Mr. Gerald Panneton reports

GOLD TERRA ANNOUNCES VISIBLE MINERALIZATION IN HOLE CMUP-005 IN EARLY SONIC DRILLING AT THE CON MINE HISTORICAL TAILINGS, YELLOWKNIFE, NWT

Gold Terra Resource Corp. has discovered visible gold in early sonic drill hole, CMUP-005, at a depth of 25 to 26 metres. The 7,000-metre program, which started on Sept. 19, is progressing well with 17 holes and 429 metres completed to date on the former Con mine's historic tailings, which are part of the Con mine option (CMO). Under the purchase agreement, the company 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: "Drilling the historic tailings was always a viable target on the Con mine property. Gold Terra's strategy is to seek and add potential additional ounces to its mineral resources on the CMO. We expect to find gold in the historical tailings that could become a very accessible source of gold already crushed and grinded. But, to discover visible gold so early is not a surprise, as Con mine operated without a gravity circuit until the eighties. Having a low-grade gold stockpile right at surface will provide access to an easier accessible ore stockpile to feed the future processing plant at a larger throughput and provide steady mill feed to the potential future restart of the operation."

Visible gold found in sonic drill hole CMUP-005

Visible gold was found in hole CMUP-005 at 25 to 26 metres downhole. The discovery of visible gold in the tailings drilling is important as it confirms the company's strategy and valuation of its gold content in residues after historical processing. The historical tailings represent a compelling exploration target as the material originated from mined ore graded between 16 and 22 grams per tonne gold over the course of the mine operation between 1938 and 2003. There is a possibility of finding a certain amount of gold in the historical tailing since previous recoveries were between 85 and 95 per cent (see 2026 National Instrument 43-101 technical report).

Highlights of the drilling program

The program aims to test the historical TSF (tailings storage facility) and its gold potential with a 40-by-40-metre grid as outlined in the company's Aug. 24, 2026, news release. The total program will consist of approximately 7,000 metres of drilling and will consist of a strategic grid pattern to define areas of variable grade. Holes will be on average 10 to 30 metres deep. The sonic drilling is being carried out by 403 Drilling and ALS is doing the analyses on the tailings.

The objective of the drilling program is to evaluate the gold potential of the historic tailings as a potential source of additional gold ounces, complementing the company's underground and near-surface exploration targets. The program is designed to establish the tonnage and grade of the tailings and support metallurgical testing to assess potential gold recovery.

Qualified person

The technical information contained in this news release has been reviewed and approved by Joseph Campbell, a qualified person as defined in NI 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 YCG 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, reinforcing the company's objective of seeking to re-establish Yellowknife as one of the premier gold mining districts in Canada.

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