plunge on the V-1020 Vein, and by up to 70 m down-plunge on the V-1011 Vein.

1911 Gold has commenced a mineral resource update for True North expected in Q4/2026, which will include the new discoveries and resource expansion of known zones, along with results from the initial phase of the Infill Drill Program.

Exploration drilling at True North, from surface and underground, will recommence upon review of the recently completed drill program and resource update.

The Company's ongoing Infill Drill Program on areas contemplated for test mining and the early years of the PEA mine plan is being conducted from underground with three (3) drill rigs: two (2) on Level 16 and one (1) from the Hinge decline. 

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

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

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 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 the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE 1911 Gold Corporation