Investor Insight
1911 Gold Corporation offers a unique opportunity for investors seeking exposure to high-grade gold assets with near-term production potential, a fully permitted infrastructure, and significant exploration upside in a world-class mining jurisdiction.
Overview
1911 Gold Corporation (TSXV:AUMB,OTCQX:AUMBF) is a junior mining company focused on the exploration and development of gold resources in Manitoba, Canada. The company holds a dominant, 61,647-hectare land position in the Rice Lake greenstone belt in Manitoba, an underexplored western extension of the prolific Red Lake gold district.
The company’s strategy is focused on de-risking the existing underground mine geology, expanding its mineral resource base through exploration, and advancing towards production on an accelerated time line by leveraging the existing infrastructure in place.
Gold remains a resilient safe-haven, with demand fueled by economic uncertainty and geopolitical risk. 1911 Gold is positioned to capitalize on permitted infrastructure, a large land package, defined resources, and near-term production potential.
In July 2025, 1911 Gold closed a C$13.2 million bought-deal LIFE offering, with notable increased investment from renowned resource investor Eric Sprott. Through the financing, Sprott acquired over 9.2 million shares for C$1.86 million, increasing its stake in the company from approximately 16.7 percent to 17.2 percent. His continued backing underscores confidence in 1911 Gold’s assets and growth potential.
1911 Gold’s leadership team brings deep experience across exploration, mine development, corporate finance, and strategic planning. This collective expertise enables the company to navigate complex operational and financial challenges, positioning it as a strong contender in the junior mining sector.
Company Highlights
Fully Permitted Mill Infrastructure: A 1,300 tpd gold processing plant, expandable to 2,250 tpd, with a replacement value exceeding US$300 million.
1.1M oz Gold Resource Open for Growth: Current resources total 1.1 million ounces alongside 2 million ounces of historic production, with strong potential for expansion within the existing mine footprint.
Prospective Regional Land Package: The company holds 100 percent ownership of 62,000 hectares in a prolific greenstone belt, including three past-producing mines and nearby additional resources.
Compelling Investment Opportunity: With no royalties or debt, the project offers significant upside, peer-leading value, and strong re-rating potential from near-term catalysts.
Leadership: Seasoned management and board with a proven track record of advancing mining projects.
Key Projects
True North Project
The True North project is 1911 Gold’s flagship asset, located in the Rice Lake greenstone belt of southeastern Manitoba, approximately 150 km northeast of Winnipeg. This historically significant mine has produced over 2 million ounces (Moz) of gold and continues to offer substantial exploration upside.
The current mineral resource estimate for True North includes:
Indicated Resources: 3.52 million tonnes (Mt) at 4.41 grams per ton (g/t) gold, containing 499,000 ounces.
Inferred Resources: 5.49 Mt at 3.65 g/t gold, containing 644,000 ounces.
These resources remain open for expansion, with multiple high-priority exploration targets identified near existing underground workings.
Geology and Mineralization
The True North deposit is characterized by high-grade, structurally controlled gold mineralization hosted within the Archean Rice Lake greenstone belt. Gold occurs within quartz-carbonate vein systems associated with major regional structures and secondary shear zones. The mineralization extends to significant depths, providing long-term exploration potential.
History
Gold was first discovered at True North in 1911, leading to decades of intermittent mining under various operators. The mine has undergone multiple phases of development, with extensive underground infrastructure, including a shaft extending to a depth of over 1,200 meters. Previous owners, including San Gold Corporation and Klondex Mines, operated the mine until 2017, after which it was acquired by 1911 Gold in mid-2018.
Infrastructure and Geographic Advantages
A fully permitted 1,300-ton-per-day (tpd) mill, which can be expanded to 2,250 tpd
A permitted tailings management facility, reducing environmental and permitting risks
Year-round road access throughout the property with proximity to hydroelectric power
A 200-person camp and operational support facilities for efficient workforce deployment
Exploration and Development Plans
1911 Gold is focused on expanding the True North resource through an aggressive exploration program. The company has completed 62 surface drill holes (60 to target depth) totaling 14,974.4 metres within the True North Mine footprint. The program, which began in October 2024, is focused on new targets in prospective host rocks and mineralized structural settings, supported by significant historical results. Two rigs are currently drilling at the SAM SE and San Antonio West (SAM W) zones to test depth extensions of mineralization. Planning is also underway for underground exploration drilling, expected to commence by the end of Q3 2025.
The company will leverage True North’s existing infrastructure to restart mining operations efficiently while continuing to explore the vast untapped potential of the surrounding district.
Regional Exploration Projects
In addition to the True North mine, 1911 Gold controls a large-scale land package within the Rice Lake greenstone belt. The company has identified multiple high-potential targets within this district, including:
Ogama-Rockland: A past-producing high-grade deposit with significant exploration upside
Central Manitoba: An area with historical production featuring multiple high-grade vein structures with strong exploration potential
Gunnar: A historic mine representing an additional potential source of mill feed.
The company aims to leverage its central milling facility as part of a ‘hub-and-spoke’ development model, bringing additional satellite deposits into production.
Management Team
Shaun Heinrichs – President and CEO
With over 20 years of experience in corporate finance, strategic planning, and capital markets, Shaun Heinrichs has held key leadership roles in the mining sector. Before joining 1911 Gold, he served as CFO on various companies, including Group Eleven Resources and Veris Gold, which owned the Jerritt Canyon operation, where he played a pivotal role in corporate development and mergers and acquisitions.
Carmen Amezquita – Chief Financial Officer
A finance professional with over a decade of experience in the resource sector, Carmen has extensive expertise in financial reporting, capital management, and corporate governance for both exploration-stage and producing mining companies.
Michele Della Libera – Vice-president, Exploration
A geologist with over 30 years of experience in mineral exploration, Michele has worked extensively on gold and base metal projects across Canada and internationally and has been closely involved in the development of several mines through to production. He oversees 1911 Gold’s exploration programs, with a focus on expanding the company’s resource base and identifying new discoveries.
Gary O’Connor – Executive Chair
A veteran mining executive with decades of experience in project development and exploration, Gary has held leadership positions at major mining companies, guiding strategic growth initiatives.
Mike Hoffman – Director
A professional engineer with extensive experience in mine development, operations, and corporate strategy. He has played key roles in advancing multiple mining projects from early-stage exploration to production.
Blair Schultz – Director
A finance and investment specialist with a background in institutional asset management and corporate governance. Blair has been instrumental in providing financial oversight and strategic direction for mining companies.
Anna Ladd-Kruger – Director
A highly regarded financial executive in the mining industry, Anna has held senior leadership roles in several resource companies, focusing on financial strategy and corporate growth.
Éric Vinet – Advisor
An expert in mining operations and project development, Éric provides strategic insights on optimizing production, cost management, and operational efficiencies.