Mr. Gerald Panneton reports

GOLD TERRA WEDGE DRILLING PROGRESSING WELL AT HIGH-GRADE GOLD TARGET, CAMPBELL SHEAR, CON MINE OPTION PROPERTY, NWT

Gold Terra Resource Corp.'s 2025 control drilling is progressing well on the Con mine option property. The first steel wedge hole GTCM25-056A, designed to target the prolific Campbell shear from master hole GTCM24-056, was set at 1,950 metres downhole and has reached approximately 2,162-metre depth in mafic volcanics. It is anticipated to intersect the CS at approximately 2,600 metres downhole and approximately 600 metres below the underground mine workings.

The objective of the 2025 wedge hole drilling program is to continue testing for high-grade gold in the CS (past production of 5.1 million ounces of 16 grams per tonne, refer to the Oct. 21, 2022, technical report) on the Con mine below the historic Con mine underground workings. The CMO property is under option from a subsidiary of Newmont Corp. and is 100 per cent acquirable by the company upon fulfilment of certain conditions set out in the CMO property option agreement, as reported in the company's news release dated Nov. 22, 2021. The target is located downdip from the 5.1-million-ounce mined gold deposit plunging steeply to the south between elevation 1,900 metres (Robertson shaft depth) and 2,600 metres.

Chairman and chief executive officer Gerald Panneton commented: "The wedge drilling is progressing well, utilizing a very efficient and cost-effective way to assess the CS at depth. The objective of our first wedge hole is to intersect the CS and extend the high-grade gold potential at a vertical depth of 2,500 to 2,600 metres below surface, or approximately 600 metres below the current depth of the Robertson shaft. Once we complete the first wedge, we will step up laterally 30 to 50 metres on each side of the first intersection. This target below the Robertson shaft has the potential for multimillion ounces as we are down plunge from a 5.1 Moz deposit of 16 g/t Au mined historically at a rate of one Moz per 200 metres vertical on average."

Wedge hole GTCM24-056A highlights

The CS was initially intersected at depth in hole GTCM23-055, which intersected 12.63 grams per tonne gold over 1.7 metres in the CS structure approximately 150 metres below the Con mine workings, demonstrating the potential of the CS is well open at depth.

Imdex of Sudbury, a contract directional drilling crew, is currently utilizing the DeviDrill cutting tool to deviate the hole with the purpose of flattening the dip to intersect the CS. After setting up a steel wedge down the hole at a depth of 1,950 metres, the tool was used to orientate the hole from 2,005 to 2,081 metres, achieving a flattening from 82 degrees down to 69 degrees. Drilling was then performed from 2,081 to 2,132 metres without the tool. The second deviation, and possibly the last one, started on Monday, Feb. 24, at a depth of 2,132 metres. The hole is currently at 2,162 metres with a dip of 66.5 degrees, and when a 54-degree dip is reached, the deviation tool will be stopped, and drilling will continue until the CS is intersected.

Meet with Gold Terra at the PDAC 2025

Gold Terra is pleased to invite investors and shareholders to meet with management at the PDAC Conference, investors exchange booth No. 2304, March 2 to March 5, 2025, South Building, Metro Toronto Convention Centre, Toronto. On Monday, March 3, 2025, at 3 p.m. EST, Mr. Panneton will be presenting at the PDAC 2024 corporate presentation forum for investors session located in the new Investment Hub theatre, in Hall E, on the investors exchange show floor, 800 level.

The 2025 deep drilling program aims to expand the September, 2022, initial mineral resource estimate (see Sept. 7, 2022, press release) of 109,000 indicated ounces of contained gold and 432,000 inferred ounces of contained gold between surface and 400 metres below surface along a two-kilometre corridor of the Campbell shear (Oct. 21, 2022, mineral resource estimate titled "Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada," by qualified person Allan Armitage, PhD, PGeo, SGS Geological Services, which can be found on the company's website and on SEDAR+.

The technical information contained in this news release has been reviewed and approved by Joseph Campbell, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and senior technical adviser for the company.

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 approximately 14 Moz of gold has been produced (refer to Gold Terra Oct. 21, 2022, technical report) and most recently on the Con mine option property claims immediately south of the past-producing Con mine, which produced 6.1 Moz 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 identified significant zones of gold mineralization and multiple targets that remain to be tested, which reinforce the company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

We seek Safe Harbor.