1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) has outlined progress made in 2025 and its plans for 2026 as it advances toward a potential restart of its 100%-owned True North gold mine in southeastern Manitoba.
During 2025, the company said it transitioned into an advanced-stage developer with near-term production potential, supported by exploration success, re-entry into the underground mine, and the launch of its first underground drill program.
The company also strengthened its management and technical teams and expanded its capital markets presence. Two financings completed during the year raised C$36.2 million, enabling an expanded exploration and development program.
1911 Gold’s shares recorded a significant increase over the year, and the company ended 2025 with a market capitalization of approximately C$270 million.
It also graduated to the OTCQX Best Market in the United States, increasing its visibility with US investors.
On the technical front, 1911 Gold filed an updated NI 43-101 mineral resource estimate for True North, outlining indicated resources of 499,000 ounces of gold and inferred resources of 644,000 ounces.
The company completed more than 20,000 metres of surface drilling across multiple targets and re-commissioned key underground infrastructure, including the main mine hoist system.
An independent preliminary economic assessment (PEA) for the project is expected in the near term.
"Over the last year, we have continued to intensify our focus on our goal of returning to production in 2027. 2025 was a pivotal year on this path as we returned to the underground mine, confident with the team we had built and the results our exploration team achieved on surface," 1911 CEO Shaun Heinrichs said in a statement.
“The PEA we plan to release for True North in the coming weeks, which provides detailed information on our mine plan, the project economics, and future opportunities, will also be instrumental in prioritizing our drill program over the coming year.”
Looking ahead, the company plans to build on this work in 2026 by advancing toward a pre-feasibility study, updating its global resource estimate, and accelerating underground development and drilling. Planned activities also include mill optimization and infrastructure upgrades as part of preparations for a potential production restart in 2027.
“The 1911 Gold story is only just beginning, and supported by buoyant gold prices, 2026 is poised to deliver continued value growth,” Heinrichs concluded.