During 2025, the Company successfully transitioned into an advanced-stage developer with near-term production potential. This transformation was driven by exploration success within the mine lease footprint as well as the re-entry into the underground mine, followed by the commencement of underground development and 1911 Gold's first underground drill program. To support this growth, the Company strengthened its leadership team and site personnel and intensified its capital market presence to expand visibility and reach new investors. These steps allowed the Company to secure the capital required to undertake an aggressive 2026 exploration and development plan and realized an annual share price increase of 468%.
"Over the last year we have continued to intensify our focus on our goal of returning to production in 2027. 2025 was a pivotal year on this path as we returned to the underground mine, confident with the team we had built and the results our exploration team achieved on surface," stated Shaun Heinrichs, President and CEO. "Our biggest challenge to date has been to prioritize our efforts given the multiple opportunities we see ahead of us. The PEA we plan to release for True North in the coming weeks, which provides detailed information on our mine plan, the project economics, and future opportunities, will also be instrumental in prioritizing our drill program over the coming year.
As we move into 2026, we aim to build on this framework by advancing toward a Pre-Feasibility Study and an updated global resource estimate incorporating our 2024 - 2026 drill results. On behalf of the board of directors, I wish to thank all of our stakeholders, including employees, suppliers and contractors, our local communities and the Province of Manitoba, as well as our supportive shareholders and strategic partners. The 1911 Gold story is only just beginning, and supported by buoyant gold prices, 2026 is poised to deliver continued value growth."
2025 Key Milestones:
Corporate Highlights
- Realized a share price increase of 468%, ending the year with a market capitalization of C$270 million ("M")
- The Company raised a total of C$36.2M (see press releases dated July 17, 2025 and December 4, 2025) over two financings with strong institutional support to fund the exploration and development plans in 2025 and 2026
- The Manitoba Mineral Development Fund (MMDF) approved two grants in 2025, for C$286,000 (April 9, 2025) and for $300,000 (November 14, 2025), to support the ongoing surface and underground drill programs at True North
- 1911 Gold's common shares graduated to the OTCQX Best Market in the United States, which requires meeting stringent financial and corporate governance standards, providing further confidence and visibility to U.S. institutional and retail investors (December 16, 2025)
Team
- Strengthened the senior management team with the appointment of Éric Vinet as Chief Operating Officer, to spearhead the Company's development and operational restart strategy, along with several key technical and site personnel (April 9, and October 28, 2025), and the engagement of Suzette Ramcharan of WIN Expertise Inc., providing investor relations and corporate communications services (August 15, 2025)
Exploration
- Filed a NI 43-101 Technical Report for the updated Mineral Resource Estimate ("MRE") at True North outlining indicated resources of 499,000 ounces ("oz"), 3, 516, 000 tonnes at 4.41 grams per tonne gold ("g/t", "Au"), and inferred resources of 644,000 oz, 5,490,000 tonnes at 3.65 g/t Au (January 2, 2025). This resource will be the foundation of the upcoming Preliminary Economic Assessment report ("PEA").
- Completed 20,342 metres ("m") of surface exploration drilling in 71 holes targeting three (3) newly identified and prospective areas where mineralized shear zones intersect with favourable host rocks:
San Antonio West ("SAM W") covers the western extension of the historically mined San Antonio zone of the True North mine mineralized vein system, located at the intersection of the Cartwright South shear zone and the San Antonio mafic ("SAM") gabbro unit. Drilling to date has confirmed quartz vein-hosted gold mineralization to a depth of 630 m. Highlighted drill intercepts include:
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- TN-24-006 intersected 3.70 g/t Au over 4.84 m, including 7.23 g/t Au over 1.05 m (125 m depth) (February 4, 2025);
- TN-25-037 intersected 62.40 g/t Au over 1.00 m (65 m depth) and 4.17 g/t Au over 4.50 m (129 m depth) (April 30, 2025);
- TN-25-057 intersected 58.66 g/t Au over 1.40 m (145 m depth), including 63.20 g/t Au over 0.90 m, and TN-25-056 intersected 9.59 g/t Au over 2.30 m (103 m depth), including 11.25 g/t Au over 1.80 m (June 10, 2025);
- TN-25-061 intersected 8.75 g/t Au over 2.60 m (294 m depth), including 18.00 g/t Au over 1.00 m (November 11, 2025); and
- TN-25-064 intersected 25.84 g/t Au over 2.60 m (490 m depth), including 46.00 g/t Au over 1.00 m, and TN-25-067 intersected 4.04 g/t Au over 5.80 m (at 468m depth), including 23.90 g/t Au over 0.50 m (November 11, 2025)
San Antonio SE ("SAM SE") is the southeastern extension of the known gold mineralization within the San Antonio vein system, located at the intersection of the L10 shear zone and the SAM gabbro unit. Drilling to date confirmed the down-dip extensions of quartz vein-hosted gold mineralization by 745 m. Highlighted drill intercepts include:
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- TN-25-021 intersected 6.46 g/t Au over 2.20 m (60 m depth), including 21.80 g/t Au over 0.50 m (February 26, 2025);
