VANCOUVER, BC, April 15,
2024 /CNW/ - 1911 Gold Corporation
("1911 Gold" or the "Company") (TSXV: AUMB) (OTCBB:
AUMBF) is pleased to announce the appointment of Gary O'Connor to the Board of Directors as
Executive Chair with immediate effect. Mike
Hoffman, the outgoing Independent Chair, will continue to
serve as a Director of the Company and stand for re-election at the
upcoming annual general meeting.
"On behalf of myself and the other Directors, I am pleased to
extend a warm welcome to Gary as the latest member of the 1911 Gold
Board and management team." Shaun
Heinrichs, President, and CEO stated, "Working closely with
Gary these last several months has shown me the strength of his
analytical and technical skills, as well as the leadership he
provides as we identify and develop the key opportunities for 1911
Gold. The combination of Gary and the recently hired VP
Exploration, Michele Della Libera,
provide the right experience and background we need to transform
the Rice Lake belt into a profitable, long term gold producer."
"I am looking forward to continuing to work with the 1911 Gold
team in executing on advancing and progressing the significant gold
assets and infrastructure held within the Company. In the last
several months we have identified significant resource and value
upside and are now advancing the plan to realize this value for all
our stakeholders", commented Gary
O'Connor. "Our initial focus has been the review and
redevelopment of True North gold resources to be followed by the
review of new resources within the True North mine footprint and
the 100% owned Rice Lake greenstone gold belt."
Gary O'Connor has over 40 years
of diverse experience as a mineral exploration and development
professional in the management of successful resource projects as
well as the evaluation and technical due diligence of large mineral
exploration and development projects within various geologic
settings and locations covering a variety of metals and minerals.
Mr. O'Connor was recently CEO and President of Moneta Gold Inc.
Previously he worked as Vice-President of Dundee Resources for 10
years, responsible for the technical due diligence of resource
projects for investment purposes for the corporation and managed
funds. In previous roles he worked as the Vice-President,
Exploration of Gabriel Resources and European Goldfields in
Romania, and as District
Exploration Manager for Freeport-McMoRan Copper & Gold in
Indonesia.
Pursuant to the Company's stock option plan, a total of 350,000
stock options have been issued to Gary
O'Connor as well as an additional 200,000 stock options to
Michele Della Libera and another
325,000 stock options to employees and consultants to the company.
The options have an exercise price of $0.11 per common share, vest as to one-third
immediately and one-third after the first and second anniversaries
of the date of grant, and expire on April
15, 2029.
The Company will also issue a total of 79,545 deferred share
units ("DSUs") to three independent directors under the Company's
Deferred Share Unit plan. Each DSU entitles the holder to receive
one share of the Company, or in certain circumstances a cash
payment equal to the value of one share of the Company, at the time
the holder ceases to be a director of the Company. Going forward,
the Company intends to issue DSUs at the end of each quarter in
lieu of cash for a portion of each director's fees.
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
Shaun Heinrichs
President and CEO
www.1911gold.com
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often,
but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or describes a "goal", or variation of such words and phrases or
state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and
assumptions based on information available at the time the
statements were made. Actual results or events may differ from
those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements, including the assumptions listed below. Although the
Company believes that these assumptions are reasonable, this list
is not exhaustive of factors that may affect any of the
forward-looking statements.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which
may cause the actual results, performance or achievements to be
materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or
implied by the forward-looking statements. All statements that
address expectations or projections about the future, including,
but not limited to, statements with respect to the terms of the
Offering, the use of proceeds of the Offering, the timing and
ability of the Company to close the Offering, the timing and
ability of the Company to receive necessary regulatory approvals,
the tax treatment of the securities issued under the Offering, the
timing for the Qualifying Expenditures to be renounced in favour of
the subscribers, and the plans, operations and prospects of the
Company, are forward-looking statements. Although 1911 Gold has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release
are given as of the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except in accordance with applicable securities
laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE 1911 Gold Corporation