Phase II Drilling And Field Exploration Program At Rice Lake Gold Projects

TORONTO - 1911 Gold Corporation reported results from the Phase II Drilling Program at its 100% owned Rice Lake Gold Projects in Manitoba. During the Phase II program, the Company successfully completed 17,026 meters of drilling in 59 drillholes, testing 14 different targets across five project areas. The program focused on kilometer-scale structures with clear potential to host significant gold systems but no record of historical drilling.

Also, the start of the field exploration program covering multiple project areas spanning more than 70 kilometers along its district-scale land position within the prolific Rice Lake–Red Lake greenstone belt. The field exploration program is designed to advance the Company's key projects in the Rice Lake belt and to continue to define compelling new targets for exploration drilling.

Ron Clayton, President and CEO, said, "Our drilling at Bidou and Tinney has demonstrated the geological features required to develop large scale gold deposits and the consistency with which we have intersected gold mineralization to date demonstrates the potential for discovery. It is very early in our systematic exploration of this large land package in a prolific under-explored greenstone belt. I continue to be encouraged that we are on the path to a significant discovery."

Drilling at the Bidou South target yielded several gold intercepts, with associated alteration and quartz-carbonate veining, extending the known strike length of the targeted structures to more than 1,000 meters. The best intercepts to date, including 6.0 g/t gold over 3.3 meters in drillhole BL-20-005, are localized where the structures cut the central portion of a thick gabbro sill – an analogous setting to the True North deposit at Bissett. Additional drilling at Bidou South will focus on testing these intersections down-plunge to depth, as well as testing several parallel structures that cut the gabbro along strike, which are priority targets with no record of previous drilling.

At Poundmaker, the Company completed three wide-spaced drillholes at the NW target, testing quartz-carbonate vein systems with localized high-grade gold exposed in a series of historical trenches. The drilling confirmed multiple structures controlled by mafic dikes in the host tonalite intrusion. Although this drilling did not yield significant intercepts, the structures are adjacent and parallel to kilometers-long topographic lineaments that have not been drill tested, providing ample scope for additional exploration.

Drilling at Horseshoe Lake targeted a key geological contact at the base of a Temiskaming-like sedimentary basin, in locations where the contact is intersected by a series of structures comparable to the main ore-hosting structures at the True North mine. Three drillholes completed from ice pads on Horseshoe Lake failed to establish the location of the key contact, which is poorly constrained in this area due to the absence of exposure; hence, the principal targets at Horseshoe remain untested and will be re-evaluated in light of the new drilling data.

Going forward, the Company's exploration team continues to analyze and interpret the high-quality data obtained from the Phase II program. This will be used to evaluate the Company's 3D geological models to better constrain local controls on gold mineralization in the context of its exploration model and new drilling results. Priorities for follow up drilling will include infill adjacent to high-grade intercepts from the Phase II program, as well as drilling of structural intersections with potential for high-grade plunging shoots at both Tinney and Bidou.

At the Tinney project, fieldwork will include detailed mapping, outcrop stripping and surficial geochemistry, with emphasis on the Gunnar porphyry intrusion and tracing the gold system southward toward the historic Gunnar mine, located 1.4 kilometers to the south of the Company's southern-most drillhole on this large-scale exploration target.

In the Bidou project area, the focus will be on generating additional drill targets along the numerous kilometer-scale structures identified by the Company using field and geophysical data, and subsequently confirmed by drilling in several locations, notably at Bidou South and Janet. Surficial geochemistry, along with detailed mapping and prospecting, will guide planning for additional exploration drilling at Bidou.