Gold Terra Announces Start of Drilling on the Campbell Shear Northern Zone 103N Extension to Expand 2026 MRE of Inferred 595,000 Ounces, Con Mine, Yellowknife, NWT

Gold Terra Resource Corp. has commenced drilling on Zone 103N, the northern extension of the Campbell Shear within the Con Mine Option (CMO) property. The company also closed the second tranche of its previously announced C$10.8M Listed Issuer Financing Exemption (LIFE) offering, raising C$446,665 through the issuance of 2,481,477 common shares at C$0.18 per share. The final tranche of the offering is expected to close on or around August 20, 2026, subject to TSX-V acceptance.

Net proceeds from the financing are allocated to general corporate purposes and specifically fund the Zone 103N drill program, historical Con Mine tailings drilling, and the Yellorex technical program. Zone 103N currently holds an Inferred Mineral Resource of 595,000 ounces across 5.083 million tonnes grading 3.64 g/t Au, based on a June 2026 technical report. The CMO property option from a Newmont subsidiary remains valid until November 21, 2027.

Gold Terra Resource Corp. (YGT) closed the second tranche of its financing, a routine follow-up to announcements made in July 2026. This move confirms capital deployment but introduces no new valuation drivers or unexpected terms.

Drilling has begun on Zone 103N, aligning with the company’s previously communicated 2026 exploration schedule. This step is incremental toward the targeted Preliminary Economic Assessment (PEA) by year-end 2026.

The market had already priced in the financing and drilling timeline. The news serves as operational confirmation rather than a catalyst, maintaining the project's trajectory without materially altering the risk/reward profile.

Gold Terra Resource Corp. (YGT) is a pre-revenue junior explorer focused on the Yellowknife Project in the Northwest Territories, Canada. Its flagship asset is the Con Mine Option (CMO) property, which is optioned from a Newmont subsidiary until November 2027. The CMO covers the historic Campbell Shear, which saw approximately 14 moz of historical production, as well as the Yellorex zone. Historically, the Con Mine produced 6.1 moz at an average grade of 16-20 g/t Au between 1938 and 2003.

The company also holds 100% ownership of the Walsh Lake Area, where drilling has extended mineralization over a 700-metre strike length. Currently in the exploration and development stage, Gold Terra is targeting a Preliminary Economic Assessment (PEA) by year-end 2026. The company’s stated development timeline aims for a production decision in 2027 and a production start in 2028-2029.