Commodities
1911 Gold Issues Clarification of February 2026 PEA Disclosure
1911 Gold Corporation ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF) (FRA: 2KY) announces that, as a result of a review by the British Columbia Securities Commission ("BCSC"), the Company is issuing this news release to clarify and correct certain statements made in its news release dated February 10, 2026 (the "February Release") regarding the results of a preliminary economic assessment (the "PEA") on its True North Gold Project ("True North" or the "True North Project"), located i
About this update from 1911 Gold Corp.
VANCOUVER, BC, July 2, 2026 /CNW/ - 1911 Gold Corporation ("1911 Gold" or the "Company") (TSXV: AUMB) (OTCQX: AUMBF) (FRA: 2KY) announces that, as a result of a review by the British Columbia Securities Commission ("BCSC"), the Company is issuing this news release to clarify and correct certain statements made in its news release dated February 10, 2026 (the "February Release") regarding the results of a preliminary economic assessment (the "PEA") on its True North Gold Project ("True North" or the "True North Project"), located in southeastern Manitoba, Canada. Retraction of Prior Statements The February Release announced the results of the PEA and disclosed certain characterizations of the PEA's results and economic conclusions. Certain statements in the February Release were misleading and contrary to cautionary language required by sections 2.3(3)(a) and 3.4(e) of National Instrument 43-101 Standards of Disclosure for Mineral Project ("NI 43-101"), as they appeared to suggest that the results of the PEA were more than preliminary in nature with a higher degree of certainty and the mineral resources underlying the PEA have demonstrated economic viability. Investors are cautioned that certain statements contained in the February Release should not be relied upon. The Company retracts these prior statements. Why This Disclosure Was Non-Compliant A PEA is, by definition under NI 43-101, a conceptual study of the potential viability of mineral resources. It is not a pre-feasibility study ("PFS") or a feasibility study ("FS") and may not be presented as equivalent to one. These statements are misleading as they convey a level of certainty about the economics of the True North Project that is inconsistent with the conceptual and preliminary nature of a PEA and is contrary to the required cautionary language under NI 43-101; and the statements are non-compliant as they suggest that a production decision has been made, or that the True North Project has achieved a level of technical and economic confidence equivalent to a PFS or FS. The Company confirms that no such production determination has been made. The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to it that would enable it to be categorized as mineral reserves. There is no certai...