VANCOUVER, BC, March 27, 2026 /CNW/ - 1911 Gold Corporation ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF) (FRA: 2KY) is pleased to announce that, further to the press release dated February 10, 2026, it has filed a Preliminary Economic Assessment ("PEA") Technical Report for the 100%-wholly owned True North Gold Project ("True North", which includes the mine and mill complex), located in southeastern Manitoba, Canada.
The technical report was prepared by AMC Mining Consultants (Canada) Ltd., in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, and the "Qualified Persons", as referenced in the technical report, have the ability and authority to verify the authenticity and validity of this data and are independent from the Company.
The technical report titled "1911 Gold True North PEA", dated March 27, 2026, with an effective date of February 10, 2026, has been filed on SEDAR+ at www.sedarplus.ca, and is also available on the Company's website at www.1911Gold.com.
True North PEA
The PEA outlines a robust gold mining operation utilizing the fully built and permitted infrastructure, including shafts, underground workings, and the processing and tailings management facility. 1911 Gold has estimated the infrastructure replacement value as being in excess of $400 million, providing a low capital requirement and a high profitability index of 6.6. The plan outlines an economic base-case production restart strategy (at a gold price of US$3,000 per ounce) outlining initial steady-state production of 58,114 ounces per annum with a mine life of 11 years.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed and approved by Michele Della Libera, P.Geo., Vice President of Exploration, and Seok Joon Kim, P.Eng., Chief Engineer of 1911 Gold, who are Qualified Persons within the meaning of 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 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
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 all statements that address expectations or projections about the future, including, but not limited to, statements about the PEA including the results of the PEA as outlined in the technical report, including without limitation, project economics and financial and operational parameters (throughput, production, processing, cash costs, AISC, other costs, capital expenditures, revenue, free cash flow, NPV, IRR, payback period, and LOM), the mine design, the completion and timing of future development studies; estimates of metallurgical recovery rates and anticipated advancement of True North and the timing thereof, the price of gold assumptions and estimates, requirements for additional capital, discussion and details around upside potential and future exploration prospects, the estimation of mineral resources and the realization of mineral resource estimates, future technical studies for True North and various exploration targets, and the timing and results thereof.
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
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