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 drilling to expand its gold mineral resources in Yellowknife, NWT, Canada.

The Yellowknife Project (YP) encompasses 918 sq. km of contiguous land immediately north, south and east of the 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 YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople.

Gold Terra is currently focusing its drilling on the prolific Campbell Shear (CS), where approximately 14 million ounces of gold (grading 16-22 g/t) has been produced (refer to Gold Terra Oct 21, 2022, Technical Report), and most recently on the Con Mine Option (CMO) property claims immediately south of the past-producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).

The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts 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 which reinforces the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

A Golden Investment Opportunity at < $10 /oz

• Safe Canadian Jurisdiction with Mining friendly Infrastructure and Green Power
• Con Mine Option / Brownfield Project with existing Mining Lease
• DISTRICT SCALE with land position (over 910 sq km) covering 70 kilometers of the High-Grade Campbell Shear (14 Moz produced)
• Current deep drilling proves the extension of high-grade Campbell Shear mineralization 200m below the Con Mine workings where hole GTCM23-055 returned 12.73 g/t Au over 1.7m within 2.9 g/t Au over 8.2m
• Controls one of six largest high-grade mining camps in Canada
• Large unexplored Archean greenstone belt over the last few years could yield multiple discoveries near town (DDH 22-14: 31 g/t over 3m)
• Experienced mine building management (Barrick / Detour Gold)
• 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
• Upcoming Catalysts:
• Updated Mineral Resource Estimate (MRE) after current programs
• Deep Drilling Target below Con Mine Underground Workings
• Followed up by Preliminary Economic Assessment (PEA)

EXPLORATION

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 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

Combined 1.8-Million Ounces Discovered on 918 sq. km Land Package:

• The Con Mine Option Property initial September 2022 Mineral Resource Estimate includes three near surface gold deposits – Yellorex Main, Yellorex North, and Kam Point:
• Underground Indicated 0.45 million tonnes averaging 7.55 g/t Au for 109,000 ounces of contained gold
• Underground Inferred of 2.0 million tonnes averaging 6.74 g/t Au for 432,000 ounces of contained gold
• March 2021 Mineral Resource Estimate of 1,207,000 inferred ounces on the Yellowknife Project, in 4 satellite deposits with Crestaurum open pit @ 6 g/t Au
• 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

New High-Grade Zones – Mispickel Area – North Belt

• 19 holes for total of 6,011 metres completed in 2022 (Not included in the last 2022 MRE)
• 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

Deep Drilling

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.

The objective of the 2025 wedge hole drilling program is to continue testing for high-grade gold in the Campbell Shear (CS) on the Con Mine below the historic Con Mine underground workings.

Achieving the + 2 Moz Threshold

• Drilling the Campbell Shear on the Con Mine Option Property:
• Surface to -700m depth south of the C1 shaft access
• At depth below the Robertson shaft (-1900m to -2600m) using master hole GTCM24-056 to wedge and test the 1-2 Moz potential window

On February 27, 2025, Gold Terra reported that the 2025 control drilling is progressing well on the Con Mine Option (CMO) Property. The first steel wedge hole GTCM25-056A, designed to target the prolific Campbell Shear (CS) from master hole GTCM24-056, was set at 1,950 metres downhole and has now reached approximately 2,162 metres depth in mafic volcanics. It is anticipated to intersect the CS at approximately 2,600 metres downhole and approximately 600 metres below the underground mine workings.

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 January 23, 2026, Gold Terra Resource Corp. announced the appointment of Todd Burlingame as Chief Development Officer ("CDO") to oversee the Company's direction towards development of our Yellowknife assets, including all stakeholder relationships, permitting strategy, and all other impending policies and plans on the future growth of the Company in Yellowknife.

Todd Burlingame brings extensive experience, leadership, and widespread familiarity with the NWT to this role. Todd is the Principal and Founder of Kee Scarp Ltd., a resource development company founded in 1996 that de-risks and advances large scale projects by restructuring organizations, building teams, participating in financing initiatives, meeting project milestones, securing approvals and negotiating benefits agreements with indigenous groups.

Chairman and CEO, Gerald Panneton, commented, "We welcome Todd's experience in joining the Gold Terra team. As we move closer into the next chapter of our Yellowknife gold discovery story, Todd's experience in senior management, and his extensive familiarity with the NWT regulatory environment, will be key in the very near future. He will be a great asset to the Company as we continue to advance our drilling, engineering, permitting on our advanced gold targets at the Con Mine and our other satellite deposits just 20 kilometers north of Town. As we build our future in Yellowknife with all the local stakeholders, Todd will be there, and available in Yellowknife, as we move our project forward towards development."

