1911 Gold advances True North project toward near-term gold production

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 ~62,000Ha land package with numerous past-producing operations within trucking distance of the fully built and permitted True North complex. 1911 Gold offers a unique, near-term production story with significant exploration upside. The strategy is to build a district-scale gold mining operation around 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 Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) said assay results from its latest exploration program at the True North Gold Project in Manitoba confirmed high-grade gold mineralization over a 720-metre strike length and to depths of nearly 975 metres.

The results come from 30 drill holes totaling 8,656 metres testing the San Antonio Southeast (SAM SE) and Shore targets.

Highlighted intercepts included hole TN-26-094 at SAM SE, which returned 15.89 grams per tonne gold over 2.7 metres, including 40.1 g/t over 1 metre, and hole TN-26-088 at Shore, which intersected 5.99 g/t gold over 4.9 metres, including 24.9 g/t over 0.7 metres.

Drilling also identified a newly defined mineralized zone called Baker. Hole TN-26-076 intersected 36.44 g/t gold over 1.1 metres, including 73.70 g/t over 0.5 metres.

1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) has closed its previously announced bought deal financing, raising gross proceeds of C$35.65 million, including the full exercise of the underwriters' over-allotment option.

The financing consisted of 7.81 million units priced at C$0.64 each, 27.31 million Canadian development expenses flow-through units priced at C$0.793 each, and 11.96 million Canadian exploration expenses flow-through units priced at C$0.752 each.

1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) said that it has increased the size of its previously announced bought-deal financing to gross proceeds of approximately $31 million, reflecting continued investor demand as the company advances its True North gold project in Manitoba.

Under the amended agreement, a syndicate of underwriters led by Haywood Securities, and including BMO Capital Markets (NYSE:BMO), Roth Canada and Velocity Trade Capital, agreed to purchase a combination of common share units and flow-through units for total gross proceeds of $31 million.