Trans Canada GOLD Corp. Completes Its Eighth Full Month of Steady Oil Production FOR the Month of May 2024, ON Its Lloydminster Multilateral Horizontal Heavy Oil Well and Prepares FOR Drilling Its Second Multilateral Well IN Mid July
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
May 30th, 2024 TSX-V Trading Symbol: TTG
OTCQB Symbol: RCTRF
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TRANS CANADA GOLD CORP. COMPLETES ITS EIGHTH FULL MONTH OF STEADY OIL PRODUCTION FOR
THE MONTH OF MAY 2024, ON ITS LLOYDMINSTER MULTILATERAL HORIZONTAL HEAVY OIL WELL AND
PREPARES FOR DRILLING ITS SECOND MULTILATERAL WELL IN MID JULY
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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 now completed its eighth full month of
robust steady oil production for the month of May 2024, with trucking and oil sales to Altex and Cenovus
Energy Ltd. The Company will release the May numbers in the coming days, once finalized. In October
2023, the Company successfully drilled and completed seven (7) multi-lateral legs of the Company’s first
multilateral well. The Company encountered oil throughout the entire 2675 meters of lateral oil pay in
the Sparky formation. Since drilling inception, the Croverro 7HZ Well has now produced over 45,236
barrels of consistent steady oil production. Croverro Energy Ltd. under the terms of the agreement is the
Operator.
The Company has strengthened its land position, and completed the purchase of two vital strategic land
and lease acquisitions pursuant to an AMI (“Area of Mutual Interest”) in a Farmout Agreement
(“Farmout”) dated November 1, 2022. The Operator has secured a surface lease and is permitting a
multilateral well for mid-summer start for drilling. This new multilateral well is expected to contact over
3000 meters of oil reservoir in the General Petroleum sand.
Commented, President & CEO Tim Coupland, “We have now hit the eight-month of steady oil production,
and are excited to be soon releasing our May production rates, once the final oil production numbers
have been finalized with Croverro, and confirmed by Altex and Cenovus Energy Ltd. With the completion
of the recent land acquisition, and drilling pre-planning in full progress, we now look forward to drilling
our second large Multilateral Well on schedule for mid-summer. With global oil prices remaining steady,
and the recent startup of the TMX pipeline, oil prices are forecasted to remain high which will allow the
Company to pursue additional drilling opportunities and new property acquisitions.”
Commented, Director, Chris Timmins, " Drilling large Multilateral oil wells offers remarkable operational
cost savings to the Company and its working interest partners. By drilling multiple legs from a single well
bore, allows for more of an oil reservoir to be accessed and increas es our exposure to much larger oil
pay zones."
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ABOUT TRANS CANADA GOLD CORP. – OIL AND GAS PRODUCTION/REVENUE PRODUCING WELLS
The Company is a discovery focused Oil & Gas Resource Development and Mineral 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 management and 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 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.