1911 Gold Taps Market to Fund 2027 Restart of Manitoba's True North Mine

VANCOUVER, BC – June 08, 2026 – In a move signaling a decisive push towards production, 1911 Gold Corporation has announced an overnight marketed public offering to finance the final stages of development for its True North Gold Project in Manitoba. The offering, detailed in a preliminary prospectus, is not merely a standard capital raise; it is a strategically structured financial maneuver designed to accelerate the company’s ambitious goal of restarting the historic mine by 2027.

Led by a syndicate of underwriters featuring Roth Canada, Inc. and BMO Capital Markets as joint bookrunners, the offering underscores a significant vote of confidence from the financial community. The company is seeking to issue a mix of common shares and several classes of tax-incentivized flow-through shares. The proceeds are earmarked for exploration, development, and technical studies at True North, a project poised to reawaken a storied Canadian gold district. For a company that has methodically laid the groundwork for revival, this offering represents the critical fuel needed to cross the finish line.

A Calculated Path to Production

The timing of this capital raise is anything but coincidental. It follows a series of meticulously executed milestones that have progressively de-risked the True North project. In February 2026, 1911 Gold released a robust Preliminary Economic Assessment (PEA) that outlined an 11-year mine life with steady-state production of over 58,000 ounces per year. Critically, the PEA highlighted the project's key advantage: existing infrastructure, including a fully permitted 1,300 tonne-per-day mill and underground workings, valued at over $400 million. This legacy infrastructure dramatically lowers the capital hurdle for a restart, a fact that has not gone unnoticed by the market.

Proceeds from the offering will directly fund the activities outlined in this roadmap. Just last month, the company commenced drift development on Level 16 of the True North Mine, a tangible step towards initiating test mining later this year. This work, along with ongoing infill and delineation drilling, is essential for gathering the operational data needed to finalize the restart plan. An updated mineral resource estimate is also slated for later in 2026, which could further enhance the project's already compelling economics. The capital infusion is designed to ensure these concurrent workstreams proceed without delay, keeping the 2027 target firmly in sight.

"This financing is the logical next step in a very deliberate strategy," noted a source familiar with the company's plans. "They have the asset, the permit, the infrastructure, and a clear technical plan. Now, they are securing the capital to execute it."

The Strategic Edge of Flow-Through Financing

Beyond the headline, the structure of the offering reveals a deeper layer of financial acumen. The inclusion of Canadian Exploration Expense (CEE) and Canadian Development Expense (CDE) flow-through shares is a savvy move tailored to the realities of Canadian resource development. This unique mechanism allows the company to transfer qualifying exploration and development expenses to its investors, who can then deduct them against their own income.

For investors, the appeal is powerful. Those subscribing to CEE shares can deduct 100% of their investment in the year it's made, a benefit amplified by federal tax credits like the 15% Mineral Exploration Tax Credit (METC) and, for Manitoban investors, an additional 30% provincial credit. This structure effectively lowers the net cost and risk of investment, making the offering highly attractive to a sophisticated pool of capital specializing in resource tax shelters.

From the company's perspective, it’s a highly efficient way to fund the high-cost, high-risk work of exploration. By leveraging these government incentives, 1911 Gold can raise capital at a potentially lower cost of dilution than a standard equity offering. It demonstrates that CEO Shaun Heinrichs and his team are not just mine builders but are also adept at navigating the fiscal landscape to maximize shareholder value. This is precisely the kind of strategic governance that separates successful developers from the pack.

Revitalizing a Historic Gold District

The impact of this financing extends beyond the company's balance sheet. The True North Gold Project is the centerpiece of a vast, ~62,000-hectare land package in Manitoba's Archean Rice Lake Greenstone Belt, a district with a legacy of producing nearly two million ounces of gold. 1911 Gold's strategy is not just to restart a single mine but to build a district-scale operation, using the central True North mill as a hub to process ore from numerous surrounding deposits.

This ambition carries significant regional importance. A successful restart would mark a major economic revitalization for the area, creating jobs and stimulating local commerce. Central to this vision is the company's stated commitment to fostering cooperative and respectful relationships with the local Hollow Water First Nation and Black River First Nation, on whose traditional territories the project is located. In an era where ESG performance is paramount, securing the social license to operate is as crucial as securing capital.

The offering, expected to close around June 30, 2026, comes as 1911 Gold enjoys considerable momentum. The company has shored up its balance sheet, moving from a working capital deficit in 2022 to a surplus by the end of 2023, and even generated modest revenue from a mill clean-out operation. With this strategic injection of capital, 1911 Gold is positioning itself to transform from an advanced explorer into Canada's next gold producer.