On January 06, 2026, Gold Terra Resource Corp. has commenced its winter 2026 diamond drilling program on the Yellowknife project in the Northwest Territories. The program will utilize four diamond drill rigs and is focused on advancing priority targets within the Con mine area and the Northbelt.

2026 winter drill program highlights: Initial drilling will target the Con mine area, with the objective of expanding and upgrading mineralization within the Yellorex zone, located along the Campbell shear south of the historic Con mine. Additional drilling will test nearby targets along the Campbell shear corridor between Yellorex and the Con mine.

Drilling within the Northbelt is expected to commence later in January, following sufficient ice development. Northbelt drilling will primarily target high-grade gold areas such as where hole GTWL22-0014, which returned 31.89 grams per tonne gold over three metres, including 69.4 g/t Au over one metre (see the Aug. 25, 2022, press release), was intersected near surface in the Mispickel area. The winter 2026 program is designed to advance known high-grade mineralized zones, test new targets and support future resource growth just north of the town of Yellowknife.

On December 17, 2025, Gold Terra Resource Corp. has outlined the company's key achievements from the past year as it looks ahead to numerous catalysts in 2026. Over the past 12 months, Gold Terra has delivered a series of strategic advancements across exploration, financing and key strategic investor support. These strategic steps include the confirmation of the Campbell shear gold potential at depth on the Con mine option property, the identification of new 2026 drilling targets with the potential to increase the company's current mineral resource estimates, and solid financing support from new and continuing shareholders.

Chairman and chief executive officer Gerald Panneton commented: "Gold Terra has had a very good transitional year with both technical and corporate achievements that bring value to our shareholders. We cannot ignore the 2025 gold market performance of the last few months to support our exploration effort in Yellowknife. We are also very confident that 2026 will bring more successes as we intend to have more than 15,000 metres of drilling planned in the first half of 2026 that is fully funded. We thank all our shareholders for their continued support, our employees and most importantly all our community stakeholders for their continued support.

Significant highlights of 2025:

• Confirmation of the Campbell shear at depth, below the existing underground workings, adding significant potential to add ounces;
• OR Royalties elected to early exercise its first option on the 2015 royalty agreement for a cash consideration of $2-million, confirming support for the Yellowknife region;
• $7-million successful financing in November (read the Nov. 28, 2025, news release) with three major and strategic investors, Eric Sprott, David Harquail and Mckenzie Funds;
• Receipt of two government mineral incentive grants of $257,560 for winter 2026 drilling. 2026 leadership vision : As the market environment for gold strengthens, Gold Terra is executing its vision to re-establish the Yellowknife as a premier gold mining district in Canada.

"This last year has been pivotal for Gold Terra as we are entering a new phase and a clear path forward to create value for our shareholders and a solid future for the community of Yellowknife," said Mr. Panneton. "We look forward to providing regular updates to our shareholders and investors as major developments unfold in our 2026 exploration and drilling program."

On December 01, 2025, Gold Terra Resource Corp. was completed the private placement.

Financing type: non-brokered private placement

Gross proceeds: $7-million

Offering: 35 million charity flow-through listed shares; 15 million non-flow-through listed shares; five million flow-through listed shares

Offering price: 14 cents per flow-through listed share; 10 cents per non-flow-through listed share; 12 cents per additional flow-through listed share

Disclosure: Refer to the company's news releases dated Nov. 12, 2025, Nov. 17, 2025, and Nov. 28, 2025.

On November 28, 2025, 2176423 Ontario Ltd., a corporation beneficially owned by Eric Sprott, acquired 20 million common shares of Gold Terra Resource Corp. today at 10 cents per share for total consideration of $2-million. A total of five million shares were purchased through a private placement, and 15 million shares were purchased by way of a share purchase agreement concurrent with such private placement.

