Gold Terra Announces Drill Target Preparation for the Con Mine, Yellowknife, NWT
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Gold Terra Announces Drill Target Preparation for the Con Mine, Yellowknife, NWT
Vancouver, BC – September 4, 2025 – Gold Terra Resource Corp. (TSX -V: YGT; Frankfurt: TX0; OTCQX:
YGTFF) (“Gold Terra ” or the “ Company”) is pleased to provide an update on our 2025-2026 drilling
strategy along the past producing Campbell Shear (CS) with an objective to delineate additional potential
gold mineralized zones.
Con Mine Option (CMO) Focus
The 2025-2026 exploration program includes:
• An evaluation of the year-end 2002 historical resources (650,000 ounces @11-12 g/t 3 (See further
in this press release )) between surface and the current depth of the Robertson shaft ( -1,900
metres) at a different Cut-Off Grade (COG).
• This evaluation will provide drill targets in an area where the historical resource was left behind
unmined during a low gold price environment (2002) of US$340 per ounce of gold.
• Preparation of drill holes targets in the Yellorex trend of the CS where the Company has already
outlined a Mineral Resources Estimates (MRE) in 20222 (See further in this press release ), and
where additional ounces have the potential to be added between surface and 700 metre depth.
• The Company has also re ceived two Government (GNWT) Mineral Incentives grant s totaling
$257,560 for the Con Mine drilling and for the Walsh Lake area north of Yellowknife.
• A Mineral Resource Estimate (MRE ) followed by Preliminary Economic Assessment (PEA) after
completion of the drill program.
Under the CMO agreement, the Company has the right to acquire 100% of the CMO property from a
subsidiary of Newmont Corporation, subject to the fulfillment of certain conditions set out in the
agreement, as reported in the Company's news release dated November 22, 2021. Gold Terra’s option
on the CMO with Newmont is until Nov 21, 2027, supporting ongoing CS drilling and potential resource
growth.
In addition, additional exploration targets along the CS and its subsidiaries would be evaluated on the
adjoining 100% owned district scale Yellowknife Project which has tremendous potential for the discovery
of additional mineral resources , beyond the current 1,207,000 inferred ounces (MRE September 2022 1
See further in press release).
Chairman and CEO, Gerald Panneton, commented, "When we signed the 100% purchase option of the Con
Mine in November 2021, the gold price was hovering between US$1600 and 1750 per ounce. As we have
entered a new gold momentum window with the gold price sitting well above US$3 500, this is a game
changer. Our CMO and current district scale land holdings have tremendous exploration potential to add
additional ounces to our current mineral resources. Gold Terra has 100% access to one of the largest past-
producing high-grade gold belts in Canada along the prolific Campbell Shear. Over the last few months,
we have been preparing our drilling targets along the Campbell Shear, and we look forward to executing
our next program.”
A long section showing the 2025-2026 drill target areas is shown in the figure below:
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Yellowknife Project 2021 MRE1 :
The Yellowknife Project has an extensive land position over 836 square kilometres covering 70 kilometers
of the CS and the previous exploration indicates the potential to host multiple deposits. To date, the
Yellowknife Project’s contiguous Northbelt Property has a March 2021 mineral resource estimate of
1,207,000 inferred ounces 15 km north of the Con Mine and the city of Yellowknife in 4 satellite deposits,
with the Crestaurum open pit @ 6 g/t Au (see Gold Terra’s Oct. 21, 2022 Technical Report).
For current resource estimates please refer to the October 21, 2022 technical report, titled "Initial
Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest
Territories, Canada" with an effective date of September 2, 2022, by Qualified Person, Allan Armitage, Ph.
D., P. Geo., SGS Geological Services, which can be found on the Company's website
at https://www.goldterracorp.com and on SEDAR at www.sedarplus.com.
October 2022 Mineral Resource Estimate2 :
Indicated and Inferred resource s (MRE October 2022 - see Gold Terra’s Oct. 21, 2022 Technical Report )
near surface and south of the Con Mine are shown in the table below:
Area Category Cut-off Grade
(g/t Au) Tonnes Grade
(g/t Au)
Contained
Gold Ounces
CMO Property
Yellorex Main Indicated /UG 3.5 821,000 7.55 109,000
Inferred/UG 3.5 993,000 6.89 220,000
Yellorex North Inferred/UG 3.5 463,000 7.42 111,000
Kam Point Inferred/UG 3.5 536,000 5.83 101,000
Total: Indicated/UG 3.5 821,000 7.55 109,000
Inferred/UG 3.5 1,992,000 6.74 432,000
(1) The classification of the current Mineral Resource Estimate into Indicated and Inferred is consistent
with current 2014 CIM Definition Standards - For Mineral Resources and Mineral Reserves.
(2) Additional drilling will be required to upgrade/verify the resource estimates.
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G ndicated 0 M tonnes a eraging g t u for 10 000 ounces contained gold
G nferred of 2 0 M tonnes a eraging g t u for 2 000 ounces contained gold
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Con Mine Historical Reserve3 :
The Con Mine closed in 2003 when the gold price was around US$ 340 per ounce, with approximately
650,000 ounces at 11-12 g/t Au in historic reserves and combined resources as shown in the table below.
Please refer to the October 21, 2022 technical report, titled "Initial Mineral Resource Estimate for the
CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada" with an
effective date of September 2, 2022, by Qualified Person, Allan Armitage, Ph. D., P. Geo., SGS Geological
Services, which can be found on the Company's website at https://www.goldterracorp.com and on
SEDAR+ at www.sedarplus.ca.
