NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / July 6, 2026 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ("Gold Terra" or the "Company") is pleased to announce a non-brokered private placement under the Listed Issuer Financing Exemption (defined below) (the "Offering"), including significant participation from strategic shareholder, David Harquail. The Offering is expected to consist of 20 million common shares of the Company (the "HD Shares") at an issue price of C$0.18 per HD Share for gross proceeds of C$3,600,000, 20 million charity flow-through common shares of the Company (the "CFT Shares") at an issue price of C$0.25 per CFT Share for gross proceeds of C$5,000,000 and 5 million flow-through common shares of the Company (the "FT Shares") at an issue price of C$0.22 per FT Share for gross proceeds of C$1,100,000. The CFT Shares and the FT Shares will qualify as "flow-through" shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act")). The HD Shares, the CFT Shares and the FT Shares are collectively referred to herein as the "Offered Securities".
The Offering is non-brokered with no warrants, is expected to close on or around July 24, 2026 and is subject to certain conditions, including the acceptance of the TSX Venture Exchange. Notwithstanding the foregoing, the closing must occur no later than the 45th day following the date of this news release.
The net proceeds from the Offering will be used for general corporate purposes and for the drilling program currently scheduled to start in July / August 2026. There will be two planned programs run concurrently which are anticipated to confirm and add ounces of gold, both on the Con Mine Option property, under option from a subsidiary of Newmont Corporation, as follows:
The northern extension of the Campbell Shear target, or zone 103 N where the Company's most recent Inferred Mineral Resource Estimate has outlined 595,000 Inferred ounces within 5.1 million tonnes grading 3.64 g/t between 600m and 900m below surface (see the Company's technical report entitled "NI 43-101 Technical Report Yellowknife Project, Yellowknife, Northwest Territories, Canada" with an effective date of April 30, 2026), and
The Con Mine historical on-site tailings, where a total of approximately 12 Mt of process ore residues were placed between 1938 and 2003. As past production was recorded with grades averaging up to 24 g/t gold, and average recoveries between 88% and 93.5%, the Company believes that the historical tailings could contain gold with an average of between 1 and 2 g/t gold. The program will be testing the Upper Pud and Middle Pud tailings areas currently planned to start in August 2026 with an initial pattern of 50m x 50m. The Company also believes that, since a gravity circuit was only installed in the late 1980s with Nerco, that some residual coarse gold could be present in the lower levels of the historical tailings.