Star Metro - Gold Terra Provides Update on Drilling Program Along the Campbell Shear South of the Con Mine, Yellowknife, NWT

Under the Con Mine Option (CMO) purchase agreement, the Company has the right to acquire 100% of the CMO property from a subsidiary of Newmont Corporation ("Newmont"), subject to the fulfillment of certain conditions set out in the agreement, as reported in the Company's news release dated November 22, 2021. Gold Terra's option on the CMO with Newmont is until November 21, 2027.

Chairman and CEO, Gerald Panneton, commented, "Our winter drilling program is progressing well with the objective to add additional ounces to our current mineral resource estimates. The drilling on the Yellorex is targeting areas where there was room to add ounces with not enough drilling, and to increase the number of ounces in the indicated category. With two (2) drill rigs coring on the Con Mine Option, our program is advancing well with more than 2600 metres to date. Gold Terra's 100% land tenure covers more than 70 kilometres of strike length of the past-producing high-grade Campbell Shear in one of Canada's largest historic gold belts."

Drilling Highlights

Four diamond drill rigs are currently active on the Yellowknife Project as shown in Figure 1. A total of ten drill holes has been completed to date, comprising eight holes on the Campbell Shear target south of the Con Mine and two holes at the Mispickel target within the Northbelt area north of the city of Yellowknife.

Figure 1: 2026 Drilling Program on Yellorex area and Mispickel

Yellorex Drilling

Eight drill holes, GTY26-001 - GTY26-008, have been completed on the Campbell Shear (CS) in the Yellorex area as shown in Table 1 below for a total of 2,613.7 metres drilled. These holes are designed to provide information on where there was no drilling information. Drilling is in progress on holes GTY26-009 and GTY26-010.

All Yellorex drill holes intersected the Campbell Shear, characterized by variable strong quartz-ankerite and smoky quartz veining with sericite-dominated alteration. Sericite alteration being the most important feature with gold mineralization in the CS. The CS is represented below as the full envelope with interval of strong mineralization. The mineralization varies from moderate to strong interval of quartz (smoky) and ankerite veining, with the addition of a variable amount of sulphides including pyrite, arsenopyrite, and locally stibnite, sphalerite, and sometime chalcopyrite. The main geological host is meta volcanic.

Table 1 - Yellorex Trend Drill holes

The Yellorex area drilling targets are where the Company has already outlined a Mineral Resource Estimates (MRE) in 2022, and where there is potential for additional ounces to be added between surface and 700 metres depth. The drilling targets are shown in Figures 2 below and include:

• Yellorex Main Zone (YRX) - Holes already drilled on 30-50 metre spacing in 2021-2022 account for more than 65% of the 2022 MRE calculated by Gold Terra

• Yellorex North (YRX-N) was drilled in 2023, and was not included in the Company's 2022 MRE (Refer to Oct. 21, 2022 Technical Report)

• C17 and the 3100' level-part of the Campbell Shear south of the main mine workings, drilled historically from the 2300' and 3100' levels with some historic untested assays reported in the Campbell Shear.

Figure 2 - Composite Long Section showing the location of the 2026 drilling program

Northbelt Drilling

At Northbelt, two drill holes, GTWL26-020 and GTWL26-021, have been completed at the Mispickel target to a depth of 300.7 and 307.7 metres, respectively, testing mineralization associated with the previously reported high-grade GTWL22-014. Holes GTWL26-022 and GTWL26-023 are in progress.

The Mispickel zone was previously drilled in 2022 (19 holes for 6,011 metres completed) and intersected high-grade assays including: GTWL22-002 = 19.00 g/t gold over 4 metres including 73.9 g/t over 1 metre; GTWL22-004 = 7.63 g/t gold over 3 metres including 22.5 g/t Au over 1 metre; and GTWL22-0014 = 31.89 g/t gold over 3 metres including 69.4 g/t Au over 1 metre (see August 25, 2022 press release).

Typical of the Mispickel system, the holes intersected multiple zones of deformation, sulphide mineralization, and quartz veining. Remaining holes are intended to explore along strike to the north and south, further delineate high-grade trends, and to test a new area to the southeast.

Gold Terra Retains SLR Consulting

The Company has engaged SLR Consulting to complete an updated Mineral Resource Estimate (MRE) on the Yellowknife Project. The last MRE was completed in 2022, and several zones were not included. The updated MRE is anticipated to be completed in the second half of 2026, with a first draft before April 2026. and will be an important milestone to advance the project.

SLR Consulting is a global industry leader in mining advisory and technical services. SLR Consulting provides multidisciplinary expertise and capabilities spanning geology, resource estimation, engineering, metallurgy, mine waste, and environment, delivering end-to-end support across all stages of the mining life cycle. From early exploration to post-closure transformation, SLR's Mining Advisory team navigates complexity, manages risk, and creates long-term value.

The technical information contained in this news release has been reviewed and approved by Joseph Campbell, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Senior Technical Advisor for the Company.

About Gold Terra

The Yellowknife Project (YP) encompasses 836 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the Campbell Shear, where approximately 14 Moz of gold has been produced, (refer to Gold Terra Oct 21, 2022, Technical Report) and most recently on the CMO property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).

The YP and CMO properties lie on the Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts the former-producing high-grade Con and Giant gold mines. The Company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

Visit our website at www.goldterracorp.com.

For more information, please contact:

Gerald Panneton, Chairman & CEO
[email protected]

Mara Strazdins, Investor Relations
Phone: 1-778-897-1590 | 416-710-0646
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information Concerning Estimates of Mineral Resources
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an Inferred Mineral Resource could ever be mined economically. It cannot be assumed that all or any part of "Measured Mineral Resources," "Indicated Mineral Resources," or "Inferred Mineral Resources" will ever be upgraded to a higher category. The Mineral Resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.

Cautionary Note to United States Investors
The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this news release are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended ("CIM Standards"). The U.S. Securities and Exchange Commission (the "SEC") has adopted amendments effective February 25, 2019 (the "SEC Modernization Rules") to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934. As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources", which are defined in substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral Reserves" to be substantially similar to the corresponding CIM Standards.

U.S. investors are cautioned that while the foregoing terms are "substantially similar" to corresponding definitions under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Standards. Accordingly, there is no assurance any Mineral Resources that the Company may report as "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources" under NI 43-101 would be the same had the Company prepared the Mineral Resource estimates under the standards adopted under the SEC Modernization Rules. In accordance with Canadian securities laws, estimates of "Inferred Mineral Resources" cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.

Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.

All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding the current drilling on the Campbell Shear, potentially adding ounces to the Company's current YCG mineral resource, and the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and annual information form available under the Company's profile at www.sedar.com.

Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

SOURCE: Gold Terra Resource Corp

View the original press release on ACCESS Newswire

O.Martin--SMC