Gold Terra Announces Drill Target Preparation for the Con Mine, Yellowknife, NWT

Executive Summary

• Gold Terra outlines its 2025‑2026 drilling strategy on the historic Campbell Shear (CS) and Con Mine Option (CMO) properties, aiming to delineate additional gold mineralized zones.
• The program will re‑evaluate 2002 historical resources (~650,000 oz at 11‑12 g/t Au) and target new drill holes in the Yellorex trend, with potential resource growth from surface to ~700 m depth.
• The company received two GNWT mineral incentives grants totaling $257,560 to support drilling on the Con Mine and Walsh Lake areas.

Key Details

• Exploration Scope: Evaluation of year‑end 2002 historical resources (650,000 oz @ 11‑12 g/t Au) between surface and the Robertson shaft depth (‑1,900 m) using a different cut‑off grade.
• Target Areas: Preparation of drill holes along the Yellorex trend where a Mineral Resource Estimate (MRE) was reported in 2022; additional targets to be evaluated on the 100% owned Yellowknife Project (currently 1,207,000 inferred oz).
• Government Grants: Two GNWT mineral incentives grants totaling $257,560 for Con Mine and Walsh Lake drilling.
• Option Rights: Under the CMO agreement, Gold Terra may acquire 100 % of the Con Mine property from a Newmont subsidiary, option exercisable until Nov 21 2027, subject to conditions previously disclosed (Nov 22 2021 release).
• Future Deliverables: Completion of the drill program will be followed by an updated Mineral Resource Estimate and a Preliminary Economic Assessment.
• Historical Context: Con Mine historic reserves (650,000 oz at 11‑12 g/t Au) were produced when gold was ~$340/oz; current gold price > $3,500/oz is highlighted as a “game changer.”
• Current Resource Summary (Oct 2022 Technical Report):
• Yellorex Main – Indicated: 821,000 t @ 7.55 g/t Au = 109,000 oz; Inferred: 993,000 t @ 6.89 g/t Au = 220,000 oz
• Yellorex North – Inferred: 463,000 t @ 7.42 g/t Au = 111,000 oz
• Kam Point – Inferred: 536,000 t @ 5.83 g/t Au = 101,000 oz
• Qualified Person Review: Technical information reviewed and approved by Joseph Campbell, Qualified Person (NI 43‑101) and Senior Technical Advisor.

Notable Quotes

“When we signed the 100% purchase option of the Con Mine in November 2021, the gold price was hovering between US$1,600 and $1,750 per ounce. As we have entered a new gold momentum window with the gold price sitting well above US$3,500, this is a game changer.” – Gerald Panneton, Chairman & CEO

Materiality Assessment: Material – Positive (the announcement details a significant exploration program that could materially increase Gold Terra’s resource base and future economic prospects).