10:54:03 EDT Tue 18 Jun 2024
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Gold Terra Resource Corp
Symbol YGT
Shares Issued 281,202,484
Close 2023-08-21 C$ 0.065
Market Cap C$ 18,278,161
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Gold Terra Resource appoints Bonneville as director

2023-08-22 11:58 ET - News Release

Mr. Gerald Panneton reports

GOLD TERRA ANNOUNCES APPOINTMENT OF PAUL BONNEVILLE AS DIRECTOR AND GRANTS OPTIONS

Gold Terra Resource Corp. has appointed Paul Bonneville to the board of directors of the company and as a member of the audit committee, subject to approval of the TSX Venture Exchange.

Mr. Bonneville is a mining engineer with over 30 years of experience in the mining industry in Canada. Most recently, he was vice-president and director of PRB Mining Services Inc. with work on many large projects, including operations director for Critical Elements Lithium Corp.'s Rose lithium-tantalum project as well as mine design and feasibility studies for Abcourt Mines Inc. and Bumigeme Inc. Prior to that, he was a consultant for Mine Tech Services; vice-president, operations, for Scorpio Mining; and vice-president, mines, for Cadiscor Resources. He worked for Dumas Contracting as project manager at the Lapa and Goldex shaft projects and for Ross-Finlay Ltd., where he held a range of positions, including project manager at the Bell-Allard shaft project and the Silidor project and at Pan American Silver Corp. He has also managed several overseas operations. Mr. Bonneville is a graduate of Queen's University in mining engineering and a member of several professional affiliations, including Ordre des ingenieurs du Quebec, Professional Engineers of Ontario, Society of Mining Engineers, and the Canadian Institute of Mining and Metallurgy.

"On behalf of the board of directors, I would like to welcome Paul to the board," said Gerald Panneton, chairman and chief executive officer of Gold Terra. "His level of experience and knowledge in mine design, preliminary economic assessment, feasibility studies, operations, underground development, construction and production is a tremendous asset for Gold Terra as we aim towards a potential future development plan."

The board of directors has approved a grant of stock options under the company's stock option plan to its officers, employees and consultants to purchase up to an aggregate of 1,225,000 common shares. The options are exercisable at a price of 10 cents per share for a period of five years and are subject to the policies of the TSX Venture Exchange and the company's stock option plan, which includes a vesting period beginning six months after issue for 25 per cent of the options and 25 per cent every six months following.

About Gold Terra Resource Corp.

The Yellowknife project (YP) encompasses 918 square kilometres of contiguous land immediately north, south and east of the city of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the city of Yellowknife, the YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydroelectric power and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell shear, where 14 million ounces of gold have been produced, and most recently on the Con mine option (CMO) property claims immediately south of the past-producing Con mine, which produced 6.1 million ounces between the Con, Rycon and Campbell shear structures (1938 to 2003).

The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts the former-producing high-grade Con and Giant gold mines. The company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested, reinforcing the company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

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