Drilling At The Yellorex North Zone - Con Mine Option Property

VANCOUVER - Gold Terra Resource Corp. reported on the drilling program at the Yellorex North zone during the Phase 1 program on the Con Mine Option (CMO) Property in Yellowknife, NWT. The drilling program was designed to expand the Yellorex North gold zone between surface and 300 meters below surface. 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 agreement.

Chairman and CEO, Gerald Panneton, said, "The drilling results indicate a well-developed gold system in the Yellorex North zone and the expansion of the zone at depth which is open in all directions. The zone will require additional drilling and will be part of our next drill program. All ten completed holes on Yellorex North hit the targeted Campbell Shear and the results are highly encouraging and supporting additional drilling. 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). "

Alteration, veining, and mineralization suggest a well-developed gold system in each drilled hole with an indication of both an upper zone (in hole GTCM23-045) and a deeper zone (in holes GTCM22-039 and GTCM23-048) of mineralization. Hole GTCM23-045 intersected: 1.7 g/t Au over 4.34 meters from 172-176.34 meters including 3.96 g/t Au over 1.36 meters from 173.5-174.86 meters. GTCM23-045 showed smoky quartz veining with strong sericite alteration, significant pyrite and needle-like arsenopyrite mineralization, and successfully expanded the shallower portion of Yellorex North zone.

GTCM23-048 intersected 4.31 g/t Au over 2 meters from 383-385 meters and 3.06 g/t Au over 6 meters from 392-398 meters. GTCM23-048 contained abundant quartz veining and exhibited strong mineralization consisting of pyrite, arsenopyrite, stibnite and trace sphalerite. This hole successfully expanded the deeper portion of Yellorex North to depth and shows that the strong mineralization system continues at depth and remains open in three (3) directions.

Holes GTCM23-045 and 048 represent distinct lenses of mineralization within the Campbell Shear at Yellorex North. As it appears that the southern extend of Yellorex North is truncated by the oblique-angled Pud Fault, it is evident that an additional exploration target exists ~300 meters to the south-southeast along the primarily strike-slip fault, where it is postulated that the southern portion of Yellorex North has been off-set to. It means that the zone is open on the other side and will be tested again in the near future.

Three holes, GTCM23-043, 046 and 047 intersected zones of anomalous gold mineralization. Hole GTCM23-043 intersected anomalous gold such as 0.51 g/t Au over 9 meters from 256-265 meters and 1.65 g/t Au over 1.0 meter from 277-278 meters indicating the hole represents a narrow gap between the two mineralized horizons within the Campbell Shear. GTCM23-046 and 047 were designed to explore the northern extents of Yellorex North in an area that has seen little historical drilling. Both holes successfully encountered the Campbell Shear and returned 17.5 meters and 20 meters respectively of anomalous low-grade gold. These broad anomalous zones are interpreted to be the marginal, low-grade halos of high-grade zones.

GTCM23-044 was "faulted" and intersected the footwall zone of the Campbell Shear as the hole was targeting the Yellorex North zone nearby the Pud Fault. The upper portion of the Campbell Shear was offset some 300 meters to the east along the Pud Fault.

The Pud Fault is a post-mineralization feature and was intersected as a 15-centimeter-wide fault gouge at 318 meters. As this program has defined high-grade gold adjacent to the Pud Fault, the faulted-offset of the Yellorex North zone nearby to the east has emerged as a strong target for future exploration. This target is notably located in an area that has seen little historical drilling.

In addition, GTCM23-042 intersected 5.3 g/t Au over 6.43 meters and was designed to verify and add depth extension to historical high-grade mineralization encountered in the Yellorex North zone of the Campbell Shear. Ten near surface drill holes have been completed on Yellorex North. The zone is only 1 kilometer south of existing infrastructure, the C1 shaft, and above the level 2300. It was previously tested only by one hole in 2022, GTCM22-039, which returned two mineralized zones returning 3.31 g/t Au over 6.00 meters from 306.0 to 312.0 meters and including 5.39 g/t Au over 2.0 meters from 309.00 to 311.00 meters, and 2.18 g/t Au over 5.0 meters from 324.00 meters to 329.00 meters.