OK.... This is how I would approach it.
Forget using the 'frame' to support the structure. Make a subframe from suitable timber.
In the past I've used tongue and groove cladding with the tongue side ripped off. A good
size is 100mm x 8mm. I used two layers glued/screwed together which allows you to form
half-lap joints on the corners without fancy woodworking. You can also easily incorporate
cross braces this way. It should be about 20mm bigger
all round than the poster.
Putting a mat around something that scale is going to be a major PITA so abandon that concept.
Use a 30mm wide slip. Gold and Silver should be readily available but you can use raw wood
and paint it.
Here's the crafty bit....
Cover the subframe with a board of choice. If you are uber-conservation minded it could be
thickish ragboard. I would use 5mm foamboard. This doesn't have to be one sheet. The joins won't
be seen. Tack it to the subframe. Once assembled it not going to move.
The slip will lay over this like a mat and cover 10mm of the edge. You can +/- this dimension.
In order to not restrict the edges the outer edge of the slip needs to be raised slightly. Best way is
to run a 10mm wide strip of s/a Linen tape on the underneath. The poster can then be hinged as per usual
with hard hinges at the top and as many loose hinges on the sides/bottom as appropriate.
All the hangings are put onto the subframe and you can even engineer a cleat system.
If you are set on an ali frame then it quite feasible buy you would need to drill it and insert screws through
into the subframe. It would also need a generous depth.