Gold Terra Resource Corp's Recent Financing to Support 2023 Exploration Program

• Gerald Paneton, Chairman and CEO of Gold Terra Resource Corp, discusses the company's Yellowknife Camp, an old gold-producing region in Northwest Canada.
• The company recently raised funds despite the challenging precious metals market to continue advancing its project.
• Gold Terra's strategy is focused on the Yellowknife Camp's potential, with a district-scale area covering over 900 square kilometers and historical production of 14 million ounces of gold.
• The raised funds will primarily support drilling efforts, which have increased from 23,000 to an expected 35,000 meters this year, aiming to further expand the gold resource.
• Gold Terra emphasizes the importance of its high-grade targets, particularly the Campbell Shear, as a key factor for its ongoing exploration and development efforts.

About Gold Terra Resource Corp

Gold Terra Resource Corp. (TSXV: YGT; OTCQX: YGTFF; FSE: TX0) recently closed a financing despite challenging precious metals markets. According to Chairman and CEO Gerald Panneton, the decision reflects Gold Terra's confidence in the significant high-grade production potential remaining at its Yellowknife City Gold project. The money raised will support continued exploration and resource expansion drilling in 2023 with a focus on the company's best targets along the gold-rich Campbell Shear structure.

Panneton acknowledges that in weak markets, some juniors may choose to sit on the sidelines and wait for better conditions before raising additional capital. However, he believes Gold Terra's advanced Yellowknife project merits continued investment. As Panneton stated, "We have two options as a junior in this difficult market - you stop doing anything and wait on the sidelines, or you believe in your project and keep working at it."

Focus on Expanding Resources to 2 Million Ounces

The primary focus is expanding the current 1.2 million ounce inferred high-grade underground resource to reach a 2 million ounce threshold needed to support a feasibility study and restart of the high-grade Con mine, which previously produced over 5 million ounces at 16-20 g/t gold.

An initial 8,000 meter drill program for 2023 will target potential near-surface open pit mineralization at the Con mine area as well as test for deeper extensions of high-grade mineralization below the Con mine itself. As Panneton explained, "We need to find 1.5 million ounces to sustain buying the Con mine and assuming the liability in the future."

Near Surface Potential to Provide Early Cash Flow

Near surface drilling has already outlined over 500,000 ounces grading over 8 g/t gold within trucking distance of the Con mine and infrastructure. Panneton sees these easily accessible potential open pit ounces providing early cash flow in the first 5 years of a potential restart, complementing the project's robust underground economics.

Compelling Opportunity in Top-Tier Mining District

With existing infrastructure, year-round accessibility, high grades starting at surface, and massive exploration upside along 70km of prospective ground, Panneton sees Gold Terra's Yellowknife City project as one of the most de-risked new gold developments in Canada.

At current valuations, he believes Gold Terra offers a compelling opportunity for investors seeking high quality gold exposure. As Panneton stated, "Currently our resource in the ground is worth probably about $8 an ounce. This is where I see a big discrepancy between the value of projects 10-15 years ago versus today's market."

Position Early Ahead of Potential Production Restart

As Gold Terra continues expanding high-grade resources and derisking its path towards a potential Con mine restart over the next 2 years, investors have a chance to position early before the market recognizes the full potential of this emerging district-scale gold project.

What are the Risks & Opportunities for Investors?

As with any gold exploration company, there are substantial risks associated with the uncertainty of successfully discovering and developing an economically viable deposit. Gold Terra must continue to raise capital to fund ongoing exploration and development expenses. There is no guarantee that it will be able to secure adequate financing on favorable terms.

Delays in permitting, construction costs coming in higher than anticipated, and fluctuations in the price of gold could all negatively impact the economics of the project. And as always, political risks and unforeseen operational issues represent additional variables. Investors should view this as a speculative investment suitable only for their high-risk capital allocation.

However, the upside potential appears significant given the high grades demonstrated and extensive exploration upside in a proven district. The opportunity to position early in what could become the next major Canadian gold production story is intriguing, especially while the company's market capitalization remains relatively small at around $35 million. For investors with the appropriate risk tolerance, Gold Terra offers speculative exposure to a high quality asset with compelling economics in a top-tier jurisdiction. The potential reward of significant share price appreciation in the event Gold Terra delineates a multi-million ounce resource and restores Yellowknife to a premium Canadian gold mining district could outweigh the risks.