Gold Terra's 2026 Resource Update Formally Discloses Zone 103N as a Standalone Mineral Resource

• Zone 103N disclosed as a standalone resource for the first time: 595,000 Inferred ounces within 5.1 million tonnes grading 3.64 g/t Au (grams of gold per tonne of rock)
• Combined total across all three updated deposits: 895,000 Inferred ounces and 103,000 Indicated ounces, with Indicated representing a greater degree of geological confidence than Inferred
• The 2026 MRE applies stricter classification criteria than the prior 2022 estimate, including tighter drill spacing requirements and a rebuilt geological framework
• Surface drilling at Zone 103N is planned to begin in June 2026
• A second phase MRE update is targeted for Q4 2026, with a Preliminary Economic Assessment (PEA) also expected by year-end

Gold Terra Resource Corp. (TSXV: YGT | OTCQB: YGTFF | Frankfurt: TX0) is a Vancouver-based gold exploration company advancing the Yellowknife Project, an 836 sq. km land package along the historic Yellowknife gold belt in the Northwest Territories. The project is situated within 10 kilometres of Yellowknife city and has access to established infrastructure including all-season roads, hydroelectric power, and air transport. Gold Terra controls one of six major high-grade historical gold camps in Canada and is currently focused on the Campbell Shear, a mineralised geological structure that hosted the former Con and Giant gold mines, which together produced approximately 14 million ounces of gold. The company holds an option to acquire the Con Mine Option (CMO) property from Newmont Corporation, exercisable until November 2027, with the stated objective of building a resource base sufficient to support a potential restart of the historic operation.

Updated 2026 Mineral Resource Estimate Including First-Time Zone 103N Disclosure

Gold Terra released the first phase of its 2026 Mineral Resource Estimate (MRE) on 15 May 2026, prepared by independent consultants SLR Consulting (Canada) Ltd. with an effective date of 30 April 2026. The estimate covers three deposits within the Yellowknife Project: Yellorex, Zone 103N, and Crestaurum, using a gold price assumption of US$2,600 per ounce. This is the first of a two-part update; a second phase incorporating results from the company's recent 11,000-metre winter drilling programme is planned for Q4 2026.

Zone 103N is a distinct underground mineralised zone within the CMO property, situated along the northern extension of the Campbell Shear structure across approximately 1.6 kilometres on three underground levels, at depths of roughly 600 to 900 metres below surface. The zone was historically drilled and developed during the later years of the Con Mine's operating life and is supported by underground mapping of historical development drifts. This estimate marks the first time it has been reported as a standalone mineral resource.

Zone 103N carries 595,000 Inferred ounces within 5.1 million tonnes at an average grade of 3.64 g/t Au. An Inferred resource, under Canadian reporting standards (NI 43-101), is an estimate based on limited geological evidence and sampling, and carries less certainty than Indicated or Measured categories. Across all three updated deposits, the combined total is 895,000 Inferred ounces and 103,000 Indicated ounces.

Revised MRE Methodology and Conservative Classification Approach

The 2026 MRE reflects updated classification standards relative to the prior 2022 estimate. SLR rebuilt the geological framework using Leapfrog Geo software, requiring a minimum of three confirmed mineralised intercepts before a domain could be established. Drill spacing thresholds were also revised: a minimum of 25 metres between drill holes is required for the Indicated category, and no more than 80 metres for Inferred.

Despite relatively tight historical drilling in certain areas, Zone 103N was classified entirely as Inferred. SLR's rationale was the historical nature of the supporting drill data, which predates modern quality assurance and quality control protocols, rather than drill spacing alone. The Yellorex deposit also saw additional constraints applied, including the introduction of a 50-metre crown pillar beneath the lake and underground resource panel boundaries.

The company stated that the 2026 MRE is more conservative than the 2022 estimate, identifying the revision to resource classification criteria as the primary driver of change. The updated geological framework, the crown pillar application at Yellorex, and the underground resource panel constraints are noted as the other contributing factors, in order of significance.

Upcoming Exploration Programme and Development Milestones

The next planned field activity is a surface drilling programme at Zone 103N, scheduled to begin in June 2026. Zone 103N has to date been characterised through historical underground drilling only, and the company has identified the zone as a target for potential resource expansion through planned surface drill testing.

The second phase MRE update, planned for Q4 2026, will incorporate all results from the recent winter programme, including approximately 4,905 metres drilled at the Walsh Lake zone between January and April 2026. Gold Terra has completed approximately 10,000 metres of drilling at Walsh Lake since 2021, none of which has been incorporated into a formal resource estimate to date.

Chairman and CEO Gerald Panneton said: 

"The Con Mine was closed at a time when gold prices were depressed since 1998 (US$ 256) to 2003 (US$ 340) and they were using a cut of grade of 10 g/t, to keep the Mine going. Compare this to today's gold prices of more than US$ 4,700 per ounce of gold." 

Mr. Panneton added: 

"We look forward to continuing our drilling program on the Campbell Shear and advancing the project towards a pre-feasibility economic study currently planned to be completed in 2027."

Outlook

Gold Terra has outlined the following near-term milestones: surface drilling at Zone 103N beginning June 2026; a second phase MRE update in Q4 2026 incorporating the full winter drilling results; a PEA by year-end 2026; and a pre-feasibility study targeted for 2027. A Technical Report prepared in accordance with NI 43-101 will be filed on SEDAR within 45 days of the 15 May 2026 news release.

‍