*Note: The Historic Reserves and Resources quoted above are historical in nature and are not NI 43-101
compliant. They were compiled and reported by MNML during its operation and closure of the Con Mine
(2003). Con Mine Ore Reserve Statement January 1st 2003, including:
Mineral Reserves
Proven 171,000 11.31 62,000
Probable 340,000 11.66 126,000
Mineral Resources
Measured 408,000 12.03 158,000
Indicated 875,000 10.97 304,000
The historical estimates are historical in nature and should not be relied upon, however, they do give
indications of mineralization on the property. The Qualified Person has not done sufficient work to classify
them as current Mineral Resources or Mineral Reserves and Gold Terra is not treating the historical
estimates as current Mineral Resources or Mineral Reserves. Parameters for the resource/reserve
categories listed above are not known.
Gold Terra’s strategic land holdings covering an extensive mineralized system in the Yellowknife Gold Belt
are shown in the figure below:
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The technical information contained in this news release has been reviewed and approved by Joseph
Campbell, a Qualified Person as defined in National Instrument 43 -101 - Standards of Disclosure for
Mineral Projects and Senior Technical Advisor for the Company.
About Gold Terra
The Yellowknife Project (YP) encompasses 918 sq. km of contiguous land immediately north, south and
east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra
controls one of the six major high -grade gold camps in Canada. Being within 10 kilmetres of the City of
Yellowknife, the YP is close to vital infrastructure, including all -season roads, air transportation, service
providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on
the prolific Campbell Shear, where approximately 14 Moz of gold has been produced, (refer to Gold Terra
Oct 21, 2022, Technical Report) and most recently on the CMO property claims immediately south of the
past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear
structures (1938-2003).
The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres
of strike length along the main mineralized shear system that hosts the former-producing high-grade Con
and Giant gold mines. The Company's exploration programs have successfully identified significant zones
of gold mineralization and multiple targets that remain to be tested which reinforces the Company's
objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
Visit our website at www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, Chairman & CEO
Mara Strazdins, Investor Relations
Phone: 1-778-897-1590 | 416-710-0646
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information Concerning Estimates of Mineral Resources
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Therefore,
investors are cautioned not to assume that all or any part of an Inferred Mineral Resource could ever be
mined economically. It cannot be assumed that a ll or any part of “Measured Mineral Resources ”
“ ndicated Mineral Resources ” or “ nferred Mineral Resources” will e er be upgraded to a higher
category. The Mineral Resource estimates contained herein may be subject to legal, political,
environmental or other risks that could materially affect the potential development of such mineral
resources. Refer to the Technical Report, once filed, for more information with respect to the key
assumptions, parameters, methods and risks of determination associated with the foregoing.
Cautionary Note w ’ I
The historic reserve/resource estimates referenced in this press release, which were compiled during
the operation and closure of the Con Mine by Newmont’s predecessor company (200 ) are pro ided for
historic context only. These estimates do not reflect Newmont's current resource base. Gold Terra is
solely responsible for the exploration and verification of these resources, and any updated estimates will
need to comply with current industry standards. Newmont Corporation is not responsible for Gold
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Terra’s exploration acti ities nor for any resource updates or future de elopments related to the CMO
property.
Cautionary Note to United States Investors
The Company prepares its disclosure in accordance with the requirements of securities laws in effect in
Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources
in this news release are defined in accordance with NI 43 -101 under the guidelines set out in CIM
Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of
Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended ("CIM Standards"). The U.S.
Securities and Exchange Commission (the "SEC") has adopted amendments effective February 25, 2019
(the "SEC Modernization Rules") to its disclosure rules to modernize the mineral property disclosure
requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange
Act of 1934. As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize
estimates of "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral
Resources", which are defined in substantially similar terms to the corresponding CIM Standards. In
addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral
Reserves" to be substantially similar to the corresponding CIM Standards.
U.S. investors are cautioned that while the foregoing terms are "substantially similar" to corresponding
definitions under the CIM Standards, there are differences in the definitions under the SEC Modernization
Rules and the CIM Standards. Accordingly, there is no assurance any Mineral Resources that the Company
may report as "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral
Resources" under NI 43 -101 would be the same had the Company prepared the Mineral Resource
estimates under the standards adopted under the SEC Modernization Rules. In accordance with Canadian
securities laws, estimates of "Inferred Mineral Resources" cannot form the basis of feasibility or other
economic studies, except in limited circumstances where permitted under NI 43-101.
Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward -looking
information" within the meaning of applicable securities legislation (" forward-looking information ").
Generally, this forward-looking information can, but not always, be identified by use of forward -looking
terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations o f
such words and phrases or statements that certain actions, events, conditions or results "will", "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations
thereof.
All statements other than statements of historical fact may be forward -looking information. Forward -
looking information is necessarily based on estimates and assumptions that are inherently subject to
known and unknown risks, uncertainties and other factor s that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed
or implied by such forward-looking information. In particular, this news release contains forward-looking
information regarding the current drilling on the Campbell Shear, potentially adding ounces to the
Company’s current YCG mineral resource and the Company's objective of re-establishing Yellowknife as
one of the premier gold mining districts in Canada.
There can be no assurance that such statements will prove to be accurate, as the Company's actual results
and future events could differ materially from those anticipated in this forward -looking information as a
result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and
annual information form available under the Company's profile at www.sedar.com.
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Although the Company has attempted to identify important factors that would cause actual results to
differ materially from those contained in forward -looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. The forward-looking information contained
in this news release is based on information available to the Company as of the date of this news release.
There can be no assurance that such statements will prove to be accurate, as actual results and f uture
events could differ materially from those anticipated in such statements. All of the forward -looking
information contained in this news release is qualified by these cautionary statements. Readers are
cautioned not to place undue reliance on forward -looking information due to the inherent uncertainty
thereof. Except as required under applicable securities legislation and regulations applicable to the
Company, the Company does not intend, and does not assume any obligation, to update this forward -
looking information.