Gold Terra Resource Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Gold Terra Resource Corp. is a junior gold exploration company that has assembled a highly prospective district scale land position on the doorstep of the City of Yellowknife in the Northwest Territories (NWT). Gold Terra currently focusing its drilling on the prolific Campbell shear, where 14 million ounces of gold have been produced, and most recently on the Con mine option (CMO) property claims immediately south of the past-producing Con Mine (1938-2003).

Gold Terra's Yellowknife City Gold (YCG) and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines.

The Company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested, reinforcing the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

Investment Highlights

Large Potential

• High grade gold along the Campbell Shear (14 Moz produced)
• 100% District Scale = 70 km strike length and extensive 918 square kilometre land package

Grade is King

• November 19th 2021 – C$1.5M Strategic Investment and Option Agreement with Newmont to purchase 100% of the past producing high-grade Con Gold Mine.
• Past Producer of High-grade gold (16-20 g/t Au)

Execution

• Drilled more than 23,000 metres to date on the Campbell shear on the Con Mine Option
• 2023 Ongoing Program of +10,000m

Growing Resource

• 2022 Mineral Resource Estimate (MRE) added 109,000 ounces Indicated @ 7.6 g/t Au and 432,000 ounces Inferred @ 6.7 g/t Au to the existing 1.21 Moz outside the CMO

Experienced Management

• Track record of finding ounces and building environmentally responsible mines

Commitment to Environmental, Social & Governance (ESG)

• Gold Terra is the recipient of the 2023 NWT MAX Environmental and Social Responsibility Award in recognition of exceptional efforts in supporting the 2023 NWT wildfire efforts

With ready access to infrastructure and multiple new high-grade gold discoveries, Gold Terra is on track to re-establishing Yellowknife as one of the premier gold mining districts in Canada.

Projects in Hand

Con Mine Option Property, Northwest Territories

In November 2021, Gold Terra entered into an Option Agreement with Newmont to Purchase 100% of Miramar Northern Mining's Past Producing High-Grade Gold Con Mine at Yellowknife, NWT. The former Con Mine is a world-class gold deposit and part of the prolific Yellowknife mining camp where 6.1 M ounces of high-grade gold were recovered from the underground operation encompassing both the Con Shear and Campbell Shear. The Con Mine Option Property has added to the Company's large land holdings a key piece of ground with excellent potential along the Campbell Shear to add high-grade gold resources.

• The Con Mine Option Property is located beside the City of Yellowknife and adjacent to the Company's 100% owned Yellowknife City Gold Project in the Northwest Territories.
• Surface mining lease
• Historical (Reserves + M+I) 650,000 ounces @ 11 g/t Au left in the Con Mine as of 2002 on closing
• Water treatment Plant built in 2015
• Underground infrastructure in place including the deep Robertson shaft (1,950 metres) with a 2000-ton-per-day capacity

Near Surface Deposits

The Con Mine Option Property initial Mineral Resource Estimate includes three near surface gold deposits – Yellorex Main, Yellorex North, and Kam Point (Effective date of September 2, 2022):

• Underground Indicated 0.82 M tonnes averaging 7.55 g/t Au for 109,000 ounces of contained gold
• Underground Inferred of 2.0 M tonnes averaging 6.74 g/t Au for 432,000 ounces of contained gold

Deep Drilling Update

Gold Terra's current focus is on a deep drilling program under the former Con Mine workings below 2,000 metres from surface. Management believes this is the best target to outline an additional potential 1 to 2 Mozs of high-grade gold. The target is the Campbell Shear structure from which 6.1 Moz @ 15-20 g/t gold was produced between 1938-2003. The mine was shut down due to the low price of gold, not because it was exhausted from gold.

Gold Terra's first deep drill hole, GTCM23-055, was a success in confirming gold mineralization 200 metres below existing underground workings at a downhole depth of 2,075 to 2,135 metres and extending the Campbell Shear (CS) with an excellent high-grade intersection of 12.73 g/t Au over 1.7 metres.

Gold Terra has started a second deeper hole approximately 600 metres below the Robertson shaft (1,900 metres below surface), to test a larger area for gold mineralization in the CS. (See news release dated February 7, 2024)

Yellowknife City Gold Project, Northwest Territories

The Company's 100%-owned Yellowknife City Gold (YCG) project encompasses 918 sq. km of contiguous land right next to city of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.