Prior to the acquisition, Mr. Sprott beneficially owned and controlled 30 million shares, representing approximately 7.3 per cent of the outstanding shares. Mr. Sprott now beneficially owns and controls 50 million shares, representing approximately 10.7 per cent of the outstanding shares, being an increase in holdings to above 10 per cent and, therefore, the filing of an early warning report was required.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

On November 28, 2025, Further to the news release of Nov. 17, 2025, Gold Terra Resource Corp. has closed the oversubscribed non-brokered private placement for total gross proceeds of $7-million through the issuance of 15 million common shares of the company at an issue price of 10 cents per share for gross proceeds of $1.5-million, 35 million charitable flow-through common shares of the company at an issue price of 14 cents per CFT share for gross proceeds of $4.9-million and five million flow-through common shares of the company at an issue price of 12 cents per FT share for gross proceeds of $600,000 with some existing shareholders and insiders. The CFT shares and the FT shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The company will use an amount equal to the gross proceeds from the sale of the CFT shares and the FT shares to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the tax act on or before Dec. 31, 2026, and will renounce all the qualifying expenditures in favour of the subscribers of the CFT shares and the FT shares, effective Dec. 31, 2025. The company will use the net proceeds from the sale of the shares for general corporate purposes and for the coming drilling program.

On November 17, 2025, Gold Terra Resource Corp.'s previously announced non-brokered private placement (see news release dated Nov. 12, 2025) has received strong investor demand of more than 40 per cent and will be oversubscribed by 10 per cent for total gross proceeds of $7-million. The company was originally contemplating issuing an aggregate of 50 million common shares, however, it will now be issuing 55 million common shares, consisting of 15 million common shares of the company at an issue price of 10 cents per share for gross proceeds of $1.5-million, 35 million charitable flow-through (CFT) common shares of the company at an issue price of 14 cents per CFT share for gross proceeds of $4.9-million and five million flow-through common shares of the company at an issue price of 12 cents per FT share for gross proceeds of $600,000 with some existing shareholders and insiders. The CFT shares and the FT shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The company will use an amount equal to the gross proceeds received by the company from the sale of the CFT shares and the FT shares to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the tax act on or before Dec. 31, 2026, and will renounce all the qualifying expenditures in favour of the subscribers of the CFT shares and the FT shares effective Dec. 31, 2025.

On November 12, 2025, Gold Terra Resource Corp. has arranged a non-brokered private placement with a new strategic investor, David Harquail, and existing shareholder Eric Sprott. The private placement totalling 50 million common shares consists of 15 million common shares of the company at an issue price of 10 cents per share for gross proceeds of $1.5-million, 30 million charitable flow-through common shares of the company (the CFT shares) at an issue price of 14 cents per CFT share for gross proceeds of $4.2-million, and five million flow-through common shares of the company (the FT shares) at an issue price of 12 cents per FT share for gross proceeds of $600,000 with some existing shareholders and insiders. The CFT shares and the FT shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

Gerald Panneton, chairman and chief executive officer, commented: "We are pleased to have this strategic investment and endorsement from David Harquail and Eric Sprott. The Con mine property represents a corner stone of our strategy in redeveloping Yellowknife in a premier gold camp. The proceeds raised will allow us to continue our drilling program on the Con mine option property. The former Con mine produced 5.1 Moz of gold at an average grade of 16 g/t (Oct. 21, 2022, technical report) and was historically one of the richest high-grade gold mines in Canada."

The net proceeds from the shares will be used for general corporate purposes and for the drilling program scheduled to start in January, 2026, on the southern extension of the Campbell shear (CS) target between surface and 600 metres below surface, on the Con mine option (CMO) property. Under the CMO agreement, the company has the right to acquire 100 per cent of the CMO property from a subsidiary of Newmont Corp., subject to the fulfilment of certain conditions set out in the agreement, as reported in the company's news release dated Nov. 22, 2021. Gold Terra's option on the CMO with Newmont is until Nov. 21, 2027, supporting continuing CS drilling and potential resource growth.

On October 27, 2025, Gold Terra Resource Corp. has provided an update on the 2025 to 2026 drill program targets along the past-producing Campbell shear (CS) in the Yellorex trend south of the historic Con mine. The Yellorex trend drilling targets are where the company has already outlined a mineral resource estimate (MRE) in 2022 (see Note 1 further in this press release), and where there is potential for additional ounces to be added between surface and 700 metres depth.

Under the Con mine option (CMO) agreement, the company has the right to acquire 100 per cent of the CMO property from a subsidiary of Newmont Corp., subject to the fulfilment of certain conditions set out in the agreement, as reported in the company's news release dated Nov. 22, 2021. Gold Terra's option on the CMO with Newmont is until Nov. 21, 2027.

