Gold Terra Announces Fall Drilling with Three (3) Rigs Active on the Con Mine, Yellowknife, NWT
VANCOUVER, BC / ACCESS Newswire / September 17, 2026 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQB:YGTFF) ("Gold Terra" or the "Company") is pleased to announce that the 2026 Fall drilling program which started in July is adding two more rigs on the Con Mine Option Property (CMO) with the aim of contributing additional ounces for the upcoming Preliminary Economic Assessment (PEA) study. Drilling has commenced on the following CMO target areas:
- Zone 103 North - twinning and expanding
- Historical Con Mine Tailings Storage Facility (TSF), and
- Yellorex - near surface drilling and metallurgical test work.
Under the purchase agreement, the Company has the right to acquire 100% of the CMO property from a subsidiary of Newmont Corporation ("Newmont"), subject to the fulfillment of certain conditions set out in the agreement, as reported in the Company's news release dated November 22, 2021. Gold Terra's option on the CMO with Newmont is valid until November 21, 2027.
Chairman and CEO, Gerald Panneton, commented, "We have started a very focused Fall drilling program with the objective of delineating additional ounces. The start of the sonic drilling on the historical Tailing Storage Facility (TSF) may be very positive for the future restart of the operation as the tailing residue from the past operation (1938-2003), has the potential to add ounces to our recent June 2026 Technical Report initial MRE. The benefits of these ounces translate into a potential low-grade stockpile that can be easily accessible in the early days of the potential future restart."
Con Mine Tailings Storage Facility (TSF) Sonic Drilling
Drilling is scheduled to begin at once, with one sonic drill and a second one may be added. The program aims to test the historical TSF and its gold potential with a 40x40 metre grid as outlined in the Company's August 24, 2026 news release and shown in Figure 1 below. The total program is scheduled to include 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 10-30 metres deep. The objective of this drill program is to delineate ounces to complete a Mineral Resource Estimate on the historical Con Mine Tailings;
Zone 103 North Drilling
There is currently one diamond drill turning on the CMO with the objective of defining and confirming the resource potential of Zone 103 N, which has historically been drilled and delineated from underground. The Campbell shear was intersected successfully with the first two holes, first in master hole GTCM26-061, and secondly in the northern wedge of GTCM26-061a which was completed recently (see attached Table 1 below with geological descriptions). Both holes have successfully intersected Zone 103 N of the Campbell Shear. At 848.52 metres, wedge hole GTCM26-061a intersected a 0.15 metre quartz vein within the shear hosting flecks of VG, trace Sb, Py and As, shown in Photo 1 further below. Assays are currently pending for both holes. Two more wedges will be placed from the master hole, and then the rig will be moving along the 1.6 km trend to test the up-dip and downdip of Zone 103 N. Zone103 N currently contains a mineral resource as per the recently released 2026 MRE (see June 26 Technical Report) prepared by SLR, which includes an initial MRE for Zone 103N consisting of: Underground Inferred Mineral Resource of 5,083,000 tonnes averaging 3.64 g/t Au for 595,000 ounces of contained gold, using a cut off grade of 2.2 g/t. Hole GTCM26-061a recently completed has also intersected the Campbell shear with a very good intersection of 5.3 metres from 845.6 to 850.9 metres:
Table 1 - Hole GTCM26-061a Geological Descriptions Downhole Log
From (m) | To (m) | Total (m) | Lithology | Notes |
804.1 | 839.3 | 35.2 | GABBRO | Moderately sheared fine grained gabbro |
839.3 | 843.5 | 4.2 | ZONE | Moderately sheared, pervasive ankerite, patchy weak sericite, TR PY |
843.5 | 845.6 | 2.1 | ZONE | Moderately sheared, pervasive ankerite, patchy moderate sericite, PY and TR ASPY |
845.6 | 846.7 | 1.1 | ZONE | Strongly sheared, pervasive sericite, patchy chlorite, PY, ASPY,smokey qtz |
846.7 | 848.1 | 1.4 | ZONE | Moderately sheared, pervasive ankerite, patchy moderate sericite, PY and TR ASPY |
848.1 | 849.2 | 1.1 | ZONE | Strongly sheared, pervasive strong sericite, pervasive silica, top of lith has 60cm qtz vein hosting trace VG, ASPY, PY, TR STIB. rest of lith is hosting ASPY, PY, TR ASPY needles, patchy smokey qtz throughout |
849.2 | 850.9 | 1.6 | ZONE | Strongly sheared, pervasive sericite, patchy chlorite, PY, ASPY, smokey qtz + Visible Gold |
850.9 | 857.0 | 6.1 | ZONE | Moderately sheared, patchy ankerite, patchy sericite, calcite stringers/crackle TR PY |
857.0 | 878.0 | 21.0 | GABBRO | Weakly sheared, crackle calcite veining in gabbro, overall lack of quartz veining; EOH |
The initial drill hole GTCM26-061, wedge hole GTCM26-061a, and additional drilling targets are shown in Figure 2 below:
Yellorex In fill and Metallurgical Sampling Drilling
A diamond drill has been mobilized and scheduled to start a short drill program of approximately 3,000 metres on the upper part of the Yellorex deposit area.
The program aims at completing some drill holes in the upper part of the deposit that were not accessible this past winter.
Financing
As the Company has recently announced that it has raised approximately C$ 10.1 million, the Company is well-funded to allocate a total of approximately C$ 7.2 million to the ongoing Fall drill programs on Zone 103N, the historical tailings, and the Yellorex and metallurgical program.
Qualified Persons
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 Advisor for the Company.
About Gold Terra
The Yellowknife Project (YP) encompasses 836 sq. km 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, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the Campbell Shear, where approximately 14 Moz of gold has been produced in the past, (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 (1938-2003).
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 which reinforces the Company's objective of seeking to re-establish Yellowknife as one of the premier gold mining districts in Canada.
Visit our website at www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, Chairman & CEO
gpanneton@goldterracorp.com
Mara Strazdins, Investor Relations
Phone: 1-778-897-1590 | 416-710-0646
strazdins@goldterracorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
Cautionary Note to United States Investors
The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this news release are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended ("CIM Standards"). The U.S. Securities and Exchange Commission (the "SEC") has adopted amendments effective February 25, 2019 (the "SEC Modernization Rules") to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934. As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources", which are defined in substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral Reserves" to be substantially similar to the corresponding CIM Standards.
U.S. investors are cautioned that while the foregoing terms are "substantially similar" to corresponding definitions under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Standards. Accordingly, there is no assurance any Mineral Resources that the Company may report as "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources" under NI 43-101 would be the same had the Company prepared the Mineral Resource estimates under the standards adopted under the SEC Modernization Rules. In accordance with Canadian securities laws, estimates of "Inferred Mineral Resources" cannot form the basis of feasibility or other economic studies, except in limited circumstances were permitted under NI 43-101.
Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.
All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding the current drilling on the Campbell Shear, potentially adding ounces to the Company's current YP mineral resource, and the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and annual information form available under the Company's profile at www.sedar.com.
Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
SOURCE: Gold Terra Resource Corp.
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