Vancouver, British Columbia – 16. Oktober 2023 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) („Gold Terra“ or the „Company“ – https://www.commodity-tv.com/ondemand/companies/profil/gold-terra-resource-corp/) is pleased to announce that hole GTCM23-055 has intersected the upper portion of the high-grade gold-bearing Campbell Shear at a depth of 2,080 meters from surface to test for gold mineralization below the underground workings on the Con Mine Option (CMO) property. Drilling will continue along the Campbell Shear, which typically has a thickness of 150 meters and hosts mineralized zones ranging from 3 to 20 meters in thickness. The CMO property is subject to an option agreement with subsidiaries of Newmont Corporation, which the Company has the right to acquire upon satisfaction of certain conditions, as reported in the Company’s press release dated November 22, 2021. Chairman and CEO Gerald Panneton commented: „A long-awaited moment for all Gold Terra shareholders to intersect the productive Campbell Shear below the former underground workings of the Con Mine and about 250 meters away from existing infrastructure and the Robertson Shaft. The presence of alteration and veinlets in core from the start of the Campbell Shear in hole GTCM23-055 confirms the potential to delineate additional ounces below the former Con Mine. Once this hole is completed approximately 50 to 100 meters below the Campbell Shear, additional wedges will allow for further evaluation of the Campbell Shear structure.“ Hole GTCM23-055 (see Figure 1) is designed to intersect the dipping extension of the productive Campbell Shear zone at depth below the Con Mine deposit (1938-2003), which produced 5.1 million ounces of gold at an average grade of 16 g/t. The core from hole GTCM23-055 displays a classic narrow calcite-dominant veinletting within a chloritic alteration and the injection of a quartz-ankerite veinlet, usually marking the onset of the structure in the core. Figure 2 shows the veinletting in a core photo. Figure 1 – Hole GTCM23-055 intersects the start of the Campbell Shear at 2,080 meters. Figure 2 – Photo of core from hole GTCM23-055 showing the veinletting and alteration. Future Updates Current information on drilling and the Company’s future drilling plans can be obtained on Tuesday, November 7, at 11:20 am (5:20 pm CET) at the Red Cloud Fall Mining Showcase, Sheraton Centre Toronto Hotel, 123 Queen Street West, Toronto, ON M5H 2M9. The focus of the 2023 drill program is to expand the initial Mineral Resource Estimate („MRE“) released in September 2022 (see press release dated September 7, 2022), which outlined 109,000 ounces of gold in the Indicated category and 432,000 ounces of gold in the Inferred category within a 2 km-long corridor of the Campbell Shear from surface to a depth of 400 meters below surface. See the technical report dated October 21, 2022, titled „Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada“ by Allan Armitage, Ph.D., P.Geo., SGS Geological Services, available on the Company’s website at https://www.goldterracorp.com and on SEDAR at www.sedar.com. Qualified Person Joe Campbell, P.Geo., Senior Technical Advisor for Gold Terra, is a qualified person as defined by NI 43-101 and has reviewed and approved the technical information contained in this press release. About Gold Terra The Yellowknife Project (YP) encompasses 918 square kilometers of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories (Canada). Through a series of acquisitions, Gold Terra controls one of the six largest high-grade gold camps in Canada. Being within 10 kilometers 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 focused on drilling the historical Con Mine’s Campbell Shear, which hosted production of 14 million ounces of gold, and surrounding claims which are interpreted to be underlain by the same geology as the historic and current producing mines at the YP, including the Discovery Mine, Komis Mine and Giant Mine. These exploration programs have successfully