Chairman and chief executive officer Gerald Panneton commented: "We are finalizing our near-surface drilling targets along the Campbell shear, and we will focus our drilling program along the CS south of the Con mine. We recently completed our valuation of near-surface targets in the area where we have outlined the potential for more resources within the area of our 2022 MRE at a possible average grade of six g/t using a lower cut-off grade (COG). With the price of gold reaching over $4,000 (U.S.), it opens the area to add ounces between Yellorex main and for at least two kilometres of strike length. Gold Terra's 100-per-cent land tenure covers more than 70 kilometres of strike length of the Campbell shear in a past-producing high-grade gold belt in Canada."

Oct. 06, 2025, Gold Terra Resource Corp. announced that Chairman and CEO, Gerald Panneton, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on October 7th, 2025

Recent Company Highlights and Strategy

Gold Terra is exploring the Campbell Shear (CS) structure (14 Moz @ 16-22 g/t produced – see Gold Terra Oct 21, 2022, Technical Report) in Yellowknife.

Focus is on the Con Mine property optioned from Newmont.

Drilling to expand the current 2022 Mineral Resource Estimate (MRE).

The upcoming Fall – Winter 2025-26 drilling program is scheduled to start shortly.

Three areas of drilling will be tested:

Confirming the Northern Extension of the CS historical resources,

CS drilling south of the mine around the 2022 MRE,

Northbelt / Walsh Lake CS winter drilling.

On September 26, 2025, Gold Terra Resource Corp. announced that the company has completed its review of the Con Mine 2002 historical resources of 650,000 ounces of gold at between 11-12 g/t dated January 1st 2003 (see Note 1 further in this news release). Based on the review, selected priority targets have been established for the upcoming drilling program scheduled to start before year end 2025 that will focus on the past producing Campbell Shear ("CS") structure. The goal of this drilling program is to confirm portions of the historical resources and investigate additional potential resources at lower cut-off grades, reflecting the current higher gold prices of today. This confirmation drilling could contribute to further increases to the current resource base of the Company prior to proceeding with economic studies.

Gold Terra has identified numerous historical targets within the Con Mine underground infrastructure between 500 metres to 1000 metres below surface. The Con Mine produced a total of 6.1 Moz between 1938 and 2003 and closed at a time when gold price averaged US$ 340 per ounce and while using a cut-off grade (COG) of 10 g/t Au (Refer to the Oct. 21, 2022 Technical Report).

The proposed plan is to:

• Drill at 100 metres spacing to confirm the underground historical drill results which extend for more than 1 kilometer north of the Con Mine.
• Test three (3) other areas between 800 metres vertical to 1400 metres within the Con Mine main ore body that weren't mined historically.
• Test and In-fill drill in the Con Mine south area where the Company has already outlined a NI43-101 resource on the Yellorex and Yellorex North deposits (See Note 2 further in the press release- Mineral Resource Estimate (MRE) dated September 2022). This drilling is intended to bring this area up to a Drill Indicated confidence level and increase the size of the Yellorex and Yellorex North zones which remained open along strike and plunge following the October 2022 NI43-101 mineral resource estimate.

Chairman and CEO, Gerald Panneton, commented, "In this current gold price environment, we have reviewed over the summer many additional targets at the Con Mine well within reach of existing underground infrastructure. With gold price now well above US$3700/oz; this is a game changer. We have 100% access to a district-scale prospective land position ― one of the largest past-producing high-grade gold belts in Canada along the prolific Campbell Shear. Over the last few months, we have re-evaluated our options and are excited to start this drilling program which targets shallower gold mineralization along the past producing CS structure."

On September 04, 2025, Gold Terra Resource Corp. provided an update on our 2025-2026 drilling strategy along the past producing Campbell Shear (CS) with an objective to delineate additional potential gold mineralized zones.

Con Mine Option (CMO) Focus

The 2025-2026 exploration program includes:

• An evaluation of the year-end 2002 historical resources (650,000 ounces @11-12 g/t 3 (See further in this press release)) between surface and the current depth of the Robertson shaft (-1,900 metres) at a different Cut-Off Grade (COG).
• This evaluation will provide drill targets in an area where the historical resource was left behind unmined during a low gold price environment (2002) of US$340 per ounce of gold.
• Preparation of drill holes targets in the Yellorex trend of the CS where the Company has already outlined a Mineral Resources Estimates (MRE) in 20222 (See further in this press release), and where additional ounces have the potential to be added between surface and 700 metre depth.
• The Company has also received two Government (GNWT) Mineral Incentives grants totaling $257,560 for the Con Mine drilling and for the Walsh Lake area north of Yellowknife.
• A Mineral Resource Estimate (MRE) followed by Preliminary Economic Assessment (PEA) after completion of the drill program.

