1911 Gold Reports Additional Gold Intercepts at Tinney

TORONTO, May 11, 2021 - 1911 Gold Corp. ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF) is pleased to report results from five additional exploration drillholes at the Tinney project, within its 100% owned Rice Lake exploration properties in Manitoba. The Company has now drill tested a little more than half of the exposed strike length of the Gunnar porphyry intrusion, the principal control on the gold system at Tinney, to depths up to 450 meters. The widespread presence of gold mineralization, and intense alteration and veining intersected at depth, demonstrates potential for both scale and grade in this system.

Highlights:

• Drillhole EO-21-018 intersected several zones of gold mineralization within and adjacent to the Gunnar porphyry, including a shear vein with abundant visible gold that returned 47.5 g/t gold over 1.0 metre, within 36.6 g/t gold over 1.3 metres
• Drillholes EO-21-008 and EO-21-010 yielded wide intercepts of gold mineralization within the Gunnar porphyry, which is strongly fractured, altered and veined across nearly its entire width in these drillholes, at depths in excess of 400 metres
• Drillhole TS-21-010 yielded several intercepts, including 13.7 g/t gold over 0.5 metres associated with quartz veinlets containing visible gold in the Gunnar porphyry

"With the recent phase of drilling now successfully completed at Tinney, our exploration team continues to analyze and interpret the newly-acquired data in order to refine our 3D geological model and delineate areas for follow-up drilling on these previously-untested targets", commented Dr. Scott Anderson, Vice President Exploration. "At 450 metres vertical depth, drillhole EO-21-010 is the deepest drillhole completed to date on this target and hit intense alteration and veining with strongly anomalous gold over a true width of 15 metres in the porphyry, which is particularly encouraging as it clearly points to excellent potential at depth in this system".

Included in this release are three drillholes collared from ice-based setups on Tinney Lake to test structural intersections at depth within the Gunnar porphyry, as well as two drillholes collared on land to further delineate the extents of mineralized zones intersected by the Company in previous drilling. To date, the Company has completed 10,264 metres of drilling in 32 wide-spaced drillholes at Tinney, testing three separate targets over a strike length of approximately 1.2 kilometres (Figure 1). Numerous targets have yet to be tested along this kilometres-scale gold system, which had not previously seen modern systematic exploration and remains open in all directions.

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 at Tinney is 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. New drilling indicates that gold mineralization is hosted by shear veins (e.g., EO-21-018; Figure 2) as well as much wider, more diffuse, stockwork/sheeted vein systems, with the latter principally developed in the porphyry; both locally contain coarse visible gold. These styles of veining are comparable to the two main vein sets that formed major orebodies at the 3-million-ounce Rice Lake gold deposit at Bissett, Manitoba.

Pending the outcome of further refinements to the geological model, next steps are being planned to include infill drilling in select areas to tighten drillhole spacing and confirm continuity of gold mineralization and structure, as well as deeper drilling on various targets along the Gunnar porphyry.

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

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

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 Corp.