Yellowknife Gold Belt

Exceptional 918 sq. km Land Package in One of Canada's Major Gold Districts

Project on same trend as two of the highest-grade gold mines in Canada

• Giant Mine – 8.1 Moz at +0.6 oz/t (22 g/t Au)
• Con Mine – 6.1 Moz at +0.5 oz/t (15 g/t Au)

Option Agreement with Newmont to purchase former Con Mine

• Multiple High-Grade Targets on Campbell Shear
• Con Mine historical un-mined reserves remain, along with other unexplored high-potential areas

High potential for additional new discoveries with many targets

Close to City of Yellowknife

• Excellent Infrastructure- airport, roads, rail and workforce in place

Focus on the Campbell Shear

2023 focus on Con Mine near surface where the last MRE was on 3 deposits immediately south of the former mine.

Drilling Targets between surface and 500m vertical over 2km strike length:

• Yellorex North
• Yellorex Main

Yellorex Zone

• Yellorex 2021 and 2022 drilling infill program completed
• 21 drill holes completed for 10,538.11 metres
• Yellorex Main account for a total of 329,000 ounces near surface @ 7.5 g/t Au (MRE 2022)
• 92% recovery testwork in summer 2022

2021 Mineral Resource on the adjoining Yellowknife Project (Outside the Con Mine)

• March 2021 mineral resource estimate of 1,207,000 inferred ounces:
• Open pit constrained Inferred mineral resource of 21.8 million tonnes averaging 1.25 g/t for 876,000 ounces of contained gold, and an
• Underground Inferred mineral resource of 2.55 million tonnes averaging 4.04 g/t for 331,000 ounces of contained gold.
• A 64% increase to the November 2019 mineral resource estimate:
• Open pit: shallow high-grade starter pit at Crestaurum
• Underground: Inferred 153,000 oz defined along strike length of 1.2km over widths of 2-15m and to depth of ~200m

• 19 holes for total of 6,011 metres completed in 2022
• Extended gold mineralization in the Mispickel area with the addition of two new gold zones, MP-Ryan and Zone 14
• GTWL22-002: 19.00 g/t gold over 4.0 metres @ 20m down the hole (73.9 g/t over 1.0 metre)
• GTWL22-004: 7.63 g/t gold over 3 metres including 22.5 g/t Au over 1 metre
• GTWL22-0014: 31.89 g/t gold over 3 metres including 69.4 g/t Au over 1 metre

Management

Management and Directors

Gerald Panneton, Chairman & CEO

Geologist with over 35 years of Canadian and international experience

Founder, President and CEO of Detour Gold Corporation (2006-2013)

Detour Lake project grew to over 16 million ounces in reserves and was brought into production in just over six years. Detour Gold was sold for C$4.9B

Raised $2.6 billion in capital while at Detour Gold

Recipient of the PDAC 2011 Bill Dennis Award

12 years at Barrick Gold (1994-2006): advanced Tulawaka and Buzwagi gold mines in Tanzania to production

Mark T. Brown, Chief Financial Officer

30 years of financial experience; President of Pacific Opportunity since 1997; Founder of Rare Element Resources Ltd.

Paul Bonneville, Director

Mining engineer with over 30 years of experience

Louis Dionne, Senior Technical Advisor

Mining engineer with over 35 years of experience (over 20 years at Barrick Gold)

Former Director of Detour Gold and Aurizon Mines

Former President and CEO of Richmont Mines

Joe Campbell, Senior Technical Advisor

Founder of Gold Terra (formerly TerraX) and professional geologist with over 40 years of experience (mainly with Noranda and Western Mining Corp.)

Discovered Meliadine (Nunavut) which sold to Agnico Eagle for $700 M in 2010

David Suda, Advisor

Financial services professional with 11 years of experience in capital markets including sales, trading, investment banking and corporate strategy

Patsie Ducharme, CPA, CGA, Director

Laurie Gaborit, Director

Hellen Siwanowicz, Director

News Update

On October 30, 2024, Gold Terra Resource Corp. proposes to undertake a non-brokered private placement of up to 10 million common shares at a price of five cents and up to 30 million charity flow-through common shares of the company at a price of seven cents for total gross proceeds of up to $2.6-million. The charity flow-through share will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The proceeds from the charity flow-through shares will be used for exploration expenditures for drilling on the Con mine option property and the Campbell shear target area on the company's 100-per-cent Northbelt property while the net proceeds from the non-flow-through shares will be used for working capital and general corporate purposes.

On October 24, 2024, Gold Terra Resource Corp. announced the Private Placement

Financing type: non-brokered private placement

Gross proceeds: $572,500

Offering: 11.45 million listed shares

Offering price: five cents per listed share

Disclosure: Refer to the company's news release dated Oct. 23, 2024.

On October 23, 2024, Gold Terra Resource Corp. has closed a non-brokered private placement for gross proceeds of $572,500 from the sale of 11.45 million common shares of the company at a price of five cents per common share.

