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1911 Gold Drills High-Grade Gold Zones at Tinney

Step-out drilling returns intercepts up to 32.8 g/t gold over 1.1 metres

TORONTO, ON, April 13, 2021 – 1911 Gold Corporation ("1911 Gold" or the "Company") (TSX-V: AUMB) (OTCQX: AUMBF) is pleased to report results from eight additional exploration drillholes within its 100% owned Rice Lake exploration properties in Manitoba, highlighted by multiple intercepts of high-grade gold mineralization at the Tinney project (Figure 1). Step-out drilling on the contiguous Edna-Otter-Cougar targets at Tinney has intersected gold-bearing structures over 550 metres of strike (Figure 2) and to vertical depths greater than 300 metres, and has demonstrated continuity of the principal host unit, the Gunnar porphyry, providing significant scope for further exploration drilling.

Highlights:

  • Drillhole EO-21-014 intersected four zones of gold mineralization over a drillcore length of 120 metres, including 5.6 g/t gold over 1.4 metres, 3.3 g/t gold over 1.8 metres, 32.8 g/t gold over 1.1 metres, and 3.4 g/t gold over 2.2 metres
  • Quartz-sulphide veins containing visible gold within these zones returned localized high-grade values up to 59.8 g/t gold over 0.6 metres
  • Drilling along strike from drillhole EO-21-014 yielded several additional high-grade intercepts, including 7.1 g/t gold over 2.5 metres in drillhole EO-21-016 (includes 19.5 g/t gold over 0.9 metres), 20.2 g/t gold over 0.9 metres in drillhole EO-21-020, and 42 g/t gold over 0.6 metres in drillhole CG-21-004
  • Results are pending from four drillholes completed to test these high-grade zones for possible plunge extensions toward the northwest and northeast along strike

Dr. Scott Anderson, Vice President Exploration, commented: “Drilling to date confirms the Gunnar porphyry as a compelling exploration target, with its continuity now established both along strike and to depth, demonstrating significant scale potential. Initial drilling at Tinney confirmed the presence of favourable structures at relatively shallow (<150 metres) depth both internal and external to the porphyry, and follow-up drilling has now tested these structures to depths up to 400 metres vertical. Importantly, as exemplified by drillhole EO-21-014, this drilling has intersected multiple gold-bearing structures (Figure 3), analogous to the near-surface portion of the True North gold deposit at Bissett. In the coming weeks, we will release the remaining eighteen drillholes from the recently completed winter drilling program and will continue detailed planning to follow-up on these exciting results”.

Tinney Project

The principal exploration targets in the Tinney Project area are arranged along the Gunnar porphyry – a large synvolcanic intrusion that has been traced along strike on surface for 2.4 kilometres and hosts, at its southern extent, the historical high-grade Gunnar deposit (1936–1941; 100,000 ounces produced at 11.9 g/t Au). Drilling to date at Tinney has focused on the northern portion of the porphyry, targeting structures within the porphyry and its host rocks, as well as structural intersections at the contacts of the porphyry.

Previously-reported drillhole EO-21-005, collared 240 metres southwest of EO-21-014, returned intercepts of 8.1 g/t gold over 5.7 metres (includes 29.9 g/t gold over 1.5 metres) from the porphyry and 11.3 g/t gold over 1.6 metres (includes 31.2 g/t gold over 0.5 metres) from its host rocks (refer to news release dated March 24, 2021), demonstrating potential for both to host significant gold mineralization.

Intensely fractured, veined and altered porphyry with anomalous gold values has been intersected over thick, continuous intervals in several drillholes, with localized high-grade gold associated with quartz-sulphide veins in the porphyry and at its contacts (e.g., EO-21-014; Figure 4), indicating that it was a significant conduit for gold-bearing fluids. Numerous targets remain to be tested along this kilometre scale gold system, which has seen no modern systematic exploration and remains open in all directions.

Table 1: Selected gold intercepts from drillholes at the Tinney project.

