Name of the Project
True North Complex underground project.

Location
Bissett area, Manitoba, Canada, within the Rice Lake greenstone belt.

Project Owner/s
Junior gold producer and developer 1911 Gold Corporation (100% owner).

Project Description
The planned underground gold restart project will leverage existing, fully built and permitted infrastructure, including shafts, underground workings, a processing plant and a tailings management facility.

The preliminary economic assessment (PEA) outlines an 11-year life-of-mine (LoM) from restart, with average mining rates of about 1 215 t/d and average gold production of about 58 114 oz/y between 2029 and 2034. This is supported by projected average LoM mill head grade of 4.32 g/t gold and metallurgical recovery of 93.5%.

Total LoM recovered gold is estimated at 527 400 oz. The study positions the project as a staged restart, with test mining ahead of commercial ramp-up; upside from nearby zones is not yet included in the base-case mine plan.

Potential Job Creation
The PEA indicates that the current mineral-resource-based plan is expected to support about 326 full-time jobs over the LoM.

Net Present Value/Internal Rate of Return
At a long-term gold price assumption of $3 000/oz, the PEA reports a pretax net present value, at a 5% discount rate, of about C$526.7-million and an internal rate of return of 118%, with payback of about 2.2 years.

Capital Expenditure
Initial capital expenditure is estimated at C$59.2-million using the currently built and permitted payable infrastructure. Additional ramp-up capital of about C$46.7-million is estimated during the first two years and LoM sustaining capital of about C$367.2-million.

Planned Start/End Date
1911 Gold has scheduled test mining for the second half of 2026, followed by planned start of production in the first half of 2027.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
The PEA was prepared by AMC Mining Consultants (Canada), with the mineral resource estimate input completed by LGGC. Qualified persons disclosed for the study include AMC’s Paul Salmenmaki and Robert Chesher, and LGGC’s Susan Lomas.

Contact Details for Project Information
1911 Gold Corporation, tel +1 604 900 5620 or email ir@1911gold.com.