1911 Gold Issues Clarification of February 2026 PEA Disclosure

1911 Gold Corporation (AUMB) issued a clarification and correction regarding its Preliminary Economic Assessment (PEA) for the True North Gold Project following a review by the British Columbia Securities Commission (BCSC). The company retracted prior statements from a February 10, 2026 news release that were deemed misleading and non-compliant with National Instrument 43-101, specifically regarding the level of economic certainty and the implication that a production decision had been made.

The clarification was issued as a result of the regulatory review, which identified that the prior disclosure violated sections 2.3(3)(a) and 3.4(e) of National Instrument 43-101 Standards of Disclosure for Mineral Project. These violations included characterizations that suggested the PEA results had a higher degree of certainty than permitted or implied that mineral resources had demonstrated economic viability. The company explicitly confirmed that no production determination has been made and that the PEA is preliminary, including inferred resources that cannot be categorized as reserves.

Regarding the technical basis for the assessment, the company advised that the technical report currently filed on SEDAR+ does not comply with NI 43-101. Consequently, the PEA is not supported by a compliant technical report and should not be relied upon until an amended report is verified. The scientific and technical information was reviewed by Michele Della Libera, P.Geo. (VP of Exploration) and Seok Joon Kim, P.Eng. (Chief Engineer).

In response to the findings, the company is concurrently amending its technical report, corporate website, corporate presentations, social media channels, and other investor relations materials to remove non-compliant or misleading information.

"Certain statements in the February Release were misleading and contrary to cautionary language required by sections 2.3(3)(a) and 3.4(e) of National Instrument 43-101 Standards of Disclosure for Mineral Project ('NI 43-101'), as they appeared to suggest that the results of the PEA were more than preliminary in nature with a higher degree of certainty and the mineral resources underlying the PEA have demonstrated economic viability," the company stated.

"The Company confirms that it has not made a production decision."

"The Company further advises that the technical report currently filed on SEDAR+ does not comply with NI 43-101 and as such, the PEA is not supported by a compliant NI 43-101 technical report, and the PEA should not be relied on until it has been verified and supported by an amended technical report."