1911 Gold Corporation (AUMB) Mining Forum Americas 2026 summary

Project overview and operational status

• Fully permitted gold mining operation in Manitoba with four underground mines, two currently active and two more to be reactivated by late 2027.

• Centralized mill with a new crushing circuit to be commissioned by November, aiming for first gold pour in December; initial production will be low grade but expected to ramp up.

• Production targets are 20,000–25,000 ounces in 2027, increasing to 58,000–60,000 ounces annually by 2028, with long-term potential to exceed 100,000 ounces.

• All-in sustaining cost projected just under CAD 1,900 per ounce, with free cash flow potential near CAD 1 billion at CAD 4,000 gold.

• Infrastructure includes road access, hydroelectric power, and proximity to supportive communities.

Exploration and resource development

• Recent discoveries of three new shear structures, with a fourth emerging, all open at depth and accessible from existing workings.

• Major resource update expected within four to six weeks, incorporating new zones and supporting a revised mine plan.

• Active drilling campaigns both underground and on surface, with plans to expand into brownfields and greenfields areas using cash flow from operations.

• Satellite resource at Ogama-Rockland being advanced toward bulk sampling and permitting within 18–24 months.

• Gunnar mine, a historic high-grade producer, targeted for renewed drilling and potential resource expansion.

Team, funding, and near-term catalysts

• Highly experienced technical and geology teams assembled, with key hires driving project de-risking and development.

• Cash position just under $15 million, with access to a $20 million credit facility; major expenditures ongoing for development and construction.

• Key near-term catalysts include commissioning of the crushing circuit, resource update, and ramp-up of underground operations.

• Test mining and optimization of the mine plan expected in early 2027, with production ramping up as additional crews are added.

• Focus on reinvesting cash flow into exploration, mine expansion, and share structure over the next several years.