Gold Terra drilling program targets high-grade gold on former Con Mine Property

Gold terra drilling program targets high-grade gold on Former Con Mine Property that produced 6.1 million ounces at a grade of +15 g/t gold

Gold Terra is advancing their Yellowknife City Gold project through their option to purchase 100 per cent of the former Con Mine property from Newmont.

The former Con Mine is a key strategic land play for the company as this property contains a significant part of the prospective Campbell Shear, a source of more than 14 million ounces,

Visible Gold in Drill Hole GTWL22-002/MP5875-F – 20.3m (Main Zone).

including 6.1 million ounces from the Con Mine itself. In addition, historic reserves and resources have been left behind when the mine was closed in 2003 while gold was $370 per ounce and the mine was no longer economic. Furthermore, Newmont supported the deal with a CA$1.5 million strategic investment for 3.7 per cent of the outstanding shares. The goal of the company is to add additional ounces to their current 2021 mineral resource of 1,207,000 inferred ounces.

Gold Terra is currently drilling in two areas on the property – north of Yellowknife in the Mispickle Deposit area and on two sites south of the Con Mine along the Campbell Shear, which is now the main focus of the project. South of the Con Mine, the Yellorex zone will be drilled on a 50-metre spacing to bring the deposit into an updated mineral resource, and deeper, it will be drilled at a 200-metre spacing at around -1,000 metres to explore

Drilling location map.

the Campbell Shear in underexplored area. The potential for more discoveries remains high as the two-kilometre stretch along the Campbell Shear remains open at depth and along strike. The aim of the drilling is to delineate a potential gold mineral resource to add as potential anchor resource which could drive a mine development study, such as a pre-feasibility study.

The Yellorex Zone sits in the Campbell Shear immediately south of the former Con Mine. The Yellorex Zone has the same

signature as the high-grade zones in the former Con Mine and is on the southern extension of the Con Mine’s gold-bearing Campbell Shear structure that produced five-million ounces of gold from the mine. The company has had very positive drill results, such as in hole GTCM21-022, which intersected two high-grade zones at Yellorex: 19.74g/t gold over 5.44 metres and 10.12 g/t over 3.73 metres.

While the focus is to continue drilling along the Campbell Shear south of the Con Mine and advance the high-grade Yellorex Zone towards a mineral resource, Gold Terra is also having very positive drill results in the former Mispickel area located approximately 20 kilometres northeast of Yellowknife. The initial drill results from this smaller winter drilling program along the new MP-Ryan zone are very positive with visible gold reported in 10 drill holes and hole GTWL22-002 intersecting 19.00 g/t gold over 4.0 metres, including 73.9 g/t gold over one metre. The Mispickel area is of great importance as it has the potential to serve as a satellite deposit to the main area of focus along the Campbell Shear south of the Con Mine.

If Gold Terra can demonstrate the continuity of gold deposits associated with the historic gold envelope of the Con Mine, the benefits for the City of Yellowknife would be great. Historically, the mineral sector has been the primary driver of the Yellowknife economy and Gold Terra’s project has the potential to add support to the future of the local economy. With a large drilling

Yellowrex location map.

program and positive drill results, Gold Terra is on track to reestablish Yellowknife as one of the premier gold mining districts in Canada.

Gold Terra offers a rare opportunity to invest in a world-class high-grade discovery on the doorstep of Canada’s most prolific past gold production. For more information and company news, please go to our website at www.goldterracorp.com. 7

GOLD TERRA RESOURCE CORP.

TSX-V: YGT; FRANKFURT: TXO; OTC QX: YGTFF Multi-million ounce potential in Yellowknife Gold Belt. Drilling to delineate gold underway on Campbell Shear south of the former Con Mine.