1911 Gold Corporation Acquires Additional Mineral Claims
TORONTO, July 17, 2019 – 1911 Gold Corporation (TSXV: AUMB) (“1911 Gold” or the “Company”) is pleased to announce that it has, through a wholly-owned subsidiary, 1911 Gold Canada Corporation (“1911 Gold Canada”), entered into an arms’ length agreement to acquire three additional claims, totaling approximately 230 hectares, on the Rice Lake belt in Manitoba, Canada. These claims are located within the boundaries of the Company’s mineral dispositions and afford an opportunity to further consolidate its land position along this highly prospective greenstone belt. Each of the claims contains historical gold occurrences and their acquisition will allow 1911 Gold to expand their current exploration activities in two key project areas.
Under the terms of the purchase agreement 1911 Gold will issue 150,000 shares for consideration of $45,000, based on the closing date of the agreement, to the private owner of these claims. The acquisition is subject to TSX Venture Exchange approval.
ABOUT 1911 GOLD CORPORATION
1911 Gold is a junior gold producer and explorer that owns the True North mine and mill complex and is currently reprocessing historic tailings on a seasonal basis. In addition to operating the True North mill in Bissett, Manitoba, 1911 Gold holds approximately 53,000 hectares of highly prospective land within and adjacent to the Rice Lake greenstone belt. 1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on its True North facility. The Company also owns the Tully project 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). 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
President and CEO