Gold Terra Announces Closing of First Tranche of C$10.8M LIFE Offering With Strong Participation From Strategic Shareholder David Harquail

Gold Terra Resource Corp. (YGT) has closed the first tranche of its non-brokered private placement under the Listed Issuer Financing Exemption (LIFE), raising C$10,800,000 in gross proceeds. The offering comprises common shares, charity flow-through shares, and flow-through shares issued at prices ranging from C$0.18 to C$0.25 per share. No warrants were attached to the offering.

Net proceeds are designated for general corporate purposes and two concurrent drilling programs scheduled to begin in July/August 2026. These programs will target the northern extension of the Campbell Shear (Zone 103 N) and test historical on-site tailings at the Con Mine. The company aims to expand its Mineral Resource Estimate, released on May 15, 2026, and deliver a Preliminary Economic Assessment (PEA) by the end of 2026.

Flow-through terms require eligible Canadian exploration expenses to be incurred by December 31, 2027, with renunciation effective December 31, 2026. Strategic shareholder David Harquail participated significantly in the transaction, and insiders purchased 450,000 shares. A second tranche is expected to close around July 31, 2026.

Gold Terra Resource Corp. (YGT) closed the first tranche of its financing, a move fully consistent with the upsized capital raise announced on July 7, 2026. The timeline and pricing aligned with market expectations, with no unexpected terms, pricing discounts, or structural changes. The capital raise directly funds the company’s planned 2026 drilling program, which management has identified as a key catalyst.

Participation from David Harquail reinforces prior strategic backing but does not represent a new or first-time investment. The offering structure includes flow-through and common share issuance, which remains dilutive, though the absence of warrants reduces immediate dilution concerns compared to brokered deals. The transaction provides necessary liquidity for near-term exploration.

Gold Terra Resource Corp. is a junior gold explorer focused on the Yellowknife Project in the Northwest Territories, Canada. Its flagship asset is the Con Mine Option Property, held under an option from a Newmont Corporation subsidiary that grants the right to acquire 100% of the property until November 21, 2027.

The project encompasses 836 square kilometres along the prolific Campbell Shear structure, which historically produced approximately 14 million ounces of gold. The historic Con Mine produced 6.1 million ounces between 1938 and 2003. Current exploration focuses on the Yellorex Zone, Zone 103 N, and the reprocessing of historical tailings to recover residual gold. The company has spent approximately C$19 million on drilling to date and is advancing toward a Preliminary Economic Assessment.