TORONTO, 1911 Gold Corporation (“1911 Gold” or the “Company”) (TSXV: AUMB); (OTC: AUMBF) is pleased to announce that it has negotiated the settlement of $356,500 related to drilling and other consulting services provided to the Company in 2022 in consideration for the issuance of 4,753,333 common shares of the Company at a deemed price of $0.075 per common share.
The debt settlement is subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. The common shares issued pursuant to the debt settlement will be subject to a statutory hold period which will expire four months and one day from the date of closing of the debt settlement.
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totalling more than 63,000 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. 1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth 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 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information: Shaun Heinrichs, President and CEO, (604) 674-1293, firstname.lastname@example.org