- TN-25-034 intersected 7.13 g/t Au over 2.10 m (99 m depth), including 12.80 g/t Au over 1.00 m, and 14.97 g/t Au over 2.70 m (145 m depth), and TN-25-033A intersected 5.34 g/t Au over 6.00 m (122 m depth), including 7.32 g/t Au over 1.20 m (April 1, 2025);
- TN-25-033 intersected 5.52 g/t Au over 6.50 m (111 m depth), including 7.78 g/t Au over 1.70 m, and 54.00 g/t Au over 0.50 m (121 m depth) (August 7, 2025); and
- TN-25-065 intersected 12.69 g/t Au over 2.40 m (472 m depth), including 15.20 g/t Au over 0.70 m (October 7, 2025)
Shore Target is a newly identified target and is hosted with the SAM gabbro unit at the intersection of the 007 shear zone, approximately 500 m southeast of the L10 shear (where SAM SE is situated). Drilling highlights include:
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- TN-25-019 intersected 13.20 g/t Au over 0.50 m (at 253 m depth), and TN-25-070 intersected 33.80 g/t Au over 0.80 m (at 503 m depth) (October 7, 2025)
- Commenced a 2,200-m surface drill program at Ogama-Rockland (one of the most advanced and immediately accretive regional deposits), a past producer with an NI 43-101 compliant mineral resource located 27km southeast of True North. Metallurgical test work will be conducted, and an updated underground MRE is anticipated following completion of the drill program. (December 17, 2025)
Operations
- Re-commissioned the True North mine hoist system in the A Shaft (the main shaft for the mine) and completed all necessary electrical and mechanical work down to Level 16. This level is one of the key levels in the underground mine, with a fully equipped maintenance bay, refuge stations, and multiple drill bay areas providing positioning for underground drills to target areas for resource expansion and infill, as well as further extending the surface drill results achieved at the SAM SE and Shore targets at depth (April 9, 2025)
- Engaged AMC Consultants (Toronto), to complete a PEA study for True North, to further de-risk and advance the restart of underground mining operations (August 28, 2025)
- Commenced the Company's first underground drill program, focused initially on resource extension and expansion of the L10 and Hinge resource areas, and completed confirmation infill drilling in these areas for possible test mining in 2026, as well as exploration drilling on the SAM SE and Shore targets. (September 25, 2025)
Media Highlights from 2025:
2026 Outlook:
2026 is poised to be another transformative year as 1911 Gold accelerates underground activities in anticipation of a 2027 production restart. Following the release of the PEA, the Company will launch an extensive infill and delineation drill program specifically targeting near-term mining blocks. To support this, the drill rig count will be increased, with a continued balance between resource expansion and critical path delineation.
Critical operational steps to be taken in 2026 include:
- Infrastructure and Mill Optimization: Completion of a new 1,500 tonne-per-day crushing circuit and optimizing mill operations to rectify historical bottlenecks and enhance recovery performance over previous operations.
- Mine Readiness: Completing dewatering of the loading pocket area at the bottom of the A Shaft, to allow for development on Level 26 (1,145-m depth), including rehabilitating the ore pass from Level 16 (695-m depth), completion of drill bay areas to increase access to deeper zones, and to commence development of the 710 zone as well as inspect D Shaft and begin preparations for accessing the lower levels.
- Strategic Workforce Expansion: Leveraging a highly experienced site leadership team that continues to attract top-tier technical talent to grow our workforce, while fostering a culture rooted in safety, responsibility, and operational excellence.
- District-Scale Exploration: Maintaining a robust surface exploration program to test high-priority near mine and regional targets, ensuring a continuous pipeline of growth beyond the immediate restart areas.
2026 Milestones & Catalysts:
The Company is pleased to provide a summary of milestones and catalysts for 2026. As the operational developments progress and 1911 Gold continues to de-risk the potential mining operation and restart strategy, the valuation should start to reflect that of a near-term, fully permitted production story.
Note: Timeline is for guidance purposes only and is subject to change
Grant of Deferred Share Units
The Company has issued 125,000 deferred share units ("DSUs") to four directors under the Company's Long-Term Incentive Plan in respect of director fees incurred in the fourth quarter of 2025. Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.
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, who is a "Qualified Person" as defined under NI 43-101.
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 story with significant exploration upside. The strategy is to build a district-scale gold mining operation around a centralized, and readily expandable infrastructure 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, predictions, projections, forecasts, 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, statements about exploration plans, including the size of the program, completion of an updated NI 43-101 mineral resource estimate for Ogama-Rockland and a global mineral resource update, and the timing and results thereof, underground activities, commissioning of the mill and processing test mining material, generation of cash flows from gold sales and the timing around each of these items, and an updated PFS and the timing and results thereof, 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.
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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