Trans Canada GOLD Corp. Completes a Preliminary Reserves Report ON the 13-14 7HZ Lloyd Well with Petrotech and Associates, Highlighting Reserves from Its Lloydminster Multilateral Horizontal Heavy Oil Well Program ____________________________________________________________________________________
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
April 15th, 2024 TSX-V Trading Symbol: TTG
OTCQB Symbol: RCTRF
______________________________________________________________________________________
TRANS CANADA GOLD CORP. COMPLETES A PRELIMINARY RESERVES REPORT ON THE 13-14 7HZ LLOYD
WELL WITH PETROTECH AND ASSOCIATES, HIGHLIGHTING RESERVES FROM ITS LLOYDMINSTER
MULTILATERAL HORIZONTAL HEAVY OIL WELL PROGRAM
____________________________________________________________________________________
VANCOUVER, B.C. – Trans Canada Gold Corp. (TSX-V: TTG, OTCQB -RCTRF) (“Trans Canada” or the
“Company”), is pleased to announce that the Company has received a preliminary Independent Reserves
report on its newly drilled 13 -14-049-01W4 (the “Well”) from its r eserves evaluator. The preliminary
report was completed by Petrotech & Associates, an independent qualified reserves evaluator based in
Calgary, Alberta, and was prepared in accordance with the Canadian Oil and Gas Evaluation Handbook
(COGE Handbook) and National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NS
51-101). The preliminary evaluation was conducted using the Sproule Dec 31, 2023 price forecast for
heavy crude oil (12 °API) at www.sproule.com, adjusted for location.
The disclosures contained in this preliminary report represent information compiled, related to the
Company’s reserves, future net revenue, and discounted value of future net revenue, and discounted
value of future net cash flows as of December 31, 2023.
PRELIMINARY RESERVES REPORT ON THE 13-14 LLOYDMINSTER WELL
Heavy Crude Oil Reserves
(@ December 31, 2023)
Company Gross(1)
Heavy Crude Oil
Mbbl
Company Net(2)
Heavy Crude Oil
Mbbl
0% NPV
MM$
10% NPV
MM$
20% NPV
MM$
Proved Developed
Producing 48.3 44.7 3.0 2.3 1.9
Total Proved 48.3 44.7 3.0 2.3 1.9
Probable 12.4 10.1 0.7 0.4 0.3
Total Proved plus
Probable 60.7 54.8 3.7 2.7 2.2
• (1) “Gross Reserves” are the Company’s working interest reserves before the deduction of royalties.
• (2) “Net Reserves” are the Company’s working interest reserves after deductions of royalty obligations,
plus the Company’s royalty interests.
2
The Company will prepare their year- end report, effective June 30, 2024 later this year and release the
results once completed.
Commented Tim Coupland, “The reserve report is very encouraging, indicating a very long life producing
well, which is expected to provide sustaining cash flow for the Company , and provide much needed
capital for future opportunities . As previously mentioned (NR February 20 th, 2024), the operator is
planning to drill a second well in the area of mutual interest (AMI). This well will target the General
Petroleum (GP) sand and is similar to successful wells drilled by the operator. The company will have an
18.75% working interest in the GP well and is expected to spud in early summer, 2024. Also, the operator
has indicated that they are working on a multi -well GP prospect in the AMI, should the efforts be
successful, the Company will have the opportunity to participate in drilling 2 or 3 additional wells in the
future.”
The Company continues to explore additional exploration drilling opportunities in Canada and the United
States.
ABOUT TRANS CANADA GOLD CORP. – GOLD MINERAL EXPLORATION/ OIL AND GAS PRODUCTION
The Company is a discovery focused Oil & Gas Resource Development and Mineral Exploration Company
that is currently focused on developing its’ production of conventional heavy oil exploration
opportunities, increasing production capabilities and increasing potential future oil production revenues.
The Company identifies, acquires and finances the acquisition of gold exploration properties and the
ongoing development of mining and oil and gas assets primarily situated in Canada. The Company is
currently permitting and developing its Pickle Lake gold exploration property. The Company has qualified
Senior exploration management and Geological Mining teams of professionals, seasoned in exploration
production, field exploration and drilling. The Company currently works with Crove rro Energy Ltd., who
has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil
production 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 and development of mining, 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
www.transcanadagold.com
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.