Gold Terra Announces Drill Targets Near Surface Along the Campbell Shear South of the Con Mine, Yellowknife, NWT

The most recent news release (October 27, 2025) states that Gold Terra is finalizing near-surface drilling targets along the Campbell Shear, specifically in the Yellorex Trend south of the historic Con Mine, Yellowknife, NWT. The company aims to focus its 2025-2026 drill program on these areas, targeting potential additional resources between surface and 700 metres depth. Management believes there is potential for an average grade of 6 g/t using a lower cut-off grade, citing the current gold price exceeding US$4000/oz as an enabler for this strategy. This approach is expected to add ounces over at least a 2-kilometre strike length. Gold Terra's land tenure covers over 70 kilometres of the Campbell Shear. The company also reiterates its option to acquire 100% of the CMO property from a Newmont Corporation subsidiary, with the option expiring on November 21, 2027.

The news is a routine positive update on Gold Terra's exploration strategy. It formalizes the shift in focus towards near-surface targets, a logical progression from previous deep drilling that confirmed the Campbell Shear's continuity at depth but was deemed uneconomical to pursue from surface at this stage (May 26, 2025 news). The emphasis on near-surface targets with a lower cut-off grade, supported by the rising gold price (now cited at over US$4000, up from US$3700 in September 2025), is a prudent strategic move. This could lead to a more readily accessible and potentially economic resource expansion, which aligns with the stated goal of updating the 2022 Mineral Resource Estimate (MRE) and conducting a Preliminary Economic Assessment (PEA).

Historically, the company has successfully raised capital (e.g., $4.4 million in May 2025) and advanced its drilling programs. The confirmation of the Campbell Shear at 2,580 metres depth (April 25, 2025; May 26, 2025 news) was a significant technical achievement, de-risking the long-term potential, but the current pivot to shallower targets is more immediately actionable for resource growth. The previous deep drilling produced anomalous gold in the main shear, with higher grades in footwall veins, confirming the style of mineralization but not yet proving deep economic viability from surface. Focusing on near-surface targets where historical data and existing resources (like the Yellorex trend) indicate potential for additional ounces at respectable grades (6 g/t average cited) is a sensible next step in proving out the project's economics. The consistency in messaging from management across recent news releases (Sept 4, Sept 26, Oct 6, 2025) regarding this strategic shift indicates a clear and sustained direction. The company's immediate need for capital was addressed by the May 2025 financing, but a high burn rate could necessitate further financing in the future, especially as they progress towards an updated MRE and PEA.

Gold Terra Resource Corp. (YGT) is a gold exploration company focused on the Yellowknife City Gold Project (YCGP) in the Northwest Territories, Canada. The YCGP comprises a large contiguous land package of 918 square kilometres, immediately north, south, and east of the city of Yellowknife. The project is strategically located in one of Canada's six major high-grade gold camps, within 10 kilometres of Yellowknife, providing access to essential infrastructure including all-season roads, air transportation, service providers, hydroelectric power, and skilled labour.

The company's flagship project is centered on the prolific Campbell Shear structure, which historically produced approximately 14 million ounces of gold at grades of 16 to 22 g/t. A key component of the YCGP is the Con Mine Option (CMO) property, acquired through an option agreement with a subsidiary of Newmont Corporation (expiring November 21, 2027). The historic Con Mine, part of the CMO property, produced 6.1 million ounces of gold (1938-2003) from the Con, Rycon, and Campbell Shear structures, with the Campbell Shear alone accounting for 5.1 Moz at an average grade of 16 g/t.

Gold Terra's objective is to re-establish Yellowknife as a premier gold mining district by delineating significant zones of high-grade gold mineralization. The current strategy involves exploring both deep extensions of the Campbell Shear and, more recently, focusing on near-surface targets to expand the existing Mineral Resource Estimate (MRE) on the CMO property, particularly in areas like the Yellorex trend.

Current Mineral Resource Estimates (as of October 2022, for CMO property): - Indicated: 821,000 tonnes at 7.55 g/t Au for 109,000 contained ounces. - Inferred: 1,992,000 tonnes at 6.74 g/t Au for 432,000 contained ounces. These resources are located between surface and 400 metres depth. The company also has an Inferred MRE of 1,207,000 ounces at its Northbelt property (March 2021), 15 km north of the Con Mine.