09:45 AM EDT, 08/28/2025 (MT Newswires) -- 1911 Gold ( AUMBF ) on Thursday said it is progressing its preliminary economic assessment (PEA) for the True North Gold Project in Manitoba.

The PEA will evaluate the potential restart of underground mining operations at the True North mine, utilizing the existing permitted 1,300 tonne-per-day processing facility in Bissett. While the PEA will not incorporate results from recent and planned drilling, management believes that continued exploration success may provide significant upside beyond the scope of this assessment.

"We intend to use the results of the PEA, together with delineation drilling to be completed in the fall on two bulk sample target zones, to finalize plans for a trial production run in mid-2026," said Chief Executive Shaun Heinrichs. "This initial trial mining campaign, expected to last 3 - 5 months, will provide an important step toward demonstrating the planned mining and development methods, as well as confirm the resource and economics."

The PEA is expected to be completed by the first quarter of next year.

1911 shares are up $0.01, to $0.30, on the TSX Venture Exchange.

Price: 0.29, Change: +0.01, Percent Change: +1.75