Trans Canada GOLD Corp. Surface and Pad Preparations and Pre-Setting Surface Casings, Are Underway, Preparing to Begin Drilling Its Second Multilateral Horizontal Heavy Oil Well Situated Near Lloydminster, Alberta ____________________________________________________________________________________
TRANS CANADA GOLD CORP.
c/o Suite 1200 - 750 West Pender Street ∙ Vancouver ∙ British Columbia ∙ V6C 2T8
Telephone: (604) 681-3131
NEWS RELEASE
August 16th, 2024 TSX-V Trading Symbol: TTG
OTCQB Symbol: TTGXF
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TRANS CANADA GOLD CORP. SURFACE AND PAD PREPARATIONS AND PRE-SETTING SURFACE CASINGS,
ARE UNDERWAY, PREPARING TO BEGIN DRILLING ITS SECOND MULTILATERAL HORIZONTAL HEAVY OIL
WELL SITUATED NEAR LLOYDMINSTER, ALBERTA
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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 that, the Alberta Energy Regulator has issued a drilling permit, and
Croverro has started building the second multilateral drilling location on the project lands near
Lloydminster, Alberta. The company expects drilling to commence shortly. Croverro Energy under the
terms of the agreement will be Operator
Commented Tim Coupland, “ We are excited to be nearing completion of our surface and pad
preparations and pre -setting surface casings on the project lands , and are excited to be drilling our
second multi-lateral oil well with a reliable and experienced partner, who has consistently targeted and
successfully drilled, completed and started production several wells targeting different oil reservoirs.
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 success. The partnership is
allowing the Company to grow rapidly and prosper, as world oil prices continue to remain high.”
"Our team is fully prepared and excited to advance our second multilateral well near Lloydminster,
marking another key step in our strategic growth and production goals," said Director Chris Timmins.
The lands for the well are currently controlled by a partnership lead by Croverro with the company
holding 18.75% interest. This second multi-lateral horizontal well is based on similar wells drilled in the
GP oil formation using surrounding well control combined with recently processed seismic lines. The
new multilateral well is expected to contact over 8000 m of GP oil reservoir.
Drilling completion and equipping costs are expected to be $2.2 million for the well ($412,500 net to
Trans Canada). The company is fully funded for these operations. Croverro Energy Ltd., under the terms
of the agreement, is the Operator.
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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
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.