Gold Terra Announces C$9.7 Million Life Offering, Including Participation From Strategic Shareholder David Harquail
Gold Terra raised C$9.7 million to fund drilling at its Yellowknife project, doubling down on the Harquail play.
Gold Terra Resource Corp. announced a C$9.7 million non-brokered private placement conducted under the Listed Issuer Financing Exemption. The offering is structured in three tranches: 20,000,000 common shares priced at $0.18, 20,000,000 charity flow-through shares at $0.25, and 5,000,000 flow-through shares at $0.22. Strategic shareholder David Harquail participated in the transaction, and no warrants were attached to the shares.
The company expects the offering to close on or around July 24, 2026, subject to acceptance by the TSX Venture Exchange. Net proceeds will be designated for general corporate purposes and to fund two concurrent drilling programs scheduled for July and August 2026 targeting the Con Mine Option property.
Target 1 aims to confirm and add ounces to the Inferred Mineral Resource of 595,000 ounces within 5.1 million tonnes grading 3.64 g/t gold on the 103N Zone extension. Target 2 tests Upper Pud and Middle Pud historical tailings areas for residual coarse gold. Flow-through expenditures from the charity flow-through and flow-through shares will be renounced to subscribers effective December 31, 2026.
Gold Terra Resource Corp. (YGT) is executing a financing round that serves as a direct follow-up to its November 2025 C$7.0 million private placement. This capital raise aligns with the company’s stated 2026 plan to drill over 15,000 metres. The move addresses a known liquidity need, as Q1 2026 financials show cash declining to $3.42 million from $7.56 million at year-end 2025 due to $3.31 million in exploration expenditures.
The inclusion of David Harquail signals continued insider confidence, though it does not introduce a new strategic partner or fundamentally alter the capital structure. The offering price range of $0.18-$0.25 is consistent with recent trading activity, which saw shares trade between $0.18 and $0.22 in June and July 2026, indicating no significant discount or premium that would distort valuation.
The news is expected and incremental, providing necessary runway for near-term drilling without introducing unexpected catalysts or changing the long-term development timeline.
Gold Terra Resource Corp. (YGT) is a pre-revenue junior explorer focused on the Yellowknife Gold Belt in the Northwest Territories, Canada. Its flagship asset is the Con Mine Option (CMO) Property, which grants the right to acquire 100% ownership from a Newmont subsidiary until November 21, 2027. The property sits on the prolific Campbell Shear, which historically produced over 5 million ounces at high grades of 16-20 g/t Au.
Recent 2026 mineral resource estimates added 595,000 inferred ounces to the 103N zone, bringing total inferred resources to approximately 895,000 ounces across multiple deposits. The company is also exploring the 100% owned Walsh Lake area, which has shown high-grade intercepts and expanded corridors. Strategic focus is shifting toward near-surface targets to conserve capital, with a preliminary economic assessment underway to evaluate economic viability and permitting pathways.