Chairman and CEO, Gerald Panneton, commented, "When we signed the 100% purchase option of the Con Mine in November 2021, the gold price was hovering between US$1600 and 1750 per ounce. As we have entered a new gold momentum window with the gold price sitting well above US$3500, this is a game changer. Our CMO and current district scale land holdings have tremendous exploration potential to add additional ounces to our current mineral resources. Gold Terra has 100% access to one of the largest past-producing high-grade gold belts in Canada along the prolific Campbell Shear. Over the last few months, we have been preparing our drilling targets along the Campbell Shear, and we look forward to executing our next program."

On June 10, 2025, All matters submitted to the shareholders for approval as set out in Gold Terra Resource Corp.'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 4, 2025.

The shareholders elected Gerald Panneton (chair), Paul Bonneville, Patsie Ducharme, Laurie Gaborit 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 its remuneration to be fixed by the board of directors.

Shareholders also approved the company's 10-per-cent rolling stock option plan. Currently, there is only less than 25 per cent of the plan (or less than 10 million stock option) being used to attract and keep talented employees and consultants. The company stock option plan does not have any option pricing below 10 cents.

On May 26, 2025, Gold Terra Resource Corp.'s wedge hole GTCM25-056A intersected anomalous gold in the Campbell shear (CS) from 2,680.5 to 2,703.5 metres down hole depth on the Con mine option (CMO) property. The results are very encouraging, confirming the existence of the CS more than 600 metres below the mine. The CS intersection is gold and silver anomalous (up to 0.5 gram per tonne Au (gold) and 12.6 g/t Ag (silver)), which the company views as comparable with historical low-grade intersections in the mine that were outside the previous mined high-grade shoots.

In addition, higher-grade gold values (7.81 g/t Au over 0.5 metre) were intersected in the footwall of the CS within brecciated pyrite-pyrrhotite quartz veins, identical to the lowest levels of the mine. The CS was initially intersected at depth in hole GTCM23-055, with 12.63 g/t Au over 1.7 m (refer to Nov. 15, 2023, news release), 200 metres below the existing historic underground workings.

Chairman and chief executive officer Gerald Panneton commented: "Hole GTCM25-056A confirms the gold potential of the CS at more than 600 metres below the current depth of the historic Robertson shaft (negative 1,900 metres). The gold and silver anomalous CS intersection of 23 metres is typical of a pinch section of the usual wider or swelling altered CS. With this technical success and confirmation of the CS potential at depth, we can pause the deep drilling and focus on our targets near surface. As such, there is no need to spend more money from surface, as the CS potential is confirmed."

On May 12, 2025, Gold Terra Resource Corp. announced it has closed the second and final tranche of a non-brokered financing raising a total of C$2,400,000 consisting of hard dollar and charitable flow-through (together the "Financing"). Under the Financing, the Company has issued 20,000,000 common shares of the Company (the "Shares") at an issue price of $0.05 per Share for gross proceeds of C$1,000,000 and 20,000,000 charitable flow-through common shares of the Company (the "CFT Shares") at an issue price of $0.07 per CFT Share for gross proceeds of C$1,400,000 charitable flow-through. The CFT Shares will qualify as "flow-through" shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).

In addition to the closing of the Financing at C$2,000,000 or more, Osisko Gold Royalties Ltd has elected to early exercise the first tranche of its royalty option for a 2% NSR royalty on Gold Terra's Yellowknife Property in exchange for a cash payment of C$2,000,000. This will give Gold Terra a cash balance of C$4,400,000 less some finders' fees.

Gerald Panneton, Chairman & CEO commented, "We are very pleased to have raised $C2.4 million with an additional C$2 million from Osisko Gold Royalty who has elected to early exercise its first 2% NSR concurrent with this financing. We thank our main existing shareholders, Mackenzie Fund, Eric Sprott, and Ingalls Snyder and many others for their continued support on our strategy of advancing our high-grade gold assets in the Northwest Territories towards potential production. The C$4.4 million raised will allow us to continue our drilling program on the Con Mine Option property. The former Con Mine produced 5.1 Moz of gold at an average grade of 16 g/t in the Campbell Shear alone and was historically one of the richest high-grade gold mines in Canada (refer to Miramar Mining Corp. Ltd. Annual Reports. 1993-2003. Miramar Mining Corp. Ltd., 2003)."