Project, Hole ID(1) Easting Northing Length Az. Incl. From To Length(2) Gold(3)
Target   (NAD83, UTMZ15N) (m) (deg.) (deg.) (m) (m) (m) (g/t)
Tinney, EO-21-012 340783 5638867 401 220 -70 304.05 305.00 0.95 0.97
Edna-Otter EO-21-013 340680 5638903 326 200 -50 61.50 62.00 0.50 10.10
              117.10 118.80 1.70 0.49
              136.00 137.75 1.75 0.31
              157.05 158.05 1.00 5.69
              192.48 192.78 0.30 10.50
              196.00 196.80 0.80 2.96
              198.50 199.50 1.00 0.60
  EO-21-014 340694 5638952 353 200 -60 208.50 209.90 1.40 5.56
            inc. 208.50 209.00 0.50 15.30
              259.90 261.70 1.80 3.33
            inc. 260.75 261.70 0.95 5.22
              323.50 324.60 1.10 32.79
            inc. 323.50 324.10 0.60 59.80
              328.30 330.50 2.20 3.38
            inc. 329.30 330.00 0.70 10.10
  EO-21-016 340581 5638928 299 200 -62 38.50 39.40 0.90 0.91
              134.00 135.50 1.50 0.52
              143.40 145.90 2.50 7.12
            inc. 143.90 144.75 0.85 19.50
              151.40 154.55 3.15 0.41
              177.65 178.65 1.00 0.81
              185.60 186.60 1.00 3.34
              190.50 193.50 3.00 0.29
              201.00 202.50 1.50 4.71
              217.60 218.60 1.00 2.57
  EO-21-017 340628 5639036 380 200 -56 324.30 327.00 2.70 0.59
  EO-21-019 340473 5638973 266 195 -60 146.90 149.80 2.90 0.67
              164.20 167.80 3.60 0.33
  EO-21-020 340669 5638998 443 195 -67 289.55 292.30 2.75 0.21
              301.70 303.50 1.80 0.96
              337.40 339.30 1.90 1.00
             inc. 338.70 339.30 0.60 2.55
              350.35 351.20 0.85 20.20
Tinney, CG-21-004 340788 5638644 252 265 -58 70.10 74.00 3.90 0.67
Cougar            inc. 72.93 74.00 1.07 1.86
              101.60 103.00 1.40 1.10
              107.43 108.07 0.64 42.00
              210.52 213.77 3.25 0.48

(1) Numbering reflects order in which drillholes were planned, rather than sequence of drilling
(2) Represents drillcore length; true widths are presently unknown
(3) Intervals are weighted averages, cut-off at 0.2 g/t Au and at 0.5 grade x width multiple; NSV, no significant values

QA-QC Protocols

Sample handling, preparation and analysis are monitored through the implementation of formal chain-of-custody procedures and quality assurance-quality control (QA-QC) programs designed to follow industry best practices. Drillcore is logged and sampled in a secure facility located in Bissett, Manitoba. Drillcore samples for gold assay are cut in half using a diamond saw and are submitted to Activation Laboratories Ltd. (Actlabs) in Ancastor, Ontario, for preparation by crushing to 80% passing 2.0 millimetres, riffle splitting to obtain 250-gram aliquots, and pulverizing to 95% passing 106 microns; the pulverizer bowl is cleaned with sand after each sample. Pulps are analyzed by a 30-gram fire assay and AAS finish. For assays above 5 g/t Au, a cut of the original pulp was re-assayed with a gravimetric finish. Samples with visible gold are analyzed by metallic screen assay, with the weighted average of gold for the entire sample reported, based on fire assays of the screen oversize and undersize fractions. In addition to Actlabs’ in-house QA-QC protocols, 1911 Gold inserts certified standards, non-certified blanks and field duplicates into the sample stream at regular intervals, such that QA-QC accounts for 10% of the total samples submitted. Blanks are also inserted after heavily mineralized or visible-gold–bearing samples. Results are routinely evaluated for accuracy, precision and contamination.

Qualified Person Statement

Technical information in this news release has been reviewed and approved by Dr. Scott Anderson, Ph.D., P.Geo., the Company’s Vice President, Exploration, and Qualified Person as defined by Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totalling 55,500 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, where it is reprocessing historic tailings on a seasonal basis. 1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on the True North complex. The Company also owns the Tully and Denton-Keefer projects near Timmins, Ontario, and intends to focus on both organic growth opportunities 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 in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Ron Clayton

President and CEO

For further information, please contact:

Shaun Heinrichs
Chief Financial Officer
(604) 674-1293
sheinrichs@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, prediction, projection, forecast, 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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