Mr. Gerald Panneton reports

GOLD TERRA CONTRACTS SLR FOR PRELIMINARY ECONOMIC ASSESSMENT ON THE CON MINE PROPERTY AND THE CRESTAURUM DEPOSIT, YELLOWKNIFE, NWT

Gold Terra Resource Corp. has engaged SLR Consulting (Canada) Ltd. to complete a preliminary economic assessment (PEA) prepared in accordance with National Instrument 43-101 to assess the potential of the Con mine property and its future development potential, which includes the Yellorex area, Zone 103N and also the gold content in the historical tailings. In addition, the PEA will also include the development of a satellite deposit, Crestaurum, located approximately 20 kilometres northwest of Yellowknife, NWT, and part of the Yellowknife project (YP).

The PEA has already started and is currently anticipated to be completed in December, 2026, with the objective of completing all the necessary studies to a level of a prefeasibility study (PFS) and to position the project toward the short-form permitting process, including a new mine plan, progressive remediation and a future closure plan. This engagement represents a key milestone in the company's growth strategy as the PEA is expected to provide a good foundation for the potential future development of the project.

Chairman and chief executive officer Gerald Panneton commented: "The PEA study is the major step towards bringing the project towards possible development and potential future production. The PEA is to be based on the recent May 15, 2026, press release announcement on adding 595,000 inferred ounces within 5.1 million tonnes grading 3.64 grams per tonne gold on the 103N zone and the updated mineral resource study due in September, 2026, with the addition of almost 20,000 metres of drilling unaccounted for. After spending nearly $19-million in drilling, we look forward to the potential restart of the historic Con mine once the purchase is completed (see news release Nov. 22, 2021)."

SLR was selected based on its extensive experience in mining engineering, mineral economics and project development. SLR recently completed an updated 2026 mineral resource estimate on the Yellorex, Zone 103N and Crestaurum deposits, all part of its YP (refer to the May 15, 2026, press release).

SLR will act in capacity of lead consultant. SLR has retained the services of Nordmin Engineering Ltd. of Thunder Bay, Ont., to undertake some of the study scope of work, notably engineering associated with the site and mine infrastructure and the process plant.

WSP Canada Inc., a global engineering and professional services firm, will be responsible for part of the study pertaining to the PFS of tailings storage facility and to the environmental studies, permitting and social impact.

WSP has already completed a conceptual design of a downstream tailing storage facility that is contained within the mining lease boundaries of the Con mine, which seeks to simplify the project footprint without requiring additional surface rights.

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 historical 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 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 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 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.

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.

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