TORONTO, March 15,
2022 /CNW/ - 1911 Gold
Corporation ("1911 Gold" or the
"Company") (TSXV: AUMB) (OTCQX: AUMBF) is pleased to
announce the appointment of Shaun
Heinrichs as President, CEO and Director of 1911 Gold
Corporation effective immediately as part of the Company's
succession plan.
Mr. Heinrichs previously served as the Chief Financial Officer
of 1911 Gold, having joined the Company on June 28, 2018, prior to the spin-out from Klondex
Mines Ltd. During this time Mr. Heinrichs has taken an active role
in both the management of the Rice Lake operations as well as the
Company's investor relations activities. Mr. Heinrichs is a
seasoned mining executive with over 20 years experience in the
resource industry, primarily focused on the financing and
management of gold focused mining and exploration companies.
Mr. Ron Clayton, the outgoing
President and CEO of 1911 Gold, will be remaining as a director as
well as act in an advisory role to Mr. Heinrichs during this
transition. Mr. Clayton is stepping down from his duties as CEO to
focus on other interests as well as spend more time with his
family.
Shaun Heinrichs, incoming
President and CEO commented: "I wish to thank Ron for his
mentorship and support which has allowed me to take on this new
role. I believe 1911 Gold presents a unique investment opportunity
in the gold sector with its significant land position in the highly
prospective Rice Lake greenstone belt in Manitoba, Canada. The Rice Lake property,
historically underexplored outside of the existing underground
mine, lies along an ancient plate margin extending across to the
prolific Red Lake gold camp and
has the potential to contain one or more significant gold deposits.
I look forward to continuing to work with our experienced
exploration team led by Scott
Anderson to make those discoveries."
Mike Hoffman, Chair of 1911 Gold
commented; "The Board of 1911 Gold is excited for Shaun to be
leading the Company forward and feel his background and experience
will deliver value for our shareholders. We wish to thank
Ron Clayton for his leadership
during the past few years and we are pleased that he will be
remaining as a director of 1911 Gold."
In connection with Mr. Heinrichs being appointed as President
and CEO, he has been granted 300,000 options to purchase common
shares of the Company pursuant to the Company's Share Option Plan.
Such options have an exercise price of $0.40 per common share and expire on
March 15, 2027. The options vest as
to one-third immediately and one-third after the first and second
anniversaries of the date of grant.
The Company is currently undertaking a search process to choose
a new Chief Financial Officer.
About 1911 Gold Corporation
1911 Gold is a junior explorer that holds a highly prospective,
consolidated land package totalling more than 58,000 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, where it is reprocessing historic tailings on a
seasonal basis. 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 Tully and Denton-Keefer projects near
Timmins, Ontario, and intends to
focus on both organic growth opportunities 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.
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 Flow-Through Shares, the timing for the
Qualifying Expenditures to be renounced in favour of the
subscribers, the impact of COVID-19 on the business of the Company
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