Mr. Gerald Panneton reports

GOLD TERRA ANNOUNCES START OF DRILLING ON THE CAMPBELL SHEAR NORTHERN ZONE 103N EXTENSION TO EXPAND 2026 MRE OF INFERRED 595,000 OUNCES, CON MINE, YELLOWKNIFE, NWT

Drilling has started on Zone 103N, considered to be the northern extension of the Campbell shear within the historical Con mine and part of the Con mine option (CMO). Under the purchase agreement, Gold Terra Resource Corp. has the right to acquire 100 per cent of the CMO property from a subsidiary of Newmont Corp., subject to the fulfilment of certain conditions set out in the agreement, as reported in the company's news release dated Nov. 22, 2021. Gold Terra's option on the CMO with Newmont is valid until Nov. 21, 2027.

Chairman and chief executive officer Gerald Panneton commented: "Zone 103N along the Campbell shear has excellent potential to delineate additional ounces. Our recent June, 2026, technical report includes an initial MRE [mineral resource update] of approximately inferred 595,000 ounces at Zone 103N within the Con mine option property, underscoring its potential at depth. Zone 103N could be a contributor to the potential restart of the Con mine and is part of the preliminary economic assessment currently scheduled to be completed by year-end 2026."

The newly released 2026 MRE (see June 26 technical report) prepared by SLR, includes an initial MRE for Zone 103N of:

• Underground inferred mineral resource of 5,083,000 tonnes averaging 3.64 grams per tonne gold for 595,000 ounces of contained gold.

The newly re-evaluated historical Zone 103N is the Campbell shear continuation to the north of the CMO property, which was developed in the later years of Con mine's operating life and includes underground development and drilling data. Zone 103N was historically drilled from the Con mine underground development in the northern extension of the Campbell shear (CS) structure. The CS northern extension can be followed for 1.6 kilometres on three different levels (2600, 2900 and 3100) or approximately 600 metres to 900 metres below surface. Zone 103N has excellent potential to increase the number of ounces on the project.

Additional claims staked

The company has staked and confirmed that three recently recorded mineral claims, YGT 2, YGT 3 and YGT 4, are active and held 100 per cent by Gold Terra. Newly staked mineral claim YGT-2 comprises the extension of the Campbell shear along Zone 103N starting north of UTM co-ordinates N06973050. All ounces north under YGT-2 are 100 per cent owned by Gold Terra.

Financing

The company has also recently announced that it has raised approximately $9.2-million, of which a total of $7.2-million is aimed at the continuing drill program on Zone 103N, the historical tailings and Yellorex technical program.

Coming activities:

• Zone 103N drilling extension of the Campbell shear zone;
• Historical drilling of the Con mine tailings currently scheduled to start in August, 2026;
• Yellorex drilling and metallurgical sampling currently scheduled to start in September, 2026;
• A preliminary economic assessment (PEA) is currently anticipated by year-end 2026 and is anticipated to include all the winter drilling of 2026 and some of the current drilling.

Qualified person

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 836 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 historical 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 Campbell shear, where approximately 14 million ounces of gold has been produced in the past, (refer to Gold Terra's Oct 21, 2022, technical report) and most recently on the 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 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 zones of gold mineralization and multiple potential targets that remain to be tested; this reinforces the company's objective of seeking to re-establish Yellowknife as one of the premier gold mining districts in Canada.

Information concerning estimates of mineral resources

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an inferred mineral resource could ever be mined economically. It cannot be assumed that all or any part of measured mineral resources, indicated mineral resources or inferred mineral resources will ever be upgraded to a higher category. The mineral resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the technical report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.

We seek Safe Harbor.