Trans Canada GOLD Corp. Signs Agreement with Croverro Energy Ltd. to Drill a Third Multilateral Horizontal Heavy Oil Well, Adjacent to the Company’S First Successful Lloyd 12-14 Heavy Oil Well ____________________________________________________________________________________
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
February 13th, 2025 TSX-V Trading Symbol: TTG
OTCQB Symbol: TTGXF
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TRANS CANADA GOLD CORP. SIGNS AGREEMENT WITH CROVERRO ENERGY LTD. TO DRILL A THIRD
MULTILATERAL HORIZONTAL HEAVY OIL WELL, ADJACENT TO THE COMPANY’S FIRST SUCCESSFUL LLOYD
12-14 HEAVY OIL WELL
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VANCOUVER, B.C. – Trans Canada Gold Corp . (TSX-V: TTG, OTCQB -TTGXF) (“Trans Canada ” or the
“Company”), is pleased to announce it has agreed to participate to drill a 7 leg Sparky multi-lateral well
with Croverro as operator for the Joint Venture. The newly proposed 5-23 well will be situated adjacent
to the Company’s 12 -14 Multilateral 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 7HZ LLOYD 12-14-49-01W4 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 85,000 barrels of oil and
continues to produce consistently month over month. The new 5-23 well is planned to open an estimated
3000 m of Sparky formation. The well is scheduled to be drilled t his summer/ third quarter of 2025,
subject to final permitting by the Alberta Energy Regulator.
The company has an 18.75% working interest in the Joint Venture with Croverro. The Area of Mutual
Interest now contains 1040 acres with potential in the Sparky and GP zones. This third multi -lateral
horizontal well is based on similar wells drilled in the Sparky Oil Formation using surrounding well control
and recently processed seismic lines. Croverro Energy Ltd., under the terms of the agreement, is the
Operator.
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 are excited to be drilling and advancing our third new well, the 5 -23
multi-lateral oil well, adjacent to our first highly successful 12 -14 Multilateral Well drilled in October
2023. This will be our third multi-lateral oil well drilled with Croverro, a reliable and experienced partner,
a key step in advancing growth and production goals. Croverro has proven to be a very competent
operator providing low operating cost and consistent production days. We believe drilling multi -lateral
horizontal wells with good well control and utilizing new computer modelling and seismic techniques
will provide continued drilling success. The partnership is allowing the Company to grow steadily and
prosper, as world oil prices continue to remain stable.”
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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 C ompany 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 Com pany 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
or
Christian Timmins, Director
Trans Canada Gold Corp.
Tel: (403) 597-3410
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Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.