1911 Gold to complete PEA for True North in Q1 2026

Executive Summary

• 1911 Gold has engaged AMC Consultants to conduct a PEA for the True North gold project, targeting a restart of underground mining using its existing 1,300‑t/d processing plant.
• The company plans to deliver the PEA by Q1 2026 and use it, together with fall delineation drilling, to schedule a trial production run in mid‑2026 lasting three to five months.
• Underground rehabilitation is nearing completion on Level 16; a 30,000 m drill program will commence later this year to expand resources and support the upcoming trial mining campaign.

Key Details

• PEA Scope: AMC Consultants will evaluate restart scenarios for underground mining, assess development and mining methods based on current mineral resource estimates and existing underground infrastructure, but will not incorporate results from recent/planned drilling.
• Timeline: PEA results expected Q1 2026; trial production run planned for mid‑2026 (3–5 months).
• Processing Facility: Utilizes the permitted 1,300‑tonne‑per‑day plant at Bissett, Manitoba.
• Underground Rehabilitation: Level 16 and supporting levels are near completion; Hancon Mining mobilized crews in August for critical upgrades, with drilling rigs arriving late September.
• Drilling Program: Approximately 30,000 m of drilling slated over the next several quarters, comprising:
• Exploration drilling to expand San Antonio West & Southeast zones adjacent to historic San Antonio zone.
• Delineation drilling on bulk‑sample target zones for early trial mining.
• Resource expansion drilling to test extensions for near‑term production post‑PEA.
• Future Plans: Results from the PEA and fall delineation drilling will inform final plans for the trial production campaign and broader redevelopment strategy.

Notable Quotes

“Initiating a PEA with AMC is a critical milestone as we advance the True North mine toward a restart,” said Shaun Heinrichs, President and CEO of 1911 Gold.
“We intend to use the results of the PEA, together with delineation drilling … to finalize plans for a trial production run in mid‑2026.”