Gold Terra Resource Corp. provided an update on the deep drilling program designed to test gold mineralization at depth below the Con Mine deposit (1938-2003), where 5.1 million ounces of gold was produced at an average grade of 16 g/t. The Con Mine Option (CMO) Property is under option from subsidiaries of Newmont Corporation and is acquirable by the Company upon fulfillment of certain conditions set out in the CMO Property agreement. Hole GTCM23-055 intersected 22.5 metres of the Con Shear starting at 858 metres with several visible gold (VG) Specks reported during logging.

The Con shear was mined from 1934 until the 1960's with the C1 shaft to a depth of 800 metres and produced 1 Moz @ 20 g/t gold. The deposit was thought to be cutoff by a Granite intrusive. The current hole has demonstrated that the Con Shear is open at depth and in all directions, therefore warranting further drilling to assess its excellent potential to add ounces on the CMO.

Hole GTCM 23-055 is progressing well currently at a depth of 1,135 metres towards its primary target, the Campbell Shear, at a depth of 2,000 metres where very high-grade gold intersections have been reported in historic underground drill holes. The former Con Mine is a world-class gold deposit and part of the prolific Yellowknife mining camp where 6.1 M ounces of high-grade gold were recovered from the underground operation from both the Con Shear and Campbell Shear. The first deep drill hole of the summer program, GTCM23-055, has intersected the Con Shear from 858-880.5 metres (22.5 metres) and is on track to intersect the primary Campbell Shear target below 2,000 metres.

The opportunity will exist to wedge off the initial hole and target other high-grade zones in the area. In addition to the Con Shear the deep drill hole has intersected several felsic intrusive bodies above and below the Con Shear that contain mineralized quartz veins.