Gold Terra Drills 8.20 g/t Gold over 20 Metres at Yellorex, Targeting an Expanded Resource at the Con Mine Option Property

• Lead hole GTY26-001 intersected 8.20 g/t gold over 20.35 metres, including a higher-grade section of 18.80 g/t over 6.75 metres within the Campbell Shear.
• All seven reported holes intersected the Campbell Shear, the geological structure that hosted approximately 14 million ounces of historically produced gold in the Yellowknife region.
• A 10,000-metre, two-rig winter drill programme is underway; 23 holes totalling 8,000 metres have been completed as of the release date.
• An updated Mineral Resource Estimate by independent consultant SLR Consulting is targeted for completion in March 2026, incorporating zones not included in the 2022 resource calculation.
• Gold Terra holds an option to acquire 100% of the Con Mine Option property from a subsidiary of Newmont Corporation, valid until November 2027.

Gold Terra Resource Corp. (TSXV: YGT | OTCQB: YGTFF | Frankfurt: TX0) is a Canadian-based gold exploration company advancing the Yellowknife Project, an 836-square-kilometre land package surrounding the City of Yellowknife in the Northwest Territories. The company controls one of Canada's six major high-grade gold camps, situated within 10 kilometres of Yellowknife and close to established infrastructure including all-season roads, hydroelectric power, and air transportation. Gold Terra's primary exploration focus is the Campbell Shear, a major gold-bearing geological structure along the Yellowknife greenstone belt where approximately 14 million ounces of gold have been historically produced. The company also holds an option on the Con Mine Option property, lying immediately south of the former Con Mine, which produced 6.1 million ounces of gold between 1938 and 2003 across the Con, Rycon, and Campbell Shear structures.

High-Grade Yellorex Intercepts Confirm Campbell Shear Continuity

The first batch of assay results from Gold Terra's 2026 winter drill programme covers seven holes targeting the Yellorex zone, located immediately south of the former Con Mine workings. The standout result, hole GTY26-001, returned 8.20 grams per tonne (g/t) gold over 20.35 metres, including a higher-grade section of 18.80 g/t gold over 6.75 metres. A second notable hole, GTY26-004, intersected 4.54 g/t gold over 19.10 metres, with a narrower high-grade interval of 20.23 g/t over two metres.

All seven holes confirmed the presence of the Campbell Shear, characterised by quartz-ankerite veining (quartz-carbonate mineral associations commonly associated with gold deposits), strong surrounding rock alteration, and sulphide minerals. These are consistent geological signatures of gold mineralisation along this belt, and their repeated identification across multiple holes indicates that the zone follows a continuous structure rather than occurring in isolated pockets.

Chairman and CEO Gerald Panneton stated: 

"This first batch of drill results confirm the potential continuity of the zone, as Gold Terra requires additional holes to seek more ounces in the indicated category. The Campbell Shear structure is our highest priority target as the Con Mine produced historically more than 5 million ounces of high-grade gold (16 g/t Au)." 

In resource classification terms, indicated resources carry a higher level of geological confidence than inferred resources, and are generally accorded greater weight in project valuations and development planning.

2026 Winter Drill Programme Advances Toward Expanded Mineral Resource Estimate

Gold Terra's 2026 winter drill programme has two rigs operating in the Yellorex area of the Campbell Shear, having completed 23 holes and approximately 8,000 metres of the planned 10,000-metre programme as of the release date. The seven holes reported here represent the first assay batch, with further results expected as drilling continues. The programme targets the near-surface resource from surface down to 500 metres depth.

Simultaneously, SLR Consulting is preparing an updated Mineral Resource Estimate (MRE) targeted for completion in March 2026. An MRE is a formally verified estimate of the quantity of gold that may be present in the ground, and is a primary metric used to assess the scale and advancement of a mineral exploration property. The upcoming estimate will incorporate the Yellorex North zone, drilled in 2023, and the 103 North zone, neither of which was included in the 2022 calculation.

Chairman and CEO Gerald Panneton stated: 

"With Gold Terra's last MRE completed in 2022 based on a US$1,750 gold price, our winter drill program of 10,000 metres in the Yellorex area of the Campbell Shear will be looking to confirm and expand Gold Terra's estimate of the near surface resource from surface to 500 metres below surface on the CMO property." 

The 2026 drill results will not be included in this particular update. The Yellorex Main Zone, already drilled on 30 to 50 metre spacing in 2021 and 2022, accounts for more than 65% of the existing 2022 MRE and forms the foundation of the current resource base.

Con Mine Option Property Targets Near-Surface Ounce Growth in a Historic Gold Camp

The Con Mine Option (CMO) property is subject to a purchase agreement giving Gold Terra the right to acquire 100% of the land from a subsidiary of Newmont Corporation. The option runs until November 2027, within which time the company continues to advance exploration on the property. The CMO land sits directly south of the former Con Mine workings, along the same Yellowknife greenstone belt that spans nearly 70 kilometres of strike length.

Within the Yellorex area, three targets are being advanced. The Yellorex Main Zone forms the bulk of the existing resource. The Yellorex North target, drilled in 2023, was not previously included in the MRE and represents additional resource upside. The C17 target and the 3100-foot level area contain historical intercepts along the Campbell Shear that have not been fully tested with modern drilling, offering further optionality within the property.

The current drilling programme focuses specifically on near-surface mineralisation, from surface to 500 metres depth, which is typically less complex to extract than deeper resources. The CMO property benefits from proximity to the City of Yellowknife and access to existing infrastructure, including all-season roads and hydroelectric power, factors the company cites as part of the project's overall profile. The option agreement with Newmont provides a defined timeline within which Gold Terra can continue to build its resource case on the property.

Milestones and Next Steps

With 8,000 metres drilled and additional assay results pending, the near-term pipeline includes the completion of the 10,000-metre 2026 drill programme and the publication of an updated Mineral Resource Estimate by SLR Consulting, expected by the end of March 2026. That estimate will formally incorporate the Yellorex North and 103 North zones for the first time, producing a broader resource picture than the 2022 version. Further assay results from the ongoing programme are expected to follow in subsequent releases. The Con Mine Option agreement with Newmont remains in effect until November 2027, providing the company with a defined window to continue advancing the property ahead of any acquisition decision.

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