The net proceeds from the offering will be used for exploration expenditures for drilling on the Con mine option property and the Campbell shear target area on the company's 100-per-cent-owned Northbelt property, as well as for general corporate purposes.

Gerald Panneton, chairman and chief executive officer, commented: "I would like to thank our current shareholders and several new ones who participated in this financing for their continued support of Gold Terra. Our 2024/2025 program will resume with the wedging program, which is testing the Campbell shear structure with our completed master hole GTCM24-056 below the existing working of the Con mine, which produced 5.1 million ounces of gold at an average grade of 16 grams per tonne."

On September 26, 2024, Gold Terra Resource Corp. will host a town hall meeting on Oct. 1, 2024, at 7 p.m. MDT, at the Yellowknife Historical Society Museum, 510 Access Rd., Yellowknife. Gerald Panneton, chairman and chief executive officer, will provide stakeholders and interested parties an update on the company's activities in 2024 and the path forward. It is an opportunity to answer any questions that stakeholders may have regarding the company's vision and exploration plans for the coming year. A recording of the town hall meeting will be available on the company's website after the meeting.

Mr. Panneton commented: "A modern mining approach can play an important role in providing economic benefits for the City of Yellowknife and the Northwest Territories. Community engagement as well as social and environmental responsibilities are extremely important to Gold Terra. We welcome these annual opportunities to engage with local stakeholders and to discuss our ongoing exploration plans and the resulting future benefits to the local economy. Gold Terra's objective is to build sustainable/responsible mining opportunities with the local communities, so that everyone can benefit from it. All are welcome to attend the town hall meeting."

On September 09, 2024, Gold Terra Resource Corp. has extended its four-year definitive option agreement with Newmont Canada FN Holdings ULC and Miramar Northern Mining Ltd. (MNML), both wholly owned subsidiaries of Newmont Corp., to a six-year agreement which grants Gold Terra the option, upon meeting certain minimum requirements, to purchase MNML from Newmont FN, which includes 100 per cent of all the assets, mineral leases, Crown mineral claims and surface rights comprising the Con mine, as well as the areas immediately adjacent to the Con mine.

Gerald Panneton, chairman and chief executive officer of Gold Terra, commented: "We are pleased with our continued excellent relationship with Newmont, who is also a shareholder of the company. The extension of the option agreement to acquire 100 per cent of MNML's Con mine allows us to continue with our current drilling program designed to delineate more than 1.5 million ounces in all categories with high-grade ounces along the prolific Campbell shear structure below and around the existing mine workings. Our accomplishments to date include:

• "Contained indicated 109,000 ounces at 7.55 grams per tonne gold and inferred 432,000 ounces at 6.74 g/t Au near surface south of the Con mine in the Yellorex area (refer to Gold Terra Oct. 21, 2022, technical report);
• "Total drilling of 31,947 metres to the end of 2023;
• "Total spending of approximately $10.9-million to the end of 2023;
• "Current 2024 drilling of more than 3,000 metres testing the down plunge of the Campbell shear."

On July 29, 2024, Gold Terra Resource Corp. has outlined its phase 2 deep drilling program designed to continue targeting the prolific Campbell shear (CS} from the recently completed master hole GTCM24-056 on the Con mine option (CMO) property. Hole GTCM24-056 was drilled to a depth of 3,002 metres and will serve as a master hole from which to branch off with as many wedges as possible to evaluate the CS in a first phase of drilling from 600 metres to 700 metres below the current Robertson shaft depth, updip and laterally. The branching-off wedge drilling strategy from the same master hole will allow for the evaluation of the CS with substantial benefits rather than drilling holes from surface.

Chairman and chief executive officer Gerald Panneton commented: "We have successfully completed hole GTCM24-056 to a depth of 3,002 metres with no damage to the master hole. Our strategy remains unchanged to branch off the master hole with wedges to reach the CS with shorter holes than from surface. The wedge holes will open a large underexplored area downplunge from the prolific CS that is 600 metres to 800 metres below the existing infrastructure and will eventually add high-grade ounces to our next MRE (mineral resource estimate). The completion of this deep master hole GTCM24-056 to 3,000 metres was a great achievement of our team and of the Foraco team of drilling operators.”

On June 10, 2024, All matters submitted to Gold Terra Resource Corp.'s shareholders for approval as set out in the company's notice of meeting and information circular which were mailed to shareholders in connection with the meeting were approved at the company's annual general and special meeting held in Vancouver, B.C., on June 6, 2024.

