Gold Terra Announces 2023 Annual General and Special Meeting Results

The shareholders elected Gerald Panneton (Chair), Patsie Ducharme, Laurie Gaborit, and Hellen Siwanowicz as directors of the Company for the forthcoming year. 

Louis Dionne has stepped down as a director but will continue as a Senior Technical Advisor for Gold Terra on an as-needed basis. Mr. Dionne, a seasoned mining engineer, brings a wealth of expertise to the Company with many achievements over his career span. Mr. Dionne was director at Detour Gold Corporation (Detour) from 2006 to 2014 and an instrumental part of the team that helped build the Detour Lake mine into the largest Canadian gold mine. Prior to his involvement with Detour, he was mine manager at Camflo Mines in Quebec, under the late Bob Smith, which eventually became Barrick Gold Corporation (Barrick). Mr. Dionne spent over 20 years in the operations, development, mergers, and acquisitions of gold properties as Senior Vice President, Underground Operations for Barrick. He developed the high grade Meikle mine and Rodeo project in Nevada and the Holt-McDermott Mine in Ontario. Following his tenure at Barrick, Mr. Dionne became President and CEO of Richmont Mines Inc. (2002 -2005), a junior gold producer with operations in Quebec and Newfoundland. During his tenure, he was instrumental in the acquisition of the Island Gold mine, now owned by and operated by Alamos Gold Inc. Mr. Dionne was also a director of Aurizon Mines from 2006-2013.

Chairman and CEO Gerald Panneton stated, “Thank you Louis for many years of excellent counselling, and mentoring. Louis has contributed greatly to our technical success, and we look forward to his ongoing technical support in his new role as Senior Technical Advisor.  We thank all our shareholders for their support over the years, and on the last successful financing, as we continue to focus on our quest to define more ounces at the Con Mine Option property.”

Shareholders approved the reappointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as the auditor of the Company for the ensuing year with their remuneration to be fixed by the board of directors.

Con Mine Option Property Deep Drilling Update

Drilling is progressing well with drill hole GTCM23-055 targeting high grade gold mineralization beneath the mine workings on the northern end of the Campbell Shear. The hole is over half-way to its target depth of 2,400 metres with the hole currently at approximately 1,300 metres down-hole, with no issues on dip and or azimuth objectives.

About Gold Terra

The Yellowknife Project (YP) encompasses 918 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 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 prolific Campbell Shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option (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 YP and CMO properties lie on the prolific 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 which reinforces the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

Visit our website at www.goldterracorp.com.

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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 YCG 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.