1911 Gold Corporation provided an update on the strategic plans for the advancement of the True North Mine, including 43-101 mineral resource estimate update, located within the prolific Rice Lake property in southeastern Manitoba, Canada. Project Update: Resource Model Quality: Completed a detailed review of the current Mineral Resource geological model and confirmed the integrity of the geological interpretation. Drill Hole Data Review: Completed a review of the True North drill hole data, identifying areas where information is required but confirming its integrity and accuracy.

Mineral Resource Estimate: Completed validation of the current Mineral Resource Estimate with results being able to re-produce the tonnes, grades and contained ounces. Near Mine Geology and Structural Controls: Confirmed the presence of major regional structures hosted by mafic lithological units, the primary control for gold mineralization at True North, critical for target generation in the future. Manitoba Mineral Development Fund ("MMDF") Grant: The Company was approved for $180,986 in funding under Manitoba's resource development program administered by the MMDF.

Forward Plans: Resource Model Update and Database Review: Complete the updating of all geological wireframes as well as review and validate the project database by the end of June to support the updated Mineral Resource Estimate. Mineral Resource Estimate Update: Lions Gate Geological Consulting engaged to complete the Mineral Resource Update planned for completion by early August 2024. True North Mineral Resource Extensions: Identify significant target areas for potential extension of the mineral resource inventory for follow up exploration.

New True North Drill Targets: Generate additional targets for gold mineralization adjacent to the True North Mine area within favourable geological settings. Regional Drill Target Review: Following completion of the updated Mineral Resource Estimate, the Company will also focus on defining priority, drill-ready targets within the Company's 63,036-hectare Rice Lake Greenstone Belt. Resource Growth: Focus on exploration for significant resource growth through the remainder of 2024.

Economic Analysis: Commence work on a preliminary mine plan and re-start analysis upon completion of the new Mineral Resource Estimate. Mineral Resource Estimate Update: The current NI 43-101 underground Mineral Resource Estimate for the True North Mine ("Technical Report for the True North Mine, Bissett, Manitoba, Canada" by Practical Mining LLC, dated May 8, 2018) contains 2.01 million tonnes ("Mt") @ 7.41 grams per tonne ("g/t") Gold ("Au") for 433,000 ounces ('oz") of contained Au in the indicated and inferred categories, and 3.59Mt @ 5.79 g/t Au containing 605,000 oz of contained Au in the inferred category, at a cut-off grade of 0.10 oz per ton and using a gold price of US$1,400/oz. Using updated geological wireframes and validated drill database, 1911 Gold plans to update the resource by early August 2024 using an updated gold price and suitable cut-off grade, utilizing updated mining methods.

Database Review: The Mineral Resource update will utilize a validated drill hole database comprised of 7,960 drill holes containing 1,529,232 metres ("m") of drilling and 30,217 underground channel samples containing 79,147 m of sampling for a total of 483,668 assay results covering 307,456 m of sampling. Work is ongoing to identify significant extensions outside of the current resource for future exploration planning and follow up. The following historical drill holes from 2017, the last drilling campaign completed on the existing resource, are examples of high grade gold mineralization identified: Drill hole 635-17-007, intersected 2.30m @ 20.90 g/t Au Drill hole 635-17-020, intersected 1.80m @ 50.40 g/t Au Drill hole 635-17-016, intersected 4.80m @ 29.50 g/t Au Drill hole 635-17-022, intersected 1.10m @ 179.90 g/t Au Drill hole 635-17-024, intersected 1.80m @ 38.30 g/t Au Drill hole 635-17-024, intersected 12.40m @ 13.10 g/t Au Drill hole 635-17-017, intersected 7.10m @ 12.30 g/t Au The full True North Mine area drill hole database is comprised of 12,408 drill holes comprised of 1,654,537 m of drilling with 522,485 individual assays and will form the basis of generating additional new drill targets within the mine area outside of the current resource.

The regional exploration drill database contains an additional 250 drill holes for 247,168 m of drilling and 39,524 assays. This total includes 134 drill holes from the Ogama-Rockland deposit which hosts a NI 43-101 mineral resource of 1.28 Mt @ 8.17 g/t Au for 337,000 oz of contained gold in the inferred category. The deposit is located approximately 30 kilometres by road to the east of the True North Mine.

1911 Gold will review this resource and the potential of the Rice Lake Greenstone belt as part of the new plans. Forward Plans: 1911 Gold is continuing to work towards the goal of restarting the high-grade True North gold mine, with current plans for this to occur in late 2026. This time frame could be accelerated should the market conditions and exploration results merit a faster ramp up.

The Company expects to commence work on a preliminary mine plan upon receipt of the mineral resource update, providing further details on the restart plans, timeline, key milestones, and expected costs for a successful return to operations.