The shareholders elected Gerald Panneton (Chair), Patsie Ducharme, Laurie Gaborit, Paul Bonneville and Hellen Siwanowicz as directors of the Company for the forthcoming year.

Shareholders approved the reappointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as the auditor of the Company for the ensuing year with their remuneration to be fixed by the board of directors.

On May 22, 2024, Gold Terra Resources Corp. announced that the drill hole GTCM24-056, targeting the Campbell shear (past production of 5.1 million ounces at 16 grams per tonne; refer to the Oct. 21, 2022, technical report) on Gold Terra Resource Corp.'s Con mine option property (CMO), is progressing well at a current depth of 2,265 metres. The drilling is estimated to intersect the Campbell shear (CS) target at an approximate downhole depth of 2,600 metres, or approximately 600 metres below the historic Con mine underground workings. The CMO Property is under option from a subsidiary of Newmont Corporation and is 100% acquirable by the Company upon fulfillment of certain conditions set out in the CMO Property Option agreement, as reported in the Company's news release dated November 22, 2021 .

Chairman and CEO, Gerald Panneton, commented, "We are very pleased with the excellent progress of Hole GTCM24-056. The CS target has a strike length of at least 1-kilometre, and the hole target of 600 metres below the Con Mine Robertson shaft (1900 metres depth) will open a large under-explored area to add high grade ounces. Once the hole is completed, we will follow up with a strategy of selective wedge holes off this master hole GTCM24-056 as this is a cost-effective way to test the extension of the CS zone mineralization."

On April 22, 2024, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on April 10, 2024.

Number of shares: 50 million shares

Purchase price: five cents per share

Number of placees: 50 placees

Total existing insider involvement: 240,000 (one insider)

Total pro group involvement: 4.7 million (nine pro groups)

On April 19, 2024, Gold Terra Resource Corp. has closed the non-brokered private placement announced on April 10, 2024, with Eric Sprott as the lead investor for gross proceeds of $2.5-million from the sale of 50 million common shares of the company at a price of five cents per common share.

The net proceeds from the offering will be used for general corporate purposes and for the drilling program already in progress on the Campbell shear target below the underground workings on the Con mine option property, under option from a subsidiary of Newmont Corp.

On April 17, 2024, Gold Terra Resource Corp.'s deep drill hole GTCM24-056, which started in early February targeting the Campbell shear (past production of 5.1 million ounces at 16 grams per tonne) at depth below the Con mine workings, has intersected the Con shear from 1,366 metres to 1,405 metres, a secondary shear structure with a past production of one million ounces at 20 grams per tonne gold (refer to the Oct. 21, 2022, technical report). In addition, the hole has uncovered new gold mineralization ranging up to 13.90 g/t Au over 0.60 metres in the hanging wall granite host of the Con shear at multiple downhole depths (478.30 to 546 metres & at 748 metres).

Chairman and CEO, Gerald Panneton, commented, "Hole GTCM24-056 is now progressing well on its way to intersecting our prime target, the Campbell Shear, which produced 5.1 million ounces of gold at an average grade of 16 g/t. The Con shear intersection and the gold bearing quartz veining in the granite higher up in GTCM24-056 confirm the untested endowment of gold in this hanging wall area. The under-explored Campbell Shear and subsidiary shear zones such as the Con shear illustrate the large potential to find multiple gold deposits in gold camps such as Timmins, Red Lake, Cadillac/Larder Lake and Val d'Or, and as in these most prolific and highest-grade gold camps, that component is what attracted Gold Terra to explore this highly potential area."

April 10, 2024, Gold Terra Resource Corp. has arranged a non-brokered private placement with Eric Sprott as the lead investor. The offering consists of 50 million common shares of the company at a price of five cents per share for gross proceeds of $2.5-million.

The offering is non-brokered with no warrants and the company will pay finders' fees of 6 per cent to eligible parties in accordance with applicable securities laws and TSX Venture Exchange policies. The offering is expected to be closed on or around April 19, 2024.

The net proceeds from the offering will be used for general corporate purposes and for the drilling program already in progress on the Campbell shear target below the underground workings at the Con mine option property, under option from a subsidiary of Newmont Corp.

February 7, 2024, Gold Terra is Starting a Second Deep Drill Hole below the High-Grade Campbell Shear Gold Deposit, Con Mine Option Property, NWT

https://goldterracorp.com/news/gold-terra-is-starting-a-second-deep-drill-hole-be-7799/

January 25, 2024, Gold Terra has Resumed Its 2024 Deep Drilling Program Below the High-Grade Con Deposit, Con Mine Option Property, NWT

https://goldterracorp.com/news/gold-terra-has-resumed-its-2024-deep-drilling-prog-7575/

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