11 April 2023
Vancouver, BC – April 11, 2023 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) (“Gold Terra” or the “Company”) is pleased to announce that Phase 1 of Gold Terra’s 2023 winter drilling program has been completed on the Con Mine Option Property (the “CMO Property”) with the objective of expanding the September 2022 initial Mineral Resource Estimate ("MRE") (see September 7, 2022 press release). To date, 13 drill holes have been completed on Yellorex North, Yellorex at depth, and Kam Point for a total of 5,769 metres drilled between surface and to a depth of 600 metres. Assays are pending for 12 holes. The CMO Property is under option from subsidiaries of Newmont Corporation and is acquirable by the Company upon fulfillment of certain conditions set out in the CMO Property agreement, as reported in the Company's news release dated November 22, 2021.
In addition, preparations are underway for the deep drilling program which will test gold mineralization at depth below the Con Mine workings where geological modeling indicates high potential for finding additional ounces.
Chairman and CEO, Gerald Panneton, commented, "Phase 1 of the winter drilling program has been successful as all holes have hit the targeted Campbell Shear and show significant intersections of visible multi-meter veining and sulphide mineralization. With 10 holes drilled in the Yellorex North area, we are confident that the results will warrant further drilling in 2023. We are now preparing for a deep drill hole targeting gold mineralization at depth below the historic Con Mine workings. 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). We expect to have results for the remaining Phase 1 drill holes in the coming weeks.”
All 13 drill holes intersected the Campbell Shear mineralization and were located on Yellorex North (10 holes), Yellorex at depth (1 hole), and Kam Point (2 holes) target areas as shown in the Figure 1 below: