09:38 AM EDT, 04/09/2025 (MT Newswires) -- 1911 Gold ( AUMBF ) , which lost 8.3% on Tuesday, said it completed the re-commissioning of the True North mine hoist system in the A Shaft.

The company is now focused on completing all necessary electrical and mechanical work down to Level 16 of the underground mine. Several levels within the True North Mine are now accessible for rehabilitation, including Level 16 at a depth of 695 m below surface, and will be used for our underground drilling to reach key targets identified by the exploration team, including following the SAM Southeast and West targets to depth.

1911 Gold ( AUMBF ) said an unmanned cage reached Level 26 (1,145 m), indicating that the deepest level of the shaft is dry and has no water which will significantly reduce the anticipated dewatering time and cost of the mine at depth.

Conditions in the underground mine were better than anticipated overall, with communications and electrical equipment quickly brought online in central areas and work well underway to extend this to new target areas.

"With access to Levels 3, 8 (340 m), and 16, we will be able to aggressively pursue our resource growth strategy with an efficient and productive drill program from the underground. We are now closer to some of the best targets in the underground mine and have easy access to both new targets we identified as well as infill and extensions to the 43-101 resource released on November 20, 2024," said 1911 Gold ( AUMBF ) Chief Executive Shaun Heinrichs.

Over the coming months, the company expects to build a plan for future production that will be used to guide the underground drill targeting and assist in prioritizing target areas based on their near-term production potential, as well as define areas of significant resource growth.

The company has also been approved for a $286,000 grant from the Manitoba Mineral Development Fund to support the 2025 drill program.

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