Shaun Heinrichs, President and CEO stated, "We are pleased to welcome Max as Chief Financial Officer of 1911 Gold. He brings a strong financial background in the resource sector, along with broad capital markets experience, that will support both our near-term priorities and long-term strategic objectives and joins us at a pivotal stage as we accelerate underground development in advance of planned production next year.
On behalf of the Board of Directors and management, I am delighted to welcome Max to the team. I would also like to sincerely thank Carmen for her leadership and dedication over the past several years, and we appreciate her continued support during this transition."
Max Satel, CFO stated, "I'm excited to join 1911 Gold as the Company advances True North towards a mine restart. This is a compelling opportunity, with existing infrastructure and a permitted operation in a top-tier mining jurisdiction, along with a significant land position that remains largely underexplored. I look forward to working with the Board and management team to execute a disciplined capital strategy that positions 1911 Gold for sustainable production and long-term value creation."
Chief Financial Officer
Max Satel is a strategic mining finance executive with 23 years of experience across natural resources and capital markets. Most recently serving as Chief Financial Officer of Battery Mineral Resources Corp. (TSXV: BMR), Mr. Satel led the company through a complex underground mine restart, securing capital and implementing robust project controls and financial infrastructure during the restart of production. His background also includes executive roles at Arrow Exploration Corp., where he played a critical role in the company's turnaround and subsequent IPO on the AIM. Prior to this, Mr. Satel was an Investment Banker at Research Capital Corp. and Bordeaux Capital Inc. for 15 years, executing complex capital and M&A transactions for natural resources clients, as well as leading due diligence and valuation workstreams.
With a proven track record of successfully financing and scaling resource companies from development through production, Mr. Satel has raised over C$1.2 billion in capital across debt, equity, and strategic financing structures. He is currently completing his Executive MBA at Kellogg-Schulich and has completed executive leadership programs at Stanford Graduate School of Business. He brings deep operational finance expertise, including project cost control, commercial contract negotiation, cross-border tax strategy, and ESG framework development for publicly traded mining companies.
In connection with Mr. Satel's appointment as CFO, he has been granted 750,000 options to purchase common shares of the Company, pursuant to the Company's Long-Term Incentive Plan (the "LTIP"). Such options have an exercise price of $0.96 per common share and expire on April 21, 2031. The options vest as to one-third immediately and one-third after the first and second anniversaries of the date of grant. Mr. Satel has also been granted 150,000 restricted share units ("RSU") under the LTIP, vesting one-third on the first, second, and third anniversaries of the effective date of his appointment.
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 restart operations in 2027 and offers a unique, near-term production opportunity with significant exploration upside. The strategy is to build a district-scale gold mining operation around a central, and readily expandable infrastructure complex 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 our 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 may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
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, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, the Company's current business plans, including the potential mine restart in 2027; and generally, the plans, operations and prospects of the Company, are 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE 1911 Gold Corporation
For further information, please contact: Shaun Heinrichs, Chief Executive Officer, (604) 674-1293, [email protected]
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