1911 Gold Advances the Apex Gold Property near Snow Lake Manitoba; Grab Samples Return up to 1,240 Grams per Tonne Gold

TORONTO, Oct. 6, 2021 - 1911 Gold Corp. ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF) is pleased to provide an exploration update for its 100% owned Apex Gold Property, located in the prolific Snow Lake Mining District in northern Manitoba.

Highlights:

• Assay values up to 1,240 g/t gold obtained from grab samples of quartz veins and altered wallrock associated with fault systems cutting the Rex Lake Pluton, adjacent to the crustal-scale Crowduck Bay Fault
  
  
• High-grade gold is associated with zones of sulphide enrichment containing up to 40% disseminated sulphide (arsenopyrite, pyrite, pyrrhotite, chalcopyrite), within and peripheral to fault-systems in the Rex Lake Pluton
  
  
• Recently-completed OreVision® induced-potential (IP) geophysical survey by Abitibi Geophysics identified strong chargeability anomalies, interpreted to signify zones of sulphide enrichment, coinciding with known near-surface gold mineralization
  
  
• Larger IP anomalies also identified at depth within and adjacent to the Rex Lake Pluton, which have not been tested by previous drilling

Scott Anderson, Ph.D., P.Geo., Vice-President Exploration, stated, "While the Company remains focused on its flagship asset in the Rice Lake Gold District of southeast Manitoba, we continue to advance other assets within the Company's portfolio, and are extremely pleased with the results to date from the Apex Gold Property. Located immediately to the north and adjacent to the Laguna Gold Property currently being explored by an affiliate of Kinross Gold Corp., the highly prospective Apex Gold Property has rapidly advanced to drill-ready status and the Company looks forward to testing a number of very compelling drill targets that show strong potential for significant discovery".

Apex Gold Property - Exploration Program

The Company initiated exploration at the Apex Gold Property in 2019, completing reconnaissance geological mapping, prospecting and surficial geochemical surveys of historical gold showings. This work confirmed the widespread presence of gold mineralization and yielded assay values up to 132.6 g/t gold from strongly sulphidized inclusions (xenoliths) in the Rex Lake Pluton (Table 1).

This important new observation prompted 1911 Gold to expand its land position westward, staking seven additional claims, totaling 1,448 hectares, to cover the western contact of the Rex Lake Pluton and the adjacent Burntwood Group - a possible source of the high-grade xenolith in the pluton (Figure 1).

In 2021, the Company cut a 17 line-kilometre grid to facilitate a geophysical survey across the major trend of gold mineralization and the western contact of the pluton. The survey, completed by Abitibi Geophysics using the OreVision® induced-polarization (IP) system, included six profile lines arranged into 3 pairs of 200-metre-spaced lines, with each pair separated by 400 metres, providing coverage over 1,400 metres of strike length along the targeted features.

The OreVision® IP survey successfully identified two priority trends of chargeable targets, the eastern of which is entirely within the Rex Lake Pluton and includes the historical Apex Gold Deposit at its northern end (Figure 1). The western trend mimics the contact of the Rex Lake Pluton and Burntwood Group. In section, the eastern trend is defined by a series of sub-horizontal anomalies extending to depth (consistent with the sub-horizontal attitude of the Apex Gold Deposit), whereas the western trend includes both subvertical and sub-horizontal anomalies. Each trend thus contains extremely compelling targets for exploration drilling, in areas with no record of historical drilling.

Follow-up work during the 2021 field season included two weeks of geological mapping, prospecting and surficial geochemistry, expanding on the work completed in 2019 and extending coverage over near-surface geophysical targets identified by the IP survey.

Highlights from grab sampling during this program include several high-grade gold values from the defined mineralized trends within the pluton, including a spectacular value of 1,240 g/t gold from the historical Montana vein in the northeast portion of the property. To date, 52% of samples collected by 1911 Gold have returned values greater than 1 g/t gold, with 18% of samples containing greater than 5 g/t gold, highlighting the excellent prospectivity of this property.

Apex Gold Property - Background

The Apex Gold Property, totalling 2,200 hectares, is located 14 kilometres southeast of Snow Lake Manitoba (Figure 1), within the prolific Snow Lake Mining District that contains world-class base-metal and gold deposits, as well as significant deposits of nickel and lithium.

Gold mineralization on the property is hosted by the Rex Lake Pluton - a multiphase gabbro-granite intrusion that was emplaced into marine sedimentary rocks of the Burntwood Group, immediately north of the crustal-scale Crowduck Bay Fault. High-grade gold mineralization is hosted by quartz veins in brittle-ductile shears and faults, as well as zones of disseminated sulphides containing arsenopyrite, pyrite, pyrrhotite and chalcopyrite.

The Apex Gold Deposit, discovered in 1918, is the most significant gold occurrence on the property. It forms a sub-horizontal sheet-like body exposed at surface over an area measuring approximately 200 metres by 150 metres, consisting of disseminated to fracture-controlled quartz and arsenopyrite. The deposit was tested by several drilling programs between 1934 and 1981, consisting mainly of shallow, close-spaced drillholes (approximately 6,000 metres in 100 drillholes), from which a historical resource was calculated (pre-dates National Instrument 43-101 Standards of Disclosure for Mineral Projects).

In 2009, Bison Gold Resources Inc. completed a detailed (20 metre line-spacing) airborne magnetic gradiometer survey, totalling 1,612 line-kilometres, over the Apex Gold Property, providing much clearer resolution of the internal complexity of the Rex Lake Pluton. Importantly, this survey also clearly outlined the Apex Gold Deposit and demonstrated the presence of several similar geophysical anomalies with no record of historical drilling.

Outlook

The Company continues to process new data collected during the 2021 field exploration program, which prioritized the acquisition of surficial geochemical data over geophysical anomalies in areas of minimal bedrock exposure. The results of the field program will be integrated with the high-quality geophysical datasets to prioritize targets for exploration drilling, planned to include approximately 2,500 metres in Q1-Q2 2022.

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. Rock samples were submitted to Activation Laboratories Ltd. in Ancastor, Ontario (2021 program) or TSL Laboratories Inc. in Saskatoon, Saskatchewan (2019 program), for gold determinations by 30-gram fire assay and AAS finish. Samples above threshold were re-assayed with a gravimetric finish using a cut of the original pulp. In addition to laboratory 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 samples account for 10% of the total submitted. Results are routinely evaluated for accuracy, precision and contamination.

Qualified Person Statement

Technical information in this news release has been reviewed and approved by 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 of contiguous mining claims that totals more than 58,000 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 Apex Gold Property near Snow Lake, Manitoba and the Tully and Denton-Keefer gold properties 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, and all local stakeholders, 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.

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SOURCE 1911 Gold Corp.