Drill hole TN-26-076 cut 36.44 g/t Au over 1.10 m at 411.10 m downhole depth at the Baker target, including a higher-grade core of 73.70 g/t Au over 0.50 m, per 1911 Gold Corporation's (TSXV: AUMB) July 30, 2026 news release.

The Baker target sits within the SAM gabbro unit on the intersection of the 500 shear zone, approximately 170 m south of the 007 shear zone. Six drill holes totalling 2,190 m were drilled from surface to test mineralization within 350 m of surface — ground that carried no historical drilling because it sits beneath Rice Lake.

The broader program behind this release covers 30 drill holes for 8,656 m across the SAM SE, Shore, and Baker targets, all located adjacent to existing infrastructure at True North. Significant intercepts from the batch include 15.89 g/t Au over 2.70 m at SAM SE and 5.99 g/t Au over 4.90 m at Shore, per the July 30 release.

President and CEO Shaun Heinrichs commented on the SAM SE and Shore programs: "Successive drill programs on SAM SE and Shore continue to expand their footprint and confirm the grades we saw in initial drill results." On Baker specifically, Heinrichs stated: "The intersections on the 500 shear zone are encouraging as this emerging target has the potential to add new near mine resources hosted in a parallel vein system, also close to existing infrastructure." He added that "drilling to date provides confidence the zones will contribute meaningfully to the global resource update planned for later this year."

All three targets — SAM SE, Shore, and Baker — are described in the July 30 release as adjacent to or close to existing True North infrastructure. True North is operational and fully permitted within the 100%-owned Rice Lake Gold property in southeast Manitoba.

On the market side, AUMB.V traded at CA$0.5650 as of 3:22 PM EDT on July 31, 2026, down 10.32% (−CA$0.0650) from its previous close of CA$0.6300, on volume of 1,293,152 shares, per Yahoo Finance. The day's range was CA$0.5600 to CA$0.6300. The broader junior gold backdrop was mixed on July 30–31: per an ingested market snapshot dated July 30, gainers in the small-cap gold cohort included MCI.V (+40%) and KG.V (+5.6%), while GGA.V fell 14.3% and MAI.V dropped 12.5%. Whether AUMB's decline reflects sector sentiment, profit-taking, or other factors is not established in the available source material.

Shares outstanding stood at 310.79 million as of July 27, 2026, with a market cap of CA$175.60 million at a CA$0.63 price, per Morningstar data from that date. Current balance sheet figures are not available in the sourced material.

A global resource update at True North is planned for later this year, per the July 30 release. The Baker target, SAM SE, and Shore intercepts from this 30-hole, 8,656 m program are the dataset going into that estimate.