Mr. Gerald Panneton reports

GOLD TERRA DRILLING SUCCESSFULLY INTERSECTS CAMPBELL SHEAR GOLD TARGET AT A VERTICAL DEPTH OF 2,560 METRES BELOW SURFACE, CON MINE OPTION PROPERTY, NWT

Gold Terra Resource Corp.'s first wedge hole, GTCM25-056A, has intersected the Campbell shear (CS) from approximately 2,665 metres to 2,707 metres downhole (vertical depth of 2,560 metres below surface), with the best visual mineralization concentrated between 2,689.30 and 2,707 metres downhole, on the Con mine option (CMO) property. Wedge hole GTCM25-056A was stopped at 2,837 metres downhole in volcanic rocks. Core samples have been sent to the lab and assays are pending. The program is continuing with a lateral wedge hole (GTCM25-056B) 100 metres north at the same target elevation.

In other news, the company received an acknowledgment notice from Newmont Canada FN Holdings ULC that the company has satisfied the requirement to incur an aggregate amount of $8-million (unaudited) in qualifying expenditures in exploration work on the Con mine option property pursuant to the Con mine option agreement.

Gold Terra chairman and chief executive officer Gerald Panneton commented: "We are very excited to have intersected the CS around 2,665 metres downhole, or approximately 600 metres below the current depth of the historic Robertson shaft. This intersection proves our model, which show the high potential for the CS continuation at depth downplunge from a 5.1-million-ounce deposit at 16 grams per tonne gold, which was mined historically at a rate of approximately one million ounces per 200 metres vertical on average."

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 at 16 grams per tonne; refer to the Oct. 21, 2022, technical report) on the Con mine below the historic Con mine underground workings. The Con mine option 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 (historic Robertson shaft depth) and 2,600 metres.

Wedge hole GTCM24-056A highlights

The CS zone starts at around 2,665 metres downhole, signified by an intensifying zone of crackle-style calcite brecciation and veining. From 2,681.20 metres downhole, shearing is more intense, including some intervals with more veining, such as from 2,689.30 metres to 2,697.70 metres downhole, and containing laminated smoky quartz veins with up to 2 per cent disseminated fine-grained-to-medium-grained pyrite and 1 per cent blebby fine-grained pyrrhotite. Sphalerite is also noted.

Between 2,697.70 metres and 2,707 metres downhole, veining transitions to more crackle-style calcite with minor pyrite and pyrrhotite. Deformed pyrite grains aligned with shear fabric suggest continued but diminishing deformation. A final chlorite-biotite altered pulse with trace arsenopyrite and pyrrhotite is noted at 2,706.80 metres downhole.

Beyond 2,707 metres downhole and to the end of the hole, shearing is absent and chloritic alteration and calcite crackle and breccia textures occur. This material may represent the footwall, which is noted to continue substantially beyond the main shear zone or an internal block (or horse) within the shear system, as referenced in historical Con mine documentation

The CS was initially intersected at depth in hole GTCM23-055, which intersected 12.63 grams per tonne gold over 1.7 metres (refer to Nov. 15, 2023, news release) in the CS structure approximately 150 metres below the Con mine workings, demonstrating the potential of the CS is well open at depth.

The mineralization in drill hole GTCM25-056A is concentrated between 2,689.30 metres and 2,706.95 metres downhole.

The 2025 deep drilling program aims to expand the September, 2022, initial mineral resource estimate (MRE) (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, MRE titled "Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada," by qualified person Dr. 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 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 Yellowknife project 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 million ounces of gold have been produced (refer to Gold Terra's Oct. 21, 2022, technical report), 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 Yellowknife project and the CMO property 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; this reinforces the company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

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