Pinnacle Closes Oversubscribed Non-Brokered Private Placement

• Drilling confirms the down-dip extensions of the near-surface quartz vein hosted gold (“Au”) mineralization on the new San Antonio Southeast (SAM SE) target, including:
  • TN-25-033: Intersected 5.52 grams per tonne (g/t) Au over 6.50 m at a downhole depth of 111.10 m , including 7.78 g/t Au over 1.70 m , and 34.20 g/t Au over 0.50 m , and 54.00 g/t Au over 0.50m at a downhole depth of 120.50 m
  • TN-25-038: Intersected 8.38 g/t Au over 0.50 m at a downhole depth of 188.00 m , 5.64 g/t Au over 0.70 m at a downhole depth of 193.30 m and 5.15 g/t Au over 3.50 m at a downhole depth of 195.60 m , including 16.80 g/t Au over 0.90 m
  • TN-25-054: Intersected 13.90 g/t Au over 0.50 m at a downhole depth of 373.30 m and 3.68 g/t Au over 0.70 m at a downhole depth of 402.00 m

“These intercepts represent the final holes drilled prior to our seasonal break in May, which was extended due to wildfire-related access restrictions in the region,” stated Shaun Heinrichs , President and CEO. “These results have further extended the vein system parallel to the San Antonio Mine vein system to over 550 metres depth. With the resumption of drilling in early July, we are excited to see the continued expansion of this zone at depth, in advance of commencing our underground drill program in September. With the recent completion of our successful financing, we are finalizing preparations in the underground mine to support a significant underground drill campaign, targeting our two new surface discoveries and new underground targets designed to extend our current resource.”

1911 Gold has now completed sixty-two (62) surface drill holes (two did not reach target depths), for a total of 14,974.40 m of drilling. The current exploration drill program, within the True North Mine footprint, commenced in October 2024 and focused on new targets comprised of prospective host rocks and mineralized structural settings, including significant historical drill results. There are now two active drill rigs targeting the SAM SE and San Antonio West (“SAM W”) zones, testing the depth extensions of the mineralization intersected to date. Planning is underway for future underground exploration drilling, which is expected to start at the end of the third quarter.

*San Antonio Mine’s main underground drifts and shafts projected up to 1km from the north-west

S an Antonio Southeast Target: Discussion of Results
Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 500 m southeast of the historically mined San Antonio zone, covering an area 400 m long and over 550 m to depth. Twenty-seven (27) holes for a total of 6,789.40 m have been drilled on the SAM SE target area. Two drill holes were abandoned without reaching the target depth due to ground conditions.

The exploration drilling on the SAM SE target has confirmed the presence of a vein system parallel to the San Antonio Mine ore body, which shares the same geological, alteration, and mineralization characteristics. The high-grade gold intercepts in the drill holes released to date are also enhancing our confidence to extend the higher-grade gold zones to the east within the intersection of the SAM gabbro and the 007 shear zone corridor, in an area with no historical drilling. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and up to 2% pyrite disseminated and in veinlets developed in association with northeast and northwest trending sub-vertical shear zones.

Drill hole TN-25-033 ( 6.50 m @ 5.52 g/t Au, including 1.70 m @ 7.78 g/t Au and 0.50 m @ 34.20 g/t Au, and 0.50 m @ 54.00 g/t Au) was drilled as a twin hole of TN-25-033A and terminated at 121 m depth after intersecting historical mine workings. The hole confirmed the same high-grade gold zone intercepted by the previously released TN-25-033A drill hole ( 6.00 m @ 5.34 g/t Au, including 1.20 m @ 8.58 g/t Au and 1.10 m @ 8.58  g/t Au) ¹ .

Drill hole TN-25-038, ( 0.50 m @ 8.38 g/t Au and 3.50 m @ 5.15 g/t Au, including 0.90 m @ 16.80 g/t Au), tested the extensions 80 m to the east of drill hole TN-25-030 ( 3.70 m @ 3.27 g/t Au, including 0.80 m @ 8.78 g/t Au) ¹ and 100 m down dip of drill hole TN-25-024 ( 1.00 m @ 4.55 g/t Au and 0.50 m @ 14.50 g/t Au) ² .

