Mr. Gerald Panneton reports

GOLD TERRA CONFIRMS CAMPBELL SHEAR GOLD POTENTIAL TO A VERTICAL DEPTH OF 2580 METRES, CON MINE OPTION PROPERTY, NWT

Gold Terra Resource Corp.'s wedge hole GTCM25-056A intersected anomalous gold in the Campbell shear (CS) from 2,680.5 to 2,703.5 metres down hole depth on the Con mine option (CMO) property. The results are very encouraging, confirming the existence of the CS more than 600 metres below the mine. The CS intersection is gold and silver anomalous (up to 0.5 gram per tonne Au (gold) and 12.6 g/t Ag (silver)), which the company views as comparable with historical low-grade intersections in the mine that were outside the previous mined high-grade shoots.

In addition, higher-grade gold values (7.81 g/t Au over 0.5 metre) were intersected in the footwall of the CS within brecciated pyrite-pyrrhotite quartz veins, identical to the lowest levels of the mine. The CS was initially intersected at depth in hole GTCM23-055, with 12.63 g/t Au over 1.7 m (refer to Nov. 15, 2023, news release), 200 metres below the existing historic underground workings.

Chairman and chief executive officer Gerald Panneton commented: "Hole GTCM25-056A confirms the gold potential of the CS at more than 600 metres below the current depth of the historic Robertson shaft (negative 1,900 metres). The gold and silver anomalous CS intersection of 23 metres is typical of a pinch section of the usual wider or swelling altered CS. With this technical success and confirmation of the CS potential at depth, we can pause the deep drilling and focus on our targets near surface. As such, there is no need to spend more money from surface, as the CS potential is confirmed."

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 g/t), refer to Gold Terra's Oct. 21, 2022, technical report) on the Con mine below the historic Con mine underground workings. Under the CMO agreement, the company has the right to acquire 100 per cent of the CMO property from a subsidiary of Newmont Corporation, subject to the fulfillment of certain conditions set out in the agreement, as reported in the company's news release dated Nov. 22, 2021.

Wedge hole GTCM24-056A highlights

The drilling initially intersected a gold anomalous zone between 2,680.5 to 2,703.5 metres down hole depth in the CS with chlorite dominant alteration with assay results between 0.1 g/t and 0.54 g/t. This intersection is comparable to historical low-grade intersections in the mine that were outside the high-grade shoots but were in general proximity to higher-grade zones.

Further down the hole, gold was intersected in the brecciated style veins. From 2,773.38 to 2,824.74 metres down hole depth brecciated veins with pyrrhotite (po)-pyrite (py) were intersected, including 7.81 g/t Au over 0.5 metre, and 3.36 g/t over 0.5 metre, as well as multiple narrow veinlets with assays between 0.28 and 0.92 g/t Au over 0.5- to 1.0-metre sample lengths.

Historical drilling in the deepest parts of the Con mine targeting the CS reported significant changes to the shear character. In shallower levels the shear was dominantly sericite altered with abundant arsenopyrite (aspy) in laminated quartz veined gold shoots. Deeper in the mine the gold shoots were dominantly chlorite altered shears, and the highest-grade quartz veins were brecciated with dominant py-po mineralization and minimal aspy. Hole GTCM-25-056A encountered examples of both these styles.

The narrower 23 metres CS intersection is typical of a pinch/squeeze in the CS that is commonly observed in upper areas of the Con mine, but which can be proximal within a few tens of metres of the CS carrying high-grade gold. As such the limited drilling to date is considered highly encouraging within the CS intersection. The footwall brecciated veins, typical of deep high-grade mineralization styles at the Con mine, again display characteristics indicative of potential proximity to a high-grade shoot. Both these zones are confirmation of the Con mine structures and the continuation of gold mineralization 600 metres below current mine working.

The 2023 to 2025 deep drilling programs have successfully confirmed that the CS continues to a depth of at least 2,580 metres vertical below surface and has the potential to be a large gold contributor at depth, and below the Robertson shaft. However, the cost of the deep drilling and directional drilling over the last two years does not make economic sense to carry on. A better approach is to do it from underground access in the future. The deep drilling demonstrates that the CS is present at depth and has opened up a much larger area for drilling of approximately one kilometre strike length by 600 metres vertical.

This news release reports the assay results from wedge hole GTCM25-056A from which 82 NQ sized core samples were assayed. Assays results range from non-detectable gold to a highest assay of 7.81 g/t Au. The company inserts certified standards and blanks into the sample stream as a check on laboratory quality control (QC). Drill core samples are cut by diamond saw at Gold Terra's core facilities in Yellowknife. A halved core sample is left in the core box. The other half core is sampled and transported by Gold Terra personnel in securely sealed bags to ALS preparation laboratory (ALS) in Yellowknife. After sample preparation, samples are shipped to ALS's Vancouver facility for gold analysis. Gold assays of greater than three g/t are reassayed on a 30-gram split by fire assay with gravimetric finish. Samples with visible gold are additionally assayed using a screen metallic method. ALS is an independent certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.

Drill holes were drilled at right angles to the structure hosting the mineralization and dip angles of holes were designed to intersect the zones as close to normal as possible. Zones reported here are interpreted to be approximately 90-per-cent true thickness.

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.

Webinar

The company is hosting a webinar on Tuesday, May 27, at 4 p.m. ET. Please join us to hear chairman and CEO Gerald Panneton discuss the company's exploration strategy for high-grade gold in the Yellowknife gold belt.

Participant access code:  390082

Toll-free:  888-506-0062

International:   973-528-0011

Osisko Gold Royalties exercise

Osisko Gold Royalties Ltd. has completed the exercise of the first tranche of its agreement with Gold Terra, and Gold Terra has received payment of $2.0-million accordingly.

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 CMO 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 successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

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