1911 Gold Corporation reported assay results from the Fall 2022 diamond drill program on its Rice Lake Gold Property in Manitoba as well as provide an update on the True North mine complex mineral resource estimate review. The 2022 drill program primarily focused on the historical Central Manitoba gold mine, located approximately 25 kilometres ("km") southeast of the True North mill and mine complex, testing the extensions of known gold mineralization. Highlights: Central Manitoba: Drill results confirmed the extensions of gold mineralized structures over 400 m of strike length on the Wentworth vein corridor and over 270 m of strike length on the Hope-Roger vein corridor.

Drill hole CM-22-010 intersected 2.75 metres ("m") of 2.27 grammes per tons ("g/t") gold ("Au") at a down hole depth of 31.10 m, including 0.55 m of 10.10 g/t Au, as a 125 m step-out to the southeast of historical drillholes, Drill hole CM-22-009 intersected 1.25 m of 3.28 g/t Au at a down hole depth of 122.25 m, including 0.55 m of 7.23 g/t Au, along strike 270 m to the northwest of CM-22-010. Palomar: Drill hole PL-22-003, intersected 3.20 m of 1.90 g/t Au at a down hole depth of 135.20 m, including 0.80 m of 7.16 g/t Au, in the first drill hole drilled on this target. 2022 Exploration Drilling Program: Central Manitoba: In 2022, the Company drill tested the extensions of high-grade veins from both historical workings and drillholes, as well as potential for parallel vein systems well into the hangingwall along strike from the historical underground workings, in areas with no record of previous drilling.

The initial program included fourteen (14) drillholes for 3,786.0 m of drilling. The Central Manitoba mine (Figure 1) is the second-largest historical producer in the Rice Lake district, with among the highest head grades (12.60 g/t Au) and total gold production of 160,000 ounces ("oz"). Bison Gold Resources Inc. ("Bison") drilled a total of sixty-six (66) diamond drill holes for a total of 13,268.9 m at Central Manitoba between 2006 and 2009, testing the extensions of gold mineralization to historical mine workings (see Bison press releases dated January 18, 2010 and March 04, 2010).

The vein systems extend over 2.6 km at surface (Figure 2) but were only mined to vertical depths of up to 150 m. Twelve (12) drillholes (CM-22-001 to CM-22-008, and CM-22-011 to CM-22-014), totalling 2,881.0 m, tested for extensions of high-grade gold mineralization intersected by Bison on the Wentworth vein system. Highlights from the previous Bison drill program included intercepts of 5.49 m @ 10.26 g/t Au, including 1.15 m @ 30.24 g/t Au from a down-hole depth of 66.66 m in drill hole CM-09-13, and 1.11 m @ 23.10 g/t Au, including 0.50 m @ 50.40 g/t Au at a down hole depth of 68.82 m in drill hole CM-09-15. The Bison drill holes were relatively shallow and close spaced, with the best intercepts occurring where the host stratigraphy appears to be more gently inclined in the hinge of an upright open fold, as well as along the steep north limb of this fold.

The 2022 1911 Gold drill program intersected predicted stratigraphy, structures, alteration, and quartz veins, with some quartz-sulphide vein intercepts reaching widths of 7.50 m (CM-08-007). These drillholes targeted plunge projections of the fold hinge and the southern limb of the fold at depth, intersecting numerous intervals of anomalous to low-grade gold assays. Significant mineralization appears primarily on the hinge and northern limb of the fold, where better intercepts were previously found.

Data from oriented drill core confirmed the geometry of these controlling structures, providing critical information on new constraints for exploration along other large-scale fold structures within the Central Manitoba trend, notably the map-scale Dove Lake syncline (Figure 1). Drill holes CM-22-002 (0.55 m @ 2.39 g/t Au), CM-22-005 (0.50 m @ 2.30 g/t Au), CM-22-007 (0.70 m @ 0.59 g/t Au), and CM-22-012 (1.00 m @ 1.58 g/t Au) confirmed the plunge extensions of the zone over a strike length exceeding 200 m. Two (2) deeper drillholes (CM-22-009 and CM-22-010), totaling 906.0 m, were step-outs on the Roger-Hope structural corridor to the southeast, designed to test the revised structural model, the potential for extensions of the Hope and Roger zones, and the potential for previously unrecognized parallel shears further into the hanging-wall of these zones. Previous drilling by Bison intersected up to 1.78 m @ 57.99 g/t Au, including 0.49 m @ 207.37 g/t Au in drill hole CM-08-04 at a down hole depth of 191.57 m, and 3.04 m @ 9.26 g/t Au, including 0.30 m @ 87.56 g/t Au in drill hole CM-08-04 at a down hole depth of 206.85 m (see Bison press releases dated January 18, 2010 and March 04, 2010).

Drillhole CM-22-009 confirms that the Roger vein continues to depth below the historical workings, intersecting 1.25 m @ 3.28 g/t Au, including 0.55 m @ 7.23 g/t Au at a down hole depth of 122.25 m associated with quartz-sulphide veins within 6.0 m of strongly sheared and altered rock, representing the host structure to the Roger vein. Drillhole CM-22-010 intersected a new gold zone that returned 2.75 m @ 2.27 g/t Au, including 0.55m @ 10.10 g/t Au from 31.10 m downhole, confirming the presence of mineralized structures well into the hangingwall south of historical workings, and highlighting the potential for additional structures along strike to the southeast in the block of favorable stratigraphy between the North Carbonate and Dove Lake faults. Palomar: Palomar is a significantly underexplored area located 20 km east of the True North mill and mine complex.

In late 2022 the Company completed a maiden drill program consisting of three (3) drillholes, totalling 603.0 m, to test two parallel structures that returned high-grade gold values from grab and channel samples (up to 2.40 m @ 10.60 g/t Au). The structures range up to 5 m in thickness and are spaced approximately 20 m apart, over an exposed strike length of 125 m on surface. These drillholes, spaced roughly 70 m apart along the structural trend, confirmed that the mineralized structures continue to depth, yielding anomalous to low-grade gold values.

Of note in drillhole PL-22-003 is the presence of three spatially separate zones, the deepest of which is a distinct zone of sheeted laminar quartz veins that returned 3.20 m @ 1.90 g/t Au, including 0.80 m @ 7.16 g/t Au from 135.20 m downhole. The mineralized structures remain open in all directions.