Drill hole TN-25-054 confirmed the down plunge extensions (over 500 m ) of gold mineralization from surface, intersecting 0.50 m @13.90 g/t Au and 0.70 m @ 3.68 g/t Au, and extended the gold mineralization from drill hole TN-25-014 ( 0.69 m @ 13.40 g/t Au) ² , approximately 100 km to the west.

Note:

Table 1: Significant Drill Hole Assay Results

San Antonio Southeast Target

The San Antonio Southeast target is located approximately 350 m southeast of the historically mined San Antonio zone of the True North Gold Mine. The San Antonio Southeast target occurs within the gabbro of the San Antonio mafic unit and the intersection with the L-10 shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au.

L10 Target

The L-10 target occurs on the intersection of the L-10 shear and the Shoreline basalt and hosts the L-10 resource comprised of 58,000 oz Au from 363,000 tons @ 4.99 g/t Au indicated and 61,000 oz Au from 479,000 tons at 3.96 g/t Au inferred resources. Two (2) drill holes, totaling 570.00 m , were completed on this target to test the up-dip extensions of the resource, with both intercepting well-developed quartz veining assaying up to 0.50 m @ 1.59 g/t Au but not the favourable basalt host unit. Interpretation of the extensions of this resource are ongoing.

SAM Fold Target

The Sam Fold target occurs on the major regional bend of the prolific SAM gabbro unit to the south of the gold resources at True North. (Figure 1). Two (2) drill holes, totaling 628.00 m , were completed on this target, with both intercepting well-developed quartz veining within the SAM gabbro but no mineralized shearing in this location.

Cohiba West Target (former Hinge East)

One (1) drill hole for 182.0 m drilling was completed on the Cohiba West target to test the eastern extensions of the wide quartz vein system with gold mineralization intersected in drill hole TN-24-003 ( 3.45 m @ 2.85 g/t Au at a down hole depth of 44.65 m , including 0.55 m @ 6.20 g/t Au and 0.50 m @ 6.30 g/t Au). ( See press release dated February 4, 2025 “1911 Gold Intersects 8.42 g/t Gold over 0.91 m and 7.23 g/t Gold over 1.05 m in Drilling at True North” ). The hole intersected the targeted Wingold dacitic breccia host unit. The wide zone of quartz veining previously intersected narrows in this area, and no significant assay results are reported. Interpretation is ongoing.

Next Steps

Building on the strong results achieved to date on both the SAM SE and SAM West targets, 1911 Gold recommenced surface drilling in early July to test the depth extensions on both targets while conducting preparations for underground drilling for the next phase of exploration at the True North project. It is anticipated that work will be complete by late August on all priority areas within Level 16 ( 695 m depth  below surface) and necessary supporting levels, allowing for the mobilization of underground drill rigs in early September. Targeting has been completed on multiple high-priority underground areas that can be tested from Level 16, and which show potential for significant resource growth and supporting the mine planning activities currently underway.

Concurrently, the Company is actively evaluating additional targets across the property and advancing permitting for a surface drill program at Ogama-Rockland, which contains a near-surface, high-grade 43-101 mineral resource and is located 35 km by road southeast of the True North complex.

Table 3: True North; Drill Hole Details

Deferred Share Units

The Company has issued 125,000 deferred share units (“DSUs”) to four directors under the LTIP in respect of Q2-2025 director fees. Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera , P.Geo, Vice-President Exploration of 1911 Gold Corporation, who is a “Qualified Person” as defined under NI 43-101.

Quality Assurance/Quality Controls (QA/QC)

Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada .

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .

1911 Gold’s True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation and all local stakeholders to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

For further information, please contact:

Shaun Heinrichs
Chief Executive Officer
(604) 674-1293
sheinrichs@1911gold.com
www.1911gold.com

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, predictions, projections, forecasts, 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, statements about exploration plans and the timing and results thereof, are forward-looking statements. 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.

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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