Gold Terra Reports 9.53 g/t Gold Over 11.10 Metres at Yellorex, Con Mine Option Property

• Hole GTY26-013 returned 9.53 g/t gold over 11.10 metres from approximately 200 metres of vertical depth, including 18.94 g/t over 4.50 metres within that interval
• Hole GTY26-007 intersected 5.73 g/t gold over 6.38 metres at depth, with the zone remaining open below 487 metres
• All five reported holes intersected the Campbell Shear structure, consistent with the geological setting of the historic Con Mine
• A Mineral Resource Estimate (MRE) update for the Con Mine Option Property is forecast for May 2026, with a second update incorporating current drill results expected in September 2026
• All tender proposals for a Preliminary Economic Assessment (PEA) have been received, with a firm selection decision expected shortly and completion targeted for year-end 2026

Gold Terra Resource Corp. (TSXV: YGT | OTCQB: YGTFF | Frankfurt: TX0) is a Canadian gold exploration company advancing the Yellowknife Project, an 836-square-kilometre land package adjacent to Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra holds a position in one of six major high-grade historic gold camps in Canada. The project is located within 10 kilometres of Yellowknife, with access to all-season roads, hydro-electric power, air transport and local tradespeople. The company's current drilling is focused on the Campbell Shear, a structure where approximately 14 million ounces of gold has been produced historically, and on the Con Mine Option (CMO) property immediately south of the past-producing Con Mine. Gold Terra holds an option to acquire 100% of the CMO property from a subsidiary of Newmont Corporation until November 2027.

High-Grade Drilling Results in the Yellorex Zone, Campbell Shear

Five holes from Gold Terra's 10,000-metre 2026 winter drill programme in the Yellorex area have returned assay results. The best intersection, hole GTY26-013, returned 9.53 g/t gold over 11.10 metres from 211.30 metres downhole, with an inner interval of 18.94 g/t over 4.50 metres starting at 217.90 metres. The company describes this as confirming a high-grade zone located close to surface, at approximately 200 metres of vertical depth.

All five holes intersected the Campbell Shear, identified by quartz-ankerite and smoky quartz veining with sericite-dominated alteration. These are the same geological characteristics associated with gold mineralisation at the historic Con Mine. The company notes that the primary host rock is mafic volcanic, consistent with the broader mineralised system in the area.

Chairman and CEO Gerald Panneton commented: 

"These five additional holes from our 10,000-metre winter drill program in the Yellorex area of the Campbell Shear continue to confirm the continuity of the Yellorex zone. The Company's objective is to confirm and expand Gold Terra's estimate of the near surface resource from surface to 500 metres below surface on the CMO property as the last 2022 MRE was based on a US$1,750 gold price. 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)."

Near-Surface Resource Expansion and the Con Mine Option Property

Hole GTY26-007 is among the deepest drilled in the Yellorex zone to date, returning 5.73 g/t gold over 6.38 metres between 487.18 and 493.56 metres downhole, with an additional interval of 1.75 g/t over 13.46 metres below that. The company states the zone remains open at depth, indicating further drilling may extend the mineralised envelope. A separate hole, GTY26-009, returned 5.28 g/t over 2.60 metres at shallower depths.

The CMO property is situated immediately south of the historic Con Mine, which produced 6.1 million ounces of gold between 1938 and 2003 across the Con, Rycon and Campbell shear structures. Under the current option agreement with a Newmont subsidiary, Gold Terra has the right to acquire 100% of the property, subject to certain conditions, before November 21, 2027. The current drill programme is designed to confirm and potentially expand the 2022 MRE within the 500-metre depth range.

The 2022 MRE, which is a formal estimate of gold quantity believed to exist in the ground based on drilling data, was prepared using a gold price assumption of US$1,750 per ounce. Gold Terra has stated that the objective of the current programme is to provide the data needed to update that estimate. The Yellorex area drilling targets are within the zone where the company has already outlined a resource, and where additional ounces are considered possible between surface and 700 metres depth.

Upcoming Catalysts and Development Milestones for 2026

Gold Terra has outlined five near-term milestones for 2026. An MRE update for the CMO property is scheduled for May 2026, followed by a second update in September to include results from the current winter programme. The company has also completed a Conceptual Tailings Storage Facility study for a potential 20-year mine life. A tailings storage facility is where processed waste material is managed after gold extraction; its inclusion in planning is a standard step in progressing a project toward development.

All tender proposals for a PEA, which is an early-stage economic study of whether a deposit could be viably mined, have been received. A PEA typically precedes a full feasibility study and is a standard milestone in the progression from exploration to development. The company expects to announce its firm selection shortly, with the PEA targeted for completion by year-end 2026. On April 21, Gold Terra held a site visit in Yellowknife for investors and analysts to view drilling operations directly.

Taken together, these milestones follow a defined schedule between now and December 2026. The MRE updates will reflect additional drilling data and a revised gold price input compared to the 2022 estimate. The PEA, once completed, will provide the first formal economic analysis of the project. The Newmont option remains in place until November 2027, giving the company time to complete these studies before any acquisition decision is required.

Conclusion

Gold Terra's 2026 winter drill programme at the Yellorex zone has produced high-grade intercepts at near-surface and extended depths, with the zone remaining open for further definition. Two MRE updates are scheduled in the coming months, a PEA firm selection is pending, and a Conceptual Tailings Storage Facility study has been completed. The Con Mine Option with Newmont remains valid until November 2027. Results from the full 10,000-metre winter programme continue to be reported as assays are received.

‍