Resource Estimate Routine +

Gold Terra Adds 595,000 Inferred Ounces within 5.1 Million Tonnes grading 3.64 g/t Au on the Con Mine Zone 103N in an Updated 2026 Mineral Resource Estimate, Yellowknife, NWT

Gold Terra Resource Corp

By The Northwire Desk — AI Analysis May 15, 2026 · 07:00 YGT · 0.2 Gold Terra Resource Corp.

Executive Summary

Gold Terra Resource Corp released its first phase of the 2026 Mineral Resource Estimate (MRE) on May 15, 2026.
The update focuses on the Yellowknife Project, specifically Yellorex, Zone 103N, and Crestaurum deposits.
Key addition is a new Inferred resource at Zone 103N totaling 595,000 ounces of gold within 5.1 million tonnes grading 3.64 g/t Au.
Total updated resources across all three deposits include an Indicated resource of 729,000 tonnes @ 4.39 g/t Au (103k oz) and an Inferred resource of 7,534,000 tonnes @ 3.69 g/t Au (895k oz).
The estimate incorporates five new drill holes totaling 1,523.2 metres from the winter program.
Methodology used a long-term gold price assumption of US$2,600/oz and an exchange rate of US$/C$ 1.35.
Upcoming catalysts include surface drilling at Zone 103N in June 2026, a second phase MRE update for Fall 2026 incorporating winter results, and a Preliminary Economic Assessment (PEA) anticipated by year-end 2026.

Material Impact

The news is classified as Routine - Positive because the release date was explicitly forecasted in prior communications (May 4, May 8, and May 14 releases).
While the addition of nearly 900,000 ounces to the resource base is significant for a junior explorer, the vast majority are Inferred resources (895k oz vs 103k oz Indicated), which limits immediate economic conversion without further drilling.
The gold price assumption ($2,600/oz) used in the MRE is conservative compared to recent market highs mentioned in historical context (>US$4,000/oz), suggesting potential upside if current prices persist but also highlighting sensitivity to price drops.
The financing raised in November 2025 (C$7 million) was intended to fund this drilling program; the MRE confirms capital deployment is yielding results as planned, validating the investor thesis established by Eric Sprott's entry.
No new strategic investors or major option exercises are disclosed in this specific release, meaning the fundamental ownership structure remains unchanged from the November 2025 financing event.

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Company Overview

Company: Gold Terra Resource Corp (TSX-V: YGT).
Flagship Project: Yellowknife Project, Northwest Territories, Canada.
Core Asset: Con Mine Option Property (CMO), a brownfield opportunity with historic production of 6.1 Moz Au at high grades (15-20 g/t) between 1938 and 2003.
Strategic Position: Holds an option to acquire 100% of the CMO property from a Newmont subsidiary, valid until November 21, 2027.
Geology: Focused on the Campbell Shear structure, which extends for over 70 km and has produced 14 Moz historically.
Management: Led by Gerald Panneton (Chairman & CEO), with experience from Barrick and Detour Gold.

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