Recent Drilling Hits High-Grade Gold at Near Surface Yellorex Zone

• Gold Terra Resource (YGT) announces high-grade gold results in its recent press release.
• The company is focused on the Yellowknife City Gold Project, particularly the Yellowknife Shear Zone.
• They've confirmed the significance of the Yellowknife Shear Zone with assays of 5.3 grams over 6.5 meters.
• Gold Terra aims to develop a near-surface resource with more drilling and possibly add more holes before April 15.
• The company's strategy involves focusing on high-grade deposits for potential growth, adapting to market conditions, and seeking financing opportunities for further exploration and development.

About Gold Terra Resource Corp.

Gold Terra Resource Corp (TSX-V:YGT; OTCQX: YGTFF; Frankfurt: TX0) recently announced promising results from the start of its 2023 winter drill program at the high-grade Yellowknife City Gold project in Canada’s Northwest Territories. The company intersected an impressive 5.3 g/t gold over 6.5 meters at the near surface Yellorex North Zone, just 25 meters away from a previous hole that returned 5.6 g/t gold over 6 meters.

According to Chairman and CEO Gerald Panneton, these exceptional drill results confirm the importance and consistency of mineralization at the Yellorex Zone. By showing the width and continuity of high-grade gold mineralization close to surface, Yellorex enhances the potential for Gold Terra to delineate a significant open-pittable resource in this area.

Interview with Chairman & CEO, Gerald Panneton

Yellorex Could Add 1M Ounces of High-Grade Starter Pit Material

Panneton stated that with additional drilling, the Yellorex zone and other shallow satellite zones being tested have potential to rapidly add over 1 million ounces of high-grade starter pit mineralization. Mineable ounces discovered right at surface would require lower capital costs to develop, utilizing existing infrastructure from the past-producing Con mine nearby.

The starter pit material being delineated at Yellorex would complement the current underground-focused 1.2 million ounce inferred high-grade resource, providing Gold Terra with a low-cost production profile in the early years to complement the robust project economics.

Current 1.2M Ounce Inferred Resource Valued at $500 Million

The current 1.2 million ounce inferred resource is focused around the flagship Yellowrex zone, which contains approximately 300,000 ounces grading a spectacular 9 g/t gold. According to Panneton, this high-grade Yellowrex resource alone carries a value of around $500 million at today's gold prices. With continued expansion drilling, Gold Terra aims to continue growing Yellowrex and other zones to build multi-million ounce resources at this emerging district-scale gold camp.

Targeting 2M Ounce Threshold to Support Feasibility Study

Gold Terra’s prime objective is to expand current resources towards a 2 million ounce threshold which would support completing a feasibility study and future production scenario. The company controls a massive 800 square kilometer land package surrounding the city of Yellowknife, situated along the same mineralized Campbell shear structure that generated over 13 million ounces of gold production from the former high-grade Giant mine.

With such vast underexplored territory along a proven gold-bearing structure, Gold Terra's sizable land package provides substantial upside for potentially delineating district-scale total gold resources in the 5+ million ounce range over time.

8,000 Meter Drill Program Underway Focused on Expansion

While tight capital markets have constrained the drill program this year, Gold Terra has an 8,000 meter winter campaign underway focused on expanding the high-grade near-surface Yellorex zone and testing some deeper targets below the former Con mine that Panneton believes could host an additional 2 million ounces of high-grade gold mineralization.

Fully Funded for 2023, Trading at Steep Discount to Peers

With approximately $3 million in the treasury, no debt, and only 89 million shares fully diluted, Gold Terra is funded for its planned 2023 exploration. The current enterprise value of around $35 million represents just a fraction of the estimated $500 million value of the company's existing 1.2 million ounce gold resource. As Gold Terra continues expanding resources ahead of feasibility studies, the opportunity to still acquire shares at such a steep discount valuation likely won't last much longer.

Compelling Opportunity in Premier Canadian Gold District

With proven high-grade gold mineralization starting at surface, existing regional infrastructure, strong financial position, and massive upside exploration potential along a gold-rich structure, Gold Terra represents a truly compelling speculative investment opportunity. Gold Terra has quietly assembled all the ingredients for its next major Canadian gold discovery and production scenario in the heart of the Yellowknife district. Investors seeking high-quality gold exposure are encouraged to take a close look at this overlooked emerging player while it still trades at a substantial discount to peers.