April 25, 2025, Gold Terra Resource Corp. reported that the first wedge hole GTCM25-056A, has intersected the Campbell Shear (CS) from approximately 2,665 to 2,707 metres downhole (vertical depth of 2,560 metres below surface), with the best visual mineralization concentrated between 2,689.30 and 2,707 metres downhole (as shown in photos 1 and 2 further below) on the Con Mine Option Property (CMO). Wedge hole GTCM25-056A was stopped at 2,837 metres downhole in volcanic rocks. Core samples have been sent to the lab and assays are pending. The program is continuing with a lateral wedge hole (GTCM25-056B)100 metres north at the same target elevation.

In other news, the Company received an acknowledgement notice from Newmont Canada FN Holdings ULC that the Company has satisfied the requirement to incur an aggregate amount of C$8,000,000 (unaudited) in Qualifying Expenditures in Exploration Work on the Con Mine Option property pursuant to the Con Mine Option agreement.

Chairman and CEO, Gerald Panneton, commented, "We are very excited to have intersected the CS around 2,665 metres downhole or approximately 600 metres below the current depth of the historic Robertson Shaft. This intersection proves our model which show the high potential for the CS continuation at depth down plunge from a 5.1 Moz deposit @ 16 g/t Au which was mined historically at a rate of approximately 1 M

On April 11, 2025, Gold Terra Resource Corp. has closed the first tranche of a non-brokered financing as previously announced on March 31, 2025, for total gross proceeds of $1,843,000. Under the first tranche, the company issued 15.86 million common shares of the company at an issue price of five cents per share for gross proceeds of $793,000 and 15 million charitable flow-through common shares of the company at an issue price of seven cents per CFT share for gross proceeds of $1.05-million charitable flow-through. The CFT shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)).

Gross proceeds from this financing will be used by the company primarily to continue the drilling program on the Con mine option property and for general working capital purposes.

In addition to the closing of the financing at $2-million or more, Osisko Gold Royalties Ltd. has elected to early exercise the first tranche of its royalty option for a 2-per-cent net smelter return royalty on Gold Terra's Yellowknife property in exchange for a cash payment of $2-million.

On March 31, 2025, Gold Terra Resource Corp. has arranged a non-brokered financing of $2.4-million consisting of hard-dollar and charitable flow-through securities. The company expects to raise gross proceeds of $1-million from the issuance of 20 million common shares of the company at an issue price of five cents per share, and gross proceeds of $1.4-million from the issuance of 20 million charitable flow-through common shares of the company at an issue price of seven cents per CFT share. The CFT shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)).

In addition to the closing of the financing of $2.4-million, Osisko Gold Royalties Ltd. has elected to early exercise the first tranche of its royalty option for a 2-per-cent net smelter return royalty on Gold Terra's Yellowknife property in exchange for a cash payment of $2-million. Gold Terra's cash balance will then increase to $4.4-million less finders' fees.

The financing is expected to close on or about April 11, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the acceptance of the TSX Venture Exchange.

Gerald Panneton, chairman and chief executive officer, commented: "We are pleased to offer this opportunity to investors to participate in this proposed financing for a total of $2.4-million and thank the continued support of existing shareholders such as Eric Sprott and Ingalls Snyder, and many others. Moreover, concurrent with this financing, the decision by Osisko Gold Royalties to early exercise its first 2-per-cent NSR is a huge endorsement of our strategy of advancing our high-grade gold assets in the Northwest Territories towards potential production. The proceeds raised will allow us to continue our drilling program on the Con Mine option property. The former Con mine produced 5.1 Moz of gold at an average grade of 16 g/t and was historically one of the richest high-grade gold mines in Canada."

February 27, 2025, Gold Terra Wedge Drilling Progressing Well at High-Grade Gold target, Campbell Shear, Con Mine Option Property, NWT

https://goldterracorp.com/news/gold-terra-wedge-drilling-progressing-well-at-high-9967/

January 17, 2025, Gold Terra Announces Participation at Vancouver Resource Investment Conference, Booth 316, and Grants Stock Options

https://goldterracorp.com/news/gold-terra-announces-participation-at-vancouver-re-9884/

January 10, 2025, Gold Terra Announces Start of 2025 Drilling Program Targeting High-Grade Gold in the Campbell Shear, Con Mine Option Property, NWT

https://goldterracorp.com/news/gold-terra-announces-start-of-2025-drilling-progra-9865/

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