Star Metro - TRANS CANADA GOLD CORP. Ships 15,488 Barrels of Oil over Seven Months from Its Multilateral Heavy Oil Well, and Prepares for the Upcoming Multilateral Drill Program

Production shipping and sales commenced on the first multi-lateral well drilled, on October 6^th, 2023, the 7HZ Lloyd 12-14-49-01 W4 ("12-14 Well"). The Company has a working interest of 18.75%. Croverro Energy Ltd. is the Operator.

MULTILATERAL OIL WELL DRILL PERMIT AND WELL LICENSE APPROVED/ SUMMER DRILLING PENDING

The Company has received all formal approvals from the AER for its new Lloyd 5-23-49-1W4 ("5-23 Well") with the issuance of its well license and drill permit for its upcoming new 7-leg multi-lateral well and drilling program situated near Lloydminster, Alberta.

The Company has agreed to participate to drill a 7-leg Sparky multi-lateral well with Croverro as operator for the Joint Venture. The proposed well will be situated adjacent to the Company's successful 12-14 well, near Lloydminster, Alberta. Trans Canada has a 18.75% interest in the new well. This third multi-lateral horizontal well is expected to be similar to the company's successful 12-14 well, that was drilled in 2023 and encountered 2486 metres of oil pay in the Sparky Oil Formation. The 12-14 Sparky well has now produced over 130,000 barrels of oil and continues to produce consistently month over month. The newly permitted 5-23 Well when drilled, is expected to open an estimated 3000 m of Sparky formation. The well is scheduled to be drilled this summer subject to rig availability.

Drilling, completion and equipping costs are expected to be $1.9 million ($350,000 net to Trans Canada). The well costs are fully funded out of production cash flow thereby preventing any share dilution.

Commented Tim Coupland, "We continue to focus on continued multilateral drilling success in the Sparky Zone, while experiencing record oil pricing in the oil sector. The company remains mindful of the current record oil pricing and expects to take advantage of drilling opportunities within energy sector while navigating Canadian Energy policy direction. We are expecting increased oil production for 2026-2027 with our upcoming multi-lateral drilling programs, and we are exploring additional oil exploration drilling and acquisition opportunities in both central Canada and the United States. The Company will continue with its newly adopted multilateral well drilling strategy for 2026-2027", using new state of the art multi-lateral well drilling techniques in Alberta and Saskatchewan, to create growth".

THE HARRISON LAKE DISTRICT SCALE GOLD PROJECT- PROJECT ACQUISITION COMPLETED SUMMER DRILLING PHASE-1

The Company is preparing to implement the Phase 1- Diamond Drilling program at the Harrison Lake Gold Project. Contractors have been assembled to immediately commence preparation of underground drill setups, underground electrical facilities, road access improvements and an upgraded core shack/core sawing facility. An experienced drill contractor has been selected to carry out the continuous underground drill program. The Harrison Lake Gold Project is demonstrating the same geological characteristics as the Snowline Gold deposit situated in the Tintina Gold Belt in the Yukon.

Gold Targets Identified for Drilling and further Exploration

The Company has identified Targets for further Exploration:

• 2 to 10 million tonnes of gold mineralized material

• Grading between 1.0 to 5.0 grams per tonne (g/t) gold

This Target for further Exploration target is based on the current geological understating and historical drilling and identified mineralization, over several widely spaced intrusions over more than 2 kilometers of strike-length and over a combined vertical elevation range of more than 700 meters.

The potential quantity and grade of this gold Target for Further Exploration is conceptual in nature, and there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource;

HARRISON LAKE DISTRICT SCALE GOLD PROJECT - GEOLOGICAL HIGHLIGHTS - GOLD INTERCEPTS

Harrison Lake district Scale Gold Project is located in an advanced gold exploration and development setting, which is fully permitted for targeting identified and known gold zones, in the expectation of increasing its gold resource. Detailed drill planning is currently underway on the Harrison Lake Gold Project located on Bear Mountain. The Company is now well positioned to capture and to capitalize on the forecasted ascending gold prices.

• The property covers a 7-kilometre strike length of the gold rich Harrison Lake Structural Zone, with stockwork type gold mineralization within diorite intrusions (Jenner and Portal Zones) including DDH-84-52: 102 meters of 3.54 g/t gold.

• Jenner and Portal Zones include DDH 88-76 which intersected 7.0 meters averaging 21.4 g/t and DDH 88-121 which intersected 9.0 meters averaging 13.5 g/t.

• A corridor of similar diorite intrusions and "gold in soil" anomalies that extends for more than two kilometers to the south of the original gold discovery. Follow up drilling of some of these soil anomalies identified more diorite hosted stockwork type mineralization including DDH 88-130 which tested the Hill Zone and reportedly returned 30 meters averaging 3.0 g/t.

• The style of mineralization is similar to the gold deposit model of the Tintina Gold Belt that straddles the Yukon - Alaska border and it has also been recognized that the mineralized diorite intrusions are localized along a regionally extensive shear zone adjacent to a large diorite batholith. Snowline Gold's recent discovery of the Valley deposit clearly demonstrates the potential of these types of occurrences.

ABOUT TRANS CANADA GOLD CORP. - GOLD & MINERAL EXPLORATION/OIL AND GAS PRODUCTION/REVENUE PRODUCING OIL WELLS

The Company is a Canadian discovery focused Gold Exploration company focused on acquiring and drilling advanced gold, silver and critical base metal mineral assets situated in Canada. The Company identifies, acquires and finances with its working interest partners, and Oil & Gas Resource Development Exploration Company that is currently focused on developing and drilling its' production of conventional heavy oil exploration properties, increasing production capabilities, and increasing future oil production revenues through responsible exploration. The Company identifies, acquires and finances with its working interest partners, the ongoing development of oil and gas assets, primarily situated in Alberta Canada. The Company has qualified Senior exploration mining management and oil & gas Geological teams of professionals, seasoned in exploration production, field exploration and drilling. The Company currently works with Croverro Energy Ltd., who has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil production, and revenue success with large multi-lateral wells currently under their supervision. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration drilling, and maximizing long term gold and strategic mineral and petroleum and natural gas resource assets.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
[email protected]
www.transcanadagold.com

and

Mario Drolet
President
MI3 Communications Financieres Inc., Montreal Quebec
Tel: (514) 904-1333
Cell: (514) 340-3813
E-Mail: [email protected]

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

SOURCE: Trans Canada Gold Corp.

View the original press release on ACCESS Newswire

S.Cloutier--SMC